The Pascagoula democrat-star. (Pascagoula, Miss.) 1878-1920, 1881-01-14

company are to be applied to pay
lug dividends, aud net earning are
to be calculated by deduetiug from
gross earnings tiie following expen.
ses: For operating and maintain
Ing road, keeping property in re-
pair, making such additions and
improvements as may be deemed
necessary by the company. Six
per cent. interest bonds are to be
issued, secured by mortgage on all
that part of the road in excess OF
forty-fve miles,at tile rate OF $780,
900 per mile. Five per cent Of net
earnings above this is to be sink
ing fund for the redemption Jf
these bonds. The government is
to be secured tor its advances OF
money by 6 per cent. bonds of the
company, running thirty years.
Whenever the earnings of the com
pany exceed all this and q per cent.
dividend on $50, 100000 of stock,
the surplus is to form a sinking
fund tor the payment OF the debt
to the government. Should con.
gress fail to appropriate sufficient
money to pay the disidead, the
secretary of the treasury is autho-
rized to issue 8 per cent. bonds tor
the purpose.
The poiut selected by Capt. Eads
for his railway is labol,t tlle center
of tue Isthmus Of TelIlantepee,
and he will, by taking advantage
of the CoatzacoalcOs and Uspanapa
riyers-two broad, deep, and beau
tifll livers--saye soiue tbirty-thr,e
/ mitcs of road buildiug on the At
| lantic or gulf side, and by utilizing
one or the other OF what are called
the upper aud lower lagoons on the
Pacific side, save there about
twenty miles Of road. The gull
terminus will be thirty-three miles
inland on the Uspanapa river, aud
the Pacific terminus probably Oh
! tie lower lagoon, which is suScepli
| ble of being made a magnificent
roadstead OF harbor, icing about
twenty miles long and twelve wide
The route selected is at a point
where the isthmus is narrOwest, oil
l435 miles wide in a direct liue, Sc
that it is probable the road will no'
be much over one hundred miles
are saved by utilizing the wateI
ways. There are six passes through
which a railway may be built, The
highest of which (Masahua) is 81;
feet above the level of the Pacific
and the lowest (Tarifa) is only 6S-
feet, SO that there will be no steel
grades to overcome aud the roat
will be practically level. The eli
mate of the isthmus is singularl,
mild and salubrious, the yellow
fever never having invaded thu
country, many villages OF which ar
visited as health resorts by th'
people OF the Mexican States.
The products of the country arr
coffee of the finest quality, whicl
grows wild on the banks OF th'
:. Coatzacoalcos G river; sugar cane
, which produces for thirty year
, without replanting aud whicI
grows eighteen feet high and tire
= inches in diameter; oranges eqna
to the best Havana, with no iros
, to blight the trees or hurricanes t
! blow them down; bananas whic
, are ripe the year ronnd; cor
which yields two and often thre
| crops annually; cotton equal t
!. our finest upland, which is neve
4 disturbed by the army worm; t
!. bacco, some OF which is said to b
{ superior to the best Cuba produc
II while the leaves of the coarser V;
G riety average thirty-three incht
# in length by fifteen in breadth
!. cocoa, rice, a great variety of I'll
/. most valuable timber, includln
II indiarubber and mahogany tre'
= (the latter of which are from els
d teen to twenty-four feet in circul
s ference), indigo, cochineal, petr
,s leum, etc. The harbor of Coatz
# coalcos is said to be Que of the be
Is south of Norfolk, the water insi'
,r bar being from thirty to sixty fe
deep, while on the bar itself 1t
# sixteen feet constantly, and C;
ID readily be deepened by the apple
Of ton of jetties.