The Perrysburg journal. [volume] (Perrysburg, Ohio) 1853-1861, 1855-06-16

Railroad Meeting.

town on Thursday evening June l4lh, 1858,
which was organized by calling George w.
Baird to the chair, and appointing S. Clark
secretary.
Mr.. Way was called upon to address the
meeting in explanation of the objects for
which it was called and to give such inlor,
nation as he might choose to communicate
as to the prospects Of the Junction ralIroal
company. Mr.. Way responded to the call
i'm some pertinent remarks, AMI concluded
by Offering the following resolutions, which
were adopted
Resolved, That the town of Perry5burg
by the conditions of its subscription of stock
in the Junction Rail Road CO., and the tern S
of the consolidation of that road with the
Toledo. Norwallf and Cleveland r. r. CO.,
has legal and equitable right to require an
immediate construction Of the line Of road
from Sandusky by Port Clinton, Perrysburg
and Maumee to Swanton, and therefore we
request the town council Of Perrysburg and
the trustees of Perrysburg township to i'm
mediately take such measures as the circum-
stances may require, to secure at the earliest
period compliance with the conditions Of
said subscriptions of stock and the terms Of
said consolidation.
Resolved, That the secretary of this meet
ing furnish the town council of Perrysburg
with copy of the foregoing resolution and
the proceedings of this meeting.
Mr.. Way stated that the subscription Of
stock by this town to the Junction road, was
made upon the express condition that the
road should be built through the town; and
he read the terms of consolidation of the
Junction and Toledo, Norwalk and Cleveland
companies, to show that this condition was
fully recognized and assumed by the consol-
dated company. In the first place, the road
was to have been finished two years ago
Under the consolidation, it was understood
that the work should b. urged forward to
immediate completion. But all the promises
of the company to complete the road to this
place have thus far been violated. And the
prospect now is, that if left 10 their own
course, the company will either neglect to
build the road altogether, or else postpone
its completion till about a year from next
September, thus making this link the last to
be completed in the whole line from Ceve-
land to Chicago. This treatment is Aagrant
want of good faith towards the town, and
should not be submitted to if the town have
any remedy.
On motion of E. Graham committee of
five was appointed by the chairman as fol-
lows Messrs. Graham, Way, Murray, Nor
ton, Beach, to investigate the legal rights of
the town and the future prospects of tie
road
Dr. Peck, then made a statement as to the
condition and prospects of the Dayton road.
He said the assets of the road We're abundant
to completeit, but that time is needed to con-
vert them into money. He read from the last
annual report of the directors, showing that
the ultimate prospects of the road are very
good, but that the strngency in the money
market so seriously embarrasses the company
that il is with the greatest difficult its cur
rent expenses can be met and its credit main
tanned unsulled. No great amount of work
has been done on the road during the year
past, but large amount of the floating debt
of the company has been paid off, thus re-
lieving it from the constant drain of paying
large sums for interest. The prospect is,
that a sale Of bonds will soon be effected,