Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1850-04-11
To the Directors and Stockholders of
the Central PIarlik Road COMPANY.

To the Directors and Stockholders OF
the Central Plank ROad Company.
GENTLEMEN: As your presiding officer, the duty de-
wolves upon make this the FIRST annual report OF
the proceedings of the Company.
The charter Incorporating The Central Plank Road
Company became a law January l6h lo49 Agreeable
TO ITS provisions the commissioners therein appointed
Immediately gave notice that books for the subscription
Of stock in said Company would be open al several oil
the business places along the line Of the eonienl-
plated road.
II was soon asceained that owing to several objec-
tionable features in the charter that but limited amount
Of stock could be Obtained although the commissioners,
with great beraiy, proposed To take STOCK labor and
materials as well rs cash, aud liked sum merely nom-
nal the adv payment the time of subscribing
Yet under these facilities for taking stock, such
the objections to the charter by and doubts as TO
its utility and producivencss by others, that il only
by the persevering industry of The friends of the
that during the ninety days The books remained
open, that sufficient stock subscribed To authorize
the commissioners order eeclun u directors, which
election was held at the "Washngon Hall" in Indian
apols, the 18th day of April ls49 according TO notice
given.
The Board Of Directors organized by eleclng James
Blake, Esq, President w. II. Morrison, Secretary, and
Thos. III. Sharpe, Treasurer.
The stock commissioners reported the following
of stock subscribed towit in cash. labor,
and materials, $4,000. With this limited amount Of
means, much oil which only available al discOnnect
ed points along the road, the Board pUdeniiy determn
ed 10 confne their operations such portions only OF
the road would enable them 10 repair aud complete
the first six miles Of Indianapolis, by the provi
sons of the charter they could then gate and
make available the part thus finished.
The construction and repair Of the aforesaid six miles
Of road placed in charge of President Blake who,
with his usual industry aud perseverance,, commenced
operations Immediately, with the expectation OF compet
ing the same by the first Of September.
But owing the failure of the contractors deliver
the plank and the limited the command of The
President and many other difficulties incident works
Of this character, the first six miles not, though
nearly completely until the l1Ih of October, when Mr.
Blake resigned his Office of President aud Director.
by the partiaty Of your Board elected its Presi
dent, and took charge OF that portion of The road under
construction and repair of indianapolis.
Though the season far advanced, and the farther
progress Of the road somewh hat difficult, yet the i'm
porance OF its immediate completion such tn II it
was thought best to do ii, although some additional ex
pense might be incurred thereby.
On the 9Th day Of October the first six miles west of
Indianapolis completed, toll gate erected, and
appointed A. w. Fuqua, gate-keeper.
The cost OF this portion OF road had far exceeded
fnrmer estimates and upon accounting with the several
contractors and laborers Of the road, found lnb
ties exceeded our present available means about "a O00
To this balance, appeal made the stock
holders, several of whom promptly the call
large amount The residue Of the deficit realized
from the sale Of thirteen 800 bonds six and twelve
months time.
A, the June session of the Board an arrangement
made with the stockholders in Hancock co., whose stock
be paid in labor and materials, four
miles OF road west from Greenfield Under this arrange
ment about and halt miles have been completed,
and plank for about half mile
have remained in good repair during the winter and
! spring, without expense.
The Stockholders and directors satisfied that no
for the efficient prosecution of the road could be obtain
ed under the original charter OF the Company, peitoned
the Legislature lis last session for several amendments
to the same, which, with some unimportant mod6ca-
lions, literally granted
Al the January session of The Board, il made formal
acceptance Of said amendments and ordered The books
reopened FOR the subscription of stock for sixty days
from the 10Th of January 1850 during which time $40
Inf cd fo Is fha xalta
BILE stock of last year be added of about Sl7 000 and
1000 of stock be taken by present pa
payment of their contracts, have in the aggregate
about S690GO The whole amount of stock that has
been subscribed that will be issued 10 any out
standing contracts.
Contracts have been made for all the Plank required fol
the road east Greenfield and Beleve TO b.
delivered different periods during and all before
the LIST Of May 1851 making with the finished about Al
! miles now under contract.
According order of the February Session Of the board
employed T. FIost, Engineer survey all that portion
Of road lying between this city and Greenhed-also from
the present western terminus of the Plank To Planfel5
making east fraction nineteen miles, and abOu
eight and half He has completed the survey made
! profile and estimates and specifications, sc
There between this city and Grceuheld bridges
four Of which require rebuilding towit: Lick Geek
Browns Run Grassy Creek and Buck Creek The Other thre
will require repairs and will be obsby safe for
years Also in the portion Of The rad there will bs
required about 81 timber cuvets There also in
parent good oder about 10 stone and brick culveIts.
There also Of Indianapolis bridges to- wit
White River two Eagle Creeks. east fork Of White Lick
Crk Creek and westfo OF White LICK al Plnfld Is
bridge at Clak's Creek will equiIe rebuilding; the other
will require repairs the present and will the
piobably be safe Tor some years
There will be required the western portion Of the
about 81 timber culveIts. There alo
brick culveIts that will require some slight repairs.
In the future construction Of bridges would
the entire of timber instead Of stone BRICK except
the vicinity Of stone quaries and also that instead
covered bridges be adopted, as Icing less expensive an
nearly as duI able.
think would be good policy for the Boaid make a
appropriation of sufficient 10 reopen The bitches Orig
Day made by the General Government 10 conduct the
ter from The road.
would also call the attention Of the ard large guam
titles Of stone, belonging to the company sach will no
be required in the further construction Of the load. wouI
recommend their sale. You aware that about g.
Of what ia denominsted old stock payable IN labor az
materials Which amount would he called Tor th
season. and applied in the cousruc i'm VI Bridges and Cu
veTts, Toll Houses, sc.
You will see by the report of
with submitted that the entire receipts 81 company hiv
E been Sl6.42L24
From Tolls, l,6O2O
From misce IL ineous sources, A.
From sale of Bonds l,24OO
Total, -sl64al.a
18th Of Mach is -siss.2
D To-wit, See Treasurers report.
: Which shows a balance Of cash remaining in the
Treasury II S2,4I9O
Iii. pobabe the cost of road compared with oh
roads may appear rather large at rst view but II shoul
remembered that lumber in the vicinity OF lndiinaPoli
demand and higher in price than at many ohe
places where roads being constructed
The Of work aud limited time required by n
amended Charter dem ndrd la'ge expenditure for mill
&c. before lumber could be furnished, and without
fair price, contractors woui not incur The exha expense
necessary for the prompt discharge Of their contracts
In the construction of plank Roads IN consequence OF IN
ehort tine they have been in much experience Il "
needed to determine what kind Of timber is most ecsnom
pine; in New York Of hemocki in Michigan, Wiscopsi
and North Indiana, within OF years only has oak bee