Idaho news. (Blackfoot, Idaho) 1887-1891, 1889-07-06

that paper says, lis equivalent 10 al
most one-thfrd the mileage Of the
country. II the business OF projecting,
incorporating and building continues
in the same ratio, before 1889 is done
nearly as much mileage will be under
way us the entire mileage Of the coun-
try, now in operation, amounts 10.
The Age thus tabulates the length OF
Miles
Twelve New England and Eastern
Solhb5b-. observation-disclosures BstJf
Five Central Northern states. ....... 5,22S
Seven Northwestern States. ......... ~. 1872
Five Southwestern States. ...........1 II SOC
Ten Southern States. .................J2, SsJ
seven Pacific states. .......-.......... 5,54j
There can be but one outcome ID
this I'D imitation and that is whole
sale bankruptcy. Railroads that run
from somewhere TO nowhere or. as in
many instances, from nowhere to no
where, can not but have disastrous
financial history. There are to-day
five tIans-cOntinental lines in America
with a sixth well under way. The
| Canadian Pacific which constitutes
the fifth, does not find business
| enough 10 warrant but six trains n
week to and from the Pacific coast.
But for the tremendous subsidy from
the Canadian government il would
| probably be forced TO reduce even this
| number. One trans-continental line
could do all the Pacific business, still
the work of extention goes Industrious
LIZ on. One railroad now being built
ia Washington Territory viii be from
two hundred and fifty TO three hundred
miles long. One hundred miles are now
completed. The most difficult part Of
the engineering is to overcome the
mountain passes. Its advocates con-
WINGED lot Of New York capitalists
more than fortnight ago that the re-
naming distance could be constructed
for about three million dollars and in
consequence two million dollars worth
OF the bonds were placed When these
two millions are exhausted there will
be call for couple OF millions more
to take care OF them and then further
calls for more millions A man not in
terested in the enterprise saws not less
than ten million dollars will be re.
quired before the first locomotive can
roll from Seattle 10 Spokane. Necessa
rily before this interesting inciden;
takes place there win be numerous ex
capitalists in the northwest and ii
New York engaged in the monotonou!
occupation OF holding a bag.
This case is not I'm isolated one
There are hundreds OF others that will
show as wide a discrepancy between
estimates and the actual. Before the enC
of 1889 the public will have been urged
, 10 subscribe more than billion dollar.
to further these schemes. The bushes.
! Of paralleling lines is now as active al
ii was when the Nickel Pate and tht
. New York West Shore were constructed
/ The projections are for the most par
speculations. They can not be other
wise in country whore there are al
ready so many railroads tn 1t a larg
E minority OF them are in the hands 0
} receivers. There Is no conservatism
{ in the business. Capital which in mos
4 Of cases is exceedingly timid in railro
business is wildly reckless. 1t ne
OURS no more than highly colore,
map of the Frog Point 4 Bu
gleiown railroad, accompanied by tn
unsupported statement that a goo
deal OF wheat is grown along this lin
! TO make capital clamorous to buy tn
I. q i. bonds at par or possibly at
slight premium. One of the North
western railroads opened for bushes
not many moons ago, was built 70
about $4,000 a mile. Bonds OF tina
railroad were placed in New York a
$1,000 4 mile. OF course the builde
| made money. big money, but what
l 10 become Of the bondholdar this year
I or not later than next?
There has been no railroad crisis L
America for sixteen years. This trC
mendous railroad imitation may b
but the precursor Of another crisis NOR
disastrous than the one Of 1873. II
s | FINES