Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1850-07-11

Anthony, and James Truitt. of Delaware county;
Madison G. Walker, Allen MakePeace. and William
Sparks of Madison county; Thos. R. Noel, Of Ham
ilton county Oliver H Smith, and Alfred Harrison,
of Marion county; wiliam A. Rifner. of Henry CO.
George King. Of Johnson county; and r. H. WinsIow
of New York.
The following persons were elected officers, viz:
o. II. Smith President, James g. Jordan Secretary,
Austin w. Morris Treasurer, and Thomas A. Morris
Engineer.
The Executive committee consists Of Messrs. An.
thony. Jeremiah Smith, Sparks, Harrison and Noel.
The standing committees constituted follows:
On FInsnce.-aiessrs. Anthony, WInslow, Make
peace, King aud Harrison
{ On Company lands.-Messrs. Kilgore. Way, Riff
ner, Walker aud Noel
On Claims.-Messrs Sparks, Kilgore. Heaslon,
Noel and Rifner
On Location. &c.-Messrs. Smith, King. Walker,
! On Public Depots.-Messrs Nakepeace Heuston,
NOEL Truilt and RIfner
On Private Depots--Messrs. Way, Noel. Anthony,
Walker and King.
The President previous to being qualified delivered
the following address
J GENrLEMEN-Havng received renewed evidence
OF the confidence and regard of the stockholders and
directors, take the occasion to say, that pros
pecs nave never before been fair, and that it only
requires continued and perseyerng effort on the part
OF the directors. ohcers stockholders and friends of
the work Ia ensure It's complete success Within the
last year stocks have been gradually increasing,
and we have done much in procuring mems, and ma
terials, and IN the construction of the work yet much
remains TO be done.
Our liabilities Of every kind have been promptly
ne, and credit has been maintained unimpaired.
/ We have purchased the heavy r rail, chairs and
spikes, for Ibirty-four miles of road extending
from indianapolis to Anderson, by the negotiation Ct
our ten year bonds fair rates. We are now bal
lasting the grade and laying the iron on the first gen.
eral section, from Indianapolis TO Pendleon twenty
miles Of tvvo weak
forward the gravel, lumber and iron by power,
and the balance of the iron, to lay the eight miles,
from Pendeton Anderson. we expect to receive
early the coming fall, and to lay it down before the
season closes.
The Union steam track at Indiana polls, has been
completed and works finely With this track the four
rail roads located to that city, connected by
switches from their respective depots and other roads,
that may be hereafter located there may in
like manner, and the whole transportation from road
to road, will be done by steam, the business shall
require.
We have made arrangements by which the Madison
company will do the business of road with their
locomotives and cars, far Anderson, for a I'm
tied time, upon terms highly beneficial to both
panes receiving the net profits Of the road. and
they receiving fair compensation for running il, be-
sides The benefits arising from the increased business
that will be thrown upon the Madison road while our
means will be left free after the road TO Anderson
shall be completed. push the work forward the
State line
Our whole road is finally located, and, except few
sections, opened to the Ohio line, and have every
confidence t5at it will be In operation to Pendeton by
tie first of October, ready receive the northern
business, and 1t the iron arrives IN me expect,
we complete il Anderson this season. We
contemplate completing the grade to Muuce this
1 sum- and having the cars there the next and at the
State line by The autumn thereafter This we can,
n and must do, if our subscribers will give their
promised aid, and the counties through which the
e road runs will do their duty.
am happy to state, that we have been favored with
good wheat crops this season. which besides greatly
beue6ting farmers, in other matters, will give
them means 10 pay up present dues, and Justify
subscriptions, enabling TO prograss more rapidly
!, with the work through the northeastern counties
Our stock solicitors aud directors will be again IN the
field taking stock. | confidently trust that they
A may be met with the right spirit, need
il stock TO complete the work.
. must congratulate you the fact. that our road
e stands high IN the public confidence at home and
abroad Ii lie Justly looked upon al The East a link
6 in of the great chains of railway which is to
. connect the Atlantic cities with the Mississippi,
early day, and ultimately with The Pacific.
e il is especially gratifying TO to know that the
% roads with which road is to unite, and between
. which. from the Ohio line, to Indianapolis it will be
the direct connecting lIuk are rapidly progressing to
completion.
sdves 10 these roads TO show The great Importance
6 of road, and give idea of Its probe BILE
through business, when II shall be completed Ii Will
unite at the Eastern terminus. with the Phllade phla
j. and Pittsburgh line. running through Belieontaine,
a and Sidney. which line is nerseced at Bellefonaine
:. by the Sandusky road and at Gallon by the Cleve-
land rad these being the direct Boston and New York
- lines by the Lake route Ii will also unite the
." Ohio line, with the Baltimore and Wheeling route.
running through Columbus Urbana and Piqua, as
well as with the Cincinnati, Dayton and Greenvile
line. at indianapolis IL connects with the Mad
son Terre Haute, lafayette and Peru roads, and will
Id al an early day be Inerseced by several Others
er These connections must secure TO our road in
mense through travel and business. Its local BUSH
will be equal TO that Of any other road of the same
On length in the West These combined facts. when
III sdered in connection with the other important facts,
that road upon the low grade Of 80 Fl.
the mile, and will only when constructed in the
o. most substantial with ballast and the heavy
ne rail, 10000 per mile. ready for the motive power,
It, less than one third of the average cost of American
We rail roads, we feel warranted in repeating that
VI road must pay well, constructed with
gradual increase annually, that our stocks will un-
a quesonably reach high Of dividends there
is no limit IN charter
nd May not be permitted to inquire of our friends
who are directing their attention to plank roads, from
different points on the line. whether true wisdom
~ would suggest The completion of the artery. first
and hen the appropriation of the surplus to the
IN structon of the ueinx!
take pleasure in bearing my testimony to the nbil-
n ity aud energy, of the officers Of the company. who
contributed much the gratifying condition al
W. the work. And TO the directors who have retired
from the service Of the company, cnder my thanks.
OF for their efficient aid for the last two years OF our
Isl operations.
I'D Let u.s. gentlemen enter upon the discharge of our
duties with full determination TO meet the just ex-
as mediation of the stockholders and the public.