The New Orleans daily Democrat., 1877-06-23
A PAYING INVESTMENT.

Yesterday an advertisement, signe
by formidable list OF New Yorl
capitalists, appeared In one OF our loca
papers, inviting those having funds t,
invest to subscribe to the four per cen
funded loan Of the United States. Op
portunities for profitable and at th,
same time safe investments are growing
30 rare that this four per cent loan
quite popular, and portion OF 1t will
be promptly taken up in the differen
cities Of the Union. It would be singu
lar, however, If this offer should fine
any takers In New Orleans, where al
opportunity is presented for safe in
vestment far more profitable to the
subscribers and of incalculable impor
tance to the welfare of our city ant
State. We refer to the New Orleans
Pacific Railway.
We have heard no well-informed per
son deny that this road, IL completed
would control large trade for this city
But IL has been held. and still is believed
by some Of our fellow citizens that the
cost Of building, equipping and operat.
ing the road will be 80 great that invest.
ors In It's stock cannot derive as large a
rate OF interest from their money as they
would il they invested in other enter
prises. We understand and concede
the soundness of the principle upon
which this objection is based, and Ii the
assumption were correct the road when
completed would certainly fail to con-
fer the benefits expected from 1t. But,
unless figures are false, trade and geo.
graphical relations incomprehensible
and human judgment deranged, the as
sumption that the road will not pay is
utterly untenable.
COST or THE ROAD.
We find that the most exaggerated
and, in some instances, the most prepos-
ferrous ideas OF the cost of building a
railroad from this city to Shreveport
and Marshall prevail. It will cost ten
we are told, and we are referred
for proof Of this exaggerated statement
to the cost OF the construction Of other
lines, and the estimates made for the
building of the Backbone road in the
flush days of railroad building and
squandering anterior to the great crisis
Of 1873. But there is no sense in calcu-
lating the cost of building a railroad in
1877 upon estimates made In 1873, or the
cost of work to be done by we'll known
md honest business men upon estimates
made for the same work by rings, spec
ulators and politicians whose purpose
was to make vast sums Of money and
who expected the Legislature and Con-
yress to pay their estimates.
Major Greene. after careful survey
Of the route of the New Orleans Pa
oiflo and months of observation, with
much of the heavy work progressing
under his eye, has furnished the pub
lilo, through report to the directors of
the company, with a carefully prepared
estimate of the total cost of this enter
prise. to which we invite general atten-
tion. Major Greene is an eminent and
engineer and certainly
would not be guilty of the folly of
making a grossly inaccurate estimate
Of such work and, by so doing, damage
his well-earned professional reputation.
rhe figures with which he furnishes us
n his report of the cost of this road
nay therefore be safely accepted by
he public
The road, when completed from Bayou
ioula to Shreveport and Marshall, will
70 2Ss miles in length. Major Greene,
in detail the cost Of the sew
raj divisions Of the road, the grading,
'ridging, superstructure laid down
shops, stations, ETC., sums up
he total cost Of the completed road
rom Bayou Goula to Shreveport and
MARSHALL at $3,5s7, 900; estimating the
purchase price of the completed road
rom this city to Bayou Goula at
'75O, 900, the completed line from New
orleans to Shreveport and Marshall
would thus cost the company 1887 900.
n his estimate Of the cost Of the
Dad from Bayou Goula northward,
dajor Greene makes no mention
4 rolling stock; but he includes an
stimate Of $229,s $50 for shops, stations,
ection-h houses, etc., not more than half
4 which will be required for these pur-
'oses until some time after the compile
ion Of the road, while the other half
will be ample to furnish the road with
n equipment sufficient for all imme-
late purposes, and which can be in
reased as the business Of the road
Increases. The striking and irrefutable
act then is presented to the public
hat the Ne,o Orleans Pacific Raii,ray can
e built and equipped from Ne,o Orleans
0 Shreveport and Marshall for four
Millions t,Uo hundred and eighty-seUen
housdnd sic hundred dollars.
This road, completed at this price, will
70 the cheapest railroad in the United