Indiana State sentinel., 1848-04-13
For the Stale Sentinel.
Indianapolis and BeiIefontaine Rail-

Persons wishing to subscribe to the stock of the
above road may wish the following information some
Of which Is drawn from the charter, some from 9th
ers and from my own views of the proper
TO be pursued 10 insure success.
L. The books will be opened on the fire, Monday in
May, and will remain open thirty days only.
3 Stock may be subscribed by corporations or in
dIviduals in cash. materials labor, In bonds, in
shares of S25 each.
g. At the time of subscribing in cash. materials,
or labor, per cent, 81 % cncn SHARE will be
required TO be paid in cash, to enable the company to
organize.
A. Land subscriptions may be made Of any lands
lying in the State, held in fee and free from incum
brance. At the time Of subscribing, an abstract Of
the title, and deposi. for inspection of the title pa
pers, will be required This abstsact shall give de-
scrpton Of each tract Of land, and where situated,
the chain of title running back 10 the patent, and the
cash estimate put by the subscri upon the lands to
give some indication to the company of the amount
OF land stock taken, probably not one half the
stock required will be permitted to be taken in lands
8. Lands subscribed will be appraised at their cash
value, by three dsinterasted appraisers, and
notice will be given TO the subscriber of the appraised
value: it will then be optional with him either to
convey or keep the lands withdraw his subscription
and title papers and pay the expenses OF apprsise-
ment.
6. If the subscriber elects convey the lands, he
must produce certificate of the clerk and recorder
of the proper county, that the lands free from n
cumbrancc, and he also make oath of that fact.
He must then convey by deed, with REIMBURSEMENT of
DOVER to the company, and pay five per cent. on the
amount of the value of the lands, which per cent.
will be added to the amount of such value and GER
tfcaie of stock for the whole amount will be issued
showing that the stock has been paid for and such
stockholders will be exempt from further payments,
until the other stockholders have paid out their stock
also when all will stand upon the same footing.
z. The subscribers in land will hold the possession,
pay the taxes. and have the right to redeem, for four
years. would here suggest to persons who do not
intend to redeem their lands the propriety Of releas
ing the right of redemption in the original deed.
that would enable the company to the lands in
the redemption of the bonds of the company, to the
benefit of all concerned.
| 8. The payment o. the stock subscribed in cash,
materials and labor after the payment cf per cent,
will only be called for in yearly instalments of So
each share, unless shall be absolutely necessary
to complete the section under construction.
As there are many railroads spoken Of the ques-
ton may arise in the minds of some, wishing to SUBJ
scribe in of them, whether thiS company
tend TO prosecute this work Immediately remote
ly. 1t may not be out of place for say, that my
understanding is that there is doubt entertained o
the construction of the work that the books are to
be opened on the first Monday in May, and be kept
open thirty days. that the company will organize the
first of June; that a random line will be run imme.
diately thereafter and permanent location of the
road will be made TO the Ohio line without delay
that the grading and bridging of the first section from
Indianapolis TO Pendleton will be put under contract
in July and the whole line will be completed and put
TO in continuous sections from indianapolis,
Meeting the business with the Madison Railroad, anC
the stock made productive just fast and
1t can be done with the means of the company anC
we now appeal TO those who are able and willing tC
cooperate in this great work, to conc forward wher
the books shall be opened and give substantial
nest of their good wishes. S.