Evening capital. (Annapolis, Md.) 1884-1910, 1890-05-13

Figures on the Drum Point Scheme.
A weIl-posed railroad man dis
cussiDg the proposition for the city
TO make an Investment of half q
million dollars in the mosscovered
Drum Point Railroad scheme, gave
the following Interesting summary
Of facts and figures:
When parties from New York
took the contract to build the Balti-
moro and Drum Point Railroad they
took it under the conditions that
they would build and fully cquip
tho road from Drum Point TO Balti-
more, through thc counties of Cal
vert, Anne Arundel and Baltimore
to Baltimore city for the bonds Of
the road amounting to 81, 500, 600,
the unsubscribed stock of the road
amounting TO 1878, 600, the State,
county and private subscriptions
amounting to $S4S, 900, as follows:
Cash from State, 1852, 900; Calvert
county bonds, 500, 900; Anne Arun-
del bonds. $500, 900; rights OF way,
500, 600; land at Drum Point, SIS,
900, and private subscriptions Of
1921 900, making total of resour-
ccs to build the road Of So, 1921, 900,
which was equal to S37, 1874 IL per
mile for the SIS miles, very liberal
allowance 10 build road that had
but little rock work and no difficult
engineering.
From their original estimate of
cost Of road, they show that it could
be built and equipped for SS47, 500.
After changing the line several times
they finally stated that the road
would cost 1900, 900. Let us see
how their figures have been handled.
they have expended on the road the
amount received from the State less
$4,000, which is $137 900, aud
about 500, 900 of their own funds.
To finish the road they claim II can
be done for 800, 600, which will in
clude about $500, 600 Of equipment.
This would show their public figures
to be excessive, being for actual cost
1892, 900, as against $1,000, 900,
publicly stated as the cost Of the
road; but even il the road cost ST.
500, 900, they would have surplus
OF assets over and above the cost Of
81. 921, 900; but allow them still
further reduction of 10 per cent,
discount on their bonds, allowing
tie bonds sold a. So cents, and they
gould still have after this reduction
OF 1926, 900 net surplus Of 81, $685.
600, or q profit per mile of SO, 1852
o..
1t is amusing to near this road
boosted up as being the means OF
reaching out and bringing as the
trade Of Wilmington, N. O., Attain
to, Birmingham, Richmond, Au-
pusta and Galveston. We hope that
business ably taken care of now, and
in better shape than the Drum Point
Road can ever do it.
First, we have the great Pennsyl
vania system, which, through the
Atlantic Coast Line, the Piedmont
Air Line and the Chesapeake and
Ohio system, reaches the whole West
and Southwest, the B. and D. system
reaches out in another direction OF
the Southwest and brings its freight
to our city. The Western Maryland
takes care of the Shenandoah Valley
and other parts of the Southwest,
and by different connections the
West Virginia Control and Pittsburg
Railway brings US the products of
heriterritory. Again, the Bay Line
of steamers connects at Old Point
Comfort with the q. and o. for
Louisville and the Southwest and
At Norfolk with the Norfolk and
Western for Virginia, Carolina,
Georgia aud Tennessee.
The Merchants aud Miners ves-
sells reach Savannah and Florida.
The Richmond aud York River
boats are run in connection with the
whole Richmond and Danville sYs-
TEN Of IS, 900 miles, and The Weems
Line Of Steamboats, are swift enough
and ample enough to take care Of
the trade Of Southern Maryland,
they going all the way up the Patux-
cnt river, as well "a on the Potomac
river, South, West and Wlcomic0
rivers.
A large portion of Anne Arundel
county il taken care Of by the An
napolis, Washington and Baltimore
Railroad, and in Prince Georges
and Charles counties the P0pe'z
Creek Branch Of the Baltimore and
Potomac Railroad takes good care
Of all trade in that portion Of South.
ern Maryland.
Baltimore. therefore, is about az