Chicago eagle. [volume] (Chicago, Ill.) 1889-19??, 1897-05-22

rail. We would put THAT on a white
pine stringer Oh sleelpers six feet apart.
We would then buy horses: We would
have ours built: we would buy a large
tract Of land ut the end Of our road and
build our cur barns, ctc. Now. after
twenty years we would 70 to sale.
We sell our street cur tracks for. per.
hal's. ~ per cent Of what We paid for
them. Our horses would bring. per.
haps, One.thlrd Of what We paid for
them. Our cars would bring about one.
hnlf whGt they cost. The real estate
would bring from four TO ten times what
We paid for II. 80 when this whole
thing came to M end there would bc u
very little loss In the deal. There
would not have to he making up Of
the whole Of this capital and the get
ting Of interest on the Investment. as
there would he to-day.
"When a man goes Into IN invest.
nlent, particularly II It " some new ven.
turc. he does not expect merely to get
bis money hack and fair rate Of inter.
est. That IL not what he goes into che
venture for. because he can get mort.
gages aud plenty ~ things OF that kind
to put his money In without any risk.
He will not only calculate to get his
money back. but he will calculate to
double his money.
"NOw. what ls the condition Of AZ.
fairs! Instead Of having this light
track. instead Of horses AMI horse cars.
We put In cable road which cost xi:O.-
OOO for double track mile: We put In
an electric line which cost x5O.OW for
u double track mile: We put In machin.
cry ut one station alone which cost III
$thO.OGO. That IL outside OF buildings
land or anything else. Instead Of put.
ting In a plant costing $lOOOOO we put
In plant costing $l.OOO.OOO.
I'VE have spent In the last twelve
years $l0.OOO.OOO. What fOry To I'm,
prove our roads. to extend them. ia
change the motive power. Tho Yves,
Chicago Road has been changed tn ee
different times. That IL to say. u great
| portion Of It has been rebuilt three
times to keep up with the improve,
mcnts that We're going on. The cable
roads have been changed twice. Two
entire new roads have been buil,.
Now. instead of thirty-iive pound
rail-. the street cur companies Of CHI
cagO have to have u heavier rail than
Is used on any other road In the InIic,
| States. We put In now ninety three
pound rail. and We find that il IL moi
any too heavy. The heaviest steam
iail IL IN eighty-tliree pound iTll. but
strange as Il may seem, We need II; VT
have to have 1t. We ARE now putting
In nothing hut u nine-inch girtlie rail
The only way ! can explain this IL by
saying that In the case of the steam
road there IL u sledge hammer cOnCns
sion every time u train goes over lh'
road, while with the street railways
there IL a small hammer, hut II " go
Ing. going. going all the time. and I
| will knock out the Joints u great dea
| quicker than will the locomotive on q
steam road.
~ state these things to show that al
this takes money. To say to the cup
italist, You have got to make YOU
money there. and you have got to make
your capital back and make good In
! terest, and you have got to do 1t II
twenty years. or In fifty years.-gentle
men, you could not get anybody 10 In
vest money on such terms.
''rhese amendments that have heel
proposed suggest that We shall accep
an extension of ordinances for thirty
i've years. l bow myself In humble