The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1850-10-12

iornl, when called upon to do So also took the
liberty Of pointing out sone objections to the
terms and conditions Of the release.
For instance, Vne Of the conditions was, that
IN case Congress SHALL at its present session. do.
nate to the Stute of Illinois, or give pre-emption
10 lands for the purpose of aiding in the constuc-
ton OF Railroad from Cairo TO Chicago, that
the Caro- City and Canal Company shall and will
authorize the Governor of Illinois to offer said
land to the boudhodcrs Of the State debt, on CON
dion that said bondholders will agree to receive
SAID lands and make the proposed road from Cal.
ro to Chicago" dc, DC The first objection | urg-
ed to this clause was, that the release was to be
VOID, unless Congress made the grant at tie pres
ent session This, however, was of minor import.
ance to the next. 1t recognized the title to the
lands, the moment Congress made the grant, as
being vested in the Cairo City and Canal Compa-
ny, and gives the promise Of the company that it
will permit the Governor to offer the lands to the
bondholders, OH condition that they would receive
them and make the road. Suppose that the
bondholders should refuse to receive lands and
make the roada In that event, the release wod
be VOID, and the charter, and the road, and the
lands granted, would all remain the property Of
the company. 1t is unreasonable to suppose that
such might be the case, when an understanding
between the bondholders and the company would
enable them to get all the lands, divide them a.
mOng themselves, Ind stl retain all their chart
cred prviesesi Without imputng any such de.
sign TO any Of the parties concerned, | frankly
told the agents of the Cairo Company that no
arrangement could receive my approval by which
our State could possibly be deprived Of any of
the benefits and advantages which might result
from grant OF lands BY Congress in aid Of Rail.
roads in the State. To enable US TO protect the
rights OF our State in this respect, as woll as TO
give US the slightest chance to secure TO the grant
of land by Congress, told them that the Cairo
City and Canal Company ought to execute to the
State OF Illinois full and complete release and
surrender of the charter Of the Great Western
Railroad Company, and Of all acts and parts of
acts supplemental or amendstory thereof, or re.
latng to the Central Railroad together with all
the rights and privileges granted by all or any of
SAID acts, as fully and completely as if they had
never beer passed by the Legislature; leaving
the State, through its Legislature, to make such
disposition of the land-. and such arrangement
foi the construction Of the road with the bond.
holders or others, as the people Of Illinois should
deem test also expressed to them the opinion
that in order To make such release valid and
binding upon the company, it would be necessary
TO call meeting Of the stockholders in pursuance
Of the charter, and that they should pass a reso.
luton authorizing and directing the President aud
Directors Of the company TO execute the release
and that the instrument should recte the authori.
y IN obedience 10 which it was made OF course
did not pretend any authority to impose these,
or any other terms upon the company; nor 10
give the assurance that they would meet with the
appreciation of yourself or the Legislature, or the
people of Illinois On the contrary, expressly
informed them that had no authority to act in
the premises. 1t Is proper, however TO state that
| d,d inform them that my action would be mod
ltied IN great measure by the execution Of such
n release; that was about to introduce bill for
grant Of land for a Railroad from Lake Michi.
gan to the Ohio river, upon such line, and TO ter
inmate at such point ne the Legislature should
prescribe. That my object in this would be to
secure the benefits Of the grant TO the State and
at the same Time keep them out OF the hands of
the Cairo City and Canal Company. unless the
Legislature should hereafter choose to convey
them to the company. But if the company should
determine to execute such release IN due form
80 as to protect the rights and interests Of the
State in this respect, should provide for the
grant on the line of the Central Railroad, with
me southern terminus at Cairo, as now provided
by law
Mcssrs. Rockwell and Billings, on the part o
'"e '"''i'''N' rSP'eeseu 'ner en''e 'onCu''en''
~ tv 'g"Eo'" oi 'nese views a"u huueo
''," "..',' ,,"s Ie ,o i.ny M"",u u'.''es'1''s
measure beneficial tn The interests uf the State
and company both. and essential IA the securing
e a Grant Of land from Congress Thus the
matter stood until Yesterday. when received the
r.l,ase which herewith enclose. executed in d,I.
rlicatc. one COPY of which was requested to re.
ain, tote used, if necessary. in Congress: and
le oiher, to f,rwurd to YOU MS the Executive of
lie State. ! entertain the hope tina, this will re.
move many, if not all the obstacles in the way Of
securing the grant Of land, and making the Cen.
,ral RalIrus,l. am assured that they hive the
prospect Of making favorable contract for the
iron for he whole work. aud of commencing op
eratons during t,e present season. should re.
pose implicit confidence in these assurances now
il we had not been so often duped and dsap.
pointed before. But as the PRINCIPAL interest and
control Of the company is said TO have passed in.
TO new hands, it is possible that we are now au.
thorizcd to hope that something is about TO be ac.
compli,hed.
With the desnltcry explanation of this trans.
action so far AS have any knowledge of it, en-.
closed the release to YOU, us the Executive of the
State
| have the honor to be, very respectfully,
S,ur ftn.nd and ubedient servant