Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1876-05-31
81 ~ .a... -, .. s1l ,D0J
Six'y-scven miles at sl'o1o per mile is $s,i .o0t


sixty-scyen miles at 80 ooo per mile is 1871 .oo
SECOND, WHAT INCOME WILL Tue ROAD PAY
10 considering this question, the fact tina
most prominently presents Itself Is the er,a
advantages which the route presents arlsiu
rom It's connection with other railroads. nd
VaiHages which no other proposed route IN Tn
STATE possesses.
There are four railroads IN operation an.
.nice others whote carly construction Is prob
nble, which will connect with the Miuera
Io,nt and Portage City r. r.
Either one Of the four companies, hayin.
ROADS IN operation which viii be IN connection
Win ours, would have a large interest in II
construction and would, it Is confidently be
heVed, be viking to enter into n contract [,
operate II SO soon rs the road Itself was finished
80 ms To admit the running Of cars provide thl
necessary station buildings, fencing and eouip
ment, aud pay such rental a. would give i
reasonable rctuin for the money invested In IL.
cost.
he four companies referred 10 are
lsf The Mineral Il. K. Co., In connection
WITH The Illinois Central, whatever that con
nection may be-
), "a, The Chicago. Milwaukee & 81. Pau
Railway Go.
3D. The Chicago S Northwestern Railway
tth, The Wisconsin Central Railroad
ne plan which is now suggested for Secur
invested IN The construction OF the road Is sub
hanialy The following.
whenever permanent board OF directors
erected, which Mill possess the necessary DON
yrs, ICY thtin enter into contract with SOM
ohe OF lhesc companies by lch the II T. y
4 - ~ Il. 20, shall agree 10 construct rail
ROAD IRON Mineral Point To Portage City, viii
non rail-, In such manner thnt II shalt be ready
Tor Tue running OF cars, by some time to ht
agreed upon, aud to grant TO the other con
uacting company the exclusive right Of oper
at'ng The road permanently and receiving all
The income 10 be derived from It.
Inc other contracting railroad company
should agree TO provide all the necessary sta.
tiuns and depot buildings, machine shops, On
CINE houses, and other fixtures, To fence The
road, furnish all the rolling stock necessary for
It's successful aud profitable operation, pnd
permanently operate IL to the greatest prodt
pay the expenses of maintaining and operating
the road, and pay such rental as should be
agreed upon between the parties.
The only difficulty that could probably exist
In making such contract woud hc the amount
OF rental, In reference to that there are Ger
tain principles, which would he recognized by
both parties as necessarily TO be regarded,
one Is, that iuasmuch as foreclosure sale
upon the first mortgage would destroy the
rights OF both parties to the contract OF lease
such fixed sum should be paid, as would be
certain to avert the necessity FOR or the danger
of any such sale,
Another H. that the company which main
taius aud operates the road, should be reim.
bursed oul oi the earnings, the amount eX.
pended for maintaining aud operating and Il
reasonable interest upon the amount paid ont
FOR fixtures aud fencing and for The first cos, OF
rolling stock.
The third is that the surplus, il any, or SO
much OF ii as should be necessary for that pur.
pose, should he paid 10 the company which
constructed the railroad for the purpose Of re.
turning 90 IL reasonable interest upon It's or
igiusl Investment.
The fixed sum 10 bsvaid ON the first Of these
principles should be sUeh sum as would meet
The somiannua interest of the first mortgage
bonds, ut or byfuie maturity, and retire the
principal Ii the BOMBS issued should be Sl2, d.
900 per mile, bearing , per cent. interest a
payment OF $500 per mile scmiannually would
lAy the scmi-anuual interest and retire thc
principal in 80 years after which all the Income
would 60 10 the stock holders, aud the pres
pccilNe value of the stock would hc very great.
Its supposed that two thirds of the gross
receipts would be a reasonable proportion, 10
hc retained by the company operating the
road, TO cover the expenses OF maintaining and
operating It, and Interest upon the cost OF
fixtures, fences and rolling stock
The other one third would represent the net
earnings from which should tc deducted the
amount paid for interest and sinking fund aud
and The balance, IL any 10 be applied TO paving
interest upon Tie original cost OF the road, In
the form ot dividends upon stock
TO Illustrate such a contract, let Il be sup.
posed that the gross receipts per mile were
5000
The opera Ing company would receive s. uso,
and the constructing company would receive
1000; whicA would br applicable 20 the bonds.
II the gross receipts per mile are estimated
nj - SO, the opr'Etlng company would receive
g 900 and ia. constructing company SL45l
Aud II from the ~, 4b3 received hy he CON,
parry which constructs the road, the sum .El
si,u00 be dedI ctcd fer interest aud spkirs
fund Of bonds, It viii have the sum OF $50 RI |
mile for interest 10 stockholders ON Their r. !
Nesiment, which on o. miles would amount =, |
eo.lJl' which woH.d 5e small fraction more
than 10 per cent on $4,000. which is ils /
amount as viii presently be shown. which MI. I
proposed toFaise bY suhsci q,ious 10 Tic cam K
tai stock Of the eomp5uy
The estimated cosl of the road ready for
oprrall0D, as before stated, Is SS1l 800.