St. Charles Republican intelligencer. (St. Charles [Charles City], Iowa) 1856-1857, 1857-07-30
From the North Iowa Times. 4.
McGregor, St. Peters & Missouri River
RAILROAD COMPANY.


ceedings of the company at its late
meeting at this place, July sth, 9th,
and 10th, 1851:
On motion, j. Brown was directed
to obtain the right of way for certain
portion of the Road, beginning at the
ievee at McGregor.
The Engineer submitted report
which was received and placed on
file.
Col Walker Of Milwaukee offered a
Resolution, authorizing the construc-
ton of the first % miles so soon as
means can be provided for the same.
Messrs. Walker, Clinton and Mack
were appointed committee to mature
and report land scheme to the Board
on tomorrow morning.
July 9th, 10 o'clock.
BOARD met. The Committee sub
mitted report of which the following
is the substance. The report was
discussed, considered and adopted.
Let the books of the company be
opened at McGregor for the subscrip-
ton of stock for the construction OF
Road from McGregor to some point
on the Missouri River.
The committee suggest that said
Road will pass through the most III
viting portion of Iowa, and that on the
Western end of the large amounts
of excellent lands are still in~she hands
of the General Government, and can
ba ,,,roho cod at low rates
ARTICLE l. The committee propose:
That one half of all the stock subscrib-
ed and paid in be invested in Gov
ernment lands and in such other low
priced farming lands as may be Sc
lected by the Agents Of the Company,
subject at all to be located along the
line of the contemplated Road or as
near to it as practicable, and all to be
of the first quality Of farming lands.
ART. 2. Let the other half OF said
stock so paid in be expended in the
construction of said road.
ART. 3. Let the lands so purchased
be held by the Go. and be brought into
market from time to time for the ben
eft Of the stockholders and sold under
! the d;,cctio1 u saii Sd ia = :, ~. x. -
Art. 4. Let the lands when brought
into market first be appraised by three
appraisers who shall be annually elect
ed by the stockholders of said com
pany. which appraisal shall determine
the minimum price Of said lands to
separate tracts or portions. After such
appraisal the said lands or such por-
tions thereof as the board shall deem
proper, shall first be offered at public
sale (at price not less than the APP
praised value) due notice OF which
shall be given. After the lands have
been offered at public sale, let what
remains be offered at private sale at
the appraised value.
ART. 5. Every stockholder owning
more than one share of stock shall have
the privilege of surrendering one hall
the amount of his stock to the compa
nv at any time after the appraisal 0
the company's lands, and when tn.
lands are offered for sale said subscrl
Der shall have the privilege OF pur
chasing said lands and paying for tn
same in the stocks SO surrendered a
mar value, and from the unsold portiol
Of said lands that have been offered a
nublic sale the said subscriber shal
have the privilege of selecting and pay
ino. for the same in the same manne
as at public sale.
ART. 6. All monies received by tn
company from the sales Of lands sha
be divided among the stockhoidel
pro-rata, on the surrender OF hk
amount of stock to the company 3
such stockholder, or the company WI
permit the said stockholder to recei'
for any dividend due him dlvider
certificate therefor as the individu;
shall elect. 90
The above plan will, it is contiden
" believed, be the most liberal TO u
stockholders (and by judiclous ma
acement) will enable them to quadr
ple their original stock in an incret
bly, short space Of time.
The rapid advance Of real estate
present is incredible and how mu
larger must be the ratio when II
Of Railroad will render the inter-
easier Of access than were the nv
towns few years since. The apo
system has the sanction Of our best
nanciers, and the company have I
this basis) promises from hea
Eastern Capitalists Of their assistan
in pushing along the work.
On motion, j. Thompson, E.
Clinton, j. F. Mack, A. McGregor a
l. Bigelow, were appointed an Exc
tive Committee to transact such br
ness as require attention between
. meetings of the Board.
July 10, 1857
Messrs. Brown and Mack were
- pointed to prepare new books to
The respond with the land feature adop
lid, at this meeting of the Board. All $
ant scriptions heretofore made may
on transferred to the new books at the
ost quest OF the snOscripers'
al J.. Mack was appointed the ST
nav and Real Estate Agent OF the compa
,er- The Secretary and Engineers W
inc requested to prepare and have prln
of the annual report Of the company,
is inc all the statistics, data &c,
,est usually found in such reports.
ises L. d. Clinton moved: That, VIII
Q of as this Board regards it OF vital
i is portance to the interests OF the \
and that the best possible line West
they McGregor be selected. Therefore;
,e Of Resolved, That the Engineers b
the structed to examine with minutel
aeht the projected Northern, Central,
4 of Southern routes to some common 2
roll. West and report on the same tc
,nge Board at as early a day as conven
TO- The proposition Of Mcdonald y
well. ham having been declined, the ;
little tary and Engineers were instruct
give public notice Of the letting 0