The weekly Ottumwa courier. [volume] (Ottumwa, Iowa) 1857-1872, 1857-02-12
MOI
THE DEMOrNE IMPROvEMENT.

We quote from the Daily Gate City, tho
following Synopsis Of the Report Of the
Committees appointed by the Legislature TO
investigate the affairs of the improvement The
Bill passed, in relation to it. Ir is all we
have received up to this time.
The following important points were made
by the report of the Committee:
There never was any legal contract on the
part OF the Company, for the reason that Gov.
Hampstead did not approve the contract made
by the Commissioners, which was an essential
requisite of the contract by the statute. Eve
ry subsequent modification Of the original con-
tract also lacks some essential requisites of
validity.
The Company have violated the contract
as made, and failed to comply with several
distinct provisions of the Statues Of Iowa.
Third, there had been gigantic system Of
fraud perpetrated by the Des Moines River
Company.
Certificates of stock in said company
amounting to more than million of dollars
have been issued while but one hundred and
sixty-seven thousand dollars have been paid
in. No books have been kept by the Cornps-
nv as required by law. aud in consequences
Of their fraudulent and illegal proceedings
the Company has forfeited IFS charter and I,
members there have rendered themselves
Individually liable.
The Company has expended for work on the
Improve ment about $lS6,000 and for travelling
expenses. liquor bills, and such like extras.
$104 600. Certificates have been issu.d1T
them for 205 ,000 acres of land. These cerF
icates dono. pass the title to the lard, but ONLY
create an equitable claim.
The Committe submitted bill with their
report, for which substitute was proposed.
After considerable discussion bill was final
" passed which, although not entirely sati.-
factory to the special friends of the Improve
ment, was certainly as favorable as they bad
any rightto expect after the revelations made
by the Committee of Investigation.
The Bill provides:
Section LIST. That Commissioner shall be
appointed by the Governor. who, in coniunc-
ton with the present Commissioner, is au-
thorized to make a contract for the speedy
prosecution of the work, and 10 ascertain and
pay all Indebtedness to parties for money adj.
vanced on work done, or materials furnished
heretofore. In case of disagreement between
the Commissioners the Attorney General is
to act,as umpire or assistant commissioner:
and no contract or settlement to be valid till
approved BY the Governor.
Section 2. The Commissioners are author
lied to sell or mortgage the land Of the I'm
provemeut grant, together with the Improve
ment itself, to constitute basis for the To-
sue OF bonds to be applied to liquidate any in
debiedness, aud in payment Of the prosecution
Of the work.
Section g. Specifically authorizes Com
missloners to sell all the land and lease wsA4ss
ter power to any parties who will secure n
entire completion Of the Improvement.
Section Requires that all bonds Issued 1
as above. shall be signed bv the Governor. 4
counter signed by the Commissioners and rer-
istered with the Auditor Of State. and shsll
contain the conditions that the grant -ai
Improvement are alone hcund and that
State IS In no way responsible for Their
demption. In case any contract il made H.
lands shall be faithfully applied TO .aia par
pose at their actual value. either by beiny
sold as provided in this act or being accept
ed BY contract or at fair valuation.
Section 5. Provides for the appraiseme,.
and said of lands should contract be made
requiring it
Section Fixes salary Of Commissioner
at 81 200
Section I. Aholishes Office If Register OF
Improvement. and devolves the duties on Re-
lister OF State Land Office.
Sec ion 8. Requires Commissioners 10 se.-
lie with former commissioners and agents az
the Improvement, and to transfer and keep all
vouchers. hooks. &c To his Office.
Section Q. Makes il the dniv az Commits
sioner to reI>,It progress of work and his
transactions in relation thereto N. CIV
ernor sem-anually, who shall report to the
Legislature.
Section 10. Provides that the law shall
take effect when Published in the Iowa CITY
papers.