The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1855-10-16
TO THE CITIZENS OF xEoxux

l accordance with resolution Of the City Council
L hereby submit the folio wing statement of tba
obligations and liabilities of the City in regard to
Railroad enterprises -
On the 18th day If May, 1853, the question Of nm.
thorzng the City Council to subscribe to the stock az
the Mississippi Il Wabash Railroad "A sum NOT ~
ceeding 500, 900, submitted TO vote of the cit
ze Of this City and carried almost unanimously
~ the tiine oi the opening Of the subscription
books for the Mississippi Wabash 4. Il. at Warsaw
III the month OF june, 1893, g. III. Perry ESQ sub
scribed the Of $500 to the stock Of said road
inns, though taken IN the name If Mr.. Perry il il
understood is ~ be paid by the City
In june 1858, subscription If S99500 was made
to the stock of the Nj. d W. X. r. Go. by the MAYOR
Of the City, acting under resolution Of the city
Council,) upon the following conditions, viz:
lsi That the sad Mississippi Wabash Rail
road shall bo located from Warsaw East for The dis
tancs Of miles, subs antlally the old Peoria and
Nar-aw Railroad track, and at the most cony enient
and nearest point to the of hrokuk in the State
OF Iowa, permanent depot shall be established and
maintained by the said Mississippi and Wabash Rail
road Company
"a. That thu City Of keokuk shall not be liable
r. pay any portion Of said subscription IT, said stock
beyond the five per cent until the whole II said road
shall be placed il good faith under contract OF that
the Iiy council OF the city Of keokuk shall be rga
sonaby assured that satisfactory arrapg emcnts ue
made t1secure the completion If said Road.
In order to arrive al conclusion as to the
present legal and moral obligaionof the City under
tn aforesaid subscription, Il may b. necessary %
STATE the present situation # thcabove Road a. we'll
to gave copy Il the Law If this STATE, passed at
the last session Of the Legislature.
Az meeting of the Board of Directors ofshe NJ
W. r. H., held at Chicago IN June last to take into
Wcstcrn Division of said road from Warsaw 10 lis in
trseetion with the Railroad running from Quincy to
Nalesburg, an executive committee, consisting Il J
". lngersol, If Canton, lis, ~- Hunt, Of " ar
saw, and ii ". Sample. Of this city was appointed.
THIS Committee were duty authorized use the sub
srrptons heretofore made To said road in the City Of
keukuk, and the county If Hancock also TO pledge
the faith Of the Company the amount If $500 900
and to take such measures they may deem neocssa-
~ to Insure the completion IF said Western Division
Of the road.
The action Of the Directors in making he appoint
Of Ii. " Sample a member of the Executive
Committee for the City of htokuk, approx ed 10y
the CITY Council, by ut resolution passed june H.
1899. and at a subsequent meeting of said Council,
June 10th, tic following proceedings were had, viz
~ communleai lon was receIy ed from Ii. w. sam
pie, member Of the Executive Committee of the
Mississippi and abash tsaIiFoad oln pany and after
debate the following was adopted, VIZ
Reso'r.d, That ths representative Of the city in
The Executive Committee of the Mississippi and
net in said COMMITTEES with the assurance that the
subscription Of he city Of keokuk, for 90 600 dol
lars viii be carried out IN good faith and the Bonds
issued may be required TO build the Western Diyfs
ion Of said road.
La accordance with the above resolution the Nom
her Of the Executive Committee from this city has
given assurance 10 thr citizens 81 Hancock and Me
Dunou-h counties that he said Bonds will be issued
whenever The cty Council SHALL be satisfied that the
Western Division Ut said road Is put IN shape to in
sure its completion.
The following is copy Of the Law passed last win
ter and ref rred to above.
"Section !. BE it enacted by the General Assembly
Of the state Of Iowa, That ia all eases where the
county, city or town Interpretations have, on NAV
hereafter beeume Stockholders ~ Railroads or other
private companies or interpretations il shall ma. be
t4tlf J4f ttsq Hut. al
II such cities issue The bonds Of their
cltls counties until they SAT- fed that the con-
templated Improvements VIII be- constructed through
or to their pecye cities counties, within thirty
SIX months from the issuing and delivery Of said
bonds. and the proceeds IF such bonds shall in all
cares b. expended within the limits Of The county
in which said city may be situated Pyovided, that
nothing III this act shall ia way at 81 corporal ION
ghts for any contracts or subscriptions therefore,
made within any railroad company or corporation
for the ssning Of county corporation bonds"
On he eth day a January, ls5i. the eity Council
were uthorized By The unanimous vote II the peo-
pie, 20 subscribe stock 70 the hcokHk Forl Des mones
and Minnesota railroad company the amount Uf
200 600 dollars SO to subscribe an additional sum
Of $1,000 dollars to the Mississippi aud Wabash
kaiiroad Company. The subscriptions authorized
above have never set been made, bat thu city nd
sanced ~ cash the X. FL J.. NJ N. II. Co., 10 Zoe
ol TIVE thousand dollars 70 pay portion Of the
expences II the survey.
An election was held on the ed If September last
he result Of which that tbs ei4y CoQneii was au-
horized 70 loan the credit Of the city the keoknk
Nj. Pleasant and Auseafne Railroad Company 10
the amount 81 one hundred thousand dollars.
Reca pituiation.
Amount subscribed rs &. II Perry 70 the
Ma ". R.R. 800
g subscribed by CITY Of keokuk
70 the VI. Il W Il. Il. g9500
* authorized 10 he subscribed u
tie VI. 4 II X. r. SO GOO
authorized IT, ba salscrihed to
the n Fl. Il. K VI. r. H. Co zoe 900