Des Moines courier. ([Ottumwa] Iowa) 1848-1854, 1852-12-30
From the Cleveland Forest City.
A Magnificent Speculation.


Our readers have frequently heard o
the grea. Central Railroad. The sub
iect, however, will bear referring TO a
gain. An exchange well remarks, tha
this railroad will prove the greatest spec
ulation of the age. 1t dwaris every 9th
er financial achievement ever accomplish
ed 10 the United States; the wires con
nected with which have been moved witt
an ingenuity that would have done cred
il TO Professor Anderson, the High Prizes
of Necromancy. by means OF gooC
luck and perseverance, less than dozer
goa head men-locomotives in stripel
casimeres-have become possessed of q
first class railroad, go miles long, aut
worth at least S40,0OO,0OO. without thu
oull"y Of one consecutive cent. Let u:
devote few nomen:s to its history.
The State of Illinois, in 1880, with g
population Of about 40 900 small farmers
authorized a loan of Sl2.000.0o0. OF
$500 forevery family in the State, te
construct public works. One of them
was the Central Railroad, running from
the junction of the Mississippi river norl:
to a point on the Illinois river; thence
branching northeast to Chicago, and
northwest to Galena The State spen
on this work $3.500,O00 and failed. IL
1850. the United States granted equal tc
2.672 900 acres of land within l5 mile:
of the route of The road, to aid in It's con.
struction. The dozen gentlemen alluded
TO stepped forward and proposed to the
State to take these lands aud build tht
road with it. The State accepted the
offer, and passed an act, February 1851
Incorporating the said gentlemen, and en-
dowing them with the 2,672,000 acres
and, in addition, all the property and re
mains of the old Central road.
This charter is perpetual, being a mere
contract between the State and the com.
pany. In consideration of the land the
company is to pnt the road in operation
After that i. paws the State per cent
per annnm on the gross income in lieu
of taxes, forever. The Stlte has then
no control over the company, and any
dispute between them may be settled IL
the United States Courts. Fifty miles
Of this road are nearly ready for the
rails, and as soon as the cars can run on
these fifty miles, the company can pro-
ceed to sell its lands. Now the lands
are selected in alternate six mile sec
tons. the Federal Government reserving
the Intermediate sections. AT mini
mum prices the company's lands were
valued at So 100000, more than suffi.
cicnt to build the road; but The Federal
Government has this fall put its alter
nate sections upon the market, and the
price has ranged from SO 10 81 pei
acre, where formerly they would bring
81 25.
At these prices the lands of the COM
pany will bring fully Si0,000,000.--
The surface of the country over which
the road runs is one OF the most favora
BILE for such structures to be found in the
world. Should the road re built. fol
$50, 900 per mile, which was the cost OF
the Southern Michigan, its aggregate
will be Sl3,4OO,O0O. Blu, should the
final cost be some $50, 100000, i, W III
be entirely paid from the proceeds o
the lands donated by the Federal Gov
ernment. That being the case, ii follows
that the whole road. appurtenances in
elusive, comes into the hands of the doz
en- gentlemen referred to, without the
expenditure of one single dollar from
their own private pocket book. But, al
Ter all, these gentlemen ere not the only
parties who are to reap princely bene
fits from the completion of This enter
prise. ...-.
There are on the road 100000
acres of private lands, which sell at an
average of So, when they would not be.
fore bring s3-a rise of S4l 200, 900 al.
ready based upon the availability of the
produce for market. The alternate Sec
tions Of The Federal Government. mum.
bering also 2,65O,OOO acres, which have
been held at the minimum OF 8 25, have
sold this fall, as stated above, al an aver
age of S5. The Government will thus
realize $9,OOO,O00 of profit in conse.
quence of giving away half its land IN
that locality. The State of Illinois, al
the same lime by having lis rich soil o.
pened to the thronging Immigrants. is
rapidly increasing in population. No
city on the whole continent increases
more rapidly than Chicago; and as its
connection with the rich back country
increases. lis importance swells. When
the Central road was projected. Illinois
had 10000 families; it has now 250,'
900. The region Of The country through
which the railroad runs IS OF the finest
sort. and lis availability not only affords
fair supplies of produce, but opens up III
extensive market for merchandise.
The Scientific American says ,ha
camphor has been discovered to be al