Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1847-07-15
For me State Sentinel.
Peru and EudianaDOIIS Railroad.

For The STATE Sentinel.
Peru and indianapolis Railroad.
The subject Of the Peru and Indianapolis Railroad
exciting much attention in the district Of county through
which is proposed be constructed; and il is believed
that there proposed road Of its length in the Western
country, Of the public interest and uiity II will be
The most direct and the most westerly connection in
junction with the Madison and Indianapolis Railroad Of
Vastly the interest Of the farmer in the vicinity Of the
canal; with ready transport at all times OF the yeaI he
would be hurried with his produce into Market 10 meet
the fall navigation, called the neglect of his
other business, but may take his leisure, the months Of
WINTER when market is the best if he but had access to
and TO his interest the vicinity Of the railway
from Peru to indianapolis, who aside from this improve
ment has facilities of market at all. South OF Indian
apo and between that point and the Ohio, the farmer,
between the Eastern and Southern markets The reciprocity
Of business through this channel between the North aud
South, will be beyond all calculation.
The Peru aud indianapolis Railroad Company viii be
ganzed the 9th day of this month"; by the election Of
Is directors, at meeting appointed for that purpose, at Tip
on in the county Of Upton. shortly after the organza
ton Of the company i believed, books will again be
opened and all the stock taken, necessary the completion
of the road early the 6is OF May, coming. All the
stock being taken, the road would SEEM could well be
completed IN two as IN twenty-five years-lhe limitation oil
the charter tweve-he time they have ope-
rating upon the Madison aud Indianapolis Railroad. The
the road be completed after ITS commencement,
conespOpdingy reduced will be the contingent and incident
al Of construction That all the stock will be
aken and speedily taken afew facts will here be submit
ted which, in connection with the universally admitted
importance of this roa must be evident 10 every who
will give the subject even moments candid investigation
The Peru and indianapolis RAILROAD will be seventy
miles in ength and estimated to cost per MILE with the
Madison and Indianapolis Railroad from Edinbug TO nd-
annapolis, will require for its competitions m the most sub
stantia and durable manner, the sum only OF Sl2OlO-
than half less than the cost Of the Court House in
the city Of Louisville.
The average cost per mile Of the Railroads completed 10
the United States will exceed twenty thousand dollars
while mile. third Of this win exceed the cost
of ours. Yet ailIoad stock is generally considered good
that IS the ncome in the shape OF tolls and chage gene
rally exceed the cost Of repairs, and the legal interest on
the expended in their construction. The Madison and
indianapolis Railroad costing than ours, with depot
stopping place thirty miles fom where, better
said from Indianapolis, yields the reports viii show,
handsome income and above the cost of It's repairs
the dividends upon the stock Of which, in the year 1874
were eight cent IN S45 ten cent, and IN the year
1885, thirteen per cent What may expect Of that
road then after the hst of September coming. when 1t Will
have been completed Indianapolis 1t will certainly do
much business; evidently more, far when
il shall have been extended to the Wabash and Erie canal
The northern end Peru aud Indianapolis portion Of this
road, without the Other would certainly be important
that without this Yet both taken ogether-the Madison
aud Indianapolis and Peru and indianapolis Railroads
uniting they would the Two most important thoToughiaes
in The United States serving connecting links between
the East and South would vastly important than
either without the other.
If them has Just been remarked railroad stock gene
rally considered good and road be made for less
than hd the average cost OF the railroads in the United
States and when made will be Of equal importance with
and constructed at far less cost than the Madison anc
Indianapolis Taioad which, with depot al present IN the
woods is good stock be made better IN September, wheI
finished indianapolis and still better by intersection
with The Wabash and Erie canal what terms can express
aud who adequate the task Of expressing terms ceseTp
tive Of The advantages aud importance Of this road.
By the chatter the shares Of stock limited T. so each
and by oIder of the Board Of directors, advance
dollars only required upon each share. Nothing vii
be required Of the subscriber until potion OF the road
put under contract, and perhaps two estimates pa
upon which, uuder the most favored prospects OF the
he urfnrf
successful operation Of the road, will not, In all proba
by, be Ieqad advance than dollars mon his
upon each share All the stock being aken this would com
petc the road IN two years. shorter time IMAM TIE mos
liberal minded could consider for this great woIk be
cOmplHhed. Yet if the day Of its final completion shall b
extended be yond this limit will be given the tim
within which 10 make payments that IN no point
view will be required advance than two dollar
monthly upon each shaFe from the commencement to th
completion of this road. This then would bling within
the ability Of every man 10 take at least one shares aud
hold that from the increased demand and better prices Of al
kinds Of labor and produce, wrought from the operation
upon this road every interest," OF citizen OF the whole
community may represented by least share
the holder be better off, Ing nothing about has Oad stock
the day Of great celebration when this great wor
shall have been compile than he would be- should neve
be undertaken
Ordinarily we know that loan of money under our law
for interest exceeding cent denominated usny
and Is forbidden under the most exemplary penalties. bu
charter permits dividends without qualicaon liml
ton restriction, until the iu amount has beea refunded
with six per upon them aud that from tn
Time OF nav ~" ~
dollars upon each share and may be two three years
paving the full amount of several subscriptions
When the full of several subscriptions may
have been refunded thus with interest," we are then restrict
ed by the dividend Of fifteen per cent upon tina
amount, Tor the term of seventy-fve years
This is the only improvement in the shape OF road tina
At present we can reasonably hope or but give this
W be given population aud wealth enough lev
short years. accomplish everything desirable the shap
Of public Improvements. This Is the on Improvement ,ha
we can reasonably hope for the country ntemediate be
Of road for the reaso Of
selves we unable build road Of any kna; hi
is the only field that would be at all encouraging the CAPT
alist This only kind OF road that is no built b.
those only immediately interested in teiI cons
But as said BEFORE railroad stock is generally codeie
good aud It itaressy, that we have The mostyor
= able location whole Stats.-
Those who disposed doubt il, let travel ONT
proposd ae o. road from Ptrn 10 Indianapolis We Nv
ou subscribe ]belsiy, to the eye 8 The eaiy N