Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1880-03-05
ME RAILROAD FIGURES.
Colossal Debts aud Tremendous mfia.
iiia l VI tion or Stock. gh tu3 ta
Bustup Herald

&M huStun Herald. ri stlA 10
A glance at the miles, stock aud dobt
ol the leading roads operating over IL
800 miles, shows II mileage of 1905,
stock, $l9l ,2Ba S6T; debt $2l7,63p,-f
236, Thase immense figures represent
six roads. Ten other roads, whose
mileage each Is lcss than 1900 miles,
but more than 900 milue, represent n
total Of 1910 miles Of road owned,
leased and operated. Tho debts of tho
leading roads are magniIiccntly ponder.
ous, almost daEing ono when he is ro-
minded of tens of millions. Hero are
few samples of colossal debt: Michigan
Central, Canada Southern and New
York has u debt of St., 60i,076, and the
stock IL Sl2S, l6G 50l. Lake Shore ana
Erie, $l02, 3OS 203 81. Louis and Chat
tanooga, $320l3,900; Baltimore and
Ohio, $37 ,67o,85l; Pennsylvania, sh5,-
| lli760; Chicago, Burlington anu Quin-
ey, S27 05S,T26; Chicago and North
Western. $82 70S 900; Chicago, Milwau-
keo and st. Paul, $32 6SS 600, Beside
these, there ia tho Wabash, Central
Pacific, Union Pacific, and several other
roads whose debts. are on ~ 6rstclns
scale, not emitting to mention the Fort
Wayne md Pennsylvania, from Chi.
cago To New York, whose dobt Is $685.
600, 900. aud the stock $9i,000,000.
During tho speculative craze IN Soetem-
Der lnst, the transactions In tho bonds Of
the leading railways amounted to $685..
1856 900, against 81, q27 800 in May, and
$50 097 900 in April. Five stocks alone
contributed nearly one.half OF tho stock
speculation of Septombor--an much
of this speculation was in water"
without regard TO the chances of diyi-
dends being paid, In the November
speculation the aggregate value Of the
transactions IN railroad stocks was $170,.
sos, 400, about $4,000 900 OF which
was in Eric, whose capital to-day Is rep
resented by Sl55,0D0 1000. II is esti-
mated TINT 10000 GOO would duplicate
tho road, and $25,O00000 would cover
the value Of the securities and interest
which the roads owns in other com.
panies. Tho capital stock Of tho road
IL, therefore, $00,000,000 over the actual
value OF tho property-and this $90,-
000,0 900 is an illustration Of inflated
stock, pure and simple.
Almost sd 100000 Of the $50 900.
600 capital stock Of the New York Gen.
trail and Hudson River Railroad Is "wa.
tered" the process having gone OF since
1863. When the consolidation Of these
two roads occurred IN 1869, their capital
stock wax increased so per cent. or
about $d5, 100000. Tho "waler" Of the
Erie and Central amounts 10 about
$500 100000, and tho combined capital
stock S2d4, 100000, while tho actual
capital il about $3.50, 100000. And il is
the old story, this initiation Of capital
stock 10 the detriment OF consumers,
which writer's on inter state commerce
have almost exhausted in their efforts
to attract the attention Of Congress 10
III subject. which needs consideration,
and possibly regulation, by the Federal
Commerce bill or bill similar 10 that re-
commended by Charles Francis Adams,
Jr., and providing for the appointment
Of q permanent Board OF Commission
ers III the form OF a rairond COM
mission, is an entering wedge toward
curailing the extrayagances and Affect
ing the well.being ofthe commerce OF
the interior OF the country, while ut the
same time IL may prevent the watering
OF railroad stock and correcting abuses
which are the direct and primary cause
Of high rates, which must DO charged
and exacted in order 10 pay dividends
while the other companies, operating
upon honest and legitimate capital and
alIording low rates, are either bull
dozed into the ring or crushed by the
ruinous rates 81 their more formidable
rivals. 1850
s@#8 - -
London Truth declares that Coyent
Garden IL no longer theatre IL the
sense understood by Rich, audit doubts
whether Dnry Lane would beregarded
~ one BY Garriek. s3I xlH3 T9r1@