Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1878-03-14


than par. l have advised the peo-
pie aEd the towns which have aid
ed the road to take notes or bonds
in preference to shares Of capital
stock. The shares of capital stock
OF the new roads of this State have
not realized one cent on the dollar
to thoir purchasers of the par value
of the stock ;while the holders of the
floating debt and bonds have reali-
zed the whole value of the property
in the roads or near the par value of
the debt. 1t is not the am cunt of
stock subscribers which gives secur-
ity to the creditors, but the value of
the property of the road itself in
proportion to it's debt which gives
value to the notes and bonds Of the
company.
quote the following from the
Railroad Commissioners report for
the state of Wisconsin for the year
1877, page 9.
'The total debt per mile of roads
reporting that item is ........ S20,045.26
The average cost per mile is :. 40254 81
The highest cost per mile of road
in Wisconsin is that of the Green
Bay 4 Minnesota, given at ...... b0,3S0. 30
The lowest of the standard
gauge roads is Chippewa Falls &
Western az -. ............... l7,474.6S
The Fon du Lac, Amboy & Peoria
Railroad Company, narrow gauge,
report (too late for use in making
the estimate of total cost of roads
within the State) the total cost of
their road from Fon du Lac to Iron
Ridge junction, thirty miles at !. $50, BOG "A
Or "a, per mile including equipment"
The total mortgage debt of the G.
81 Il. r. II. is not to exceed 5000
per mlle--less than / the average
debt of the roads of the State. The
whole cost less than the average
cost per mile Of tho railroads Of tho
State. One hundred and sixty miles
Of the G. 81 L. r. r. according to The
estimate of the Engineer, would cost
5000. 100. One hundred and sixty
miles OF road at the average cost OF
the roads of the State as shown by
commissioners report would be &c.
AL, 72l go.
The Chicago, Milwaukee & St.
Paul Railroad with mortgage debt
of 1900 per mile pays the interest
on that debt promptly, and during
tho last year dividend on stock. 1t
the Milwaukee railroad can do that
with it's debt, can any one doubt but
that the G. Il IT. r. r can prompt
ly meet its obligations with it's debt
of SIS, 900 per mile? The town of
Lancaster offered $4,000 dollars as
donation for railroad from Platte.
vile. A less sum to the C.& Il. r r.
would secure to that town q oonnec-
ton With the Chicago, Milwaukee
Il st. Paul II. r. land the Illinois Gen.
trail K. r., and instead of being q do.
nation the town would receive the
notes of the G. & T. r. r. which the
road would be able TO pay, principal
and interest.
Your correspondent states that
TIE change of gauge in connecting
with other roads is equal to the
hauling by wagons a distance of
twelve miles. This is contrary to
the experience of narrow gauge rail.
roads. Tn, shipper takes his ship
ping bill through to the point OF
shipment the same as if it was a
road of the samo gauge, and the bus
mess can be done enough cheaper
on account of the gauge to more than
pay for the transfer. There is no
extra charge made By any narrow
| gauge Railroad for transfer.
AS to the enterprise having first
been undertaken by Iowa men, !
do not know whst Iowa has done
to her discredit that should make il
dishonorable for a Wisconsin enter
prise to employ Iowa men. Iowa
built the first narrow gauge raj road
IN the Mississippi valley and Wiscon.
sin is having the benefit Of her ex-
perience. There has been litigation
with but one town which has at.
tempted to repudiate its contract
with the G. & t. r. r., and that il
the town Of Marietta, opposite Bos
cobel. In that case there has beer
furnished no evidence Of fraud OF
shadow of fraud on the part of the
G. & T. r. r. Company. La every
town the aid has been supported
by the largest taxpayers, and best
citizens, and | believe that The
names in each town on the petition
in favor Of the aid represent ma
Ijority of the taxable property in tin,
respective towns.
AZ to yonr correspondent WHIT
signs his name &C." l understand il
is "Caution" only in thia case b,
lacks the courage to sign anything
but the initial &C" For The inior
nation of the public 1 will state tina
am informed that the writer VIII,
| - -nraa aCanlionn ia G.. TX
Dean OF Boscobel, and these attack
upon tie c. & T. r. r. come from
Boseabel men, and is cry of sci
preservation. 1t is admitted tina
the building of the G. &c r. R.R. will
diminish the local trade of Boscobel
and these letters are written witt
the selfish purpose of protecting tn,
interests Of Bosoobel at the expense
OF the farmers living adjacent to tn,
line of the G. &c Il. r. r. w,
hold no i'll will toward the citizens
OF Boscobel, and in case they lose
some of their business by the build
ing of the G. 81 T. II. r. we shall
sympathize with them, but in tina,
case we trust that they will have
common sense and enterprise enough
to build up manufactures and othe,
local interests in their city to give il
IN the future prosperity that it has
never enjoyed in the past. 1t can
not be expected that the people liv.
ing adjacent to the g. 81 T.R. r. car
go without the advan tages of rail.
road for tho benefit of Boscobcl,
ID. e. w. WILLIAMS.
| President of the G. u. Il. r, r..