Grand River times. [volume] (Grand Haven, Mich.) 1851-18??, 1853-01-05
A MAGNIFICENT SPECULATION.

Lnols haliroad. The SUBJECT, however, Wi
bear referring to again. If we are not mistake
this railroad will prove the greatest specuatio
Of the age. Compared with other fnancia
achievements it is what whales are to minnow
or elephants to cheese mites 1t is not only
great speculation, but successful one-th
wires connected with which have been moved
with an ingenuity that would have done cred
to Professor Anderson, the High Priest of Nee
romancy. BY means of good luck, and perse.
verence, less than dozen go-ahead men-oco-
motives in striped cassimeres- become
possessed ola first-class railroad 67O miles long
and worth at least $4O,OOO,OOO, without the out
lay OF one consecutive cent. Let us devote q
few moments to its history.
The State of Illinois, in 1880, with apopula-
ton of about 10000 small farmers, authorized
a loan of $l2,OO0,OOO, or $500 for every family
in the State, to construct public works. One
of them was the Central Railroad, running
from the junction of the Mississippi river north
to point on the Illinois river-thence branch
ing northeast to Chicago, and northwest to Ga
lena. The State spent on this work $780,
600, and failed. In 1850, the United States
granted equal to 2,672OOO acres of land, with
in fifteen miles of the route of the road, to aid
in its construction. The dozen gentlemen allu-
ded to stepped forward and proposed to the
State to take these lands, and build the road
with it. The State accepted the offer, and pass.
ed an act, Feb, 1851, Incorporating the said
gentlemen, and endowing them with 2,672,OOO
acres, and, in addition, all the old property and
remains Of the old Central road.
This charter is perpetual being mere con-
tract between the State and the Company. In
consideration of the lands, the Company is to
put the road in operation. After that it pays
the State 7 per annum on the gross income, in
lieu of taxes, for ever. The State has then no
control over the Company, and any dispute
between them must be settled in the United Q
States Courts. Fifty miles of this road are q
nearly ready for the rails, and as soon as the Il
cars run on these fifty miles, the Company can .
proceed TO sell its lands. Now the lands are n
selected in alternate six mile sections, the Fed \
'ral Government reserving the intermediate Sec o
ions. AT minimum prices, the Company's lands 4
we're valued at $2l 100000, more than sufficient Ct
o build the road-but the Federal Government ,
las this Fall, put its alternate sections upon the IL
market, and the prices have ranged from So to "
81 per acre, where formerly they would bring
My 81 IS.
AT these prices the lands of the Company "
ill bring fully $4O,OOO,OOO. The surface of pr
ountry over which the road runs is one of the q,
lost favorable for such structures to be found be
the world. Should theroad be built for $40. 81
DO per mile, which was the cost of the South o.
IN Michigan, its aggregate will be 81 100000. az
ut should the final cost be some $2O,OOO,OOO,
will be entirely paid from the proceeds of the pu
nds denoted by the Federal Government Re Re-
hat being the case, it follows that the whole Re
ad, appurtenances inclusive, comes into the in IN
'nds of the dozen gentlemen referred to, with ma
1T the expenditure of one single dollar from G on
cir own private pockets. But, after all these DO
'ntlemen are not the only parties who are to OIL C1o
ap princely benefits from the completion of ret
is road. vii
,,, Tn
There are on the road 100000 acres of pri- ula
W '"''"'' "hi@h oCii az All average OF - 1, WDen
ey would not before bring S3-a rise of SAL.
$1,000 already, based upon the availability of c
oduce for market. The alternate sections of CIV
Federal Government, numbering also 1885, BIZ
acres which have been held at the minimum and
81 26, have sold this fall, as stated above, at des
average of SIS. The government will thus ing
'ize $9,O000O0 profit in consequence of oer
ing away half its land in that locality. The N
tie OF Illinois, at the same time, by having its EXP
soil opened to the throngug immigrants eI ~
apldly increasing in population. No city on Stat
whole continent increases more rapidly than wee
cago-and as its connexion with the rich the
country increases-its importance swelIs. wise
len the Central road was projected, Illinois
10000 families-it has now 100000 The ia
ION of the country through which the rail. uor,
runs is of the finest sort, and its available gerft
not only affords fair supplies of produce, but Geol
ms up an extensive market for merchandise. i c
IN. Y. Dutchman. a A'a ~
! JOLLY LIFE.--Insects must generally lead Hon.
ny Jovial life Think what it must be to coun
70 in lily. Imagine palace of ivory md at tw