The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1889-06-23
Brilliant Showing for the Future of
the Great Enterprise.
Missionaries Look Upon 1t as a Dis
seminator of Christianity.
Cost of Operating the Line and the
Basis of Calculation.
Full Details, as Given by the Congo
Commercial and Industrial Com
pany-what Has Been Dono
and What Is Doing.
From the New York Herald.

the Herald prints tho following story from
"Congo's champion:"
The Congo Commercial and Industrial
Company, having completed the prelimi-
nary study OF tho projected Congo Rail-
way from Matadi to Stanley Pool, have
presented the results OF their inyestiga.
ton in a report made by apermanent COM
mtteo. From this document il appears:
/. That the cost Of the railway with a
gauge Of seventy.iive cenumeters has been
estimated at %, 0O0,00Of including interest
charged on the capital during the period
Of construction.
2. That the expenses OF working the
road, calculated on basis OF one train in
constant circulation on the line, may be
estimated at /, 200,0O0i year.
3. That the gross receipts assured to the
railway will amount at the minimum to the
sum now expended in the district Of the
cataracts for transportation on mems backs,
and that II appears from statistics produced
on the subject these expenses amount to
more than 900, OOOi year.
These facts prove that the railway can
be made TO pay its running expenses and
also TO give remuneration from the start to
capital invested in II, which will keep pace
with the economic and commercial deyol-
opment Of the upper Congo region.
Under these conditions there is good
reason for the establishment OF the Congo
Railway, with the aid OF the Belgian
Government, and with the assistance of
the capital raised in Belgium and in other
countries. which will preserve TO the en-.
terprse the international character that
It's projectors desire IL to have.
The capital OF the company will be fixed
at %. 600, 0OOi. divided rs follows: A stock
capital OF 10000, 09Oi, which will have the
prior right 10 the net profits to the extent
OF - per cent Of the capital. rs guaran.
tees interest, but which will not partici.
pate In any surplus Of profit These shares
OF stock, which are ~ he entirely paid up
when the company is iofmcd, are to be
taken up by the Belgian Government,
aud interest of ~ per cent. will be paid on
them during the period OF construction.
which interest viii be- charged 10 the ac-
coun, Of the cost OF the first establishment;
an additional capital OF l5,0O0,00Oi in
common stock, and having a right 10 3
per cent. interest concurrcntly with the
preferred stock on the first profits The
common stock will then be entitled TO a
first dividend Of ~ per cent in addition.
A table will be prepared for the lorna
ton Of n sinking fund with which 10 pay
of at par In period Of ninety-ninc years
%, 600 shares OF the preferred and 10000
shares OF the common stock subscribed at
5O0i each, nj l,O0Ot. During the period OF
construction holders Of common stock will
DO entitled TO receive interest at the rate
OF per cent per annum on the amount oi
paid up capital, and 10 provide for the
sinking fund. which will be, In round
numbers, l, $50, OO0i-that Is 10 say, &c.,
5OOi as interest Of "a per cent, aud for the
sinking fund for the payment at par Of the
10000 shares OF preferred capital, and
2,0s7, 5O0i for the guaranteed interest and
first dividends OF per cent on the com.
mon stock, and for the sinking fund nee.
essary 10 pay of these shares at l,OO0i
. each.
The surplus Of profits, after payment Of
tho above annual charges, shall be divided
~ follows Fifty per cent. 10 the com.
mon stock not yet paid of from the sink.
ing fund aud 10 tie shares issued 10 take
the place Of such stock, 10 per cent 10
the Board Of Directors aud 40 per cent Ia
the 4, 500 founders shares.
II will also he stipulated In the bylaws
OF the company that profits arising from
any source other than the working Of the
line, M for example from tho sale OF the
0jj, 400 hectares Of land granted 20 the
company by way OF subyention, will be-
applied 10 the sinking fund.
The freight and passenger rate, will be;
Up country freight, l,OOOi per ton. This
ratio Is tho same a. the present cost Of
transportation on the backs Of men. Down
country freight, 2,OOOi per ton. on an aver.
age. with different rates Of freight accord.
ing TO tho yaluo Of the merchandise
carried. Ivory, for example, paying ~,
maximum of l,OOOi and palm oil the mini.
mum Of 1901. Passengers, D00i for a single
fare.
This rate Il what Il now costs for the
journey from Maiadi 10 Stanley Pool, OF
/ vice versa.
The following are the estimates as 10 the
traffic OF the road. Fust, a train con.
stantly on the road would take two days IA
make tho run up country aud the same
/ length OF time 10 return. or say ninety
| iWhha WV NhAiuN wv N'Hf AAN hHig"t
capacity Of each train 10 bo fifty tons.
Estimating the paying freight 10 be ioI
each up.cOuntry trip One-hali OF the car
/ rying capacity Of the train, or twenty-five
tons, aud Of 80 per cent Of the carrying
capacity for each down trip, or forty tons,
aud also n passenger traffic oil 3OI
travellers, the following may DO set down
~ the receipts $500.
fiut, up trip, $50 by % equals Z, 2jC
tons, at ,OO0i, or a total Of 2, go, 0OOf; sec
end, down trip, 40 BY ~ equals 3,GO0,0Ol
tons, at 200i, or n total Of 7O0,OO0f third
passenger traffic, 300 passengers at zoo
each, making a total Of ljO,OO0i, or a grand
total Of 3, 10000
The cost Of operating the line will be
Fixed expenses, 1000, 0OOii variable os'
ponscs, 200, 000f; not results, l,O2OOOOL
Deduct 0 per cent ior the reserve, o.
00.0OOi, and the profits Tor distribution vii
leave 1874, 000f, Of which will DO needed
In order 10 pay the - per cent on the
preferred and per cent on the common
stock, and for the sinking fund, l,45OOOOl
leaving balance Of ga, OOOL
OF this available balance OF $4,000
there will be distributed 10 per cent. e
common stock-yil. lS1,O00f, OF. " 25C
per share M an additional diyidendi oil "