Wisconsin herald. [volume] (Lancaster, Wis.) 1846-1849, 1848-04-22
From the Chicago Journal.
Rail Road Meeting.

Sd of April, at the Railroad office. in this
city.
A respectable number were in attendance,
and the proceedings of the meeting were
by entire harmony and good
feeling.
4. S. Wadsworth, Esq. was called to the
chair, and Wait Talcott, and w. c. Kim
ball, Esqs., appointed secretaries.
The charter of the Company limits the
Board of Directors. to a number not less
than, nor more than thirteen.
On motion of J. Y. Scammon, Esq, pre-
faced, Ivy appropriate remarks, II was voted
that the Board of Directors for the ensuing
year consist of thirteen members.
E. HI. Potter and w. G. Hubbard, Esqs.,
were appointed Inspectors of election and
the polls were ordered to be kept open du-
ring the day.
William B. Ogden, Esq, President of
the Company, read an able and conprehen-
sive report, in connection with which he adj
dressed the stockholders, at great length
entering infinitely into statements relative
to the past efforts, present condition, and fu-
ture prospects of the Road.
He gave history of the operations of
the Board of Directors previous to opening
books of subscription, which was delayed
until the Michigan Central Railroad Com
pany had decided between St. Joseph and
New Buffalo, as the western terminus of
their road.
Upon the decision of that Company, in
July last, in favor of New Buffalo, steps
were taken preparing the way for an extern
sion of their road to Chicago-and hooks
af aH
at Chicago and Galena, for the extension
of this continuous line of Railroad from
Lake Michigan to the Mississippi. $780,,
900 of stock were at that time subscribed.
A sum so liberal, and giving evidence of
such universal confidence in the proposed
undertaking, as to Justify the belief on which
the Directors have ever since acted that a
respectable portion of the road could be
constructed and owned entirely by the clti-
Zens of Northern illnois-and this done
the ability of the country would be increas-
ed to extend it. Vigorous efforts were made
and the subscriptions increased TO $780,
900.
The work was the then begun in earnest
IA corps of engineers employed, all the
timber necessary for the entire superstruc-
ture of the road TO Elign contracted for,
and arrangements made for the iron and
cars.
Mr.. Ogden remarked, that while it would
be desirable to finish the road with an edge
rail, yet II was better, on no account TO ex-
ceed the means of the company, and he
therefore recommended the adoption for the
present, of the fat-rai-if necessary to the
success of the efforts now being made
showing at length, at the same time, by ref
erence to statistics, the important difference
in dividends for the first three wears, be-
tween the two kinds of rail-amounting to
near $1,000 per mile.
In recommending the flat rail, Mr.. Ogden
stated, that he only regarded it as for tenn
porary use, believing as he did, that the bus
mess and profits of the road would justify
its removal, and the substitution of the edge
rail within time not exceeding three years.
There were also many evidences in the
commercial world-besides the assurances
of men largely engaged in the iron trade
that there would be large fall in the price
of iron during the next three years--a fall
which had indeed already commenced.
MIR. Ogden closed the reading of his re-
port by few general remarks upon the pc
culiar advantages attendant upon the con-
struction of Railroad from Chicago to Ell
gin.
Owing to the champaign character of the
country over which the road passes and the
absence of any. considerable
floods in the streams it crOsses--the cost of
grading and bridging &c., of the entire con-
struction of the road will he greatly less
than that of most o'her roads.
1t has been ascertained by preliminary
surveys, that the same grades can he main
tanned, and with little additional cost of
to within ten or fifteen miles
of Galena, when descent westward of
some thirty-seven feet to the mile must be
made
The Chief Engineer of the Company,
John Van Nortwick, Esq, also submitted
n report TO the Notwithstanding by
and estimates, the condition and
probable cost of the Railroad from Chicago
TO Elgin, and also an estimate of the husi-
ness and revenue of the road when compile
ted to that place.
He entered into minute statements oc the
grades, curves, &c, of the road-stating
that, owing to the level surface of the coun-
try, but little more labor would be- required
in grading the first ! I miles than the shaping
Of an ordinary turnpike road.
He named the principal structures which
would be required-also statements of the
cost of grading and bridging by sections
he prices at which ties, rails, ribbons, Sc,
&c, had been contracted for-cost of iron,
;ars, &e.,-comprising the whole cost of
he road from Chicago to Elgln, making
he total S33s 900.
He stated that by contract the first six-
cen miles would be completed by the Isi
August and the next fifteen by the Ist 0cto-
Der next.
He entered into a minute comparison he
ween the Michigan Central Railroad, it,
business receipts, &c., as shown by the re-
port of j. w. Brooks, Esq, and the Cole
IA and Chicago Union Railroad. showing.
" Statements Of the airenut Of wheat fats
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