The Emporia weekly news. [volume] (Emporia, Kan.) 1881-1889, 1883-08-30
HON GREdr FORTUNES Ire



MADE. T.
Aichisnn Champla.n: How son.e IL \
Inc col0-s4I fortunes Of the country have
been acquired is ILLUSTRATED by the his a
tpry.Oi ihe Atci,ison bridge. This siruc .
tur.. c..,st. ~ IT stands I.'dAy, not II ex- -
ceeI S500,G00. The men ~h" built il a
issued. ,ot'e,nselves. 81, IOO,c G0 of et'sk. O
in equai amount, 100000 they re =
ceived the ciiy's 100000 OF hnnds. and
they put upon the bridge mortgage
bords To the amount OF 81 100000, which
they themselves hold or represent
The e bonds bear interest At the rate ni
seven per cent, we believe. This would
make, inclGdtug the ciiy's 500, 900 of
bonds. a total OF 81 100000 of seven per
cent b nd, r. ceived by the bridge COM
paDy ior Building bridge that cost not
to exceed 100000.
The ia ecrst on 500, 900, the cost OF
the BIRD ~. at $, Yea per ccnt.-s large
interest, these days-would aggregate
$4,000 per annum. But the city put
in 100000 of this amount, leaving only |
! 400, 600 which the company invested, |
| and seven per cent on this amount |
would aggregate $4,000 per annum
The cost of repairing and maintaining |
the bridge, per Gnnum, csnBOt exceed
| $4,000 81 that if it earns $4,000 per
annum, this amount will pay seven per
cent. on the 100000 invested by the
company, and all expenses of repairing
an operating the bridge for one year
The bridge. however, is earning from
from $50. 900 To 100000 per year. IL
has earned, Mayor Burns says. in his
special message TO the cOunciI-and we
quote his statements of the
cost of tie bridge, operating expenses,
bonded debt and stocks, and earnings in
making up these calcuIstiOns.$1.0 24,-
coo during the past eight years, clear of
operating expenses, or E12S.OOO per an
mum. 1t is. therefore, earning upon the
$4OO, 600 actually invested in il by the
bridge company, an annual interest OF
thirty-tWO per cent, or two and two thirds
, per cent per month. And ITS net earnings
since its completion eight years ago.
have PAID the entire amount invested by
the company three times over, leaving a
surplus Of $24 600
The account, therefore, would stand
about as follows:
4 THE AIcHIsoN BRIDGE co.
BY amount invested in building. -,
n bridge 1850 -'..:;;.----. 49,. 400 o
To bonds of the city OF Atchison... : 100 S9C
Bonds Issue, ISSUED on on sli dge a 1S az SS
r Mes earnings of bridge tor eight 90. ,oo
years ..-..-.--.. 49,. lsO24lOu
Total .....,,,, -. ....-..-....t g sa4 eet
s Deduct cost OF bridge. .....-....... 4o0.cO'
5 Net gain to company. - 934 .OC(
| Thus on an investment of 500. 600
the bridge company has made. in eighi
r. years a clear profit OF two million nine
T hundred and twenty four thousand dol
# Oars, or more than seven times tbs
1t amount Of iQyestWept.
l. We assume, Of course, that Mayor
r Burnes correctly stated the cost Of the
J. bridge. etc. Indeed, we are told by Onf
rs of the engineers who superintendent the
s building of the bridge, that it did moi
cost over $4OO,O0O and the cost Of re.
placing the west abutment and building
the added span is stated at about $50,
s, 600, making a total of about $500. 900.
e Yet the city OF Atchison. which paid
e one-fift of the cost of the bridge, has
IT fur;ng that period, never received SIN
u gle dollar " dlyidends, nor has 1t shared
3. 10 the extent Of a cent, ihese enormous
1t profits.
'r This is the way in which some Of the
is colossal fortunes of this country are &C
y quired so rapidly. Here is q public
a structure into which the company own
re ing it put not to exceed $500 900 of theil
h own money. But they now have piled
D. upon it q, 200. 900 of stock and bonds
re snd the bridge is actually earning nearly
Of blk per cent. per annum on this sum.