The great West. [volume] (St. Paul, Minn.) 1889-18??, 1889-11-29
VOL. l, NO. 7.

add a bond debt of 1O3 millions
17S millions of debt! Besides
this there is floating debt, making
a total of 1S3 million dollars.
Then comes the question as to how
much of this belongs to the Winona
& st. Peter road with it's 414 miles,
The report says proportion of debt
belonging to Minnesota is Is mil
lions. This amounts to $43,47S to
the mile.
Every mile of that road was built
and stocked for less than $4,000 to
the mile.
1t is worthy of remark that in a
table the entire cost of the
entire Northwestern road and equip
ment, under the head of "Grand
Total is 159 millions. AS the pre-
vious total (from bond and stock
stand point) is 1S3 millions there has
been loss of $23, 900 900 some where
which even the company recognize,
although it AYERS positively that
they have kept no record of what the
sale OF bonds produced! If any man
is imbccile enough to believe this and
is at liberty then there is a vacant
place in some insane asylum. 23-mil-
lion dollars must be quite sum to
lose in a Jew years and not know
where it went to. How much of this
Discount" belongs to Minnesota no
man can tell. The state should COM
pei the publication of the financial his
tory OF every road under it's jurisdic-
ton.
However, we DO know that the
WinOna & st. Peter has to bear a
debt burden of over $4,000 to the
mile-and it is cheaply built road
whose building contracts show up
an average as follows:
Grading, (prisms averaging
II cubic yards to the lineal
foot) ........................... 1896
Ties NEUTRALITY-SUSPICIOUS.. $50
Rails................................. 1,SOO
Station houses average of
81 ,5OO) $50
Right Of way (did not cost
one half OF f)....................... 100
Bridges, culverts, masonry,
fences, telegraph lines, etc.. $50
Salaries and Doodle to politi-
1anS....................... $50
Laying tracks, side tracks,
spikes, castings, frOgs........ 600
Total cost per mile. .............. $5,Os6
per mile. e.......... $3.50
1886
This is what the Winona & st.
Peter, cost Mr.. Robinson, and every
dollar in excess of ''invisible extras
was paid by ''invisible bonuses - e
Gale. interest on this then on 49,
600.
Now let us see about profits: The
414 miles at 81 800 a mile make a cost
of $3, 10000. 1t may be said that
our estimate of cost is still unjust.
The reader will see that our fig
ured cost from what documents we
have been able to secure has been
increased from 1886 a mile to 81 500
a mile. This has added $47, 900 to
the cost-more than enough to pay
salaries while such q road is build-
ing.
Six per cent on $3,1O5,OO
~ amounts to::......... 800
Now what did they pay for
interest on Is, O0O, 900 of debt.
Why they should have
paid the enormous sum
of..;;.;...::;..;.:.........:..::. ,OsO, 900
Now Mr.. Robinson tells us
. that they fell short. ........ 100000
So the amount the false debt
received as interest was. S63O. .OOO
And legitimate interest was 1S6, 400
Leaving surplus of legiti-
mate profit of....................... 4443 4443, 200
If these figures be correct. instead
of coming out behind !45O. 900 the
Winona & st. Peter came out ahead
that amount-Or 443, 700!
You say they will not compare
with the railroad reports! But we
reply, the railroads do not dare to
give any reports. he alliances of
the state should offer a challenge
bonus of 5000 to the road that will
furnish all of it's contracts of con-
struction verified under oath.
More Food for Mr.. Rohipco,