The Cheyenne daily leader. [volume] (Cheyenne, Wyo.) 1870-1884, 1879-11-30
AND MONTANA RAILROAD.

AND W. an ~
l. The directors meet ing OF the Union
Paciic railroad company, which will be
held on Thursday next, viii prove of
great interest and value to the people
of Cheyenne and Laramie county. The
directors Will discuss, among other
questions, that Of building a railroad
extension from Cheyenne to the Black
Hills and Montana. It Is said that the
U. p. directors were never more in
earnest in their determination to build
this road than they are now.
1t is not at all strange that they
should come to this conclusion: There
is a field up north for them that prom
ises most remuneratiYe returns. The
Black Hills are filling up rapidly. New
discoveries of valuable mines are being
made constantly. Custer City especial
ly is looming up grandly as a mining
center, and has a most promising fu-
ture. As this city is nearer to Chey-
enne than any other supply point, a big
business awaits us. And the railroad
folks see that the Northern Pacific road
stands no chance in competition. At
best, a long drive by stage and wagon
would be necessary from the nearest
point on the Northern Pacific to the
mining centers of the Hills. The pro-
jected road from Cheyenne would go
right through the populous cities and
rich belts of gold and agriculture.
Hence all the business in the transpor-
tation line would be done on our pro-
posed new line.
1t is said by those who are supposed
to know whereof they speak that the
Union Pacific directors will determine
TO begin tile building Of the road at an
early day. OF course they will take ad-
vantage of the bonds authorized to lie
issued to them by the commissioners of
Laramie county to the amount of $780,
600. No better investment could be
made by the county than this. BY bor-
rowing a quarter million of dollars an
additional sum of one and three-quarter
millions will be invested in the county
by the railroad company. 1t is esti-
mated by those who are familiar with
the cost of railroads that not less than
$4,000, 900 will he planted in the county
in the construction of the proposed rail-
road. While the county gives the rail-
road company $3.50, 700 obtained on its
credit, 1t secures a vast capital for pur-
poses of taxation. The present taxable
valuation of property In the county is
SO, 234, IA. Add to this the cost OF the
new road and equipments, and we have
a total valuation of S5.234, l44. Taxes
will be reduced in consequence. In
stead of the issue of the bonds proving
a burden to u taxpayers, ft VIII bring
a relief. Now let us see if we are stat
ing the case correctly: The new bonds
will bear interest at eight per cent,
making $4,000 per year. Take the
present millage of % IN 50, 200, 900, the
value of the new road according to the
present assessed valuation of railroad
property, and we have an additional
revenue of S44, 600, OF a clear gain in
revenue from taxation of $4,000.
This gain is from the new railroad
alone. But who can estimate the gain
that will accrue to the city of Chey-
enne, to Laramie county in general?
The increase in the value of property,
the increase of population, the increase
of business all will roll up a grand
total of good that cannot now be esti-
mated. But it is clear to any man
| gifted with the most ordinary business
foresight, that the gain will be so great
that the county should rejoice in the
prospect of obtaining n railroad at such
a small figure.
The law passed by the fifth legislative
assembly has sufficient safeguards to
protect the people of this county and
city.
As the law stands it is all right. 1t
but remains for the railroad company
to determine on the speedy construction
Of the road, and then set to work ar
ranging for the same and giving out the
contracts.
Unless the signs Of the times are sad
ly out of joint, Cheyenne has good rea-
son to be proud of its prospects.