The Davenport gazette. [volume] (Davenport, Scott Co., Iowa) 1841-185?, 1854-03-23
THE GRAND TRUNK RAILWAY

THE GRAND TRUNK RAILWAY
This great work, now in progress in the
Province OF Canada, exceeds in
and Importance any project upon
this continent, unless we except the Paclt-
ic Railroad across our own country. The
scheme embraces at present fourteen hun
bred and twenty miles of railroad, a part OF
which is now in operation, the remainder
under contract, and part Of this already
sub-let and in process Of construction.
Since the scheme was formed, which al first
contemplated according to the prospectus,
only eleven hundred and twelve miles, many
miles have been added, and there are yet
several roads asking to be included in the
design. Thus appearances favor the idea
that there will be but one Railway Corpo-
ration in Canada: for the charter of the
Grand Trunk permits it TO incorporate
within itself, by purchase, any road which
intersects it, throughout its immense length.
The location of the upper portion Of the
road is unsettled, and great variety OF ne
gotiations are in progress concerning it.
The line as defined by the prospectus OF the
Company. however, has its commencement
or upper end Sarnia, at the Southern outlet
of Lake Huron. Thence it extends to To-
ronto, distance Of l12 miles; from Toronto
il follows the north shore OF the Lake and
the st. Lawrence. through Bellevile and
Kingston 10 Montreal, 345 miles. AT Belle-
vile, about 80 miles above Kingston, this
line is intersected by very long branch
coming down from Penetangushine. on the
Georgian Bay through Peterborough,
about li0 miles. At Montreal the road is
TO cross the St. Lawrence upon magnili-
cent tubular iron bridge, costing some ST.
500. COO, a mile and a quarter in length, or,
including the solid entertainments al the ends.
Two miles This bridge will be unequalled
among the great works of the world. 1t
will have in the centre an elevation of 100
feet above the channel which is attained by
an easy grade on each side. Twenty-Five
massive piers, with spaces of $50 feet be-
tween them, support the structure, and the
most sklllfui arrangements are made to pro-
tect il against the ice which in the spring
comes crashing and piling down the liver
with awful power. IL was first proposed To
build the bridge of wood, but that plan has
been abandoned for the more permanent one,
Having crossed the river, the road follows
the line Of the st. Lawrence and Atlantic
Railroad, now owned BY the Grand Trunk
Company, 10 Richmond, where il diverges,
one branch continuing on to Portland, while
the other turning toward the river, tOuche,
it at New Liverpool, opposite Quebec and
then follows its course To Troi- pistoles, al
the mouth ofthe 81. Lawrence. distance Of
l53 miles below Quebec. The St Law
renee and Atlantic Road, from Montreal To
Portland has been open throughout its
length for nearly u year. The road from
Quebec TO Richmond is nearly ready for the
iron. The section from Toronto to Sarna
is contracted 10 be built Immediately, and
one-half this distance, from Toronto To
Strattord, has been constructed during the
past season.
The capital stock Of this Company is
about ten millions OF pounds sterling, or
about S48 900 900. OF this sum $1,000
600 are reserved to pay for works already
built or contracted for by other companies
Halftie remainder is issued in shares Of
stock Of Eos sterling each-but only one
half OF this amount is TO be issued at present,
the contractors having agreed to take the
other half, although they have engaged to
give the shareholders the chance to take up
two-thirds Of this moiety, on or before the
first Of July 1854. About one-quarter Of the
S37 100000 is issued in debentures Of the
Company, payable in 25 years, and convert
ible into shares before January /, 1868
The remaining quarter is in debcntures,
convertible into Bonds Of the Provincial
Government payable in 30 years, with in
terest at six per cent.
In ord.r to assist the Company in raising
stock, the Provincial Government makes to
it loan Of fl0,50O sterling upon every
t4O, 900 Of pad-up stock, the road being
pledged as security So much difficulty was
experienced in obtaining subscriptions that
the Government has anticipated little, and
has issued f3,000,000 of its debentures, the
Company guaranteeing to pay the interest
upon them until the completion Of the road
Now, every stakeholder, upon the payment
OF four instruments of ten per cent, is en-
titled to purchase one of these bonds for
t 100 for each share which he owns, thus
iusuring TO himself at least three per cent
upon his investment until the completion Of
the road. 1t is said that the stock is nearly
all subscribed for, and one would suppose
that it might be if Englisllmen can believe
the prospectus. For in that document is
demonstrated by the most perfect array of
fncts and figures the absolute impossbil'y
Of the roads paying less than eleven and
half per cent. from the moment fits CON-
pletion.
The contractors for this work are the
great English firm Of peto, Brassey, Belts
Jackson & Co, who build the road, stations,
machine-shops. cars, and engines, pay for
the land damages and engineering, and in
fact, take upon themselves every part Of the
construction and completion oil the work
They receive for their services $4,000 ster-
ling per mile, for the whole work, except
the bridge al Montreal, which in a separate
contract. The construction and engineer
ing Of the road are under the supprlntend-
ence Of Alexander Mckenzie Ross, Esq, OF
England, Chief Engineer, and Samuel
keefer, Esq, Of Montreal, Assistant En-
giHecr, who are the sole engineers employ
ed by the C0mpun the res: of the Immense
STAFF required being paid b. the contractors,