The Davenport gazette. [volume] (Davenport, Scott Co., Iowa) 1841-185?, 1853-10-20
A Successful Speculation.

II we are not much mistaken, the building
Of the Illinois Central Railroad will prove
the most success iui speculation that ever
was tapped even in this &c ahead country
By means Of good luck and perseverance,
less than dozen live men--locomotives in
striped cass;meres--have become possessed
Of arst class Railroad six hundred and sew
entr miles long. ana worth At least $4,000
600. and all this without the outlay I'll one
consecutive red cent. Let Us devote a few
moments TO it. history,
The State u lllinois, in 1880, with pop
ula.ion Of about d. 900 smal! farmers author
ired lone .. : l2,uoN.ooe. or $500 ;or eve
err family IN the State, To construct pubic
works. One Of them WIS the Central Rail
road. running tram the Junction Of the Mis-
sissiFp north, .o d point On the Illinois river;
thence branching acrth east 10 Chicago. and
northwest to G.lena, The State spea, on
this work SS.Joo,ooo, and Jailed, In 1850,
the United States granted equal 10 2,6T2,
600 acres OF land within fifteen miles OF the
route oil the read, to aid in its construction.
The dozen gentlemen alluded TO stepped for
ward and proposed to the State To take this
land and build road with it, The State
accepted the Offer. and passed an act, Feb
rusry. 1851, Incorporating the said geutle
men, and endoNing them with the 2,672 600
acres, and, in addition. all the old property
and remaius OF the old Ceatrai road.
This charge is perpetual, being mere
contract between the State and Company.
In consideration OF the lands, the Company
was to put Il e read in operation. Having
done this, il is to pay the State : per cent
per annum, on the gross income, in lieu ot
all taxes, forever. The State has then no
control over the Company. and any dispute
between the high contracting powers, must
therefore be settled in the United States
Courts. The lands belonging TO the Gem
pany are In alternate SIX mile sections. AT
minimum prices the Company lands are val
ued al S25 goo .o00-a sum gseater than the
whole cost Of tie road. As we said before.
the Illinois Central Rgilrt ad is the greatest
speculation oil the are. Tie whole enter
prise has been carried forward with g deter
mination 10 win. and We are pleased - say
that the determination las been reaIized-
The directors have made immense fortunes,
b their zeal anu courage, but they are not
the only people who vii. realize golden re-
suits from the completion 81 that great en-
terprise.
Taere are On the road 100000 acres
Of private lands, which SCI a. an average
OF seven dollars, when they would rot ~
fore bring three doliars-a rise OF 81. 600,-
900 already, based upon the availability OF
the produce fer market. The alternate sec
tons oil the Federal Government, number
ing also 2,65o.000 acres. which have been
held al the minimum ofoRa dollar and tRen-
tv-fre cents. have sold tits fall, az an aver
age Of five dollars. Tie Government thus
reaiis e. 5000 geo at pr51t ID consequence
OF giving away h4lfits Lands III tie locality
The State Of Illinois, at the same time, b.
having its rich soil opened to the thrangiag
immigrants, is rapidly increasing in poPula-
ton Noeity N the whole e9atinentineseas-
es more rapidly than Chicagq. and as is con-
nection with the rich back country increas-
es, its Importance swslls. When the Cen.
trai read was projected, Illinois had 10000
familes-it has now 10000. The REGION
of country through which tie railroad runs
is OF the finest sort, and it availability not
only affords fair supplies OF produce. but
opens up an extensive maske; for InercAan-
dlse.-Abany Khie2er5o-.sr