Weekly Indiana State sentinel. [volume] (Indianapolis [Ind.]) 1853-1861, 1855-05-17
Evansville, indianapolis and CIev re
land Straight Line Railroad.

Evansville, Indianapolis and Glove
land Straight Line Railroad.
We have received from the Hon. o. II.
SMITH, President of the above company, the
Annual Report Of the Directors for l855.-
We make some extracts for the information
of our readers
ASSETS OF THE COMPANY.
The Report of the Secretary and Treasurer
is referred to, showing the state of our finan- /.
ces, by which it will be seen that we now
have ON subscription in cash and equivalents
S491, 961. In real estate at cash valuation,
which has been conveyed to the Company,
S357847. In real estates subscribed, but
not vet conveyed to the Company, $l5OOOO. /
In subscription of Contractors, payable IN
construction. $4,000 To which will be
added bonds for iron, amounting to SlO,OOO
10 the mile. To be first mortgage bonds on the
road, and payable to the Contractors at par,
i, 10000, making in all up to this time,
applicable 20 the construction of thetroad,
e3 299 sos. This is exclusive of near
$4,000 of subscriptions conditioned upon
the location of the road upon lines not adopt
ed ly the Board, which have been stricken
1 from our books.
/ While it will be observed that We slall re-
auile much larger subscriptions, or increase of
stock, to enable us to complete and eqtpp the
whole road, it will be seen that upon the
policy we have adopted of approprlatlng our
means to one division at 4 time until Itshall
be put in operation, no road that ever was
built in the State had anything like the ad-
vance strength of our road and it mn be
assumed with entire confidence that wecan-
not fail of complete success, III bulldng the
whole road, if we adhere strictly to our pre-
sent policy, and the friends of the road on
the line will give us their aid, as the work
progresses, which they are SO able To 30. and
upon which we confidently rely The road
is, in fact. their road They will be benefit
tel by its construction largely in the increased
value of their real estate, and otherwise,
/, within the range of its influence, aadz hey
are expected to aid us in building it iifShe
course of-the summer we propose TO call
upon every citizen of the Valley for subscnp-
tons to the work, with full confidence that
they will act in the right spirit
LAND SUBSCRIPTIONS.
1t is proper that our land system should be
understood by the public We receive sub
: scriptons in lands lying within ten miles O
i the road; the subscriber is required TO convey
the lands in fee at their appraised value OF
oath, by a disinterested person, and receive
Il certificate of stock bearing six percent interes
( perannum, payable in stock until the road shall
c be completed, having the exclusive right q
purchase for SIX months, at cost, interest ant
c taxes payable one-fourth in hand, and tn
y balance in six equal annual payments, wit
J. interest After the expiration of the six month
: the lands are subject to be purchased upO
D. the same terms, by any other person. Thes
e lands are to be conveyed to trustee, to secur
y the payment of the bonds that are issued VI
Il on them, reserving the right of the Compan
,, to sell the lands, the proceeds Of which to l
u invested, with the assent of the trustee, in
Al fund to pay the bonds at maturity, 50 that tn
"a lands can be used only in the construction
a the road through the sale of the bonds 1t
Il proper To remark that our lands have lee
Is taken with great care rejecting large qual
G tity offered, including all swamp lands,
nc other lands above their cash value. Our lane
ri are now subject to entry at our Office at COS
CT interest and taxes, from $500 to $500, n
re eraging about 1854 per acre, AMI afford
'u fine opportunity to persons wishing to set
'f' in one of the best portions of Indiana, to o
ne tain great bargains at !ong time of paymer
II COAL DEPOSITS.
ne The DEPOSITS of coal on the line OF O
e. road may challenge comparison with al
en- other fields in the West The quality of Il
We coal, with the thickness of tho strata, and Il
Ell great facility and light cost with which Il
n Goals can be taken out and carried forwar
D. must give them decided advantages over al
nS other interior beds in the State. David Da
re Owen, late State GeolOgist, having made
'SS special examination of these coals, in his
port. saws "the Goals in this field may be dc
IN ignated rs of the first bituminOus charact
he like those of Derbyshire, Wigan and La
Ia caster, in England, and Lanarkshire, in Sc
eu land. Though the amount of carbon is II
IL as great as in many Of the eastern Goals.
nj completeness of combustion, for rlpidity
ess ignition, freedom from waste, and for p,irp
''e ses of rapid evaporation, they hod the fl
efs rank among both foreign and domestic Goa
OF They are well adapted to the production
CTS Illuminating gas, and some Of the beds allo
~ a coal that for heating power and freedo
ne from impurty, surpasses the Splintand Ca
ire mel Goals of Scotland Mr.. Lawrence, 4 d
ne tinguished geologist, fully concurs with \
- Owen. lie says, at is of excellent qualii
III resembles in appearance and burns like Ca
esS mel coal" DR.. Ryland Brown examined Il
10 coal while this report was being prepared, a
ar ar he sustains Mr.. Owen apd Mr.. Lawrence
We the high character they have given to it.
:. places it as quite equal to the best of t
IL Hawsville and Cannelton Goals. The gleat il
M portance of these Goals to Central and Mort
hd ern Indiana, rs we'll as to our road, makes
Ire proper. to state that we find the extensi
lg' PatOka beds on the line in strata from Gig
ny to twelve feetthickof pure coal, of easy acce
The demand for such coal at cheap raj
must equal very large supply, As Centr
Northern and Eastern Indiana, are entire
es, destitute of the article At the charges
nst the Reading Railroad, we can convey the
a Goals from the beds 50 that they can be :
IN fOrded to the consumers at indianapolis at
he cents, at Evansville 8 cents per bushel, and
he proportion at intermediate and more dista
lrs points.