Portage sentinel. [volume] (Ravenna, Ohio) 1845-1854, 1849-03-21

concern to the contrary Notwithstanding ]
and secondly, because we consider this in
fact an illegitimate business for the county
to be engaged in. 1t is in effect compell-
ing citizens Of the county TO become stock.
holders against their will and wishes. 1fI
this Stock is as good as represented by the
managers of this concern, why SO much
difficulty in obtaining subscriptions4 III
those who are so anxious to get the Road
through and vote for it are not willing to
subscribe, why compel others TO do so?-
We call this force business and undemocrat-
ic-taking our money without our consent;
without value received therefor. We call
it downright robbery-allhough robbery in
any other shape would be preferable. Let
US examine this matter further:
The directors tell US that they will
guarantee the payment of annual interest
on this subscription, but they do not tell
you when they will pay this annual inter.
est. 1t is not to be inferred that the inter-
est will be paid annually because they
promise annual interest, and ii 1t is rightly
understood they do not obligate themselves
to pay this annual interest until the IS con-
which at the rate it has progressed may
consume 20 years when if unpaid the
$75, 900 dollars and interest would amount
to nearly $4,000. There are two sides
to story and you should view it from
! both.
Again, these modest directors would
have you understand that they have as.
surances which they deem reliable that the
funds necessary to procure the iron and
complete the Road will be furnished by
Eastern capitalists as soon Us the line on
the middle division is ready for the super
structure.
We are one of those who have no faith
in this assertion. And in fact we consider
the entire address an unadulterated species of
humbuggery calculated to deceive the people
and extract from them their hard earned
money; in return for which they promise
simply its shadow, viz: stock in theCleveland
and Pittsburgh Railroad Co.
We want evidence better than single as
sertion to satisfy US that this is good and
proper investment for the county.
Suppose for a moment this statement to
be true, on what terms is it supposed these
Eastern capitalists will furnish the funds'
1t cannot be expected they will como in on
par with the present stockholders; no such
thing is supposable. The fact is they will
dictate their own terms-"beggars will not
be choosers, ,"-and rather than lose what
they have done they will be obliged to put
in their work at half its cost and such
bargain as this cannot be accomplished un.
til the road is ready for the superstructure
By this operation this old or present Stock
will be reduced in value TO half its cost.
But how long suppose syou is it going to
| take to prepare this Road for the SUPER
structure so that you can commence nego.
Citations for the Iron, &c. We perceive
by the December (last) report Of this Com
pany that they have expended $7l 200 on
the entire line. We also perceive that
they have called in so per cent on their
subscriptions. This would show had they
collected the fifty per cent. small sub
scription, say $150,00O available. Does
this look like an early completion Of the
Road the estimated cost Of which is over
Tsvo Millions of Dollars? But, fellow.
citizens, these soulless. Corporations are
capable of all sorts Of rrickery and they
now ask you to come in as partners, be-
cause they want your credit. They d,n't
want your money, nor nothing.
Now under this state of The finances OF
this new concern the people would like to
see an exhibit of its affairs They would
like to know whether it will be likely to
sink or ssoim before they become partners,
and whether the concern is rotten or sound,
and how much is subscribed--how much is
available-how much upon conditions and
how much cash on hand?
Citizens of Portage, look to this matter
before you vote and prevent it possible a
division Of YOUR COUNTY.