The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-11-09

Notes issued, decrease ssss, 29o bullion Ia both DO.
paytments fsSeoAs2 decrease, s7e ss6 rest increase
posits increase, fSs2 $685. days and other bls
increase &2s on the credit side government securi
ties show cos q S;nss $
$50; actual circulation, CT, l67, 40.
The blunder of the Liverpool Times, in reporting
an increase in the bullion department of 81 GAL Oo0
when there was in the same time an actual decrease
Of f379bs5, Is not the first of the kind made by
that journal, and the public not much deceived
by it. The report or the contradiction had no par
ticular effect on the market.
The Chicago Press Of Oct. IA gives the following
history of the rise, progress and completion of the
illinois Central Railroad Company
In announcing the completion of the Illinois Central
Railroad on the FIRST OF the current month, inmaon
made that should take early aston to give
brief history Of the progress Of this enterprise from its
commencement to completion. We now proceed fdli
that PROMISE incidentally abiding to the progress Of
other roads, and awarding to 1 builder COL Mason that
measure Of credit he has SO hororably earned
The grant Of lands was made by Congress September
20, 1850, and the charter incorporating the company
passed the Illinois Legislature the following February,
and was approved by the Governor the 10th of that
month. The first annual meeting OF the company was
Robert schuyler made President, Morris Ketcoun
Treasurer, and r. B. Mason Chief Engineer Col Mason
arrived In Chicago In May 1851 70 begin the work. ana
from that day to The his resignation which
place the first Of the current month his abors have
been ndeahgable, his success wonderful, ana me-
achievements without parallel In the annals OF railroad
engineering.
Under ordinary circumstances, five six years in the
growth deveopement of State city prod uces no very
extraordinary changes but such has rot been the
with Ilnos Chicago In 1851, the population OF the
State was not ar S5 Oo0 and of this city about 81
600 The railroads In operation were-a2 miles Of the
Galena md Chicago Unon II Of the Aurora Extension
and 40 of the Great Western Thu total Of 90 miles was
ie v were CO. in 1866 and
1861 and the receipts OF lumber by lake were 100 600
faa In and in AQKi 10 Rad
TO keep these facts in remembrance we proceed with
the hatory Of the construction OF the road.
the 2lst Of May 1851 and commenced preliminary
veys Of the Chicago Branch, making Chicago point OF
ties had been organized and In the field, viz o.
Freeport La Sale Bloomington, Decatur, Cairo and Ur-
banna and the whole line was surveyed and oced pre-
vious to December 3lst 1851 The work OF construction
was commenced at Cairo and La Sale about Christmas Of
The eame year.
On the list OF December 1851 tho Gaena und Chicago
Onion Railroad was extended from Elgn to Bevidere,
thirty eight mileshis portion Of that line being the nrst
heavy rail LAID in Illinois, the first step in the right
direction In railroad Improvement In the West
COL Mason spent portion OF the winter OF 1852 IN
Washington engaged with Nj Neal in selecting the lands
In February 1852 the Michigan Southern Railroad cars
reached Chicago making the first railroad connection
With the East and the event was duly celebrated by
The st contract for grading the Illinois Central
arspoS between CHICAGO and Calumet and Covered dis
lance OF fourteen miles. II was hurried along for toe
purpose Of allowing the Michigan Central Railroad TO en-
the city, and completed tho Gath OF Nay fol-
lowing, and railroad communication opened between
ch:sgo and Detroit
Pubic contracts were first made in June, 1882, and
the grading OF the ls I'd 9TH Sh 9th and 10th divisions
let and the l4th OF October following the 3D. 4h, 6h
7h, 18th and l2,h divisions put under contract
After long contest With the city OF Chicago, finally
the 18th Of June 1852 the City Council passed ordi
permitting the illinois Central 70 enter the city an
ocate its line along the shore OF Lake Michigan In July
he first nsameL of the first Euglish OF S. 900 900
paid, and 1t was not until this payment had been
made that the orgnsors Of the enterprise had confidence
During the summer and fall Of 1862 the railroad system
Of Chicago was consds raoly enlarged. August ID the
Gah M and Chicago union was extended TO Rockford,
oinety two miles from Chicago On the Sh Of O;tobcr
the Chicago, Alton and ST. Louis open from Anon TO
Sprr gfed seventy two miles, and on the 18th the Chi
csgo and Rock Island road o,ened fr Chicago
10 let, forty miles, thence It was extended to Morris,
twenty miles further January bth 1893 and TO Peru
thirty nine miles more the 2lst OF March oil the same
| year.
~ the road and continued discharge tho duties Of thai
office, in addition TO those OF tie chief eDgneership
until the appointment Of Mr.. Done in December, 1855
On the loth Of May 1853 the first sixty miles OF the iii
nois Central, from IaSAIe 70 blooming on, opened
for business and the company commenced working the
During the time Ooi Mason has been engaged in tai,
work, single handed a. wcrc chief engineer Of the
Ilno Genital, Schuyler, Burial, Grswod and Osborn
have after the other held the Presidency; Ketchum
Burial, Edgar and Perkins the treasuryshp; Aoisen,
Bunce Alderman have been Secretaries; while Neal.
Dupuy and Wilson have had charge OF the land depart
mcnt and wyman, Van NortSck Coms,ock, Done,
Clarke Watson have acted greater or lengths
Of time supernendents Of the road and the railroad
system Of Illinois has expanded from IS miles OF strap
rail, May, 1851, TO 2, 400 In October, 1885.
Nes ntime Chicago has increased its population from
GOO TO and the State Of Illinois from 0c0 10
bo $50 The export grain trade OF Chicago hes yelled
steadily. year by until equalled 900 bush
els last year and promises 70 reach geo bushels
| n 1850 The import trade In lumber has Increased In
corresponding iato and equal 70 $40 COO 600 feet In
ists and gives every Indication Of touching 600
In this brci statement Of events we om, giving an %
OF the natural obstacles presented In country
paratvely new 10 the construction Of line made ri
light angles N be movement OF trade and emxra.ion
ue Will aiiude only 70 the vindictve opposition Of
| eaous towns and belserent cities 70 the location
the hood and fevers Of the rst two years,
The cholera OF the third the cholera panic
combscd OF the fourth but leave these matters
| minute and longer history Of the road.
the financial aud railroad world sufficiently high and dis.
ngusbed 10 confirm the sagacy of ths most sangane
~ original prof. ctors, and 10 Justify the assertion that
70 1.-THE most splendid enterprise Of modern times
This road may be said 10 have solved tho problem OF
successful and profitable cultivation Of the entire prai.
rcs OF the STATE and the solution 10 threaten
revelation IN agriculture almost equal 70 that OF cotton
manufacturing by the introduction OF machin Try and
steam power. Az consequence, the Illinois Central
Railroad cumuaiipg 10 magnitude beyond all expec.
taiiop. It's interests and business, promising take
breadth vastness that will outsup oil calculation and
override all Management and the Enterprise embarrass
rather by excessive vitality than any want OF A. nsures
the cult vaton OF every acre OF the paes IN the free
states, and renders this problem worth considering
whether since such double miracle has been wrought
on the prairies Of Illinois By railroads, similar
KIND, though not In dee Notwithstanding local
iares, may MOI be wrought the magnificent prAricI
and mineral lands OF the southwest
| Stock Exchange.