The Worthington advance., 1879-04-24
THE C. H. = ST. p. RAILROAD.

~Ako10eo \AA01utianB t1Aes), Pf, tS1,1Aos Net
sarninga, $3,65e,454; increase in gross earn.
ines over 1877, 1885, ,s7s; increase ir oper.t.
ing expenses, $251, $3.50; increase in net earn
ings, $84, 1885, decrease in interest on mort
gage bonds, W., ,487. The whole length OF
road now owned by the company is 1,512
miles; an extension of 100 miles having been
oott dHrlng the past year under authority
granted by the legislature of Iowa at its last
sesslou, conferring on this company the
Land grant applicable to the construction
Of = road from Agona westward to q
junction with the Sioux City d st. Paul
railroad, . distance of about eiehty-fiye
miles, on condition that the road shall be
completed by the first day of January, 1880.
The grant was accepted, and the road COM
pleted during the year, with fifteen miles in
addition, which takes the line to within
twenty miles of the east line of Dakota Fer
ritory.
The land giant thus earned and inurinp to
this company contains over zoo, 900 acres of
choice land in northwestern Iowa, which it ia
believed will meet with ready sale. This
extension has been constructed in the most
substantial manner and at very moderate
cost, and has been paid for with the proceeds
of bonds secured by mortgage of this sec-
tion OF the road and equipment. It is well
equipped with rolling stock, and will be a
valuable feeder to the old line of road.
The entire cost of the company's property,
including equipment, bridges, elevators, cat
tie-yards and grounds, is represented by:
Common stock. .Sl5. 4O1 .261
Preferred stock. k............ l2.279 asa
mortgage bonds. ACKNOWLEDGEMENTS. 3Z,O88 500
Making total of $59, ,772, ,244
from which may be deducted certain assets
which appear in the general account hereto
appended, reducing the actual cost to $685.
o68, ,494, an average of about $38,4O0 Der
mile for the 1872 miles of road.
In May last this company purchased most
of the stock and bonds of the DUBUQUE
Southwestern railroad in Iowa, extending
from Farley, point on the Illinois Central
railroad, twenty-three miles from Dubuque,
in southwesterly direction to Cedar Rap
ids. The road of this company extending
from Sabula westerly, connected with the
Dubuque Southwestern at Marion, SIX miles
northerly from Cedar Rapids, and now runs
to that city over that road, forming an i'm
portant and long desired connection.
In 1871 this company purchased portion
OF the mortgage bonds of the Madison g.
Portage railroad company, which had then
just completed it's line from Madison to
Portage City, in Wisconsin, a distance of
about forty miles. This road connects our
La Crosse division with our Prairie du
CHEN division, about midway between
Milwaukee and the Mississippi river, con-
Meeting the cities of Madison and Portage,
and passing, for the entire distance, through
fine country. During the year Just past
an opportunity was presented for securing
the remainder of said bonds,
and they were purchased, and tn, entire
issue is now owned by this company. The
road has been in possession of and operated
by this company for the past seven years.
Foreclosure proceedings upon said first mort
gage are pending, and the property will
soon be acquired Hereunder at moderate
cost.
The Minnesota Midland Railway company
was organized in 1877, to construct mar
row gauge railway from Wabashaw, on our
river division, westerly through the State OF
Minnesota; and in May, 1873, sixty miles OF
said road were completed, extending from
Wabashaw to Zumbrota, in Minnesota. This
road runs through very fine wheat country
which has heretofore been mainly tributary
to the lines of this company. The control
| OF the road being, therefore, deemed inn
portant, it was purchased at q very moderate
cost, and. the road is now in possession OF
and is being operated by this company.
The Viroqua Railway company was organ.
lied during the past year to construct rail.
way from Sparta, on the line of the La
Crosse division, southwesterly to Viroqua
the county seat of Vernon county, Wis, 9
distance of thirty 1.-TWO miles, and municipal
| aid to the amount of $4,000 was secured
| therefor. This road when constructed will
command the trade of a large extent oi
! well-settled territory now without railway
facilities. On full examination of the prem
ises, it was believed to be for the interests o1
this company to own and control the line
and IN arrangement was made by which this
| object has been effected in manner entirely
satisfactory to this company. len miles OF
the road, extending from Viroqua Junction
| (two miles west of Sparta) have been con.
structed and are now in operation, and th<
remaining twenty-five miles will be bull,
without delay.
1t is the expectation of the company thai
these roads will, at no distant day, be ab
| sorbed by and the titles vested in this com
pany.
The wheat crop of 1873 in Wisconsin,
Minnesota and northern Iowa gave promise
| until near harvest time of an unusually large
yield; but intervening rains and excessive
heats inflicted serious damage, affectinl
both it's quantity and quality.
The company has now 523 miles of roat
laid with steel rails, 10,580 tons having bee,
put in the track during the year 1873, ant
the following new equipment has beer
added: Twelve locomotives, ten passenge
cas, five baggage, mail, and express cars
271 boz cars, eighty-nine stock, and sixty
five flat cars.