Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1845-04-03

either quarter, the result anticipated by many, was
that after the Road reached Edinburgh, it would go
no further for years Under these circumstances and
from the consideration that the SO miles South of In
dianapos would always less for repairs than the
other % miles, the Legislature at their late session,
passed the annexed Law, giving further privileges to
the Company. They now to have the States por-
ton of the Road for eight years. at the present rent
81 l52 Oh year, condition that it is completed to
Edinburgh in one year, and to indianapolis in three
years from the first of July next. This law viii with
out doubt secure the early completion of the Road
The present Directors and stockholders, who have
deep an interest and who with but few exceptions
have united III lending their private credit TO raise in
advance for the Road to progress, win 60 still
further if neither additional stock the Bonds Of
the Company can be sold. At the out set, from the
present liabilities and their increase until june for
the work now going on there may be difficulties /;
STILL there appears to be choice, for the Directors,
as sound business men, acting for the Corporate and
their private interests but to proceed at and put
the heavy sections under contract. The whole line
can be prepared within two months and the light sec
tons be afterwards let opportunities offer and
the means Of the Company admit. 1t is understood,
that the Iron be had credit, and that response
bic persons stand ready to do the Grading and Bridg
ing on terms that may be accepted, if others ia
vorable are not offered. 1t will relieve the present
stockholders from much responsibility if stock be
subscribed, but if it be not the Road must, at all
events be finished to Indianapolis without any need
! less delay.
! In this arrangement between the State and the
Company there can be no doubt that it has and will
contribute TO the mutual advantage of both. The
State had shown neither prudence economy in the
management of the Road and but for the Company,
it must, before this time, have been abandoned alto
gether For accounts transferred and for rents and
dividends the State is the of stock to the
s. $50 80, which, with future rents and divi-
dends win derive the same profits other stock. At
the end of the eight years, the additional profits from
the increase of business the Road, occasoned by
It's extension and the enhanced value thereby given
to the States interest viii than compensate for
any supposed loss; in the mean time, and when the
Charter expires, the privilege Of buying out the Com
pany for the amount it shall have paid for construction,
if per cent dividends shall have been made, wiul-
tmaely from the large increase of business and pro-
fits contribute largely to relieve the State from its
barrassments.
The advantages to the stockholders will be more i'm
mediate. If their means shall be expended with as
much prudence and economy they have been here
tofore, and if advances for time can be had on their
Corporate private credit, the profits of the Road
before the eight years expire, will than pay for
its completion with all interest and charges. The
capital stock WILL from dividends alone have ncreas-
ed to more than three times It's present amount and
the then Capital viii be entitled to reserve small
fraction two-thirds of the Profits until the end of
the Charter and afterwards, before taking possession,
the State must refund to the stock holders the whole
amount they shall have accumulated to construct the
Road and supply Machinery, &C., say from 100000
to $4,000
These calculations of profits are so out of proper
ton to the amount of money required that many will
be tempted, without examination, to brand them as
visionary but if Rail Roads are to he here what they
are elsewhere, vastly preferable to any other mode
Of transportation DEVISED and if there cannot be-
for reasonable expense, any other mode Of to
the Centre of the State winch can enter into compe-
tion with this Road, is fully believed then, un-
less the soil and energy of Indiana bghted the
calculations here made viii be found less than truth
and reality will justify.
Where Rail Roads have been constructed, they
have generally given rise to much business and
vastly increased that which previously in existence.
Many proofs of this, may already be seen along the
OUTWARD FREIGHT,
From Febyudrg / 1914 Ia Febylt1rH / 1915