The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1894-12-22
AN IMPORTANT QUESTION.
viii the Westminster and Union Mills
Electric Road Pay?

The directors of the Westminster L Union
Mills Electric Railway Co. believe that their
proposed railway can be built for about $4,000
a mile. This includes the roadbed, the main
and feed wires, power house, passenger and
freight cars. The estimate of cost is slightly
above this figure, but the directors believe they
can go below the estimate somewhat, and
that $40, 600 mile will easily cover the entire
cost.
The proposed road is nineteen miles, from
Reisterstown to Union Mills, and not over
$3.50, 600 will be required. Indeed it is thought
that if the Company can secure about $780,
600 in stock, $50, 600 in bonds, at FIVE per
cent, can be sold at par, and S1S0,O0O will
suffice for building and equipping the road.
Now will the road pay? No definite an
swer can be given, or rather no assurance can
be given. The directors believe that fair
dividend can be paid on the cost of construe-
ton and equipment and considerable sum
be carried annually to a surplus fund. The
road from Pikesville to Reisterstown cost
about S15, 200 mile, and the bankers readily
took the bonds of the road. The bonds re-
presented about two-thirds of the cost of the
road, we believe.
If road from Pikesville to Reisterstown. at
cost of SIS, 900 mile, will pay, road from
Reisterstown to Union Mills. at a cost of less
than $40, 600 mile, will certainly pay well.
This road will have all the through travel, and
it is belived the local travel will be greater per
mile than on the Pikesville and Reisterstown
road. We do not think there can be much
doubt of this; in fact we believe that the local
business ON the road from Reisterstown TO
Union Mills will be at least one-fourth per
mile greater than on the road from Pikesville
to Reisterstown. Besides about SIX weeks
camp-meeting there is nothing to stimulate
business on the line below. The road from
Reisterstown to Union Mills will have the
camp-meeting season as well as the road be-
low, and will have besides the attractions to
Westminster during the year, the special
events Mt Pleasure Park, near town, and the
local travel in Westminster. which will be
very considerable. The travel from here to
Gettysburg every year will yield large rev.
enue, and the children going TO school in
Westminster and the ordinary travel to the
county seat will be a considerable income 10
the company.
A net revenue of $500 per mile will enable
the Company to pay five per cent. upon the
cost of construction and equipment and carry
$500 to a surplus fund.
The steam railroads of America last year,
very dull one, paid an average net revenue
of 50, 04S per mile. Very many of them are
parallelled near large cities by electric lines,
and the revenue was not as large as usual, and
some of them run through sparsely settled
rural sections.
If the Westminster and Union Mills road
can do one-fourth as well, and there is every
reason to suppose that it will do better, there
will be no question of the enterprise paying.
When the road was first projected it was
generally supposed that the stock would be in
the nature of gift to the enterprise. Even
the directors regarded stock subscriptions in
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