St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-03-10
CANADIAN PACIFIC AFFAIRS.
Position and Prospects of the Company
Estimated and Actual Cost of Oon-

Position and Prospects of the Company
Estimated and Actual Cost of Oo,s-
struction Per Nile.
The Canadian Pacific line will be. through
to the Pacific ocean and the contract with
the Canadian government completed by
September next. The company will then
have built within the So months eince it be-
gan work 2, 1S1 miles of railroad at cash
outlay of S66, 731, ,7O3, or S3O,551 per mile.
Henry Willard, in his recently published
statement to the directors of the Northern
his administration cost S39, ,657, ,656, or
S51, 500 per mile, the original estimate
of the chief engineer of the Northern Pacific
for this work being S2O6, OOO,0 fraction
more than one-half of its actual cost. The
Canadian Pacific had expended up to Dec.
81, 1884, on the construction of the main
line and branches, extensions, terminals,
improvements and equipments. S72, ,552, $40; !;
to avoid guaranteed dividends, 16,23S, ,2SS );
dividends paid, S3,42S, 900; inter
est paid on land grant bonds,
S5S2, ,734; total, s92, SOL, 1862 The total
amount received from cash and land sub
sides and the government loan, up
to Dec. 81, was $50, 532, ,651; the balance
provided by the company, s37,26S, I'll.
The company had on Dec. 81 spent in equip
ment over SO, 100000 or about $4,000 per
mile of road in operation. The investment
for equipment will have to be increased 80
per cent. by the time the line is opened to
the Pacific.
The folowing..comparative statements of the
work up to the beginning of the year, made by
Canadian paper, show the position of the
Canadian compared with the Northern Pa
cifc:
NORTHERN PACIFIC RAILWAY.
Assuming the funds in the hands of the
governm to be sufficient to finish the con-
tract, total mileage complete and lines leased
3,94S miles.
Stock with nine years. dividend in
government lands ............... S65, ,OO0, 900
Total Indebtedness, including tae en-
tire government loan, leased lines,
capitalized at 5 per cent. t.......... 52,O76, 745
Cost per mile (nomnal) ......... 29,655
Debt per mile. Observation-Disclosures. 1890
Gross earnings for the whole year to
31st December 1884 ............. 5,750,521
Operating expenses. 4,55S, $50
Net earnlngsfor the year............. 1,191,S 81
Note.-If s14. .2SS, 2SS in the hands of the
government to pay 8 per cent. guaranteed
dividend be deducted from the total debt,
the cost per mile would be reduced to S26,
OBS and the debt per mile would be reduced
to s9,597.
NORTHERN PACIFIC RAILWAY.
Total mileage, main line and branches,
2,43S miles.
Stock, common and preferred. 49,. SSS, SO7, 900
Bonds, interest-bearing obligations,
leased lines, capitalized at per
cent. ACKNOWLEDGEMENTS. S2,9O1 ,521
Cost per mile (nominal) ............ 70,430
Debt per mile.... ............... $4,000
Gross earnings for half year ending
Dec. 81, 1884. s4............... 6,627 ,719
Operating expenses for half year,. 3.26S. $50
Net earnings for half year. ar.......... 3,359, $50
From these statements it will be seen what
position the Canadian Pacific will occupy on
the completion of the through line. A capa-
city to make the net earnings per mile
equal to that of the Northern Pacific would
give the Canadian Pacific net earnings
amounting to over $I1. 900, 600 annually.