The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1857-03-18

ss, &c, will probably make the entire cost of
the first section to the contractors between
100000 and S95O,OOO. for which they will
receive under the contract, bonds of various
kinds to the amornt of thirteen hundred and
seventy-fve thousand, which at o present high
market value could not be estimated at over
90 cents on the dollar, and would net them
eight hundred and ninetv-three thousand, sew
en- hundred and fifty dollars. If the bonds
for the benefit of the f. &, G. road yielded on
ly about 20 ctsOn the dollar in, lS5; lsixty five
cents ought not to be deemed too low an es-
innate for the bonds of the Straight Line rail-
road in 1857, when the bonds of the State of
Missouri issued to her railroads, and endorsed
by them are selling for 20 cents. 1t will be
apparent to you, that the only chance then for
the contractors to remunerate themselves and
make any profit on their undertaking, is in
the future value Of the stock, or in holding
on to portion of the bonds till they shall
by the success Of the road, be made more val.
liable and brought up to something near par.
| In this plain, truthful statement, the extraya-
CANT profits found by Mr.. Ingle in the con-
tract, vanish
There has been paid over to me by Mr.
Smith, President Of the Company, under the
direction Of the Board of Directors, COR the use
of thecontractors, three hundred and thirty
seyea' thousand OF real estate bonds of the
denomination of three hundred dollars-and
one thousand dollars, predicated upon $4,000
acres of land; also one hundred and twenty
five thousand dollars of Evansville and La
masco city bonds, to aid US in our negotia-
tons; for al, Of which we have given our OBJ
legations, to return to the company all that
We shall not be entitled to under the contract
The first mortgage bonds on the road amount
ing to six hundred and sixty-four thousand
dollars, are now in bank, under the control o
Mr.. Smith, President Of the Company, and
are not to be used. till they can be negotiated
on lair terms for the purchase of iron and
rolling stock. The whole amount of the
bonds of the road that the contractors have
received is, therefore, four hundred and sixty
two thousand dollars, large portion OF which
though used to facilitate our negotiations. are
yet under the control Of the contractors who
are outstanding them, under the conviction
that o change IN the stock market or a cessa
ton of the war upon the credit of the road by
its enemies, and the completion Of the frs
division, will raise the market value of the
: bonds, and enable the contractors to save
themselves from loss, and give them the mean.
to prosecute the other divisions Of the road
with yigor.
Mr.. lngle with his reckless elrontery, with.
out one particle of evidence to warrant the
allegation, and with nothing but his suspicion:
ana malicious disposition to suggest such ar
iinputation, charges that we have monopolz
ed all the securities Of the company and USED
them, and have contributed nothing lrpm oul
own funds to prosecute work upon the road
and by inuendo, insinuates that the assets. o
the road. are in danger. of being embezzled
to all of which falsehoods and SANDERS tn,
above statements will be, | trust. sufficient
re:utation. Tomorrow l will speak of tn,
future prospects eli the road, and the impera
tive inducements we have to push it through
to Indianapolis with our whole strength anc
energy.
Your fellow citizen,
WILLARD CARPENTER,