Daily globe., 1879-04-21
THE G. NJ. s ST. P. RAILROAD.

NHN DaSONFSenteUCS - I.rOUrcS8 OF Con.
st,,tcti0n.
The annual report of the Chicago, Milwau-
zee & St. Paul railroad company for the year
'nding Dec 81, 1878, makes the following
exhibit: Gross earnings, $S,451,767. Gross
expenses (including taxes), $4, ,792, 1913. Net
sarninga, $3,G59,454; increase in gross earn
ngs over 1877, $3S6,s73; increase in opera:-
ing expenses, $25l, $3.50; increase in net earn
ings, 1884, 1893; decrease in interest on mort
gage g bonds, $22,487. The whole length of
road now owned by the company is 1,512
built dhring the past yeaS under authority
granted by the Legislature of Iowa at its last
session, comforting on this company the
land grant applicable to the construction
of road from Algona westward to
junction with the Sioux City g. st. Paul
railroad, distance of about eighty-fve
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 Ter |
ritory.
The Land giant thus earned and inuring to |
this company contains over 100000 acres of
choice land in northwestern Iowa, which it is
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 a mortgage of this Sec
tion of the road and equipment. 1t is we'll
equipped with rolling stock, and will be
valuable feeder to the old line of road.
The entire cost of the company property,
= l,.:l
tle-yards and grounds, is represented by:
Preferred stock. .................... l2,279, 48S
Mortgage bonds. ds.................. 81, ,088, 500
Making total of. f.............. SIS, ,772, PA
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, 400 per
mile for the 1,5l2 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 &
Portage railroad company, which had then
Just completed its 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 Port age,
and passing, for the entire distance, through
q fine country. During the year just past
: al opportunity was presented for securing
the remainder of said bonds
and they wero purchased, and tn, entire
issue is row 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
J gage are pending. and the property vii
soon be acquired Hereunder at u moderate
cost.
, was organized in 1877, to construct mar
row gauge railway from Wabashaw, on oul
, river division, westerly through the State o1
Minnesota; and in May, 1878, sixty miles Of
! said road were completed, extending from
Wabashaw to Zumbrota, in Minnesota. Thit
, road runs through a very fine wheat country
r which has heretofore been mainly tributary
to the lines of this company. The contro
r of the road being, therefore, deemed i'm
: portant, it was purchased at a very moderate
r cost, and the road is now in possession o
!: and is being operated by this company.
: The Viroqua Railway company was organ
q lied during the past year to construct a rail
o way from Sparta, on the line of the l.
!. Crosse division, southwesterly to Viroqua
f the county seat of Vernon county, Wis,
: distance of thirty two miles, and municips
r aid to the amount of $4,000 was secure
n therefor. This road when constructed wi
n command the trade of large extent G
d well-settled territory now without railwa
q facilities. On full examination of the prem
[. isee, it was believed to be for the interests
n this company to own and control the lin
1. and an arrangement was made by which th
/: object has been effected in manner ontirel
o satisfactory to this company. Ten miles {
q: the road, extending from Viroqua Junctio
% two miles west of Sparta) have been CO,
structed and are now in operation, and tt
without delay.
1t is the expectation of the company tn
~ these roads will, at no distant day, be al
sorbed by and the titles vested in this con
pany.
The wheat crop of 1878 in Wisconsi,
70 Minnesota and northern Iowa gave promi
10 until near harvest time of an unusually larl
g, yield; but intervening rains and excessi'
"a heats inflicted serious damage, affecti1
70 both its quantity and quality.
w The company has now 523 miles of ros
'lr laid with steel rails, 1O,580 tons having be.
~ put in the track during the year 1878, al
as the following new equipment has bee
no added: Twelve locomotives, ten passeng
- cars, five baggage, mail, and express cal
o. 271 box cars, eighty-nine stock, and si1t
a five fiat cars.
It's WISCONSIN NEWS.
be ------
tie An effort is being made for stock co,
pany to build public hall in Winnebago.
ly The town authorities of Black Creek of
be a reward of $500 for the arrest and conv
ly ton of the murderer Young Rhoda.
81 81 There is strong pressure being broua
y. ~ to bear on the council of Racine to have