The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1876-03-30
FROM AUSTIN 40 LAMPASlS---DR.
WESTFALL'S GUEST IONERs AN
SWEHED.

DIR. Westfall, who has manifested such
infinite interest in the success OF the Lam
pasas narrow gauge road, has been asked
who would control its property and rates of
charges. He would have the STATESMAN an
swer. They who subscribe to the capital
stock of narrow gauge road control it, or
dinarily, forever. The reasons are plain.
A cheap road, unlike costly broad gauge,
is not swallowed up by the bondholders.
A well constructed broad gauge, perfectly
equipped, costs $50, 900 per mile; narrow
gauge, IN the same district, costs $12, 600
per mile. If we could raise $40, 900
per mile cash subscriptions it would
leave, If we build broad gauge, $50, 900
per mile OF bonded debt and only $4,000
of bonded debt, in case we build the
cheaper road. The total cost of one hun
dred miles of broad gauge road is So, OOO,-
600, having bonded debt of 81, 900, 900.
One hundred miles of the narrow gauge
would be finished with cash resources desig-
mated and leave a bonded debt of only
5000, 900. The annual interest on the debt
of the broad gauge would be, at seven per
cent, $4,000; of the narrow gauge,
$14, 900. In thirty years we must pay 81
200, 900 interest account alone on the broad
gauge, and only $500, 900 on interest &C.
count of the narrow gauge, a saving in
favor of the latter of So, 7S0, 900. At the
end of thirty years the principal and in
terest of the two debts must be paid and
the saving in favor of the cheaper
road will exceed $1,000, 900. If the
business of the broad gauge road
amount to $4,000 per mile per annum,
we have as gross earnings, the sum of
5000, 900. The cheaper road, because OF
less cost and less operating expenses and
less wear and tear, light cars and light To-
comotives doing little damage to the track
way and iron rails-these facts lessen the
relative cost of Operating" the narrow
gauge, as compared with that of the costly
road, twenty-five or thirty per cent. This
effects saving of $500 per mile, or $780,,
900 per annum for the whole road, or
"a, 500, 900 saved in the thirty years on the
narrow gauge. Add this to the sum saved
in constructing the cheaper road, and the
balance in favor of the narrow gauge in
thirty years exceeds 100000 saved.
These are simple facts that make narrow
gauge roads pay stockholders, and enable
stockholders, instead of foreign bondhold-
ers to own them, and these facts enable US
to answer the question propounded by the
big merchant on the Avenue to the excel
lent DIR. Westfall. A narrow gauge road
extinguishes its bonded debt; broad
gauge road extlnguishes its stockholders.
1t would be we'll for the people of Austin
to consider these plain facts and the inter
est OF the city, and of towns and counties
Tributary to the city, without reference to
the possible or impossible policy of the In
ternational. II we build the narrow gauge
we will be in infinitely better condition to
aid the International. Our property will
be doubled in value, and population from
all quarters will rush into districts blest
with railway which reduces necessarily
the cost of travel and transportation to a
minimum. There is not in the United
States an acre of arabic land, within ten
miles of narrow gauge road, that is not
worth, even at this hour, from ten
to one hundred dollars, and there is not an
acre of land outside the'lowest cedar brakes
between Austin and Lampasas within ten
miles of the narrow gauge, if it be built,
| that will NOT command instantly the same
or higher prices. Therefore, we have said
that these narrow gauge roads cost nsthing
and then pay heavy dividends.