Richmond palladium. [volume] (Richmond, Wayne County, Ind.) 1831-1837, 1836-01-30

as the sane can be done in 9 manner best
calculated promote the public interest.
S,h. And the said Board arc hc,eby au-
thor,zed and required to cause, during the
present year, survey and estimates To be
made Of Canal if' practicable, ii not u rail
road, from the Wabash and Erie Canal at
or near Fort Wavne, by the way Of Co.
saen and South Bend. nd Laporlo, If pssc-
ticable, to Lake Michigan, at or near Mi
chigan City, to be called the Ere aud
Michigan Canal or Rail Road; said route
TO be kept within the limits of this state
For the commencemen OF which, within
10 years, at the discretion Of the said
Board Of Internal improvement, and the
6na; completion Of the same, the faith Of
the state is hereby irrevocabiy pledged;
and the money necessary to construct the
said work shall be obtained in the same
manner as is provided for other works in
this act.
Sec. 8. The said Canal Fund Commits
sioners are hereby authorized and required,
on behalf Of the state to contract with any
company, or corporation, at
such times as they may be directed by the
Board Of Internal improvement FOR loan
or loans, from time to time, in all not ex-
ceeding the sum Of ten millions Of dollars,
on credit of twenty-five wears, said loan
or loans to be at rate Of interest not ex-
eeedng five per cent. per annum, and to
be so negotiated that the same may be
drawn and bear interest at any time as
early as practicable when they may 10
ADVISED by the Board of Internal Improve
ments that it will be required for the pro-
gress ofany Of the works Of Internal I'M
prOvement 10 which the same has been ap-
by this act, and the said Com
mlssioners Of the Canal Fund shall issue
for sach loans transferable certificates Of
stock in the name Of the State, which
when signed by them shall be valid; and
to facilitate the purposes herein cOntem-
plated the Commissioners Of the Canal
Fund shall have power to make such ar
relative to obtaining loans, the
payment ofnterest thereon, and the trans-
mission and deposites of money, as they
NAV deem conducive TO the interest of the
state.
Sec9. For the punctual payment Of the
interest and final redemption of the pril-
cipal Of all sums Of money which may bc
borrowed under the provisions Of this act,
there shall be and hereby are irrevocably
pledged and appropriated, the Canals,
Rail and Turnpike Roads, with the por-
tIons of ground thereunto nPPe raining
and privileges thereby created, and the
rents and profits Of the water power there
of, together with the nett proceeds Of tolls
collected thereon, he suf.;cicncy of which
Tor the purposes aforesaid the State Of
Indiana doth hereby irreyocab!y guaran-
tee.
Sec. % That It shall oe lawful for the
Lawrenceburgh and Indianapolis Raj: Road
Company TO receive IN payment of stock
therein, to the extent Of five hundred thou
sand dollars, the bonds Of stockholders
payable to said company in twenty years
from the LIST day Of Jsnuary, 1896, with
interest semi-annuaily at the rate Of six
per cent. per aHnum, pay able at some one
Of the Branches Of the State Bank Of lndI-
ana, together with mortgages on real estate
Of the full value OF the real sum intended
TO be covered thereby exclusive Of perish
able improvements, which bonds and mort
cages may he assigned and transferred to
the state Of Indiana by order Of the Board
Of Directors of said company by endorse-
ment thereon. signed bv the President
and attested b. the Secretary of said
company in form following, viz: 1.-The
within is hereby assigned for value re-
ceiyed TO the state oflndiana."
| RUNAWAY STEAM ENGINE.
| One of the most curious circum-
stances in the history OF locomotive
engines occurred on Sunday after
noon, at the depot of the Leeds and
Selbv railway, at Leeds.-The fire.
men had lighted i fire under the boz
Ter of locomotive engine which was
to be attached to a train. and then
left it. The steam got up sooner
than they had anticipated, and the en-
gine set off without either guide or
train. and being unincumbered, it pro-
ceeded with fearful rapidity. The
astonishment Of the fremen may be
easily conceived when they found
the engine gone and out of sight.
: The persons who saw it In It's flight,
were amazed beyond measure, and
it seemed literally to fly. At length
when the fire abated and the steam
. lessened. its dangerou. speed gradu-
allv slackened. and it finally stood
. still in the Milfor cutting, distance
!; of twelve miles from Leeds. 1t is
-