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How Our Railroad May Be Built

How Our Railroad May Be Built image
Parent Issue
Day
19
Month
May
Year
1871
Copyright
Public Domain
OCR Text

The condiiions on whieh the Pwmsylvmiia. Central RoilroadCSompany aids tho Toledo and Woodvilte, the Balt.imora, ühio, Toledo and Miohigan, and oonneofchitz roadsi wee : The local OOBrpanies furnish right of way, depot grounds, grade, brido, fence, and procure the ties. This wolk all done, and without a cent of tho uijney of the Pennsylvania Central road, preferrad stock is to bo iasued to tho local stockttolden to the aggregato amount of the expenditure ; and at the same timo common stock to the Pennsylvania Central, - as a gift or rdnitier, - to tho same amount plus five por cent., giving tliot oompaay thereaftor full and absolute control of tho lino. Theii the bonds of tho company are to be issuod in the sum of $20,000 per milo, which tho Ponnsylvania C;;ntral take, and with the procoeds iron, stock, build depots, and put the road in operation. The eaniings of tlic road are to bo appropriuted : lst. To payitig running expensos and inaking repairs ; 2d. To paymg interest on the bonds, and provide sinking fund ; 3d. To paying dividunds- if tho repairs can't bn made to gobble the whole - on tho preferred stock, not to exceed 7 por cent ; and, 4th. To paying the same per cent. on the common stock ; with the generous privilege conferred upon the preferred stock of being exchanged for common stock at any time. And the simo aid is promised to the Toledo, Anu Arbor and Northern Rail road Company. Now, wluii OUT company h:is prepared, - with its own inonoy and without extruneons aid, - its-road bed for tho iron, and purchased and paid for ita ties, 0,00(1 v.:t mi Ie will more tlian build the depots, irou tho road, stock it, and get it running. If the company can raise imongh to rnake the road-bod it will moet ■?rith no diSculty in nogotiating its bonds, getting the iron, and completing the vrork ; ar.Jata siiring of the common stock and control giren away under the contract offejred us. Will not the directora tako this common sense view of the niattar and go to work ? Up in St. Ciair county tho people arn enjoying the luxury of a double-headod ordouble-bodied court - or . were on Tucsday, tho day of opening tho term. The ono was being held at Port Huron by Judge MlTCTIELL and such of the jury as recognized the removal of the county Beat to that city ; and the other at St. Clair, bj the Sheriff, Clerk, and the othcr portion of the jury panel. In these days of costly law, counties are acareo that can afford two county soats, two courts, etc. We can't teil which of the towns will come out ahead in the rauddlc ; but it is easy to predict tbat tho county at largo will have the bill to foot whiuhever is wTefithed as victor. - Wouldn't it be better to get M.vcf. and Codurn to fight it out. That would be at least a peaceful fight. Detuoit has determined, by ,íhe joint act ion of the Council and a citWen's meeting, to inaugúrate its now City Hall - a building doing great credit to the " City of tho Straits " - by a grand Fourth of July celebration. A prominent discussion in connection with the affair is whether liquore shall be furnished at the banquet. Those who remember the disgraoeful scones at tho culebration of the opening of the Qreat Western Eailway, - WE nv men lying drunk Viotli under and on the dinnor tables, - or who care for the moráis and good name of tho city, should vote XO. Enough of the " crittcr " can bo got outsido by those who mutt have it, and the banquet committee should exclude it from their bill of fare. TnE roBult of tho reoont elcction in this Stato is at last officially announccd, and may bo condensed as fullows : For Justict oflhr Suprr.me Court - For J. V. C'ampbr-11, liep., 93,209-18,529 " D. . Hugbe, Di m., "1,740 " A. Williums, i'robibition, .017 Imperfect., 331 Toto!, 17O.M7 For Bagtntt qf Qu OMvanüf - For C. B. Orant, 91.T75- 17,704 " Cliar'.us Hyn-I, K,7!l-l:,el7 " .1. M. B. SOI, 74.074 " C. B. l'onton, 72. on Wilder S. Poster, Republican candidato for Congress in tho Fourth district, to fill vacancy caused by tho promotion and rosignation of Hon. T. W. Ferry, has a majority cyer W14, M. Ferry of 5,481. Tin: Sonate has not yet, so far as tho publio is adviged, progressed vory far in oonsidering tho pending trcaty. In faot, it lias given mo3t of its timo to tho investigation of tho premature pnblioation of tho document by certain of the New York dailios. If a Senator, offieer of the Sonate or employé of that body, has violutod its rules and disclo3ed its secrets, it is no doubt competent forit_to censure or administor punishment : that is if it can spot the guilty party. But further than that, what doos it propose to do about it ? Will it assumc to imprison or line corresponden ts or publiskcrs for their enterpriso ? We guess not. Mus. Lixoor.x and ÏAD carao homo from Europe a fow days ago, and havo taken up their residence, temporarily, in Cliicago. Iu New York tliey woro " intcivii'wed " by 11 female attaché of the Worlil, who Bbotrad horself moro curious than tho male reporter, and oqually importinent. It is high time leading journala mended thoir mannors in this respect. What concern ought the publio to have witli the goiags out a&d oomings in of Mrs. Lincot.n and Tab, or of the scoro of othor notables or nobodies weekly interviewed by somo penny-a-linor ?

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Subjects
Old News
Michigan Argus