Glasgow weekly times. (Glasgow, Mo.) 1848-1861, 1854-10-26
From the Republican, 10th.
The North Missouri Railroad.

FROM Ue hepuOncan, lstns
The North Missouri Railroad.
On Monday last resolution was adopted
by this Company locating the road upon
what is called the "Ridge Route" by vote
of 4 to 5, upon condition that the counties
along the line subscribe the additional sum
of $450,000 10 the stock of said company.
We learn that it is estimated that it will
cost to build this Road from st. Louis to the
Hannibal and St. Joseph Railroad, dis
lance of 1856 miles, $6,500,o00. The
State, as is known, gives its credit TO this
road to the extent of $2,000,00O, as fol-
lows: For every fifty thousand dollars the
Company expends of its own means collect
ed on the stock subscribed to it, the State,
upon affidavit of the fact being made by the
Treasurer and two Directors of the COM
pany, and the certificate of the Recorder of
St. Louis county, that no prior lien exists
on the road, issues 10 the company fifty
thousand dollars of State bonds, which can
not be disposed of by the Company for less
than par; and when the fifty thousand dol
lars so obtained OF the State is expended in
building the road, and fifty thousand dollars
more of the Company's own means is used
in its construction, and take proof of the
fact as in the first case made to the TreaSIi-
rer Of the State, he causes to be issued 10
the Company an additional fifty thousand
dollars of State bonds; and SO on in like
manner as often as said company shall be
able to make like proof, until the 100000
of State credit is exhausted.
The city of St. Louis has subscribed to the
stock of the Company .,,.,.... ..... $500 900
The county the like sum-. 500 600
Both of these subscriptions are payable
IN bonds, which the contractors for
building the road take at par
The contractors subscribe....., ,...... 300 900
st. Charles county-paid by taxation
subscribes ...,'' 100 900
st. Louis county individual subscription, 10000
Warren county-paid by taxation-sub-
scIibes 800. ........... ...... ...... $4,000
There are other unconditional good sub
scriptions TO at least. 49,. ...... GO 0o0
Making in all.... ..........S 81, $4,000
Thus it will be seen that the Company
lacks 100000 Of having sufficient means to
obtain the $2,000,C00 of State credit and
even if il obtain the whole of the State credit
that it lacks, then $2,500,OOO of having
sufficient means to complete the road TO the
Hannibal and St. Joseph line of railroad
In view of this fact majority of the Board
deemed it necessary to the success of the
enterprise that what is called the "Ridge
Route" should he adopted, which all admit
is compliance with the letter of the char
ter, whilst about the adoption of the "Cen-
trail Line" being within the meaning and in
tent of the law, there was much diversity
of opinion. 1t is, perhaps, known that the
Governor of the State did not feel himself
authorised to issue the bonds Of the State TO
the company until it had reconsdered its To-
cation of the road as originally made, be-
yond Mexico in Audrain county, on what is
called the Central Route. A majority of the
Directors of the Board, we are inclined to
the opinion, would have preferred building
the road on the direct or shortest line if it
could have been done under the charter, and
it is clear TO our mind that this is the line
for St. Louis; but rather than see the en-
terprise embarrassed, we agree with the
Directors in the propriety, under all the
circumstances, of adopting, conditionally,
the route they have. To the Hannibal and
St. Joseph line of Railroad the Ridge
Route" will cost 100000 less than the
"Central Route" and to the Iowa State line
$8O0,O00 less, according 10 the estimate OF
the Engineers, although it is thirteen and O
half miles the lorgest and the direct route
will cost 81 100000 less than the Ridge
Route, and would be thirty miles shorter
However much it may be the interest of St
Louis to have had the "direct route " in pre-.
ference TO either of the above routes, il
seems to have been unattainable, for We
we we'll remember the strenuous effort.
made by Messrs. Broadhead and Sturgeon
at the last session of the Legislature, L
obtain such modification of the charter a.
to authorize it, and of their failure to do SO