The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-07-16

70 take With yea tovsrds Tho protsctioa a ssll
stek1
.. VIZ ycu b kind ssoush 20 submit V ~ -
proposition you may have 70 mako towards the -.
com JlishmAct Of SAID 0bjoCt7
In the commuuic ,tlon which I addressed b ~
Ma Or. on the 29th ut. ms ohjscs wss 90 bsiag ~
forc bis MUD the fact, that mssns hA been pre-
vided fer the cmpletiou Of the work on TIE rosA
the interest on The bonds II THE company due o. ~
LIST ibstsnt end III ther. that this being dose, ~
by II the road saved fron sacrifice 70 toe Ast aAA
second mortgage bondho'dem, was ready and
willing still 20 csopera'e with Tho city In auy peo
FER plan sSich |. might dsv - TO and peotsst
we interests of all tue stockholders u he compeay.
but J d. not expect 70 be called upoo 20 make .
Piopts,aon te tho city for the accomplishment q
= As tissidtn, Of the OHIO and Mississippi RslrsAA
otnPs.y, y - not within my po~or 20 make
psaPosuht but via vie~ q fAc,ll,AsioG ysae
tnorts, ana with "a aid-rt destso for the adopa
o. some Plso who shall .fiectu ally protsc. s,e n
toseet OF TIE stoca holder WA provide fey Sss d
qud.tou o. 81 tar !. d. be inssa o. tho company,
u ~, maze yeu ICE iol,wi.s proposition. ~hioS, =
~ % my firm. Psge Basop vz:-
!. The r. I'D being sofa un Ter the dssd or srua
and vesesd Ia tho "a ~ purchasing, sapsct V tAs
terms OF sg'tt mrnt between the Guy and Pars q
Bacon ~ hereinafter exp essed. pro ,oss thss the
city shall have until The hrst dsy Of December .sr4
to determine whether che will redeem the pge-
petty I'D r.iIvs. she company with the hus
and full potste. Ion OF Q, on tho following oeadi
tons, viz
i. IRE i,y shalt pay to Page 4 Bacon, or u -
atsgUs. fbs fnt srngunt OF ths dead OF trsst exc.
suGd by the OHIO Auc M'ssissippi Raroat C,upar
40.
2. Ths. 10 addition to above, the city shall pay a
tbs said Page d B,c,n all moniss property expsal
cd accCurt Of tho rosd CT Tor the Com sssy sab
Gqsert 10 the Co Of the aforesaid deed u Gask
ny toe n ne OF the retsrSfer Of the properly q
aftsesaid under the trust to the Company. with h.
kIttt THEREOF.
g. That for the money 40 advanced or furaisAsA
by che oity, toe Ohio and Mssissiopi Railroad Cen.
Pany shsf agree now. or before the consummaasa
Of he arrangement by tha pay usnt Of the asaag
BY She city ~ siors said. shsi /, viii Issue 70 tas
CITY Its third mcrtg. gr bonds for tho full amosak
OF sAid advances, bearing Interest at 7 psr osat,
pa sble teutsDnusly 10 to city OF New York, aaA
having twsnfy year. TO run.
4. Tbs, II the city, On the arm day Of DscsmbG1
next. sisninss fs itten,ios, In . msnner binAiag
upon IL, that tho foregoing fangsment or psaesa
ttou VIII b. carried out, the further time q threa
months 10 hereby extended for tho full paynsss -
the mpn,y, ~ exprtsscd In sections 6rst and seosoA
OF this proposition.
TIE Legislature Of this State meets 10 HovsnSx:
and. In m4sing tins proposition. nave extended
o.: sanction s ~ Fer
Leccs@ary To cNry out tho provsioos OF this props
ton, should II be deemed important. that the otv
has lot nov the requisite loser 70 do -.
! have still further added 20 the tme-&hree
months sfter tho formal aid binding OBJ isssios q
tho city has been executed to give the city aupls
time 10 dsl ofe OF ifs securities 70 meet the requre
men's Of tire case.
NJ anxiety 20 preserve, intact. the Interests u u
PaItits, bias ed me 20 ask Tor no bonus-n0 eAvsa-
tsge GROWING GU. Of my petition. stall fssl snply
compeDsA'ed for ihe extra ordinary advances W
bavs made and are npd r. II, by this plan, the o.
jectA In Wow cAD he &C ON pIlshcd.
TO my micd the plan NJ ms fea,ibie. Tue, ~
advance which Il Involves IL q largo one but spN
ur ub.d feturlty. The road IL nov opsaed ~
eLiiye 1epg,h, and its ineyi iabie incoms will sosa
lamp u ~ the best, GOT the bsst. road q
te couJ Try. III tnis arrangement its DO alal
cebt wil BE- fer belt tsc cost Of ioa ,A
the most fevor sble auspices and the mod ccsssaf
ca management.
But u ts Ter you, gentlemen, and the city, 70
weigh tae ressof tor aud asalnst the pro ,os.Nsa
AID my only apology f,r cntrpg sny 70 your o.
his Grafton IL from jour emit cearc, Ia tho leNr
befo'e ne, aDd n the lie sorkl ia,ervesa I have
had With some Of you, for my own personal via ~
upon this tubeot. ihA, have yenturcd to give .
few Of neN.
Again assuring you, reo.lemsn, Of my ardent a.
sire 70 do al IL my power 10 cooperate with 20
III TIE nc justmeLt Of ttis important InoAaurs, ~
main, very r,1ptc ifdiy, your obedispt servant.
II. ID. BAooH.
Tbs report va refer cd 70 Select Con Uttsse,
ctmiostd q Messrr. ColiIan, VOLS AID rhotabsrg.