Railroad and Telegraph and Telephone Lines in Alaska
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| Partner: | buecher.de |
| Hersteller: | Forgotten Books (Shipp, Thomas R.) |
| Stand: | 2015-08-04 03:50:33 |
Produktbeschreibung
Excerpt from Railroad and Telegraph and Telephone Lines in Alaska: Hearings Before the Committee on Territories, United States Senate, on Bills S. 6937 and S. 6980, February 10, 1905; Bill S. 191, January 27, 1906; Bill H. R. 18891, January 25, 1907, and Senate Document No; 167, Fifty-Ninth Congress, First Session Senator Nelson. You mean from Eagle, do you not? Senator Dietrich. From or near Valdez to or near Eagle on the Yukon [indicating on map]. Senator Nelson. To that point? Senator Dietrich. To that point, a distance of about 450 miles. They will, upon your recommendation of this bill, deposit with the Secretary of the Treasury an indemnifying bond or a guaranty bond to be satisfactory to the Secretary of the Treasury; and they will commence the construction of that railroad within ninety days from the passage of the bill, under a bond of $250,000. The amendments to this bill will provide that they will construct the wharves necessary at Valdez, and not less than 50 miles of that railroad within two years; they will also provide that they will commence the construction of the permanent improvements at Valdez within ninety days from the passage of such a bill; and this guaranty bond of $250,000, as I stated, shall be passed upon by the Secretary of the Treasury. The Chairman. Senator, why do you fix 50 miles and within two years as the minimum? Senator Dietrich. They could not safely undertake to construct more than that; but the bill will provide that they shall complete the entire 450 or 475 miles within five years. The Chairman. That is, the bond will so provide. You said the bill. Senator Dietrich. They will construct the entire road from Valdez to Eagle within five years, and this bond shall remain in the hands of the Secretary of the Treasury as a guarantee that they will do their part according to the terms of the bill. They ask in return that the Government will guarantee 4 per cent interest on $30,000 per mile. Senator Nelson. This says $40,000 per mile. Senator Dietrich. Forty thousand dollars per mile. The bill will be changed by amendment to $30,000 per mile - the Government to certify this guaranty of interest on the bonds upon the completion of each 10 miles of the road. I believe it will be wise for the bill to so specify. My opinion is that no individual or company could, in case of a panic, construct that railroad complete from Valdez to Eagle and secure the needed money to do that unless the Government guaranteed interest for each 10 miles. The Chairman. Just for information, Senator, I would like to ask this: Does that not practically amount to the Government building the road itself, these gentlemen acting as the Government´s agents and making whatever profit there is? Senator Dietrich. No; it does not. It is estimated, and I believe it is true, that that line of railroad will cost not less than $40,000 per mile. You have a report now from the Secretary of War of a survey and estimates made ior a wagon road, for which you appropriated $25,000, showing that simply to construct a wagon road would cost $1,500,000, and the cost of maintenance would be very expensive. Having now stated the terms of the amendments which are attached to this bill, No. 6937, I do not think it is necessary for me to take up any more of your time. I know that in this bill I represent men who will absolutely carry out their part, and it is not necessary to dwell at any length upon that. It is a business proposition pure and simple which is now submitted to you. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com
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