New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1856-10-24
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Ar ears 20 De DO change n prces of goods either
| homemade or impaired. Saayls have sold the most
| freely Of any goods but fine Xerno Cloths and De
Lame. have been in good demand ST the full prices Of
| special request.
The following IS our weekly report Of failures H.
; g Rrf,s Portland Ne .u.pepded
John Par.bley Nev Haven Conn. assigned
EkA InsrsAAm Brs'ol Conn ,1'reuied
Watson Carte. c.. NewY YORK CIV .a.Psuted
PIT. HARDEN sursh NewYork City assigned 20 George w
SUDAN Reed Co Se~.Yor. CRY Proiuce Comm mission
.up'nsd An old snd hahly respectable hou'e WI De able
e,s .a.pea'i9H + !. p5 r II 10 ~ ,4.e' r The
Hc. Ind ycsYo ~. Cir ~ ':Rea ..,5.s
II. Todd Nrw-Yors City; suspended
IL IL f.' H. o.tyfiH Psii, Gelo sles
Rice Wilcox Mta,u. Ohio; suspended and. II 3 said
have assigned 20 T {. Bradley.
Barton ". Gray Charleston, lid assigned;
Pa.ri-I M.f.s Flint. Mch. f.iled
c B Hu.-ed Rsoiue Wis. suspended
Ward Bryan a Co. Cedar Rapids. Iowa assigned
The Banks have not. ana are not now, using the
whole of their receipts in loans and discounts lnelr
contraction has not had any serious effect on the mar
ket which has been amply supplied nom OUTSIDE
source The rates OF discount are without change
al ongdated paper continues 10 be OF ready negoIla
ton al To 10 T. cent? being the rate Tor prime IN
dorsed arc 10 Tor prime unndorsed SIX months paper
Second class paper il bought and sold at III 10 ~
cent. according To- date. favorte names OF short
dated indorse paper are taken At 10 81 cent out
these are very scarce. Call loans are easy at cent
From The Chicago Democratic P'ess we copy the
following succinct of the origin. progress I'd
completion Of the Illinois Central Railroad, which has
been called the most splendid enterprise of modern
times" II will be seen that the first contract on this
road was made in March 1852, since which time about
four years and half this Company have built and put
in oueration seven hundred mile. OF road. feat in
rairoadg never equaled. The value Of this road 10
Illinois can scarcely BE- calculated and viewed. merely
as a speculation by those who invested money in it,
il promises 10 be OF the most profitable Railroad
enterprises entered upon. The most sangune OF
its friends not only anticipate that the sales OF land
will reimburse all the instanents upon the stock after
paving in full all the bonds but that there will be still
resduum Of lands equal to dividend Of so e cent on
the stock The less saneuine believe that the road
vii eventually be owned by the stockholders without
cost ard without dollar OF debt upon it. The article
of The Press il as follows:
THE ILLINOIS CENTRAL RAILROAD.
History OF IT'S CoSsrRUCTIoS.-A RECORD WITH
OFT P.R.LLEL.-ln announcing the completion OF
The Illinois Central Railroad the LIST OF the current
month. an ntimation was made that We should take an
early occasion give brief history Of the progress Of
this enterprise from its commencement 10 completion.
We proceed 10 fulfill that promise incidentally al
uding TO the progress Of other roads and awarding to
s builder Col Macon that measure of credit be has 40
hoDorably earned.
The grant of lands was made by Congress Sept 20
1850 and the charter incorporating the company
passed the Illinois Legislature the following February.
ard approved by the Governor on the 10th of that
month Tie first sDnua meeting If the company was
held on the third Wednesday OF March, ISL at which
Robert schuyler was made President, Morris ketchum
Treasurer, and X. b. Mason Chief Engineer. Col.
Mason arrived in Chicago in May. 1851 to begin the
work and from that day to the hour of his resignation,
which took place on the fret of the current month, his
sbors have been ndeiatigable bis wonderful.
and bis achievements without parallel IN the annals
of railroad engineering.
Under ordinary circumstances five or Fix wears in
the grow tn or development of State or city produces
DO very extraordinary changes but such has not been
the with Illinois or Chicago II ls1 the populi-
tiou Of the State was not far from N5OW and OF this
CITY about 81 600 The railroads in operation were |
& miles of the Gaena and Chicago Union II miles of
the Aurora Extension, and - Of the Great Western
This total Of ~ miles was laid with strap rail The
Grain exports Of Chicago by lake were 1000 900
bushels in 1850 and $50 900 in 1851 and the receipts
Of lumber by lake 100. 900 feet in 1880 and
$4,000 600 in 1851. Asking tho reader to keep these
facts in remembrance we proceed with the history OF
the construction Of the road
The first engineering party organized in Chicago
the 2lst day OF May, 1851, and commenced prelim
nary SURVEYS OF the Chicago Branch making Chicago
point of departure, and, by the middle of summer
seven other parties had been organized and we're in
The field viz: at kreepor La Sale, Bloomington.
Decatur Ndllo, ana lIDhhdi ana tnt "noie Ine was
surveyed and located previous to December 81, 1851
The work of construction commenced at Cairo and
La Sale about Christmas of the same year
On the LIST of December, 1871, the Galena and Chi
cago Union Railroad was extended from Elgin % Bel
videre thrtyeigh milesths portion of that line be-
inc the st heavy rail laid in Illinois and the first step
in the right direction in railroad improy ement in the
West.
CG Mason spent a portion Of the Winter Of 1852 in
Washington engaged with Mr.. Neal in selecting the
lands donated by the charter
In February 1872 the Michigan Southern Railroad |
can reached hicago making the frs railroad coDnec
ton with the East, and the event was duly celebrated
BY guns. dinners and speeches.
The FIST contract for grading the Illinois Ceptratwas
ade On the 18th If March, lS2 for that portion of
the branch between Chicago and Calumet and cred
distance # fourteen miles II hirried along for
the purpose of allowing the Michigan Central Railroad
10 enter the city, and was completed on the 18th OF
MAY following and railroad communication opened |
between Chicago and Detroit
Public contracts were frst made in June. 1872, and
grading of the st ID 9TH sth 9th and 10th divisions
let ard on the l4th of October following the Sd, 9Th
9Th 9TH, 18th and 18th divisions we're put under con-
tract. 1900
Alter long contest with the City of Chicago finally
on the iih Of June 1852 the City Council passed
ordinance permitting the Illinois Central 10 enter the
city and locate its line along the shore OF Lake Mich
gsn In July The first installmen of the hrs English
loan of 81 eco 600 paid ard was not until this
payment had been made that the orEna,Ors OF the en-
ierl rise had cor idence in IT. success.
During the Summer and Fall OF 1872 the railroad
- stem OF Chicago considerably enlarged August
; tie Gal.na and Chicago Union was extended 70
Rockford ninttytwO miles IRON Chicago. On the ots
of October the Chicago. Alton and 81. Louis was
on.ued from Alton to Springfield scventy-two nj a.,
aid ON The llh the Chicago and Rock Island road was
men "a rom Chicago 10 Joliet forty miles thence 1t
was extended Ia Morris, twenty.one miles further,
January D. ls3 and t. Peru, thir! -alne miles more,
he Il i of March Of the same year.
In March 1883 Col. Macon WAS elected >upertn'sid
a,t II the road and continued o. dscturge the duties
.ff he En- |