The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1857-03-12
For the Journal.1

l. d C. S. L. Railroad Company.
This unequivocal abandonment Of the orig.
nal great enterprise, and substitution of .
limsy shadow, for the solid substance, you
'ir, will have the boldness to tell us, was
! necessary remedial policy, because your
stock subscription did not enable you to fol-
ow out your original policy. Of treating the
'oad as unit, and preparing the whole line
or the iron at the same time and then mort
,aging the whole grade for the rails. And
his, in the face Of your original estimates, !
hat $4,000 stock would grub, grade and
bridge the $50 miles and Of the fact that when |
you abandoned your original policy, you had
secnred total subscription of Sl,O5o,OOO, and
protested yourself satisfied with your success.
This remedy. Sir, if you offer this as q
remedy for that state Of things as malady. l
pronounce your malady within, and your
remedy poison. "This you have told us
was for the purpose Of making the road profit
able to the stockholders as soon as possible"
IL willard, Carpenter & Co.," are to be con-
sidsred as the stockholders, and certainly they
appear to be SO at this date, you may not have
been very far wrong. aFl
Who will now believe you when you say
that you intend, or expect or can hope to
build this road one foot beyond the o &; NJ. X
K. Although, you may be making ever so
specious feint of doing so. If you do intend
under this remedial policy togo on, will you
do me, and all the stockholders the favor
to answer me one question, to wit If it has
required Carpenter & Co.. three years nnder
this contract to only partially prepare the first
and easy division for the rails with subscrip-
ton of S1,0G0,OOO to draw upon, how long
will 1t require them under the same contract
to entirely finish the remaining two more ex-
pensive divisions with no stock subscriptions
at all to rely upon When you have given
satisfactory answer to that question, for
one, shall be prepared to hear a statement of
your future plans for going on with the enter
prise. Don't forget as you answer me, that
Carpenter & Co, not bound to proceed
foot beyond the crossing till the additional real
estate subscriptions named in that contract
shall be obtained.
Sir the evidence Of abandonment, is complete,
is perfect, and that being the case no stock
subscriber is bound to pay his stock. The
contract on your part is violated, and on his
part not worth the paper on which it is writ
ten. That sir is one Of the effects Of the pos-
on which you say is remedy. | say it fear
lessly, that there is but one purpose for which
you can collect your subscriptions. and that
purpose is, to prepare ready for the rails a
road to Indianapolis. substantially Of the
character for which those subscriptions were
made.
This was the contract between you and u.s.
a contract which you without our consent
cannot change. 1t was true when you de-
clared it, and it yet remains true that western
-, IL, Al.
are not.expected to do more. And it is equally
clear that if we mis- appropriate our stock sub
scription to any other purpose, We shall not
be able to build this road.
say sir, that you can build the whole road
under your original policy, but that it cannot
be built under your new policy. That your
mortgage bonds on the whole road graded,
and bridsed, or approaching that state, will
be good bonds and will command fair value
in the bond market, but that the same bonds
on one third of the road without an immed-
ate certainty of the completion of the whole
line will not pass the ordeal Of the bond mar
ket for the reason that they afford to men who
are conversant with railroad history. no assu-
rance Insolvency, whatever. You cannot hon
esttly answer the questions to be asked by
brokers or agents in that market.
The way business Of short road through
n farming country pretty well settled, is al
most nothing. For through business, this
Division completes with both the w. & L. Ca
nal, close to it, and the T.. &; c. X. r. to Vim
cennes, not, | believe, twenty-five miles
apart, at the o. & NJ X. Il and starting from
one point, at Evansville. The +. & G. Il. r.,
with engines and cars, and all other expenses,
including discounts, stock interest, &c has
cost less than SIS, 100 mile, (see its last
Report) or for the 81 miles to Vincennes,
S973,3U The contract price to be paid
Carpenter &c Co., without any stock interest,
or several other heavy items of expense pre-
viously enumerated, on your road Of SO
miles is Sl,7l0,0O0, and no locomotives or
cars, machinery to repair them included;
leaving you humble dependent on the Ohio
and Mississippi Il. H., which will take care Of
its own, whatever becomes of you. The Gin
cinnati passengers leaving Evansville by eth
er road, will take the same Ohio and Mssis-
sppi through train for Cincinnati; or if a
way train shall ever be run, it will be run
from Vincsnncs East and not from Chelsea
or Washington. All passengers leaving Ev-
ansvlls for the West, will take the L. & G.
X. r., and as for those going East, l need not
tell you that the L. & c. L. r., costing about
half the price of your branch road, and hav-
ing through business to Terre Haute and
beyond, which will require her trains to be
run whether there are, or not Cincinnati pas
sensers, can carry all Cincinnati passengers
so much cheaper than your branch road can,
that the additional distance to Cincinnati OF
only about 20 miles-if SO much-will cut
no figure at all, when, as l have shown, no
time can be saved by your shorter route
1 A. Al. - Al. u Il
L. 8, G. II. Il. would place your tariff OF
transportation so low as to starve your branch
road out, suppoSing tpossible now to finish it.
Ii it had been for such shadow of a road as
this branch road, built at such all amazing
cost, and wthal $50 heinously unlurnshed,' -
that you solicited our stock, you could not
have had dollar-not dollar. Until Evans
vile is approached by Southern railroad,
which will be the case in from two to four
years, there is no prospect that such branch
road with such competition, can more than