Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1881-01-28
TnE RAILWAYS.
A Boom for the Narrow Gnnge Trunk
Line.-What n Boston Paper Says
. OfIt.--Other Raiirvnd Newh

The following account Of the projected
Toledo, Delphos 4 Burlington railroad is
taken from The Boston Tanscript;
The subscriptions which are now being
taken in Boston, New Yurk nud London
by the Toledo, Cincinnati ,S ST. Louis raj :
road company for the extension of the To.
lcdo, Dclphos & Burlington line from Ko.
komo, Ind, to ST. Louis, Mo-, ore directing
public attention to what promises to be the
most successful new railroad enterprise
east of the Mississippi IN which Boston
capital Is engaged. The Bchemc Is no less
than system OF narrow gauge roads he
Narrow gauge roads between populoms
centres will shortly do for the public whnt
the American Union Telegraph company
is doing in telcgraphy. Where existing
broad gauge lines, capitalized for from
$4,000, to Sl2o,0 per mile, are doing II
profitable business, there Is certainly room
Tor narrow gauge road few miles dis
tant, with a capitalization Of from 81 1000
to $4,000 per mile, and bonded debt OF
from $4,000 to $4,000 per mile, about
one.tenth the amount upon which the old
roads are paying interest and dividends.
The Toledo, Delphos & Burlington road
will, via Delphos, connect Toledo and Ko-
komo, and Dciphos and Dayton. The dis
iances are-from Toledo to Dayton, 1856
N a A. ~.
miles; n total of 285 miles. This is com.
pleted, except about Is miles on the Day.
ton line, and about Is miles OH the Koko-
mo line, but January isex!pected to see the
entire road in iull operation. The Gin
cinnati Northern road, built in the inter-
est of the above named company, will
make the 80 mile connection from Dayton
to Cincinnati This will be IN operation
at the opening Of Spring. 1t secures the
last available entrance into Cincinnati.
which, with its rights OF way into the city,
is estimated Ms worth 81 100000. The old
company of which the Cincinnati North.
ern is the successor, spent considerable
money in grading 40 miles OF the line and
in securing this entrance into Cincinnati.
The Delphos company owns majority
interest in the Cincinnati Northern stock,
of which there is 81 100000, divided into
shares of the par OF $50. Its per cent
bonds dating October 1, amount to hut
81 100000. These are now being marketed
ut 95, mostly, however, in Cincinnati
The terminal facilities of the Toledo road
in the city of Toledo are unsurpassed
The company secured the old canal bed
one hundred feet wide, through the center
of the city to the lake front, where an ele
vator will soon be erected. The Ramsey
transfer here makes connection between the
car boxes of the Lake Shore and Canada
Southern roads and the narrow gaugs
trucks. Similar connec ion will be made
with other east and west lines crossed by
this road. The president of this company
is Gen. John NJ. Corse, OF Now York, well
known as a railroad man OF experience.
The financial basis is 50, ,250000 of first
mortgage per cent. thirty year bonds, al
the rate of $4,000 per mile, or fixed
charge of only $3.50 per mile, or S135,00(
for the entire road. The noncumulativt
income per cent. bonds amount to So
250, 900, and the stock is S4,000,000 auth
orized, about S3,000,000 issued.
The bonds sell at 95, the incomes at 80
and the stock of the par OF $50 at about S1(
per share. The original subscribers how
ever, received 81, 900 bond, $500 of in
comes, and $500 in stock for 5000. TIL,
grade of the road to Dayton is nowhere
above 13 feet to the mile, and on the lin,
to Kokomo the maximum grade is % fee
to the mile.
The subscription that is now being takeI
is to build the st. Louis extension of 25l
miles through the Indiana coal fields ant
some of the richest corn and wheat land
of Indiana and Illinois. The line vii
cost about S3,O00,000, and for $4,000 sub
scribed, $4,000 of of frst-inortgage 6 pc
cent. bonds, 5000 of per cent. incomes
and $4,000 in stock will be issued.