The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1877-11-29

NNtlEs sad slFiit sac Narrow AnuH
20 tne Editor oi the Herald,
trum present. indications TIE peopl
~ Johnson ANA Dallas counties wi,
hnuri 8 Geo Gated upon 10 do 6ometniul
tuHtrl the luidlnR ~ a narrow gnu!
rOni nom DhIlaR Ia IlrlWue, ana 4
mls ft uu, he uuf ui place lupl nov 4
nllr'i .ttuilDu HnmrWhai tu this par
tlnulW ruti bui unfortunately fr IhH
oHi thr expert NEE of ihe people, a,
have ''Utdy .ul Upig HlI g. tupn en-
t,iHH'7i NlN Ut.u most uustiisi4D
i"N- 'h'lr Investments usually an,
manipulated, absorbed aLd swop
away
Now this need not NECESSARILY b,
lhe cH.e IN building road from Dal
lps 10 Cleunrne, aud n departure from
the usual private or exclusive way oi
organizing railroad companies would
come nearer insuring the speedy COM
pletion OF the road than anything that
can possibly be done In the usual way,
according 10 our experience. Instead
Oflhe usual number Of directors gems
orally from six 10 eight would sug.
geHt not less than tlhy. would have
them composed OF the representative
men al Johnson and Dallas counties,
and possibly some territory beyond
Johnson county, In the city Of Dallas,
Cleburne aud other towns on the line
Of the road, | would have every
class represented in the directory, ana
al along the line between the towns |
would have the people represented 10y
farmers, the latter having represen.
tati0n OF fully 0ne.third OF the whole
directory. 10 these fifty men the PEG
pie would look for the proper manage
ment of the road and the proteclioa
OF their investments The farmer
would hardly dis'fust tho management
OF the directory while he feels that he
IL represented by honest farmers, aud
the mcrchsut would feel that his IN
terest was secure In the hands OF mer.
chants, and 10 with 0.Lor classes.
think II IL conceded that the ordinary
cost OF constructing a narrow gauge
road (mpstly from The proceeds OF the
sale of It's bonds ut prices ranging
from siXty-iive to ninety cents on the
dollar is about seven thousand dollars
per mile, all complete and ready for
business, which Is more than this lOld |
ought 10 cost 10y at least one thousand
per mile ! wUuld have the directory
appoint an executive board, or board |
OF trustees, to perform such duties 10
the directory might indicate, and make |
monthly reports 70 the directory and to |
the people through the newspapers | |
would propose TO The farmer, or any |
one along the line, to make him one |
OF the bona Fde owners Of the road, by |
issuing ham stock as fast Rs he earns il |
In grading, furnishing lies, bridge tim
Der and other services. | void !
suggest to the people of Dallas
nndJohnsOn counties not TO donate fifty |
and twenty-five thousand dollars re-
spectIveiy, but to see that the board is
honest and capsule, aud invest the
amount in stock of the road with the
assurance that If the building and
operating railroads is profitable that
their investment il good one. IL tue
people had assurance of fair dealing, il
would be easy to guess whether an in
dividual would donate one thousand
dollars, or take two thousand dollars Of
stock as an investment The road
ought to start out with something like
the following resources: Johnson
county, instead of donating fifty thou
sand dollars would, in reason, take
aeventy.tlve thousand dollars OF stock
Dallas, iUstead OF donating twenty-five
thousand dollars, would take thirty
seven thousand stock The farmers
and others along the line would grade
the road, for which they would take
seventy five thousand dollars, which
would be equal to that much money
paid in, and other services rendered
along the line, amounting to len thou
sand dollars more, for which stock
would be received, would be equal to
that amount paid in cash. The sixteen
SECTIONS to the mile, at seventy-dve
dollars per section, would amount to
about sixty-three Thousand dollars,
making the sum of two hundred and
sixty thousand dollars Then the
amount OF bonds necessary to com
plete the road could not reasonably
exceed one hundred thousand dollars,
with seven per cent interest, payable,
say in ten, fifteen and twenty years.
This would be an annual interest
of $1,000, 10 be paid out Of the net earn
ings of the road, the balance being app
piled to the sinking fund and divi-
dends in favor Of stockholders. Tap.
ping u well populated country, hereto
fore not occupied by railroad, this
would hardly prove less remuneratiVe
than the Jefferson and Pi;tsburg mar
row gauge road. A correspondent Of
one of the Dallas papers, writing from
] Jefferson, says: "Slnce the opening Of
the season trains have hem running
only to Dangertield, thirty three miles,
and yet the receipts are far beyond the {
expenses" And he adds: "Whst
would you think of little road like
this earning nearly thousand dollars
q week, and that, too, within Wagons
Ing distance of the city m One would |
suppose mat the time would come
when people would refuse to donate
blindly half they have got to railroads.
It seems that heretofore the people
have been inclined to regard the buld.
ing of railroads "a beyond their com
prehensinn or their right to inquire
Into, but in this instance 1t is not only
their right, but their duty to know
how il is done, and there is no doubt
but that directory of fifty efficient
men would keep them posted. II rail
r ads are profitable in the hands OF a
few, there ought to be no reason why
this road should not prove more profit
able. PROPERTY HOLDER,
An End 40 EmbIazonments.