Glasgow weekly times. (Glasgow, Mo.) 1848-1861, 1855-04-19
S4,O95,000
15O,S55
To this sum may be added

S4,O95,00O
To this sum may be added 150,S55
Total...... ............ ........ S4,245 ,S55
This lostsum Of $l5O,S55, is the amount
which it is estimated the contractors will be
required 10 take OF the convertible bonds Of
the company under their contract TO build
| the road from St. Louis TO the Hannibal and
St. Joseph Railroad.
In addition TO the foregoing amounts, it is
understood that Montgomery Co., has voted
to subscribe fifty thousand dollars, which
will increase the total amount to Sd, 1885,
S55.
Deduct from the cost of the road the
means above estimated and it will leave a
deficit of 81, 795, 4l0,25, which will be ne
cessary for the completion of the road.--
How is this deficit TO be supplied? ASST
ming that we may attain additional aid in
the shape of State credit TO the amount of
100000, there still remains $3,795, 40
25 TO be provided for. AS much as posi-
bic of this sum must be raised by addition
al stock subscriptions in the counties along
the line OF the road, and the remainder, SO
far as we are able at present TO perceive,
will have 10 be procured by loan or loans,
upon such security as the company will be
able to offer after all these means shall have
been expended.
1t is obvious that the greater amount of
stock subscriptions the less will be the loan
required, while the value and the extent Of
the security we can offer, will, at the same
time, be correspondingly increased in in
verse ratio, when it is remembered that the
terms Of loan are necessarily regulated by
the amount loaned and the extent of the
risk, relatively considered, it will be seen
that upon the amount of additional stool,
subscriptions it depends whether we will
have eventually to make great sacrifices in
order to command the possibility of ever
completing our road. This consideration
appeals with great force both to the present
stockholders and to those non-subscribir g
counties and individuals who are SO vitally
Interested in the speedy completion of the
work. IL the former, for renewed ac-
tivity IN advocating the claims Of our enter
prise, and to the latter for greatly lessening
by comparatively snail sacrifices on theil
part, the delays and difficulties of its con.
summation.
With regard TO another loan of the State:
credit, it is thought that we may obtain il
free from any condition of additional stock
subscriptions, but with requirement tina
the money provided thereirom shall be ex
) pended under the supervision of persons Il
be appointed by the Governor or Legisla
) ture for that purpose. II, together will
this aid, the State will release her first liel
upon the road and its material, and author
! ize The company to issue its bonds, secures
1 by mortage upon the same pre- perty, W
q may then see cur way clear for compile
} ton of the work to the Iowa State line, an
e this, in all human probability, within thre
= years from the present time. Without sue
e release it would be idle 10 talk of borrow
: ing money on the credit Of the road. Capt
Y ta is timd, and requires undoubted evi
d dence OF security TO invite its investment
S Eastern or European capitalists could new
= er be expected to lend us money upon sec
: ond or remote security, which our own stat
d had refused 10 recognize as sufficient 70
Y her loan of credit. We would have to sa
o TO them in effect, we want your money
a But although the State of Missouri, whic
It is deeply interested in the successful prose
Il cution OF our work, has declined 10 conside
S anything less than first lien as reliable Sc
II ourity;yet we must ask you, who have Il
= such interests whatever at stake, to tire;
: us with greater liberality.
e 1t has been the settled policy Of the preseI
: directory, to avoid squandering its resoul
= ces, by commencing the work at variou
lie points along the line, course which migl
10 exhaust our present means without compile
& ting any portion Of the road, but only con
N mcnce such work as they felt confident
= being able to complete; SO that if we shouI
ell fail to obtain means to finish the whole roa
tie the means of the company, as far as expel
t, ded, would be available.
n We think that, without allowing oil
s. judgements TO be blinded by partially, v
m may well consider the enterprise in whic
lie we are engaged, as of more real importan,
er TO the interests of the State of Missouri al
I'd to the city of St. Louis, than any other no
in process. We would call your special g
IS tention to that part of the Chief Engineer
rs report, with the accompanying map, whi'
al exhibits the number OF railroads tapping Il
N resources of the State of Missouri and Iov
l. on the east side of the Mississippi, thus j
N viting TO the markets of Chicago and 4
10 Atlantic cities, a trade which properly b
le longs to st Louis. You will there pc
pit ceive that, of these roads, there are compl
H. ted, or in rapid course of construction, n
re less than five roads already laying their ir
tn grasp upon our trade, with the certainty
I'd completely carrying it away, unless we C
= effect division by offering market near
It, and more cheaply to be attained by the Nor
n Missouri Railroad In order TO reach CT