The north Iowa times. [volume] (M'Gregor [i.e. McGregor], Iowa) 1856-1857, 1857-07-24
TOT INS 4 a
THE RAIL ROAD,

have pcrusod the resolutions and articles of
the land bill adoi ted by the McGregor, St.
Peters and Missouri River Rail Road Co. for
the urTose Of more speedy construction of
their road. The novelty of the thing struck me
Iecrliarly, and reflects great skill and foresight
Oh tie art of the committee appointed to draft
it. In fact it is ly far the most liberal policy
ever pursue by any Rail Read Co. towards lis
stockholders, and must secure to themselves u
large cash capt. ii. " hich they could not other
wise obtain at present, unless by sacrificing
largely on their bends and farm mortgages.
If understand the system. it is this Each
individual who subsc-ib"s two shares of stock,
becomes an equally interested PARTNER in two
enterprises, one of which is to build line Of
road through the lands which he has purchased,
with the capital invested in the other. Thus.
lie not only benefits his speculative interest,
but at the same time. Should he own farm or
lands along the line he increases tic value of
his farm in Troportionate ratio. The skcptic
may say, why not al jure the Rail Road en-
tircly and invest all of our funds in lands and
let some one else build the Road" To this
question the answer is direct Under the pres
ent strngency of monetary affairs it is utt"rly
impossible TO raise capital to build the Road
Tie present Panic in Wall Street in regard to
Vest IN securities is sufficient to deter the most
sNnsu'ne from entering TIE arena with a now
project 80 that "some one else could not build
the Road and tie sagaciors ones could be re-
minded of the fable of the goose that laid the
Golden egg Had they invested enc half in
the projected Road, their lands would have in
creased in value ten fold; they might enjoy all
the benefits of direct and speedy communica-
tion with the Eastern MAJ ets and hold no in
considerable portion of stock in road which
can't but be good aging one. These same
arguments APP ly with equal force to capitalists
and must tisfy them Tat it will be safe invest
mcnt. The article directing the sale of the
land publicly, is good one. This gives every
one an equal chance in the distribution, and
will entirely remove the sus] icions of all rs to
the fairness of all sales. The proceeds of all
lands are to be deposited for the benefit of the
Stockholders. and tie Directors are ordered TO
divide the same among the stockholders pro.
rata.
The basis adopted, was carefully remodeled
from the one on which the Berlin d Horizon
R. r. is being built. That Road is now being
pushed forward with the greatest vigor, while
other Western Roads, thorgh enjoying the gift
Of valuable tracts Of land, are languishing fof
want of material aid
The policy has been led and Las stood the
test through the present crisis, and enjoys the
confidence Of tie whole county. The liboral
policy of the McGrecor Co. is t:uly commend
able. and tr"st will be duly appreciated by the
people of Northern Iowa. They must show
that though denied equal privileges with Other
portions of the State in the distribution of ub.
lie lands they are able and willing to ask 70,
themselves Make but an effort and they will
not be required to prosecute it unaidcd. Eas
tern capitalists ere waiting to sec if the rcopl,
want road and if they have any confidence in
it, and when assured of that fact they will come
| to the rescre. Let no rival jealorsics imrede
the work. but subscribe literally and you ma,
| lie assured that your sui scriptions will he ex'
pcnded on the most practicable and feasible line
| be it North, South or Central. F.