The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1851-10-08

Terre Haute will greatly add TO the business
Of our rad, cannot be questioned. Taking |
into consideration The very small sum it will
cost 10 prepare the road from Vincennes 10
Terre Haute for the iron, and the large /
amount Of travel and traffic flowing down the |
rich Wabash Valley that must pass over
that road. there will not be found in the State |
Of Indiana, or even in the United States. a
better paying road from the very moment it |
shall be put in operation OFFS much i'm
Porlance will that road be TO the eastern por-
ton ofthe Stale Of Illinois, and western ln-
diana, that we cannot look on with indiffer |
ence TO its progress. Our interest is identi !
fled with their interest, and every thing our
company can do 10 advance that work, ought
to be done. Their, is probably no road that
can be graded as cheap, and it has no stream
Of any magnitude to cross. The people
alolg the line OF the road can grade and
bridge it, without embarrassing themselves
IN the least. The iron which, at present
prices may cost some two hundred thousand
dollars, Is the great item TO provide for
the IRON! Is il not our interest 10 do so?
tlunk both OF The Sc questions may and ought
to receive decided affirmative answer
With view of bringing about the early
commencement o; that road, | recommend
that our Board make such order in The pre-
miscs lis may tend TO accomplish that oh'ci
AS connected with the proposed extension
of our ROAD from Princeton to Vincennes.
may. al this time, be permits d TO make some
suggestions IA relation to the means 10 be
raised TO pay for The iron. As has been Of
ten said. this is The gre matter with our
railroad companies in the West. In the
East. it is not So There. the cost of grading
their roads to receive the iron. is. in most
cases more Than FIVE times over The cost of
the iron. Here. the cost OF the iron is equal
To. and in SOME rases. more than all the other
Ouuays. Heretofore, when companies have
beeu able to grade their roads. and be out of
debt. they could as Il general thing. put their
bonds III market, and hereby raise the means
TO bny Tor The iron. But nOr. The condition
OF the money market in the East Is such. that
IA negotiation of the kind could not be eilec
ted, without submitting 10 ruinnus sacrifices
Whether This state OF things Is 10 continue
whether the money market shall become even
more stringent, or assume IA more favorable
aspect, are questions wrapped mp in the womb
oil the iuture. 1t may, however, be said that
| it is the opinion OF able financiers that the
large shipments Of The precious metals &c
Europe, winch have caused The pressure il
the money market III the East. will ceas. in
the course OF this fall. If this shall prove rC
be the case. and our exports shall increase (ar
it is hoped they will) and he receipts Of
California gold shall meet public expectation
for the remainder Of the year, then. The ele
ment Of prosperity will resume an active and
healthy operation, and corresponding i'm
: provement in the stock market may reasona
bly, be looked for. Ii may be wise to be pre-
pared with our bonds ready to go nto mar
kei il such favorable turn in the money
market shall take place.
The financial condition ofthe affairs of our
road placesus in a most favorable point of view
10 90 INTO the money market with our bonds
When our road shall BE- finished to Princeton
a distance OF q miles, at Cost or $500 900.
our road will not owe dollar beyond her
means to meet. To go more into particulars
the following may be regarded as u true state
ment:
The iron for our Road cost 500 OOC
which has been paid for
in stock subscribed by the
city of EvarsviiIc
! The grading, bridging & timber 10000
The paymeu, of this is provi
ded for by indivlua! snbscrp-
, tons amounting TO $50 000
! and $4,000 in bonds on The
4 county Of Vanderburgh
The spikes laying track, putting
on iron, 2 locomotives, 2 pas
senger cars--4 box cars-l5
, platform cars. and Depot
, buildings, will cost 10000
To pay this sum ors7o.ooo, Tie 100000
Company has disposed Of
per cent bonds to that
amount, falling due in ten
years.
T. The Company however, holds $50, 600. STA
= Der cent bonds ON The county of Wander burrh