198 HISTORY OF THE GRANGE MOVEMENT; OR, 



CHAPTER XI. 



WILD CAT RAILROADS. 



False Assertions respecting Railroad Property Railroad Building a profitable 

 Work Useless Railroads Why they are built Theory of Wild Cat Rail- 

 road Constructors Forming the Company A Specimen Enterprise A 

 Share of the Public Lands How to raise Money to build a Railroad Dis- 

 posing of the Bonds Where the Money comes from "Judicious Advertis- 

 ing " Bribing the Press The Road in Operation What becomes of the 

 Stock Where the Profit lies The Crime of the Bankers A Confidence 

 Game How to stop Wild Cat Railroad Building. 



ONE hears a great deal now-a-days of the risk assumed 

 by men who undertake the construction of a railway ; 

 and we are told, with a great array of figures in sup- 

 port of the assertion, that railway property is among 

 the least profitable of all the investments open to capi- 

 talists. But, nevertheless, the work of building roads 

 goes on, and it is a fact that the incorporators of these 

 enterprises, in spite of their assertions respecting their 

 risk and the uncertainty of their investments, make 

 large sums out of their connection with their respective 

 schemes. 



The truth is that railroad making is a very profitable 

 undertaking to men who understand their business; 

 and it is for this reason that so many useless roads are 

 built. That railroads are a necessity to the community 

 no one will deny ; but it is a fact that a very large 

 number of the roads constructed during the last four 

 years, or at present under construction, are useless. 



