Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1881-01-21
THE HALr.mrLLroN Gran.
s.Look Before You Leap--sBe Surs
Yau Are Right and Then Ga
Ahead"


EDITOR SENTINEL: A number Of tn
leading citizens Of Eureka county, includ
ing merchants, mining companies, law
yers and others, have organized a ~railroa,
company to be called the Eureka and Col
orado River Railroad Company. Thei
purpose is to construct a first-class marrow
guage railroad from Eureka, by way o
Pinto Greek, into White Pine county, b,
Thirty-mile Springs, Hercules Gap ant
thence down to Steptoe Valley, and south
through said valley into Lincoln count,
by way of Lake or Cave Valley, Bristol
Phoebe and ~Bullionville, or Panaca, ant
down the Meadow Valley Wash and theme,
to the Colorado River, at the head OF nayi
cation or tide water.
This route will secure connections at TIKI
South which will compete in fares and
freights with the Union and Central Pa.
cifc railroads on the North, and the South
ern Pacific on the South; and further, two
railroads, one called the Thirty-fifth Par
allel, and the other the Western Extension
Of the Denver and Rio Grande Railroad,
will cross the line Of this road at the ex-
IRENE south end OF Lincoln county, by the
time the Eureka road can be completed to
said point. These cross railroads will
come from the Eastern States, and run to
some point on the Pacific Ocean, and thus
four different lines of railfoad will be put
in competition to deliver both Eastern and
Western freights to the people of Eastern
Nevada by means OF the Eureka railroad
at the cheapest possible rates; and by this
means enable us either to free ourselves
OF the extortions of the Union Pacific and
Central Pacific railroads, or else force the
latter to act with more humanity toward
the people Of this State than they will ever
do in the absence of such competition.
This route will throw fully one hundred
and fifty miles of railroad bed into White
Pine county, and upwards of two hundred
and fifty miles into Lincoln county, besides
depots, rolling stock, side tracks and other
property, thus more than doubling the
value of the taxable property Of White
Pine county, and probably increasing the
taxable property Of Lincoln county three
fold.
The benefits to White Pine county. in
revenue, from taxing such a road. will be
better understood by the following figures:
$50 miles rosdbed, at 81, 900 per mile S 1000
Value of rol ing stock ............ 1900
side-tracks, depots and other property 10000
$50 miles of telegraph. ............ $1,000
81 ,135, 900
Taxed at 8 per cent-revenues de-
rived 34,050
The benefits to Lincoln county from the
taxation of the property of such a road is
shown by the following
$50 miles rosdbed. at 5000 per mile 81, 500. 600
Value of rolling stock ............. 1850
Side tracks, depots AMI other property $4,000
$50 miles of telegraph. ............. $1,000
81, 745, goo
Taxed at 4 per cent-revenues de-
os,oOU
Besides the amounts of revenue which
would be derived from these counties, taxing
the prosperity of the road itself. The fact
of the road running through these coun-
ties will render all kinds Of property more
easily marketable, and increase the value Of
all property lying near said road; thus in
this way increasing the value of taxable
property in the counties. In addition, l
believe that the building of such a road
would enable us to work many mines
which are at present discovered and con-
sidered worthless; besides, it would stimu-
late the discovery and development of
many others, neither of which would ever
be done without its assistance, and thus
throw vitality into a now comparatively
dead portion Of our State, and create a
new era of vigor, enterprise and hope,
where now the future seems gloomy and
discouraging. Above all Of the foregoing
considerations, if this road is pushed for
ward with vigor, it will create q market in
said counties during its construction such
as can scarcely be supplied by the people.
and will cause the disbursement OF more
money than has been scattered in those re-
gions since the flush times of Hamilton
and Phoebe.
The projectors of this road ask that Eu-
reka county subscribe 500. 900 to its CAPT.
tai stock. That White Pine and Lincoln
ital stock. and that the company will issue
capital stock equal to the amount of the
subscription made by the counties. Thus,
the counties will become stockholders in
the road to the extent of their subscrip-
ton. In this connection it is not improper
to state that every railroad which has been
constructed, in this State, has paid divi-
dends upon its capital stock all the way
from fifteen to thirty per cent annually,
and there is every reason to believe thai SO
soon as this road is completed it will be one
of the best paying roads in the State, and
that therefore all OF the counties subscrib-
ing to its stock will double their revenues
by taxing the road itself, and as soon as it
is completed will be deriving as much rev.
enue from dividends on their stock. This
plan Of giving the counties an equal
amount of stock in exchange for bonds has
never been pursued in this or any other
State before, except in the case of one rail-
road in Illinois, and to-day that railroad
has not only paid off the whole Of the
State debt, but is paving the entire run
ming expenses of the State government,
and they have more than 500, 900 cash in
the treasury, which is not required for
State purposes, and was all derived from
her interest in that railroad, In 1859
Ormsby county made a gift or " subsidy"
of $500, 900, and Storey county gave $780,
900 to the Virginia & Truckee Railroad.
and received no stock in exchange. II
those counties had received stock equal to
their donations to that railroad, the divi-
dends on such stock would have paid the
current expenses Of those counties ever
since the completion of the road, and to-
day, instead of exorbitant taxes, those
counties would not have to levy a single
cent OF taxes for county purposes.
II the three eastern counties are so for
tunate as to secure stock, comforting a IA
vor on this new Railroad Company, they
will in the long run secure an advantage tc
themselves which few counties in this OF
any other State ever had offered them.
If Eureka county secures dividends upor
her 500, 600 of proposed stock, even a.
the rate of ~ per cent per annum. she will
secure $12, 900 annually from that sourc'
alone, moi to mention the revenue derived
from taxing the property of the company
If White Pine county receives q like divi
dend on her S200, 900 of stock. she will re
alize S24, 900 each year from that source
which, added to the estimated S34, $50 o
revenue derived from taxing the road ant
its property. win make an annual income
from taxes and dividends amounting Il
$5s, $50 !; and Lincoln county's dividend
---- a. A., ~ akAnI rAxxl