The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1858-05-05
The STRAIGHT Line Railroad.

Comment Tor the present OF the Straight
Line Railroad. Are our citizens prepar-
ed for the question? 1t is o pity the
road was ever begun, and tina. the enter
prise that has carried it so far forward,
had not taken another direction and pre-
vented the two great railroad undertake
ings Of the city becoming rivals of one
another.
To tie City Of EcdnsriHs and Other Stock
hOlders IA the T., L., &c G. s. L. X. X:
The great interests at stake, and the deep
concern which | feel in all that threatens
good or evil to this community compcls me
once more to speak out, but this time very
briefly on the subject of the enterprise above
named.
feel no false delicacy on this subject be-
cause am the servant of another Railroad,
whose friends have been foolshly charged
with spirit of rivalry to this new enterprise;
and you have discovered that have hereto
fore been no false prophet on this subject
But because have, for the last seven years
past, been practical Railroad man and have
gone Though all the processes of construc-
tion and management and have had the OPP
portunity of becoming acquainted with the
subject on which write, it is my duty in this
matter of public interest, and private inter
est, to all of US, to speak out honestly, plainly
and fearlessly, and shall do so, let who may
oppose or revile me for it.
Then l beg leave to call the attention Of
all of you, to an advertisement in one of our
Oft na Of an n of of
Railroad, to be held at Indianapolis on the
9th Of May inst, and particularly that por-
ton of the advertisement which gives notice
that the stockholders in person or by proxy
will then vote for or against putting the
concern in liquidation or going on with the
work.
This notice, so far, is | believe all right,
and every Stakeholder has greater direct
interest in the correct decision of that ques-
ton than most OF you seem to be aware Of
After all that has TRANSFERRED it is not, think
too late to make or save great deal ofmoney
for the Stockholders by n correct and prompt
decision of this question, as propose briefly
to show.
In order, however, to decide the question
judicously and correctly, an important duty
remains to be performed by the Board o
Directors which is thus calling you together
There is a great want experienced by all o.
you; you do not want my arguments or opin-
speeches from myself or any one else, for OF
against the enterprise its past manage,
mont, no, none OF them. But l will tell YOU
what you want--a plain statement of fact.
and figures showing the exact present situs-
ton of the affairs of the company. That i.
what, and all you want, and You are Of righ
entitled to it, and ought to have it befor,
you take any new step or suffer any new stcE
to be taken by any one else in this matter.
On getting such u statement you, any anC
all of you, will be fully qualified to decfd,
the question before you, whether the concern
shall attempt to go on, or be immediatel,
wound up, and its assets distributed to tn,
stockholders from whom they were derived
L know, of course, that statement of TIN
affairs of the company will be made out TO
your inspection, but without meaning any
disrespect to the excellent Secretary, MI
Green, whom know and highly respect, i
will give you but very little useful informa
ton and for the simple reason that Mr.. Gree
has never had the materials and the facts be
fore MIN necessary to make out the most i'm
portant parts of a full and fair statement @
the cOmpany's affairs. And as | am neces
sarily somewhat more familiar with railroa
statements and reports than you general
are, beg your pardon for here giving yo
my ideas of what this statement ought
show; promising that the road has all bee
under contract for the last two years. The
the statement should show:
LIST. The total estimates of the chief En-
gineer of the quantities and the cost of a
kinds of work Specifying each kind sepal
ately) to be done on the whole line, and O
each Grand Division of it, and all material
machinery and other equipments needed
finishing and furnishing the road ready f
running.
These estimates. of course, must be mac
upon actual location and measurement, al
arithmetcal calculation by engineers.
al.
date, comprising statement of how niue
subscribed in cash, how much in lands, no
much in town lots, and how much in labo
or contract stOck.n
Sd. How much of each kind OF work h
been done ana materials furnished, and
what divisions, under past contracts.
4th. The amount paid in cash, in CT
bonds, in stock, in lands, in town lots f
the work already done.
5th. An account of uncollected ca,
stock, and showing how much is solven
low much doubtful, and how much hopclc,
9Th. AS so many years have elapsed sin
the subscriptions OF real estate were take
whereby its value may now be grea,
changed, that property should be careful
scheduled and re-appraised.
a separate schedule and appraisement
real estate subscribed and not We. conveye
9TH. Separate schedules and appralsemeI
of real estate conveyed By deed of trust
secure bonds issued, and of that not so co
veyed.
sth. The general account showing all
eeipts and expenditures under their prof.
heads.
9th. Bills and open accounts, receivat
and payable.
Having been put into possession of the
facts, there will be little danger of yo
taking = wrong step; without them y
must, if You move at all, ego il blind"
Having thus learned how much renal
to be done, and what means remain to do
with, you will know how much more mea
have got to be raised before you are prepar
to put the road or any part Of it again unt
contract.
Here let me say, that if any Of you ad,
cate the building of the first division OF I
road before the others built, under
expectations of its paying running expo
ses and keeping itself in repair, you HI
only to examine the recent history of the
lnois Central, the Evansville and Ora
louisville, the New Albany and Salem,
the other North and South railroads of
Western country to be cured of your dc
sion.
You must, therefore, in any calculation
going on with the work, provide for furni
ing the whole line simultaneously, and
being settled, the next question is, where
tba Thu ia nj