Dodge City times. [volume] (Dodge City, Kan.) 1876-1892, 1888-02-23
WHY VOTE r. II. BONDS.

The Dodge City, Montezuma & Trim
ided Railroad 20. asks tho voters of
Fairview and Richland townships to
vote bonds to the amount of $4,000 per
per mile, to construct and operate
railroad line through those townships.
Before we vote tax upon ourselves we
want to know if it is going to pay us to
do so. If not, we should vote against
the bonds; but if it will pay, we ought
to do the same as in any other bust
ness transaction. Suppose we quietly
sit down and figure the cost of the road
to the voters, if the bonds carry; then
figure the benefits, we can tell beyond
a doubt how we ought to vote upon
this proposition. But before we begin
to figure, let US first 6 t rid of all pre-
JUDGE, either for OF against, SO as to
decide fairly.
Take Fairview township and figure
on that, and the same figuring will ap-
ply to Richland township. Fairview
will have, including side track, about
eight miles of road bed, at $4,000 per
mile, equals $1,000 IN bonds, to be paid
at the end Of twenty years, at 6 per cent.
per annum; making an annual tax to
pay the interest of $3.50, multiply by
twenty years and we will have paid $19,-
200 in interest. Add to that SIG, 900
in bonds, which gives the total cost to
the tax payers for the road, $35, 200.
Next let us see what it will be worth to
us. Take first the tax that the company
will pay. The Santa Fe pays tax on
50, 500 per mile. Now to be on the safe
side, suppose that the Rock Island, be-
inga new road in Kansas, would only be
assessed at $4,000 per mile. Multiply
this by eight, the number of miles of
road, and we have $4,000. We now
pay tax of little over 4 per cent. on
our valuation, which will probably be the
average for years. Annual tax would
be 50, $50. This amount multiplied by
twenty, the numbers Of years the bonds
are to run, and we have $51, 200 that
the railroad company have paid in the
shape of tax, and we have only paid
$35, 200. Subtract this from what the
company has paid, and we have receiv-
ed SIG, 900 more from them in taxes
alone than the road has cost us. And
that is not all. The township still owns
SIG, 900 in stock in the road, and I am
reliably informed that railroad stock
has never sold in this state at less than
20 cents on the dollar, and as high as
100 cents. This is as far as space will
permit us to go with figures. But we
will have other benefits that cannot be
definitely estimated. Cheaper coal, will
save hundreds Of dollars annually.
Cheaper transportation to the mining
districts for our farm products. Build
ing up Dodge City and creating 2 home
demand for perishable articles on the
farm. Enhancing the value Of our lands. |
These I believe to be of more profit to
us than shown by the figures. It would
seem to NE that We can't afford to vote
against the bonds. RQt some say that
we will get the road without the bonds, |
and there is no use voting them. Let
US see what inducements there are for |
any company to build 2 road over the
route. This spring the pee
pie through the county where the road
is located have nothing to ship out,
and will not have for nearly . ysar.
This being the case, no company Will
put in all the money needed to build
! road in advance Of prospect to Do