Burlington hawk-eye. [volume] (Burlington, Iowa) 1845-185?, 1851-10-09

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more might be added thereto. ara ~ whatever
the conn any drawing seven n-r -. - ooacs NJ
for the remainder. Having rsra;, - ~ interest
that IL the road We're once graded -. sacea
superstructure could Be procorsi , '.oh ier Ne
made IN bonds of the COMPANY Pagneafs
that the bonds to be issued for a.. - IN order
IRON should in all cases he ro<,rc,rr l.renase u
used IN payment tor iron. Arro,f. ~ fhoss
classes Of bonds are thereafter IN n. Two
the company-the iirst class. or ,hr~. .ssaed By
Tue purchase o. Iror having preferer.s TO
Inc Peoria Directors having drr,ss,
~; - - o" o.. u 'ne route NEXT th,srs.I
wcud be some miles shorter m, $50 NY thea
than that previously SURVEYED ~. expensive
mile for grading and bridging III. 80 - rate per
route could not for that reason ~ ,uon OF TIE
proposed TO instruct the pres;a.., 80; was
portion OF the route, provided i, ~....1 ft Tins
at price not exceeding fifteen No. ~. aone
the engineers estimate-the contracts. -. zaors
ing in payment the Corporate .,h..'.eeeiv-
Peoria at par-the private snbxrr;n.: p"on 81
citizens OF that place, and far ~ Pnon 2. Ne
they were TO receive the bonds NJ ~. S,hs'naer
in the manuer provided for in go. company
Pennington division. 10 The
These several propositions, falthou,, L.,
different, when first introduced. y wers s.s kniIy
to the shape above stated. and nress.,. Iduced
whole, and without any direct opposit;o, =
aoup'e" " she unanimous consent of the Ra.-I
ne contract Tor The western division 49,
aescI.oeu, was consnmmated. as well Il M.
to and across Spoon river. 4 pan.I.,a.a Aslhe
ready to contract for the grading ard $3.50 s'ooa
OF the Pennington division 4, The r,,s - ssaaS
per mile; but as there was some ohiec,;au $3.50 -,
10 The letting OF this contract. az this 49,. -
sious TO Inc survey, 1t was left Tor The Pr.,,f..,
10 conclude VI after the survey was made
proposition was made to the Ec,.I .ss
the grading and bridging of the Peoria -.
upon terms quite as favorable as the ,,.-.. -
limit imposed upon The President :. .a a.s.1s
stated, though differing somewha, in ths as.s.,'
SO that on the whole. we NAV feel iullv .,,,sssr
that the contracts will all be made ny ibe pr..,
dent within a very few days.
One feature Of the above contract for e.
ing Tue western portions OF the road sboy- a.
thorized -, that the work IL to he rompt.,.I..
three years; and IL the bends Of the Comn,,.
can DC negotiated at moi more than ten p.r esst
discount. the work is 10 be compl4red = -
years from the date of The contract.
The Board Of Directors passed r,so,,,,...
Piedging themselves that as soon ~ the ,vrrtv
miles OF the road next Peoria should bs -
ded, they would cause the snperstFucsnr@ a. n.
completed, and place a locomotive and IN. n.-
cessary cars thereon; and that they wonu
place locomotive and the necessary fre;shs
cars on the western extremity, a. sooa ~ a.
mile of The road next the river shall b. h.,lt
So that we may reasonably hone 10 hear N.
whistle Of the locomotive from TIE other IA.
oil the river, during the course OF the ensuin :.
season.
At the suggestion Of the Burlington Direct
ors. the Board also passed an orsisr. thaf
future subscriptions OF stock. public or priva,,
might be made in this vicinity. 20 ne amount Of
nifty thousand dollars, to be appropriated 10 the
construction OF ferry across the river al IN,
point. and for the purpose OF prsyidInv 4 snI,,-
bic depot within this city.
II has been supposed by mary. that Nh. eba-
racter OF the bottom opposite this city, was
such as 10 render the construction of rsl,
road over il difficult and expensive; but we are
assured by our Engineer that snrh ia not thu
case-that there IS no extraordinary duffrnhy
IN the way-and. that as nearly a. he can rxdrs.
from present information, the road can ke pre-
pared for the rails at cost u some 5000 per
mile.
There is one more subject IN which the nee
pie OF this city are peculiarly interested. d
was stated by the Burlington Directors to- the
contractors of The western division of the road !.
that the private subscriptions of this side OF the
river would amount 10 SO ,OO0 This is with
in the limit Of trnfh-Ent there will be- some
grounds Of dissatisfaction unless the subscrip-
tion is placed upon different footing. A part
Of the present subscription l. that made on NE
first subscription books, which only bound the
subscribers TO pay ten per cent. interest on the
amount subscribed. and to paw the principal st
the completion OF the road. The change suE-
gested will only ohlige the subscribers no ray
twenty-five per cent. per anrrm for fnur years.
which will pay of the entire subscription with
out the payment Of one cent Of interest.
The advantage OF this change 10 the subscri-
bers themselves Is papabIe. that II j. believed
there will be no difficulty In effecting the change
suggested. On one share OF stock - has ~
ready been paid, leaving sos unpaid. On this,
the interest per anngm, will be so 80. II the
road is built in two years. the interest paid win
be $40. and nj that time the whole remaining
principal will be payable at once. Making. in
all, Slli 10 he vet paid within two wears. On
the other hand, there will be but sos 10 BE- paid
in four years. This simple statement leaves
room for no further argument.
In conclusion. the Directors feel irnPeIled -
express their highest satisfaction and confidence
in the Engineer 10 whom tie work has been en-
trusted. They believe he combines Nv himself
unusual industry. economy. energy znd good
judgment-qualties so important to one ih Inns
situation.
On motion committee of five were appoint
ell 10 draft resolutions, composed OF James w.
Morgan, J. G.. Hall, L. ID. Stockton, Adam
Funk and David Rorer.
The Committee reported the following reso-
buttons:
1s,. Rtsoired. That this meeting has heard
with feelings of very great pleasure ard salts
faction, the report just made by our Directors
that we recognize in the facts stated the
strongest and most gratifying assurances That
the ENTERPRISE which has engaged 50 much 81
the public attention. win be speedily accom-
plished, and our city, and the most denseiy pop
ulated portion or Iowa. be put ~ connection, ~
an early day, with New York and View Orleans,
BY means OF the great railroad fhorcughiares
now in course Of ronstructIor--sbd that the
occasion IL one on which we may with prm@
congratulate not only the people OF Burlington
but every citizen Of our Young and hourish'nr
commonwealth, presaElng. nv We trust " boer-
that bappy epoch in our future when simliH
improvement will be extended. with all rs bless
ings, 10 the shores Of The Missouri.
I'd. Resoirsd, That the proceedings o. ths
Board OF Directors meet our unqualified sFpro-
baton, and that we hereby publicly tender cur
thanks 10 those who Immediately represented
our interests in said Board.
3D. Rcsofred, That we cordially recommend
10 our fellow citizens In vote THE asfh'ona'
Twenty five thousand dollars of city stock Dc
sired hy,the company for building depot \
Burlington The character Of our city
pledged to make good the promises Of Sur ~
rectors. Burlington takes no steps bsckwsfu..
Which. on motion, were unanimously sdcp'en.
On motion the several papers OF this ely ssfe
requested to publish the proceedings of 'n''
meeting.
On motion, adjourned.
H. w. STARR, Chm.