Sale Of Railroads

A correspondent ol the Detroit r reo Press, ndvocotes tlic sale of the Central and Southern Railroads together, and submits to the pcopie a Synopsis oí' a bilí for that purpose. As we deern every thing reluling to this subject of more or less importance to the peóple, wcsubmit thesc propositions to our renlers, w'uliout, however, endorsingthem. "The Central and Southern Ruilro;ids arnl thf Tceumseh Branch shoulil be sold jointly. Capital íG,O0OiOOp, with powcr to inciense thc same il hec'cs.'wiry, to complete nnd rc-con-tiiM-i íhc toadi Stmr.-s- $"iüü cach. 'J'lio Stutc to own ;iö.0(IU sluucs. Th.rec or more persona to be uppointed Commisstonéh toopen books for the subscríption pl Stock on tlie d;iy niuned in tfits city of Detroit; rind itic (Jovornor to appoint two in the city of Boston, nud tv.o in the city of NW Voik for tho ■-.iiii pui The sübcribcrè todefeiRnntc at thc time ofsub3cnption wlmt pöftïoh r.t" tln-ir suhscriiition, if uiy, wnsto bopsid tn the ncknowlcdgcd iül-'nt:dness oí tlio ölatt-, and wlmt poriion m money. Ten per cent of èubscriplion to bo pai.l in lióhey to Co rii in ssfon era ;im.I iho residiie to lic Diioutors alter ihc brgahizá'tf'dñ of the comjany at pucIi tinvs ns they may require. If more tlian '.tt.OUO o! tho shares to bc lnid or in state mdebtedness hnll bc Bubscribed for, lie Conimissionrr shdll nreke n just and eijuHa)le distribution tlifn-of atuun:.' ÍOh :■ v. r.iUuh. and in likc nnuuiir it' more ihan 3,000 )t thc mpney hares nre Bubecrib?d fr. 'l'h. e subacribirigior stock to bc paid for in SfatetfBbïlitiefl have CertiRcitèa iherefor on ÚW pnyment of felQO of t-uch li;ib;litieo or moncyvvithin thiriy daysafi-r the distributiou. If the whioíe munter of 3ö,0:)(J eb all not be subsenbed'ánd'paVd for as'ab'óvc, thoác (hht rèmr.in shall bc subject to disposal ly tho state on tbc suno trniisns if.thcy bad been subcribril í'or. ybcre 2p,0Qp shares payablq in ru.qn.cy sh (11 have boen Bubscribed for. and tbc ten per cent paid, surh sluin-hoUU-rs topetber witb Btich ns may hnvc recoived certitu-;it'' by payni'-nt into tbc stnlc tna?-iny, tluill elect of tlu-ir owu nuinbcr, bix Dircctors, cach Bbaré bcing èntitlcd to a vote, the Slulc baving no vote in the cluuee of snch dircctors. Al the sanie time tho Gov. shull nppomt thrce Directora, who sluill hen-after tmnu;i!ly be ap pointöd by the (Jovernor, by and wifh tlie adyjee and consent of thé Señalo, who shnll réceive from the coinpanv tin; ;mo romuneration for thoir service as the oiher Direetors ïeccivc ior like servicep. 'A khc li'litP and intercsts'óT the Ftnte in uid to hë Central ánd Söfftnerri ro.uls and the Tecumseh bnmcli, c,ir., in;u-hiiu-ry, machine shops and property connected thcrewith to become Uie joint property of the Mockholders and Btatein proportlon totheir respective shares nnd tobcmana.-d and conlmlled by a niajorily o( the nine directors elecled and appointcd annnally. 'Ih Central raüroad to be reconstrueled B8 directed by tlie present bil], and the Southern and Tccumsch Branch o bc kept iri repair nnd run daily for the conveyance of fniiilit and pnsseners, and wiihin u reasonable time the Southern to be extended to conneet with the Central at Mnrahall.Thr United States mail tobe conveyed over said roadfor such compensalion as three men, or a majority of them, one tg be appointed by the Company, one by ilie Postmaster General and the otlier by the Governor ol" this state, shall deern just and ren sonable. The charter not to be rcpealcd by the legislature unless full restitution is nmdc by the state to the shareholders. The Company not to chnrge for stomge foi frirght at any depot whcre there is a wan-housc at such place doing business uuless they shalt bc 8pecially diroctL-d not to delivcr such frieght to such warehouse man - norto chantre tlie present route of the roador location of nny depot so as tó afloct tlie interest of tho'se wlio nmy have irivested nioncy in warohoue?, without. tht-ir consent. None of Ilic receipis of the roads to br expended in txtehdingarid rc-constructintr tlie same until the whole capital to be paiil in mony shall riave been e.haus:ed, and the nett profits to be diyided nnnually árriong (he stockholders.