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1869 September A letter accounting for the interest due on the U. P. R. R. account

Title

1869 September A letter accounting for the interest due on the U. P. R. R. account

Description

An accounting is given of the interest due on unpaid monthly balances from the U. P. R. R.

Type

Correspondence

Sender

T. W. Ellerbeck

Recipient

Unknown

Date

1869 September

Location

Salt Lake City, Utah

Number of Pages

2

Subject

Financial Matters
Railroad
Business Matters

Calculations of Interest due on balances of monthly estimates not paid as they become due by the U. P. R. R. co
1868

July         Estimate settled when due
August         do  "  do
September  do  "  say do.

October
1860
Nov 20 This estimate due at date          352.790.66
21 Paid Cash 200.000 mdze bills          239.197.73
                                        39.197.73        113.592.93
Dec 7 Int on $113,592.93 16 days @ 10%    504.86
                                                                114 097.79
                                                                  80.000.00
Balance due carried to last page            $34.097.79
November
Dec 20 This Estimate due at date          376.690.89
                                  " Bill mdze               31.677.21
                                                             $ 345 013.68

27 Int. on $345013.68 7 days @ 10%            670.86
                                                                 345.684.54
                                                  " Paid          150,000
                                                                 195 684.54    
                                                                           1869
                       Jan 12 Int 16 days 10%            869.70
Paid                                                        1000 000.00
Balance due carried to last page            $ 96.554.24

Jany 20. This estimate due                      190.232.36
Paid mdze 24.245.67 Deposit 100 000    125 245 67
                                                                 $ 64 986 69
Feb 5. Int on $64986.69 1/2 mo @ 10%         270.78
                                                                   65.257.47
                            "  Paid                           100.000.00
Overpaid Balance carried down $             34.742.53
January
Feb 20 This estimate due                    $ 184.165.73

" Paid mdze 26107.56 Deposit 150.000 176 107.56
                                                                    8 058.17
Mch 30 Int 1 1/3 mos @ 10%    89.54
$ 8 147.71

1868 Balances Brought Forward      Dr     Cr

Dec 7 Balance due from October estimate 34 097.79

1869
Jan 12   "   "   "   November   "     96 554.24

Feb 5." overpaid " December          34 742.53

" Int.1 28/30 mos on
$34097.79 @ 10%              549.36
" " 24/30   "  "
96544.24  "  "       643.69
Balance carried down                     97 102.55
                               131.845.08     131.845.08
                                      ---------------------------
Balance brought down                    97.102.55
Mch 30 Int 1 25/30 mos @ 10%       1 483.50

February
was final Estimate, and not payable till Mch 30.
Recapitulation of Interest on Monthly estimates not paid:
calculated to Mch 30 1869. @ 10% per annum.
Interest on October estimate                   504.86
                                           670.86
"     " November     "            869.70       1540.56
"     " December                  270.78
"     "  January                       89.54
Balances brought forward  549.36
                              643.69
1483.50 $2676.55
Int. at ten per cent.!            $5082.29

The above interest is calculated only upon the amounts which should have been paid monthly on 20th of each month, but remained
unpaid as shown on pages 1 and 2.
Final Estimate should have been paid Mch 30 1869. and Interest is chargeable after that date as set forth in claim No 1. at such rate as may be agreed by arbitration.

Judge ------- If the U P R Co allow the claim of interest charged at 2% per mo. the rate chgd here by the Bankers on money loaned and overdrawn accts, it will be probably sufficient -- but if we are ruled down to a low rate then they should allow interest probably in their monthly deficiencies as per the foregoing statisticts.

T. W. E.