AMERICAN RAILROAD ENTERPRISE.

South Canterbury Times, Issue 2447, 21 January 1881, Page 3

AMERICAN RAILROAD ENTERPRISE.

(“ Alta California” Dec. 18.)

The active, widespread and immense movements in railroad enterprises ; the plans, proposals, actual construction of them; the combinations of those already constructed ; the oppositions that have been, and arc continually being organised ; the struggles of each road for business; the cutting down of fares, arid the reaching out in different directions jb.y means of railroads even to and beyond our borders—even to the City of Mexico—by companies organized by the most influential and far-seeing capitalists, constitute a new era in railroad life and enterprise such as this country has never before known. And naturally this almost fever for railroad enterprises is sufficient to cause thoughtful men to pause and inquire. What are to be the results and effects of such an unwonted spirit of railroad adventure ? Undoubtedly the immense products in the shape of gross earnings and clear profits have had much to do with this great excitement in railroad matters. The earuings of forty-six of the principal railroads of the country, and embracing all but two, during the past year, amounted to 139 000,000 dols, of which 101,000,000 dols were net profits—3l,ooo,ooo dols for passenger fares and 101,000,000 dols for freight. Without stopping to discuss the merits of the charges to produce such amounts, it is evident that the idea of earning 101,000,000 dols : a year is enough to give railroading an immense lllipfitlJSf «, When such splendid profits accrue it is not strange that moneyed men become imbued with the idea that railroading is the broad and royal road to princely fortunes. And so we sec the men ox

enterprise as well as of v wealth alive to the grand opportunities of opening up new sections of the country and new sources of trade, and consequently of grand profits. The success of the Union and Central Railroads has given renewed life to the great Northern Railroad now in process of construction westwardly from the western shores of Lake Superior to Puget Sound. Meanwhile, another road across the Continent, the Southern Pacific, is progressing eastward as fast as money can drive it. Already it is thirty miles beyond the Mimbres, in New Mexico, about 250 miles beyond Tucson. Soon it will be intersected with other railroads progressing southwardly toward, the Mexican border, apparently pushing for Guaymas, and eventually to the City of Mexico. From the terminus port, it is understood, the Company will have a line of large iron ships, six in number, the first year, built with reference to security in many respects, and particu larly a capacity to carry grain in bulk. It is understood that they will be constructed with five water-tight compartments, and security against shifting of cargo thoroughly provided.