The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1880-08-25
United STATES RAILWAYS.
..7Oi Miles Built This Year progress
ofOId and New Roads-Price OF
Iron-Facts and statistics
OHicial, Fresh and
Interesting.

land, a distance of 10 miles.
Coast Iine.-Itis stated that this company
has succeeded in neg tiatng sale Of lts
hon5s 10 an amount sufficient TO build The
rosd from Columbia, Texas, to Wharton.
about forty miles. Iron as peen OouShb ana
is now on the way to Texas
Atchison, Topeka e Santa Fe.-TraGk on
this road is now laid to Socorro, N. NJ 10
miles southward down the Rio Grande valley
from Albuquerque, and 977 miles from
Atchison. Work is progressing steadily
towards Ell Paso.
Morgan's Louisiana & Texas.--Contracs
have been let for the grading Of the extern
s; , If the Opelousas branch from Opelou-
sas Louisiana northward to Alexandria, on
Rad river. The company has already con-
trscted for the rails for this extension.
Southern P icifc. Track on the Arizona
division is now reported laid to q point 81
niles eastward from the operating terminus
az Ransom. This makes the end Of the track
845 miles eastward from Yuma and l,Ol6
miles from San Francisco. The work ahead
10 the New Mexico line is light and is
progressing very fast.
Now Orleans Pacifc.-The American Rall'
way Improvement company receives at It's
office in New York until Aug 2lst bids for
So 100000 of the per cent. hrst-mortgaggee
bonds of this company. The terms are ~
ner cent on allotments and the balance as
called for in 10 per emit. miscellaneous, not
less than thirty days to intervene between
the calls. A bonus of so per cent in stock
will be given with the bonds.
ST. Louis, Iron Mountain " Southern.-A
contract has been let to Vaudeville, Downing
& Co. for the construction of the branch
from Gurdon, Ark, southeast through the
Ouochita valley to Camden. The distance
is about thirty-five miles, and the work is to
he completed this year. 1t is understood
that the company purposes IN Time 70 extend
This branch TO Monroe, La, through the
fertile country bordering the Ouachita.
Tits number of the Railroad Gazette con-
toins information of the laying Of track on
new railroads as follows: Metropolitan Ele-
vated The Second Avenue Line in New
Work ia extended from Sixty-sixth street to
One hundred and twenty. seventh street, o
miles. South Forida.-Completed from
Srnlnr1. Fla, to Lake Maitland. 10 miles;
s uthern paciiic.-Extended eastward to
r ilroad Pass Arizona, "a miles. Atchison,
1onel1a & Santv Fe.-Extende1 southwark to
s zorro. N, NJ, 20 miles. This is q total OF
"a miles of new railroad, making 22,70l miles
tSis f,r this wear, against 1916 miles report
ed Of tbe same lime in 1879, 1905 miles IN
1873 o4g miles in 1877, 1921 miles in 1876,
607 niles in 1875 GIG miles in 1874, 2,O2o
miles in 1873, and 8, 4S5 miles In lo'Z'
Prices of rails: Steel rails are active and
somewhat higher. Quotations vary from
$50 to 800 per ton at mill. Sales OF several
III msand tons of English rail at S63 per ton,
delivered in New York, are reported: IL Is
said that some large contr cts nave also oeeh
made for rails to be rolled from imported
steel blooms. Iron rails are active and prices
are from S45 TO S49 per ton at mill. A large
order is reported placed for English iron rails
of about SlS per ton, delivered in Galveston
or New Orleans. Old rails are quiet WIN
sale, ut S27 to S2S per ton in Philadelphia.
Railroad spikes are quoted in Pitts6urg at
% cents per pound; track bolts at 81 cents
ner mound for square nuts and At Tor heXS-
gon; lish-plates at q to q cents
New York, Aug. 20.-A leading Wal
street broker. who more than any other /:
iden,i6ed with Mr.. Gould's interests, said TO-
dav: MIR Gould's position has been sadly
misrenresepted. He does not 90 to work
and never did in his lite, to buy or sell The
entire list AS some reckless spectators ven
ture to do, but mines his operations
,hose stocks which he thoroughly under
stands and controls. The impression mas
bowever, cot abroad that Mr.. Gould is OF
the ave of putting out a large line OF shorts
Th;s il mot true. since he is now bent upoI
Travelling with the prosperity of the country
es far ms il effected those special Localities
which have not sufficiently appreciated witt
tbe r;se in tie tide. Such q threat as that
Mr.. could being ready TO bear the mar
has only been started in the interest OF tho.'
who wish to buy stocks. The very fact o
Mr. Gould putting so much ready cash int
r,ilroad pr,iscts of intrinsic merit ia TIT
southwest will necessarily force him Il
LON 10 the ball side for some tint
+, come. His interest outside Q
g., on Invest combination is very small
ana whether or not he thinks that the manip
nIstors of Lake Shore, st. Paul, Northwest
ern and Erie have pushed their advantage ia
enough, he will not interfere with then
should those stocks advance another ~ pc
cant So concentrated are Mr.. Goulo's plan
that when the prospect of the Southwestern
country doomed up it became necessity 10
him TO choose between devoting LIS time an
money TO the Wabash or the new projects
He had previously reorganized Wabash If !,
the ashes of what WAS supposed TO De oahR
rupt corporation, so he decided 70 ail9'
Messrs. Sage and Humphreys to perfect th
plans he had in view for that road. IL there
fore looks as if all the speculation and activ
trading will be done this fall and early VIII
ter in the southwestern stocks, as was VI ID
case when the Wabash star was reVlVec' IN
Missouri Pacific railroad under Its reorg,h
cation will be an important factor e'ne
with the connecting roads which have pee
taken into the scheme. Although the me-
company has been capitalized for S3VooV,'
600, and only So, 375,500 of stock is TO !
issued, the remainder is to be used in pawn
for additional branches and DulIl
ing other roads. The preseI
issue of stock will be divided as follow
Missouri Pacific, SsO0O,0t0; Kshssy Cll
and Eastern. S366,000 Lexington and Soutl
ern, $l,050,009; ST. Louis, Kansas City
Arizona, Sl,l5S,500, and Kansas City
Leayenwortb, $3.50 000 Total, Sl2,Sl4
500. The st. Louis & Lexington, which
included in the consolidation, does not
ceiye any new stock. These six roads ha'
mileage of $50 miles, with bonded de
of about S20,00O,000, equal to little ov
S32 900 per mile. The stock is represents
atthe rate of SCI 900 per mile. 1t is claim
that this capitalization is very moderate,
the Missouri Pacific is earning 100000
annually, and could pay a dividend up