Glasgow weekly times. (Glasgow, Mo.) 1848-1861, 1855-11-15
Governors Message.
ExrcUTIvE DEPARTMENT,
JEFFERSON CRY, Mo-, Nov. 8, 1866.

House Of Representatives:
The condition and prospects Of the sever
al railroads, the construction of which have |
been undertaken by incorporated companies,
aided by the credit of the State, has, in
considerable degree, excited the attention Of
the people during the recess of the General
Assembly. | deem it my duty, under the
Constitution, TO call your special attention TO
the subject, and invoke such delberation
and action thereon, as, in your Judgment
may be required TO promote, protect and
advance the interest of the State, consist
emily with the observance of good faith TO
our creditors, and TO the people, whose
agents we are.
BY an act approved the ODD day of Feb
ruary, 1851, it is provided that, "when the
Pacific Railroad Company shall produce to
the Governor of the State satisfactory evi.
dence, by the affidavit of the Treasurer and
two of the Directors Of said Company, that
the sum Of fifty thousand dollars, collected
on the capital stock of said Company, has
been expended by them in the survey, loca-
cation and construction of their railroad, he
shall cause TO be issued and delivered TO
SAID company, as q loan of the public credit,
special bonds of the State TO the amount Of
fifty thousand dollars, bearing an interest of
six per cent. per annum, from the time they
are negotiated in the hands Of the holders,
payable semi-annualIy; and after the expen-
diture Of the whole Of said sum Of fifty
thousand dollars, realised from the sale OF
said bonds, whenever said Company shall
produce like proof to the Governor that they
have expended the further sum of fifty
thousand dollars of their own moneys, COL
lected on their capital, in the actual con-
struction Of said Railroad, the Governor
shall, in like manner, cause 10 be issued and
delivered 10 said Company, further like
bonds TO the amount of fifty thousand dol.
lars; and in like manner, as often as said
company shall, from time to time furnish
evidence Of having expended from their own
moneys, collected on their capital stock, fur
Their sums Of not less than fifty thousand
dollars each, in the construction of their
road, and that they have also expended the
whole proceeds OF the sales of the bonds
previously issued by the State, in the con-
struction of their SAID railroad, the Govern
or shall cause TO be issued and delivered to
said Company further like bonds to the
amount of fifty thousand dollars each time;
provided the total amount Of State bonds 10
be issued and loaned to said Company shall
not exceed two millions of dollars; provided
that no part of the said bonds shall be delv-
cred to the said Company, until at least one
million and half Of dollars has been SUBJ
scrbed in good faith 10 the capital stock Of
the said Company, and satisfactory proof
thereof has been made to the Governor"
The second section of said act Of the Gen.
eral Assembly also provides in like manner
anI t1,o o,1 condition, 70,
=, loan of the public credit 10 the Hannibal
ssaad St. Joseph Railroad Company" 10 the
amotnt of one and half millions of dollars
upon'the production of satisfactory prooftc
the Governor, that at least five hundred
thousand thousand dollars, in money, or its
4 equivalent has been subscribed in good faith
. TO the capital stock of said company. BY
an act of the General Assembly, approved
the Odd day OF December, 1852, it is pro
vided, that, in like manner, and upon the
same terms and conditions, loan of the
public credit shall be made to the "Norti
Missouri Railroad Company" to the amour
Of two millions Of dollars, upon the pro
duction of satisfactory proof 10 the Govern
or that at least one million of dollars ha:
been subscribed in good faith to the capita
stock of said Company.
BY an act approved the 18th day Of De
cember, 1852, it is provided that, in lik
manner, and upon the same terms and con
ditions, a loan Of the public credit shall b.
made to the Southwestern Branch Of tn
Pacific Railroad, to the amount of one mil
lion Of dollars, upon the production Of salts
factory proof TO the Governor, that at leas
five hundred thousand dollars has been sub
scribed, in good faith, to the capital stock 0
the Pacific Railroad Company.
The eleventh section of the same act pro
vides that an additional loan shall be mad
10 the Pacific Railroad to Kansas, upon tn
same terms, conditions and liabilities of tn
first loan made to said road " Provided, tina
the total amount Of the State bonds to be is
sued TO said Company, under this section
shall not exceed one million of dollars, an
the said Company shall complete the sal
line to its terminus, in Jackson county, an
put the same in operation within five year
after the passage of this act" And by a
act of the General Assembly, approved III
23d Of February, 1858, it is provided,
substance, that, in like manner, and upo
the same terms and conditions, loan Of tn
public credit shall be made to the st. Loui
and Iron Mountain Railroad Company,
the amount of seven hundred and fifty thou
Sand dollars, upon the production of sati,
factory proof TO the Governor, that at lea'
three hundred thousand dollars has bee
subscribed, in good faith, to the capital stoc
of the said Company.
BY an net approved March Sd, 1855,
further loan Of the public credit was autho
lied to the Pacific Railroad to the amour
of three hundred thousand dollars, upon Il
anna farms ond ron1itinnS aS therpt n fin
provided, and upon the further condtiC
that the State credit thus loaned, shall
applied TO the surveying locating and col
structing and equipping said road west
Jefferson City, and that the amount theret
appropriated, when added to the bonds
the State already disposed of to the credit