Daily globe., 1879-04-21
THE c. M. & ST. p. RAILROAD.

The annual Report for 1s7S-Eas,,tn0s
and Disbursements Progress of Con-
St3'MctiOn.
The annual report of the Chicago, Milwau-
zee q st. Paul railroad company for the year
ending Dec. 81, 1878, makes the following
exhibit: Gross earnings, $8,45l,767. Gross
expenses Gnoluding taxes), $4, ,792,313. Net
earninga, $3,659,454; increase in gross earn
ings over 1877, 1886, 1878; increase in operat-
ing expenses, $251 $3.50; increase in net earn
ings, 1884, 1893; decrease in interest on mort |
gage bonds, $22,4s7. The whole length of |
road now owned by the company is 1912 |
built during the past year 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 a
junction with the Sioux City & St. Paul
railroad, distance of about eighty-five
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-gaant 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 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 g property,
including equipment, bridges, elevators, cat
tle-yards and grounds, is represented by:
Common stock. $l5 4O1 ,261
Preferred stock. ACKNOWLEDGEMENTS. l2,279, ,483
Making total of 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.
| O6S ,494, an average of about $38, 400 per
mile for the 1,512 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 longdesired 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, 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
: al opportunity was presented for securing
the remainder of said bonds
and they were purchased, and tho entire
issue is now owned by this company. 'Eh'
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 moderat
cost.
| The Minnesota Midland Railway compan,
was organized in 1877, to construct mar
row gauge railway from Wabashaw, on ou
, river division, westerly through the State O
! Minnesota; and in May, 1878, sixty miles o
, said road were completed, extending fron
Wabashaw to Zumbrota, in Minnesota. Thi
! road runs through very fine wheat country
r which has heretofore been mainly tributar
3 to the lines of this company. The contro
of the road being, therefore, deemed i'm
: portant, it was purchased at a very moderat
cost, and the road is now in possession Q
!: and is being operated by this company.
: The Viroqua Railway company was orgar
@ lied during the past year to construct raj
o way from Sparta, on the line of the L
!. Crosse division, southwesterly to Viroqus
f the county seat of Vernon county, Wis,
: distance of thirtytwo miles, and municipl
r aid to the amount of $4,000 was secure
n therefor. This road when constructed wi
n command the trade of a large extent {
4 well-settled territory now without railwa
a facilities. On full examination of the prem
|. ises, it was believed to be for the interests
n this company to own and control the lin
/. and an arrangement was made by which th
!: object has been effected in manner entire
o satisfactory to this company. Ten miles
3: the road, extending from Viroqua Junctie
% Gwo miles west of Sparta) have been col
structed and are now in operation, and Il
remaining twenty-five miles will be bu
without delay.
1t is the expectation of the company tn
VI these roads will, at no distant day, be a
sorbed by and the titles vested in this con
pany.
The wheat crop of 1878 in Wisconsi
70 Minnesota and northern Iowa gave promi
le until near harvest time of an unusually lar
g, yield; but intervening rains and excessi
q heats inflicted serious damage, affectil
- both its quantity and quality.
~ The company has now 523 miles of ro
lr laid with steel rails, 10,580 tons having be
ly put in the track during the year 1873, a
as the following new equipment has be
no added: Twelve locomotives, ten passene
cars, five baggage, mail, and express ca
o. 271 box cars, eighty-nine stock, and six
~ ~ five flat cars.
It's WISCONSIN NEWS.
be
l. g., - l>os a. 81. o41