Wichita eagle. [volume] (Wichita, Kan.) 1886-1890, 1886-12-22

So 504, 3S5. so in bonds. A considerable
portion of this bond debt has passed
through the courts, wherein the legality of
the issue and the validity of the bonds were
put in issue and litigated. The almost in
variable result has confirmed the binding
nature of these obligations. Even at the
present time proceedings are pending be-
fore the United States circuit court for
Kansas, having for their object the CO.
ercion of tax levies for the payment of de-
faulted interest upon some of them.
From information derived from answers
addressed by this office to the county clerks
of the different counties in the state, it ap-
pears that since July l, 1885, to November
1, 1886, there has been voted by counties,
cities and townships the aggregate sum of
$40. ISL 800.
This is being continually increased by
| fresh bond voting. Add to this the vast
aggregate of debt incurred for school
houses, court houses, bridges, water works
etc, and it will be seen that the people of
the state are assuming burden too gre
to be borne The ambition to grow al d
expand fast may be INDUCED unwisely and
become cause of weakness and decay.
Concerning the purchase of the above
road, the report contains the following:
The fact is noted in another part of this
report that the Atchison, Topeka s. Santa
Fe railroad company has acquired, by ex-
change of the stock of that company to the
amount 81 ,532, 600 for the same amount of
the capital stock of the Gulf, Colorado &
Santa Fe, the ownership of the last named
road. The exchange referred TO absorbed
all but merely nominal amount of the
capital stock of the last named road The
number of miles of road embraced in the
purchase is 536 The completed lines ex-
tend from Galveston to Fort Worth, with
several minor divisions reaching Houston,
Montgomery and Dallas.
Since its acquisition by the AtchisOn
company the road has been extended north
from Fort Worth, at this writing, upward
of sixty miles, and a line is being pushed
through the Indian Territory, south from
Arkansas City. Kan. to meet the line being
built from Fort Worth. If no unforeseen
obstacle interposes to prevent the progress
of the work now going on at both ends Of
the line, it is not too much to expect that
within one year the Gulf, Colorado & Santa
Fe will be linked to the Atchison system in
Kansas
We regard this as most important ac-
QUESTION, both for the future of the Atchi
son system and as affecting the trade and
commerce of Kansas. Texas comprises a.
vast territory, large portions Of which are
well adapted to the growth of cotton Al
ready the production Of this staple has be-
come leading feature in Texas agricul-
ture. The conditions that prevail, viz
cheap lands, favorable climate and the
low price Of cereals, combine to render this |
the most profitable land product in the |
state On the other hand, Kansas is better
adapted to the growth of wheat and corn
Already large and constantly increasing
demand from Texas for Kansas wheat and |
Jour and corn has sprung up. The Gulf.
Colorado and Santa Fee traverses the cotton
egions of that state and the connection be-
ween that and the Atchisen system in
Kansas will give ready and cheap access to
vast region which will create an ever in
reasing demand for leading Kansas pro-
ucts.
What Kansas needs is market for her
our and cereals nearer home than is af
orded by prices based On foreign demand.
We confidently expect that the building of
system of railroads between Texas and
Iansas will solve that problem
In addition to the above articles of in
have been filed in the states of
illinois, Iowa and Missouri, having for
heir object the building of system of
mes from several points on the Missouri
City, Atchison and St. Jo-
Missouri and Iowa to the
river. and from several points
n the latter river leading to Chicago, to be
perated in connection with the Santa Fe
ystem.
With the completion of the line now be-
lg built to connect the Gulf, Colorado e
anita Fee with the Atchison system in Kan
IS, this state will have communication
18th Texas over two routes, the Missouri.
,ansas & Texas, besides the one mentioned
hove. Doubtless others will follow in
me-
Comparing the number of tons carried
y the railroads reporting to this office
18th the tonnage for the year before by
he same companies, and also the last two
ears, respectively, the following net re-
Its appear: The aggregate net increase
| the number of tons of freight hauled for
he year ending June 80, 1886, compared
18th the corresponding period of the pre-
lOus year is 705, 27S OF tons NOtwith-
anding this increase in the amOugt of ton
age carried, the aggregate net decrease in
eight earnings for the year ending June
}, 1886, compared with the corresponding
erlod the previous year, amounts to the
I'm of ST. 405, 70917 I
The total gross earnings from all sources,
| companies. for the year ending June :
}, 1886. 500, 166. $685. 80. Increase over
he year ending June 80, 1885 of 81, S49,-
lS 25
The aggregate amount Of dividend paid
n capital stock, common and preferred
n the year, S7.0l7,O 934S Increase
yer the amount paid the year previous
1862, 177.77.
Average per centage of dividends on
'tal stocks issued, 2.47.