The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1858-07-13

first mortgage has been placed on the
road for fifteen thousand dollars per mile
aud 1910, 900 in bonds issued on the compile
ted portion Of the road bearing per cent.
per annum, payable semi-annually on the lst
'of April and October, IN the City of New
York, and having twenty years TO run from
the first of April, 1857, with which the com
pany hope to provide for the floating debt,
and aid in the extension of the road. But
the time has come when it will not do to
build railroads by sacrificing bonds, and
wherever roads IRE really needed, the people
along the lines must come up to the work
and aid literally If they expect such works
to be prosecuted with yigor. One third of
the whole population and wealth of the State
Of Iowa is in the Des Moines Valley, and if
the people along the line of this road would
make up their minds 10 afford the aid which
they could do without inconvenience, it can
be built to Fort Des Moines in two years, but
without such aid it must work its way slowly
up the Valley.
A liberal subscription has been made at
and in the vicinity Of keosauqua for the
purpose VI aiding in the extension of the
road 10 that point, distance Of seven and
three-quarter miles from Bentonsport. This,
1t is believed, will greatly increase the busi-
ness OF the road, and it is hoped that it may
be completed that far during the present
season.
contract has been made on favorable
terms with Messrs. Smith x O'Connor for
the grading and masonry Of the road from
Bentonsport to Eddyyille, about ffty-eigh
miles, and they are progressing with the
work between Bentonsport and keosauqua
with oommendable energy, and will continue
u above that point as soon us the requisite
aid can be procured along the line.
During the last session Of the Iowa Legis.
latnre law was passed granting to our
company the remaining unsold lands belong
ing to the Des Moines River Grant. The
grant to become operative in favor of the
company1e soon as Congress assent. to a
diversion or the lands shall become vested in
the State so as to be subject TO grant.
The question OF assent on the part OF Con-
gress has been before tha, body during its
present session, and bill has been reported
IN the Senate for that purpose, and is still
pending, and will in all probability be passed
At the next session, though i; is believed to
be OF but little impoi lance whether Congress
ever assents, ms the title will vest in the
State us soon as the lands are certified hy
the Secretary Of the Interior, and be subject
to the grant made by the State to the Rail.
road company.
The question Of certifying these lands and
the extent Of the grant is now before tho At.
torney General OF tho United States for de-
cision, and should the original construction
given TO the grant be carried out and con-
tirmed, the quantity Of lands vested will be
between five and six hundred thousand acres,
or if the lands should only be given to the
Minnesota State limo, the quantity will be be-
tween two and three hundred thousand acres,
and in either case would aid very much in
building the road.
II. I. REED, d. w. KuBouRse,
G. II. PERRY, wv. TlxBERnAN
CHAs. PARSONS, j. NJ. HAIR,
u. X. FoRp, Ed. KrLnouRsE.
keokuk, June IA, 1858.