The herald., 1895-02-24

riiy, not ours; -
permanent objective is Bakersfield, while
they are moving to better take care of
their San joaquin valley trade, and ulti-
mately secure more transcontinental con-
nections. This city should be equally
alive to her interests, and quickly bind to
herself by iron bands such road or roads
and stability of the city; and there is
nothing now presenting sc important as
the Salt Lake Railroad
This road, aside from its Importance
to the city, as great continental line,
virtually brings to our doors immense
deposits of excelen coal and iron, and
mountains of salt, clear as crystal.
How can this long cherished hope be
realized, all usual methods having failed?
This question may be answered easily and
promptly: Adopt the Cincinnati plan,
which has been thoroughly tested. This
plan has been fully published and no
doubt generally read, making it nm
necessary to go into details. 1t author
ICES Cincinnati to borrow a sum equal to
per cent of the taxable values OF the
city, at seven and three-tenths per cent in
terest This would represent first levy
nearly 80 per cent. greater than required,
as the borrowing in this case is based on
3 per cent. Under the law as presented
the largest levy that can be made for in
terest in any one year is two and one-half
, mills. This means that the highest
charge that can be made to maintain the
interest will be % cents on every 500 OF
the assessed taxation on the county tax
roll. There are less than 800 taxpayers in
this county paying taxes on $40, 200 and
over, and less than half dozen that pay
on half million or more, so that very
few would have to pay more than $25
per annum tax for this purpose.
1.-THE growth of wealth would soon
increase the tay rolls that the
levy proposed would create a sinking
| fund that would eventually pay the
| bonds, were no income derived from
| operating or leasing the road.
The chances are that road would be
| found so valuable that it would very soon
produce an income more than ample to
| pay not only the interest, but create
| sinking fund that would liquidate the
| bonds.
In the case of Cincinnati, the road cost
| not far from $7,000,000 On its COM
| pletion it was leased for twenty five years.
| The amount of rental the first period of
| five years was $S12 900 per year; second
| period of five years, 1912, 900 per year;
| third period of five years, was 81, ,012, 900
| per year; fourth period of five years, was
| $1, ,112,OO0 per year; fifth period of five
years. was 81, 262 900 per year.
| The fourth period will be entered on
in 1886, and the last period represents 5
| per cent annual interest on an investment
of $25, ,0O0000 with surplus of $12, 600 per
| annum to pay expenses of the trustees,
! whose duties are to collect the rents.
Every other expense is paid by the lessees,
| who are bound to maintain the property.
| The next lease will undoubtedly be at a
much higher rate. Comment is unnec-
| essary on such history.
The Cincinnati Southern Railroad is
| 33S miles long, and its cost averages but
little over $50, 200 per mile, being very
rnettv 30. ID
| it is in Ohio, and the first necessity was
| bridge across one of our greatest rivers,
| river that varies over seventy feet below
| high and low water, a bridge which is
compelled, by Congress to be carried so
| high as to not obstruct navigation where
| the largest steamboats, are used. The line
| is nearly all in Kentucky and Tennessee,
where other expensive bridges are re-
| quired, as well as great tunnels and heavy
| mountain work.
while the Cincinnati Southern was
constructed in dear times, and was one
| OF the most expensive roads in the
country to build the line you propose is
one of the cheapest lines to construct, and
| in very cheap times for construction. The
| Utah Southern road now has in operation
| to Milford 274 miles; there is completed
| from Milford this way, ready for the rails,
90 miles; total, 36i miles.
| SIT is safe to calculate that the persons
who have done so much to come this way
would meet the Los Angeles road half
| way; and this could be positively assured
| before any expenditures were made by the
| county.
1.-The figures heretofore given prove that
| the taxation could not be oppressive were
| you to conclude that you would not bor-
| row but put the whole authorization on
| to the duplicate at once. 1t would only
| double your taxes two years, and after
that would largely. help to pay your taxes.
| so Important an improvement that can
| be kabsolutely built without debt, at so
small charge, should not be lost Our
northern neighbors are doing more than
| that, voluntarily now.
Time is too precious now to waste any
on side issues. All that is being asked
| now is a privilege the Legislature should
promptly grant. After they grant the
| privilege, it then remains to be seen
whether the Supervisors can present any
| thing to the people that will be safe and
valuable enough to secure the vote neces-
sary to insure the success of the measure,
which is fenced around by every reason
able safeguard to prevent disappointment
"Should the authorities conclude to
! lease the property after it is completed
| there will be no lack OF bidders from several
roads now in Salt Lake, and others.
/ 'In the matter of coal alone it is worth
| all it costs the county. Coal is now quoted
| in Chicago, carried by rail from Ohio
|
| tance, at less than 50 per gross ton. Is
| there any reason that it should cost more
here from the Utah fields, less distance?
| "Or in the matter of passengers, this
| line so direct should give us lower rates
and faster time. Forty miles an hour by
this route would reduce the time to two
and one-half days between here and Chi
cago; and the time is not far distant
when we shall have faster schedules,
which would give two days on a fifty-mile
schedule to Chicago.
| And in the matter of our present ton
mage, instead of unstable rates that fire.
| quently change and are placed so high as
to simply let the producer live we shall
have steady lower rates that will bring
greater tonnage and profit to the roads
and more prosperity to the people, and
the 30, 600 car loads of fruit of the State
will not continue to be taxed two or three
times higher than some other things not
so essential that move in less volume
| Ex-Mayor W. H. Workman was seen last
evening by Herald reporter who freely
| told what he knew about the proposed
road, the route which it will take, and the
| country through which it will pass.
| I'm the early fifties I was enuaped in