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Span Classsearchtermspan Classsearchtermcollectionspanspan of S
Russell, Charles Edward, 1860-1941
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Central Pacific 1, 074, 000 9, 907, 000 6, 825, 500 ?s, 428, 000 53, 700 546, 9" 322, 125 i, oo8, o=;4 1, 280, 000 12, 896, 000 I2, OOO, OOO 67, 275, 500 2, 354, 000 22, 803, 000 18, 825, 500 102, 703, 500 175, 000 3, 445, 542 1, 404, 935 14, 219, 569 2, 179, 000 I9, 357>458 17, 420, 565 88, 481, 9?! On all this huge volume of water the pub- lic was required to pay the rates that fur- nished the interest, and the company could not afford to make a reduction of eight per cent in the grain rates ...that were throttling the farmer. ALL THE FARMERS ASKED WAS $IOO, OOO ANNUAL RATE REDUCTION How much of actual annual reduction in income would be produced by this reduction? How much would the company lose if it allowed the new schedule to go into effect? At the most $100, 000 a year. Let's look into that. One hundred thousand dollars a year. At five per cent, the annual interest on the water on the capitalization of only one line, the South Pacific Coast, would be more than five times this amount.
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