The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1855-10-13

TO THE CITIZENS OF kEOKUK.
| accordance with resolution of the CITY Council
j hereby submit the folio wing statement of tn
obligations and liabilities Of the City in regard h
Railroad enterprises =
On the 18th day Of May, 1858, the question Of au
thorzlng the City Council to suscr be to the stock
the Mississippi 4 Wabash Railroad a sum not ex
eeedng Sl00 GOO was submitted 10 vote of the citi
aens OF this City and carried almost unanimously
the time 81 the opening Of he subscription
books Tor the Mississippi Wabash X. X. ut Warsaw
IA the month ot june, 1888. 6. ii. Perry, ESQ sub
scribedthe sum Of 5000 to the stock OF said road
TINS though taken IN the name Of Mr.. Perry Ii i,
understood is TO be paid by the City.
la ulle 1893 subscription Of 500 500 was mad,
% the stock of the NJ. Il " Il. r. Go. by the Mayor
Of the City, tacting under resolution Of thu Ciy
+. touneIi,l upon the following conditions. viz
9 Is. That the said Mississippi Il Wabash Rail.
road shaii b. located from Warsaw East FIR the dis
lance 81 miles, substantially The old Peoria and
! Warsaw railroad track, and al the most convenient
aud nearest POINT to the cityot keokuk in the State
! OF Iowa permanent depot shall be established and
maintained by the said Mississippi and Wabash Rail
road Company.
1 I'd. That the City Of kcokuk shall not be liable
= pay any portion u sad subscription to said stock
ba5 ond the five per cent? until the whole of said rad
sal be placed III good faith under contract o. that
the City Council Of the Giyoi klokuk shall b. rrA
sonafly assured that satisfactory arrang ale
made )secure tile completion # said Road. ,"
In order 10 arrIVe nj correct conclusion the
present legal and moral obligation If the City under
"a al T SAID subscription, Il may b. ssarv 10
stat thc present luaton Of the above Road ~ W. II
as TO give copy the Law II this State passed 1T
the last session Of tho Legislature.
A q meeting of tn Boarl Of Directors Of the NJ
" Il. K. hel AZ Chicago in June last to take into
c3nsid ration measures for the completion Of the
Western Division OF said road from Warsaw 10 ia IN
taraectioH with The Railroad running from Quincy to
1ale burg, an executive committee. consisting of j
W. inger-Ul, If anton. h.. Hunt If War
snw. and II. W Sample. If this city, wag appointed
Tins tom'nittea were duly authorized to nee The sub
scrptious eretoforc made 70 said road h CIV Of
keakuk, and the County of Hancock also 10 pledge
the faith If The Company the amount of 100 COO
and &" take such measures they may deem necessa
~ 10 insure toe completion # sud Western Division
81 the road
Theaetion Of the Directors in making the nppoirt
tncnt a II. W. sample - member Of the executive
Committee for the Cfyof keokuk was approved Av
the City Council ~ IL resolution passed June Ii
$50 sud ~ subsequent meeting 81 said Connect
June 2yfht tho following proceedings were tad xsY.
Il communication WIS received frotn III. ". -arf-
Pile. memhT ai the Executive Committee II thu
Mississippi ana " ahash railroad Company ana after
dei@t the following was adopted, VIZ
R@o.raa That the rrpresa ntatiye Of the CITY in
the Executive Committee If the Mississippi aud
" ahaeh r. X. Co. i, and IL hereby authorized fo
act 10 said Committee with the assurance that the
sahscF pion Of the city of heokuk, for IAo GOO dol
lars will be carried out good faith aud the Bonds
lsg1led may he required 10 had The Western Ds is
ION III SAID road.
In accordance with the above resolution the mem
her IT the Executive Committee from this city has
given assurance to the citizens If Hancock and Mc
bonougb ceunties that the said Bonds win be ssued
the city Couucil shall be satisfied that the
Western Division Of SAID road put shape H. IN
sure lis completion.
Tho following is Il copy Of the Law passed last nm
ter and referred 20 sboye.
'sSffiton /. he il anaetcd by the General Assembly
IF the stat a Iowa, That in all eases whore the
county. city or town interpretations haye. Or may
hereafter become Stockholders in Railroads Or other
ef.,4 rf,sp
lawful for he county ujges, Mayors other agents
~ such cities counties issue the bonds Of their
eitlt or counties uni they satisfied that the con
temp.afed improvements will be constructed through
50 sIr speeive eties counties within thirty
six months from the issuing and delivery Of said
bonds. ana the proceeds Of such bonds shall IL all
cases be expended within the limits Of the county
in which SAID city may be situated PcoridsG, that
nothing ia this act shall ia way affect corporation
rights for any contracts subscr ptions heretore
made within ans railroad company OF corporation
for the issuing Of county corporation bonds
On the 9Th dav o. January, 1891, the city Council
were authorized by the unan NOUS of the neo-
pie. subscribe stock the keoknk Fort Des moline.
and Minnesota Railroad company to the amount o {
30 a0e dollar also - subscribe additional sam
If 5e0g0 dollars a. the Mississippi and Wabash
Railroad Company The subscriptions authorized
above have never vet been made, but thu city adj
yneed in cash to the +. 1t, D. NJ. " K. Co. 20 the
sam 4 two thousand dollars 70 pay portion II the
cSpenccs If the survey.
AFitt@tloA was DeIa on VIC --u VI september As y,
ae result Of which was that thcety Council was au-
horized toloau lhe credit II the eity The heoluI
Nj. Pleasant and Muscatine Railroad Company to
the amount If one handrcd thousand dollars
Rcca pituiation.
Amount subscribed h5 {. II Perry TO tho
NAV R.R. 600
sub-eribel hy City If keokuk
To the II. 4 VI. *. T. $500
authorized t. b. subscribed IT,
tie VI. 4 ". i. r. 10000
authorized b. subscribed TO
the h. 1t. u. i N. r. L. Co zoo. COO
authorized % b. loaned 10 K. Mt.