The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1855-10-17
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10 THE CITIZENS OF KEOKUK.
/ accordance with a resolution Of the Cftv Coune;,
1 hereby submit the following .'Statenent ~ ths
obligations and liabilities Of the City in regard L
Railroad enterprises "
), On the z5th day Of $50, the question Of au.
the Mississippi i Wabash Railroad sum not ar.
ceedng Sl00 900, submitted TO vote Of the Gil
zcns of this City and was carried al most una nj mousy
Al the time ot the opening of the subscriptions
books for the Mississippi Wabash X. X. at Warsaw
1 IN the month OF june, 1893, {. II Perry Esq sub.
scrlbed the Of 5000 to the stock Of said road
TINS, though taken IN the name IF Mr. Perry, ii il
understood IL to DC paid by the CITY
4 IL june, lS53, subscription Of $40 500 was mad.
to the stock OF the NJ Il W. X. X. Co. by the Mayor
Of the City, (actlng under resolution of the City
Conneil) upon tia following conditions viz
" ST That tho said Mississippi 4 Wabash Rpil
road shall be located from Warsaw East for the dis
.ance Of miles, substantially the old Peoria and
Warsaw Railroad track and at the most convenient
ami nearest point 10 the city of keokuk in the State
OF Iowa, permanent depot shall be established aud
maintained by the SAID Mississippi and abash Rail.
read Company.
I'd. That the City Of Kcokuk shall not be liable
to pay any portion of said subscription to said stool
byohd the five per cent until the whole Of said road
shall be placed good faith under contract or that
the City Council Of the City Of keokuk shall be rea
sonhhiy assured that satisfactory arrangements are
made to secure the completion If said Road"
IN order 10 arrive at correct conclusion to the
icphI UlBTal ODEhtlOn OF the ttty under
the aforesaid subscription. 1t may b. necessary To
state the present situation II the above Road as we'll
a. 70 give copy II the Law If this State passed at
the last session Of the Legislature.
Al meeting Of the Board of Directors of the
W. X. R. held at Chicago in une last to take into
consideration measures for the completion of thu.
Western Division Of said road from arsaw to ts in
tersecton with the Railroad running from Quincy to
tale burg executive committee, consisting III
". Ingersol, Of Canton, Ills. -- Hunt Of War
saw. and II. ". sample, VI this city, appointed
This Committee were duly authorized TO use the sub
srplons heretofore made 10 said road III the City Of
keokuk, and the County Of Hancock also to pledge
the faith of the Company to the amount of $500 00o
and To take such measures they may deem necessa
~ TO insure the completion Of said Western Division
OF the road.
The action Of the Directors in making the appoint
meut of III. ". Sample n member of the Executive
Committee for the City Of X, okuk, was approved by
the City Council, by at resolution passed June ,
1913, and at subsequent meeting Of said Council
June 10Th the following proceedings were had viz;
"A communication was received from Ii w sam
pie. n member of the Executive Committee of the
Mississippi and Wabash Railrosd Company aud after
debate the following Wa adopted, viz
Resoircd, That the representative of the city in
the Executive Committee Of the Mississippi 4 and
Wabash X. X. Co. b. and is hereby authorized to
act in said Committee with the assurance THAI the
subscription Of he city Of keokuk. for 90 900 dol
lars Will be carried out in good faith and the Bonds
Issued may b. required to bal I'D the Western DiYis
ion If said road
In accordance with the shove resolution the mem
Der If the Executive Committee from this city has
given assurance 10 the citizens Of Hancock and Me
Donough counties. that the said Bonds will be issued
whenever the cit Council shall be satisfied that the
Western Division Of said road put u sbap pc TO in
us completion.
Tho following isl copy Of the Law passed last WIN
ter. and referred 10 above.
"Seefion !. h, il enacted by the General Assembly
If the State OF Iowa, Tina. all where the
county. city town interpretations have or may
hereafter becono Stock holders in Ralroads, other
private companies interpretations, il shall not be
lawful for the county Judges Mayors or other agents
Of such critics counties 10 he bonds Of their
cities counties until they satisfied that the con
templated Improvements wlll be constructed through
60 their respective cities counties within thirty
TX m1nths from the issuing and delivery Of said
bonds and the proceeds Of such bonds shall in all
eases BE- expended within the limits Of the county
in which said city may b. situated Prorided that
nothing In Tins act shall IN way affect corporation
rights for any contracts subscriptions heretore
made within any railroad company corporation,
for the issuing of county corporation bonds
On the Eth lay of January. 1894, the city Council
were authorized BIZ the unanimous vote Of the pep~
pie 70 subscribe stock he heok uk Fort Dies
and Minnesota Railroad company to the amount Of
$50 600 liars also TO subscribe additional sum
Of 3A.0eo dollars the Mississippi and Wabash
Railroad Company. The subscriptions authorized
abost have never yet been made, bat th9 city ad-
,aneed cash the H. TT. h. NJ. ". Il. co.. to the
sain of two thousand dollars 70 pay portion Of the
exrences If the survey.
An election wa held on the 22d # September last,
the result Of which thai the city Council
thorihpd 10 loan The credit Of the city 10 the heokuk
vi, Pleasant and Muscatlre Railroad Company to
The amount Of one hundred thousand dollars
KccapiIHintion.
Amount subscribed bJ G. II Perry to the
M.4w.RR. zoe
q subscribed ~ City If ktokuk
10 the NJ. W. r. r. 90 100
authorized 10 b. subscribed to
the NJ. q ". X. H. 10000
. authorized w. subscribed to
the X Fl. u. & ". X. Il. CO. 200, o00
. authorized 10 he loaned 10 h. Mt.
PA VI. r. RICO. 100000
Total. S4g,s zoe