Lewisburg chronicle. [volume] (Lewisburg, Pa.) 1850-1859, 1856-05-23
LEWISBURG, CENTER & sP. CIR.
RAIL ROAD CONVENTION.

called to order by Gen. Buchanan, with a
motion that Geo. Boal, Esq. be called to
the chair, which being agreed to, the follow
ing named gentlemen were appointed
Vice Presidents: Gen. Geo. Buchanan,
John Wilt, ESD, Geo. IOungman, Esq,
DR.. Piper, DR.. c. Coburn, VIM. Grove,
DR.. Wm. Wilson, Col. Nef, Col. James
Johnston, George Driesbach, John Barber,
DR.. Night, Geo. Huber. John Forster,
Henry Meyer and J. Merrill Linn. and
James ?. Coburn were appointed Sec
retaries. Geo. +. Miller, Esq, of Lewis
burg, was by motion called on for speech,
and in responding said that as the time
had now come for acting, no speeches
were needed, and he would only state a
few preliminary facts necessary to proceed
understandingly to business. The orisi-
nal act incorporating this Company was
passed in lsj3, and the time limited ex-
pired in 1856 There was a supplement
passed last winter giving three years furth-
er time and permission to issue Bonds
The subscription along the line now
amounts to between four and five hundred
thousand dollars and the question now is
whether there has been sufficient en-
couragement to warrant an organization.
In order to take out the charter. there
must be one tenth of the whole amount
subscribed and FIVE dollars on every share
paid in, which must be certified to the
Governor. The authorized capital Of the
Company is thirty Thousand shares or
$l,50O.0O0. One hundred and fifty thou
sand nust be subscribed and fifteen
thousand paid in. All preliminary matters
have now been done. A half million has
been subscribed along the line, and We
have power to sell our bonds tor five hun
dred thousand. A large amount, at least
FIVE hundred thousand, can be obtained
from capitalists, and there is no hesitation
in assuring and believing that it will pay
six per cent, and great probability of
nlgH duNdHCc over tliil. -No obc ouSAty
now, to object to a speedy organization.-
The great difficulty in obtaining subscrip-
tons is because people hardly believe that
the work will 90 on, and yet we cannot 60
on without subscription. We however
have enough TO warrant an organization,
and by it only can we make people believe
that We are in earnest. They all feel the
advantages which will accrue 10 them from
it-that it ought to be built, and if once
they had it, they would not part with it,
aud all that remains is to act. The first
next step is to organize. The Tyrone and
Lock Haven road was started and seemed
as if going to bear us down. They elected
a board of directors. One Of the roads
theirs or ours must fall through. We
kept working on steadily, with less parade
and fuss. They were left on the banks,
and we have come to such a stage as that
we need only act, and re seize the prize.
The question 20 be asked is not what
strangers from abroad are doing, bu: what
we are doing along the line. We join
YOU, capitalists say, when you have given
an earnest Of your sincerity. Shew US,
they say, that you believe the road is i'm
portant and will pay. 1t is important and
we can easily prove it. Western men ask
us only to get line that will carry them
from any point in the East to Pittsburg.-
They can get to any point in the West
from Pilisburg-it is the centre Of the
Western world. Any one by locking at
the map can see that our road is the only
link yet needed to carry travel and trade
from any point in the east to Pittsburg.-
The cost of our road as estimated by our
engineer is Sl,S8S, ,3l7,50, which is at
least quarter too high according to the
present prices of work. He estimates ex
cavation at % cents, which can surely be
done for l2l, rock at 60cts, masonry at
$3.50, which owing to convenience OF
materials can be done for third less.
Iron at seventy fivedollars per ton, which
can now be got for sixty. His estimate
was upon the basis of the cost of New
York road, at that time. Our road can
be built certainly for Sl,500,000, and if
one third of this be raised in money along
the line, we can assure you that the road
will be built. Not cent Of this shall be
spent unless it is fully ascertained that the
whole can be accomplished. But in order
to act we must become body politic.-
We must have head. The Legislature
has shown us all the favour it could-re-
newed our expired time, gave us three
wears more, let US make our own terms
about our money, and let US build 1t where
we please. If we do not make it now it
never will or can be made. Should we or
ganize again June, we may under proper
ARRANGEMENTS have the road under con.
tract before fall Every proposed route
along the line will be properly surveyed
Those who favor each locality should
make arrangements to lay representations
of the advantages of each, before the
board, and no doubt the route most
economical and advantageous tG all will be
adopted. Even supposing the road would
not pay per centase on stock, it will more
than pay land owners in the raised value
of the land. We feel confident the people
arc so much in earnest they will not let il