Mineral Point tribune. [volume] (Mineral Point, Wis.) 1854-1858, 1857-06-23
CITY OF MINERAL POINT
Mineral Point Rail Road.

ton Of this thoroughfare affords suIla-
Die opportunity to trace, IN brief Outline
lis eyen,ful fortunes since the day II sprung
into existence in the shape of a charter,
granted In the spring of 1852. OF It's
history previous 10 that time we shall
say nothing at present, merely pre-
rnisino that il is better known TO
GU, or 'wo individuals who sat IN
their once during the preceding winter,
drafting and discussing the proposed route
OF said road at that time 1t being CUES
tionable whetherFreeport orWarren were
preferable as a terminus, or whether II
was practicable to construct road TO ether
place. AS is well known, many Of our
citizens redicued the idea that Mineral
Point could ever build or sustain such a
Road. while a large number protested
that the project would work nothing but
injury to our Interests. We trust that
now, in the first fash OF our prosperity,
due credit will be placed to the account Of
those who have borne the brunt Of the
battle, and have finally obtainted victory
over 50 many opposing elements.
The Charter required that stock to the
amount of 100000 should be taken and
FIVE per centum paid in, as preliminary
TO further organization. The subscription
books we're opened in the office of John
Bracken, Esq, Oh the 22d of June, 1852,
and Oh the 10Th of July following, the
whole amount necessary, subscribed by
eitizens OF Mineral Point and vicinity
Directors were elected by the stock-hoId-
ers, who began 10 look about for the fur
Their means required TO complete the Road >
Proposals were received from several
parties 10 take the contract, which vas let
to Mes.rs Cook & Chamberlain on the
18th day of February, 1853, for the sum
of S65O,0OO.
Our ci,izens we'll remember with what
e1uberance of JOY they proceeded to break
the ground on section two, on the 3Oth of
May following, when our respected
townsman, now deceased, Col. ABrER
NIcHoLs, turned the first sod amid the
acclamations of admiring spectators, and
how there was music and rejoicing, and
tossing of hats and good time generally.
One provision of the contract placed in
the hands of the contractors $50, 900 of
County Bonds, conditioned upon a vote
of the people of the county. A special
election was held for that purpose on the
20 of June, when out of an aggregate vote
of 2 ,533, there was found a majority of
l57 in favor of the issue OF such Bonds
IN accordance with which vote, the Bonds
were issued and signed by the late JoHS
M EssERsMIrH, then Chairman Of the
County Board OF Supervisors. The con-
tract of the company having been
complied with so far, it was with no little
degree of alarm that the people saw the
work remain IN srArU QUO; but by some
private arrangement which outsiders were
never able TO understand, within one
=
Cook s Chamberlain were released from
the performance of their contract, and the
company was again afoat on the sea of
uncertainty. Thus ended contract num-
Der one.
A second contract was a; length made
with Messrs. Keep & Gates, for the
grading, masonry and ties; the former
having the first sixteen sections and the
latter the remaining sections of the line.
Under this arrangement considerable
progress was made, and in October a con-
tract was made with the Galena s. Chi
cago and the Illinois Central Rail Road
Companies, by which they jointly guaran-
teed TO the Mineral Point Rail Road
Company an annual net income of $50
600.
Contract number three was now made
and ratified on the 10th day of December,
1858, with the celebrated firm of r. &
&. L. Schuyler, of n. Y, providing for
The entire completion and equipment of
the Road by the first Of December follow
ing, for the round sum of 81 900. 900, in
cash. stock and bonds. This firm nearly
completed the grading, and had purchas-
ed Iron sufficient 10 lay the track; but the
discovery Of some peculiar financial trans
action on the part Of the senior member of
the firm, resulted IN their magnificent
failure about the last Of June, 1854, pro-
ducing feeling of distrust in relation to
Rail Road securities from which the pub
nc mind has scarcely as yet recovered.
Net discouraged, however, by this ca
!amlty, the Directors renewed their ef-
forts, increased the stock subscriptions.
and by vote III May, 1855, obtained
s60,0Oo Of bonds Of the town of Mineral
Point, and $4,000 Of tie adjoining town
n w a tyt-r.-