Quasqueton guardian. (Quasqueton, Buchanan County, Iowa) 1856-1858, 1858-05-13

pie would turn their unmarketable mate
rial into good specie paying investment.
There was no doubt that the road would
pay good dividend as soon as completed
to Cedar Falls, and the effect of having
the road owned at home would be to re-
tain It's revenue in our midst, while. if
built upon borrowed capital, every divi-
dend which the company declares would
be drain upon the finances of the coun-
try. Suppose, for instance, the people
of Buchanan county owned 800, 600 in
stock of the company. then dividends of
20 per cent. per annum, would throw
yearly into her lap $50, 600 in clean cash,
sufficient to make a decided impression
upon the local finances. Every farmer
possessing thousand dollars worth of
stock, would be sure of cash returns of
$500 in this case. That this was no ex-
aggerated estimate of the proceeds of the
road, the facts heretofore given showed
This revenue, of course, would be de-
rived principally from the local popula-
ton, and if the road was owned by them.
would, to large extent, return to the
same sources, but otherwise would be
that much of drain upon them. The
incentive 10 secure this stock, is then appa
rcnt--thc facilities offered great. If the
road progressed, the company would be
compelled to issue their scrip to the con-
tractors this they could not do unless it
would buy the articles enumerated, and
to insure this il was necessary to make it
an object for the farmers and others to Sc.
cure it. For this reason they wanted
the people TO subscribe for stock. for
which they could pay in this scrip. This
would make the scrip current, and cause
1t TO answer the end of the roads ad-
vancement almost as well rs money. In
stallments could not be called for oflener
than once every three months, and not
more than live per cent. at time, thus
giving five years in which to full pay
the stock. while the company allowed
seven per cent. interest on all instalments,
as means of placing on an equality the
full paid and partly paid stock.
Besides, Mr.. SMITH thought it highly
probable that not more than 25 or 80 per
cent. of instalments would ever be called
for. The lands would doubtless soon
again be in demand, and when sold the
receipts would probably be sufficient to
prosecute the work as fast as advisable
The company had now title to $50, 400
acres of land, and had perfected plan
by which it was thought their sale would
be accelerated, and at the same time insure
their development. This was, to sell
them to settlers at SIS per acre, 81 25 per
acre in cash, and the remainder in install
ments, the last in five years from date of
purchase. This price would, when deem
ed advisable, be increased so as to bring
the mean to the former proposed sum of
Sc 25 per acre.
Many other details were given by Mr..
SMITH, which we cannot, from want of
recollection as well as of space, at pres
ent give. Nor can we, for the latter rea-
son, attempt to give even an imperfect
sketch of the remarks of Mr.. CLINTON,
who was hatteringly introduced to the
meeting by Mr., SMITH, and gave some
sound views, both abstract and practical |
Of the benefits of railroads, in his humor
ous, otf-hand, and convincing style. He
IS perfectly conyersant with the operation
81 western railroads, and gave to the
meeting much practical and needed infor-
nation, influencing favorably many minds
10 the project in question.
We have dwelt thus fully upon this
matter, partly because of its general in
erest, but mainly from the fact that from
he short notice given of the meeting,
he portion of our community most in
crested, and who have the means of
'vaillnS themselves Of the opportunity
here offered, (the farmers were not pres
ant. The plan which the company Of
fers is plain aad simple, involving no
rickery The road will be of great ben
Eft to us, and it is our interest to have
L built as soon as practicable. The stock
promises TO be a good investment, and
no more favorable opportunity
ever was offered for its procurement.-
With the present unsaleable quantity of
produce which we have, the plan pro-
posed seems to US a reciprocal benefit,
md should be embraced by our farmers.
We have a direct interest in seeing this
road constructed, and although in this