The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1880-04-06
HALLWAY NOTES.

Oi EnBlhNi WIN AnHlN 'HN ,N'u WIZ "'
aver a thousand miles long, and will be very
difficult to build,
II ia undoubtedly solfintcrost TINT has
made Gould guard his own stocks so well,
Cor If the market were allowed 10 run into nm
od.mshlonod panic not only would buyers
he found wanting for these stocks, but they
would lose thciryauo rs collateral even on
wide margin
The st. Louis, Iron Mountain and South
ern Railway company gives notice that, rs
the stock trust has been terminated and
stock held by trustees transferred to the
Farmers Loan and Trust company flrdls'
trbution, tho holders Of certificates Of stock
can now surrender them and receive stock
therefor
Its positively asserted that New York
Central will sell twenty or thirty per cent
higher on some scheme which VIM. II. Van
derbilt ia Mt present maturing. An extra scrip
dividend IL TO be issued, or some other mr.
rangement of that nature made, for tho ben
eft of those who have identified their desti-
MES with the great family concern. Lake
Shore Is to be taken into the deal, In some
WAY or other, and to be put up, II Is said, 70
lZu, VIC bl lUt hlDllfN huuNb Ntllhlhl 10 UNIV
dividends will be raised TO 10 per cent. per
annum, or "a per cent. quarterly beginning
with tho first dividend after the Adjournment
of the Legislature, II Is said that II is be-
yond question that the earnings of the road
Justify such an increased dividend, but no one
Is entitled to speak, for the company will not
say whether or not there Is such anintention.
A bill of considerable interest to the
Southwestern railroads was Gently intro
duced in the House Mt Washington for the
completion of the Texas Central railway
through u section of country containing a
number Of military posts and no railway ia
ciltios. This bill provides that on the com.
petion of the road to tho meridian of 100
degrees west longitude, the United States
government shall indoro the bonds Of the
company, 20 run forty years, with 4per cent.
interest TO the amount Of $4,000 per milo
for the extension of the main line to
the border Of New Mexico, and also for n
southwestern branch to the Rio Grande in
the direction of Fort Davis One hundred
miles are required to be completed within
two wears, and the entire line and branch in
ten years. Endorsements of the bonds are to
DO made as each section of ten miles is COM
ploted. 1t is understood that the objective
point of the main line is the Canadian river,
where a connection will be made with the
proposed extension Of the st. Louis and San
Francisco road.
In four column article the New York
Bulletin gives the names Of railroads now in
actual course of construction and those pro-
iected. There are 5000 miles Of the former
and $4,000 of the latter. The activity is the
greatest in the est and southwest, but the
south has q good share, and the middle and
eastern States are not without largo enter
prisos. The total number Of miles named
above nearly equal the entire increase of
mileage for three years, 1869, 1870 and 1871
the most active and inflated period OF rail
road construction in the history of the coun-
try. Assuming an average rate of capital,
ization, the new issues of stock and
bonds upon the fifteen thousand six hun
bred and twelve miles constructing and
projected within the brief period
Of seven months, will aggregate four
hundred and thirty-seven million dollars
The Bulletin makes the following ominous
remark in this connections; " 1t was this
same process Of sinking capital in non-pro-
ductive works in advance of the requirements
oftrade, that more than anything else brought
upon the country the initiation that collapsed
in 1873; and it is anything but IN assuring
symptom that the evil is so soon and so
boldly repeated"
The cost of railway iron now and one year
ago is nearly double-S35 then and sos now
per ton in Philadelphia, to give approximate
figures. 1t may be interesting to the general
reader to apply this to the present and for
mer cost ofironing roads. Take, forinstance,
the 49 miles in the proposed Dallas and Gle
bune railway. Assuming that the weight
adopted W Il DO 45 pounds to the yard, and
after IN Implying and reducing to tons it will
require 1901 tons to lay the track from Dali
las to Cleburne. Multiply the tons by 500,
and we nave $246,480 Add to this l29 per
cent for fastenings and the cost would be
S277.48 as against $40, 900 in round num-
bers last summer, q difference offs about $685.
900. OF course grading, building, survey
ing, locomotives, cars, and everything else
connected with the building and equipping
of II road have gone up more or less, and all
these into which iron en}ers fully as much if
not more than the rails. 1t is doubt
full if the Dallas & ,Clebume can be
built and equipped as standard
broad gauge short of Sl7.0 900 per mile, but
place the figure at $4,000 and it will re-
Quirc $72O,00O. Like all other manner Of
building it takes money these days to put u
railroad in operation from the ground up,
and a deal of it. But they have always been
costly, so much so that not one in hundred
has been built without being heavily mort
gagged, and few indeed have escaped having
their mortgages foreclosed and being sold
ont at auction, the holders of the mortgages
bidding in the road.
The Wall Street News, always fertile of
points, declares that it is an open secret in
well informed railroad circles that Boston
parties in the interest of the Chicago, Bur-
lngton & Quincy railroad are again on the
still-hunt to secure the control of the Mis-
souri,, Kansas & Texas railroad. 1t is fur
Their asserted that the foreign holders of the
Missouri Kansas & Texas railroad securities
have formed combination with the Boston
parties to accomplish the end in view, and
that gentleman formerly connected with
the Missouri, Kansas u Texas railroad, him
self holder of million of its
bonds, and who understands more thor
oughy than any other its great value, is
now on his way home from Europe,
clothed with full power to carry into practi-
cal operation the combination above fore
Swallowed. The election takes place early in
May and it is claimed that the Boston
brokers have lately had transferred into
their names about million of the stock, and
as we are informed, are still purchasing in
quiet way. Take that in connection wltnthe