The weekly Lancaster gazette. (Lancaster, Ohio) 1852-1855, 1855-01-25
Rnilrond Proceedings.

pOrtance 10 the people of this county. In
its present state. they do not reap the ben
efts of the road fully, either In facilities
for business or in the increased value of
lands. As yet we have no connection with
the eastern cities. When the road is COM
pleted to Zanssville, we shall have direct
communication with Baltimore, Philadel-
phia and New York. Tie business Of the
road then in the transportation of passen-
gers and freight will undoubtedly amount
to ten times the present rate. aud their re-
ceipts will be equal TO almost any road of
the same extent in Ohio. We may expect
to see as many passengers over this road
daily, as are seen upon the road from Co.
lumbus to Cleveland. IT viii be first
class road. and the lands of this county
which havo, in consequence of the road,
been enhanced at least 25 per cent, will
receive farther increase in value. But
independent of this, the vast convenience
OF the road to our citizens cannot be esti-
mated. What would our county be to-
day without it? What sensible man would
consent to see it removed or Destroyed
II it is Of SO much importance to us in its
unfinished state, what will it be, when it u
mites us TO the cities Of the Atlantic?
But important as the completion Of this
road is TO our county. it is probable it will
not be completed without material aid from
our citizens. Money caphot be- raised in
the east, except upon such terms as are ru,
inOus. This company is compelled to ap
peal 10 the people on the line OF the road
for that pecuhiary assistance which they
expacted to receive from capitalists il
Wall street. But they do not expect o.
ask this aid, in the shape of further sub
J scripIions TO the stock Of the road, but il
the shape of loans secured by an ampl'
mortgage upon the whole road. with al
its machinery, and bearing good rate o
interest. They propose to sell the bond
of the Company at the low rate Of rs cents
} on the dollar, upon which bonds, the in
, terest is 7 per cent, payable semi-annuall,
in New York. This. rate ofinterest, tim,
and place of its payment, being considered
is equivalent TO moro than por cent. Tn
investment is perfectly safe and the remu
r neration is reasonable. 1t is safe becaus
The whole road and its machinery, and q
the stock subscribed, must be sold and ex
hausted, before the bond holders could sui
fer The interest would DO paid. thoug
the stockholders would never receive
Y dollar Of dividends.
:. Tho Company has received strong as
surances that tho amount OF bonds whc
= they propose IN sell in the other countie
e upon the road, will be taken by the citizen
v thereof. They expect tho people Of Fail
d field county 10 take bonds to the amour
of $4,000. We have the money here
we will consent to invest it.
= What may be the consequence, if th
II people will not aid this Company, and tn
1t money necessary to the completion Of th
!. road cannot be raised. The least disa'
:, trous result will be that the road must sto
at Lancaster and we must lose all the aC
d vantages Of a line Of railroad from Oincir
natl TO the Atlantic. This is the least
the evils resulting from the failure of til
road. There are others Of greater DANCE
l. II no more money can be raised, the Con
d pany cannot pay the interest upon the
ot present dobt. for their present receipts al
- not tho tenth and perhaps not tho twentieI
: part, Of what they must be when the ca
10 can run from Cincinnati 10 GAINESVILLE.
the interest is not paid, the present bcr
h holders will foreclose their mortgage, ar
il: take the road for their debts, By this
q vent the whole stock Of the Company W
IN be sunk. Not only will tho individu
in stockholders suffer, but the county W
n loso the $500, 900, which our commissio
N ers subscribed, and tho people must
taxed TO pay this sum of money, which
% the event spoken OF, will be forever lost
or The road would pass from the control
d, our citizens into the hands Of strangers.
I'd 1t will not cost much to finish the roi
'e from Lancaster TO GAINESVILLE. and wb
ly completed, the receipts OF the Compal
he cannot be less than 5000. 900 and perha
ry 5000, 900 per annum. IL will then be il
condition to pay all its liabilities. and me
the interest upon its bonds, and the bon
US themselves at maturity. with promptne
on Will our citizens suffer such calami
sy as the failure of the Company to happe
A. when by lending their money upon pt
vas iectly safe and profitable terms. they c
m preventit. Will our rich men, especia
>, those who have grown rich among us, {
~ ~ crcse little liberality and public spirit
- :, wards this important enterprise?
~ ~ A statement concerning the present CO
81 d:tion Of the road from Mr.. Corwinis fou
Nv below. es
JANUARY. 10Th l855
70 SIR:-The cost Of completing the C
to cinnati, Wilmington and GAINESVILLE r,
road from Lancaster to GAINESVILLE as ei
'ro mated by the Chief Engineer is as folio,
u- To complete grading, bridging, tra'
n; laying &c,. (including every item Of
ol- pense except iron) from Lancaster to
X Tunnel 22 miles, $3.50 To compl
the road from the west end Of the tunnel
les the Muskingum River. 90 miles. includi
sh every item as above, except iron $63,C
Total, $3.50
Of Iron estimated at $50 per ton s9lo,C
na -