The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1857-08-25
fcorycx pondsnce of the Gate CITY I


AsroR HousE, New York, Aug. Is, ~.
The report in the street to-day, put in cir
culation by the Des Moines Navigation r.
r. Co., is, that the recent decision Of the Su-
preme Court of Iowa at its special session
held at Burlington two weeks since, is wholly
favorable to the Company, and gave them
oil they desired. OF the truth Of this state
ment, am ignorant, as ! have not had an
opportunity Of seeing the decision rendered
by the court. This is not so important to
the interest Of the citizens Of Iowa as other
portions Of the report Of said Company in
connection with the above, that is, now that
they are sustained by the courts, and have
removed every obstacle, they intend to push
forward the work to completion with unre-
uniting energy. We're this truly so, itwould
be cheering news to the people of the Des
Moines Valley. But from past experience
and the antecedents Of the Directory Of this
Company, no sane person can hope to see so
desirable an end realized. There may be
persons sanguine enough to expect to see the
frution Of the fair promises put forth BY
this Directory. l am confident that they
are doomed to disappointment. The longer
they wait the greater viii be their conviction
that they have been duped by an nnscrupu-
lous set Of stock jobbers.
There are, doubtless, at this moment,
thousands anxiously watching for some
movement in this great Improvement, with
the hope of seeing something tangible 40.
complished towards its completion, that will
enure to the benefit Of the state and her citi-
zens, for the prodigal bestowal Of the valua-
BILE domain that has been so unwittingly
turned over to the great map of the Directo-
ry Of the d. N. 4 r. Il. Co.
am fearful that they will look in vain.
What can be expected at the hands of the
men that control the Directory of this Com.
pany2 They are the same brothsriy family
who have held the control of the Michigan
Southern and Northern Indiana Railroad,
and the Cleveland and Toledo Railroad
This Directory have resorted to all sorts OF
maneuvering unknown even in the palmy
days Of Schuylerism) to keep their financial
affairs in running order. In spite of every
effort now being made by them, they mus,
finally 60 under.
In about three years the stock of the NJ.
S. 4 n. l. X. R. has sunk from l4S down to
80 cents; at which low figure it closed yes
terday on the Stock Board. The stock of the
company has been fairly garotted, and the
stockholders robbed,--one may well say
with truth, hopelessly ruined. The fact Of
tho above depreciation shows most conclu-
sively that the public confidence in the man
agcment has been most shamefully abused.
There can be no one to blame for this err
roneous depreciation Of stock, but the man
ayers themselves. They have fnanceered
the very life out Of the whole stock, and
who has been benefited by the operation ?
1t needs no prophetic person to say. The
same process has been going on in regard te
the stock Of the Des Moincs Navigation and
r. r. Co., and by the same men. The same
system OF management has been going on in
both enterprises or companies. The same Sc,
OF ~ire-puiling fnanciers have been at the
head to direct, and the same ruinous result.
must follow.
learn that there 10 new movement or
foot BY this ID. N. L X. X. Co. to dispose oil
the lands belonging to the grant for the I'm.
provement, the details Of which have beer
unable to ascertain. The schemes OF the
Western Railroad land grants have proved
highly successful. The Directory of the d
N. d X. X. Co. are endeavoring to take ad
vantage Of the same to infuse new vitality
into their company by some great fnancia
scheme in regard to the disposition of the
valuable lands belonging to the grant fol-
the improvement of the Navigation of tn.
Des MONIES River. From such scheme the
citizens Of Iowa need not anticipate that any
beneficial results to the State or thems Ives
viii ever be realized. X.