St. Charles City Republican intelligencer. [volume] (St. Charles City [Charles City], Iowa) 1857-1861, 1858-04-15
stlisctIlann.
McGREGOR RAILROAD,
First Annual Report OF the Directors.
STATEMENT OF THE PRESIDENT.

The Board of Directors, in present
ing this their first Annual Report, feel
that they have special reasons to be
gratificd with the results of their first
years operations. Our efforts to place
upon a basis Of permanent success
one of the greatest enterprises of the
West, have been met by the people of
the country wherever we have APP
pealcd to them, with Il zeal and una
nimity Of feeling which speaks we'll
for their intelligence, and affords us
an assurance that the whole commu-
nifty are sustaining us in carrying our
work to a final success. With us it
has been long a settled conviction
that the business of our country de-
manded this Improvement, and that
its resources were so abundant-un-
rivallcd as we believe this portion Of
our State TO be in the proluctivcness
of It's soil-as to fully Justify us in all
our expectations Of the ability Of the
Company to accomplish the under
taking. And more careful and cX-
tended survey of the whole ground,
but the more fully conyinces us that
with a general concurrence of all in
tcrestcd, Immediately and directly in
our enterprizc, we shall be able to
rapidly and successfully complete it,
Less than one year has passed
since the books of our Company were
formally opened to the people along
the line for subscriptions to the Capt.
tai Sock, under the direction of our
energetic aud efficient Stock Agent,
L. ID. Clinton, Esq, of Wisconsin, and
they now present the gratifying fact,
as you will see by his Report accom-
panying this, that the amount sub,
scribed has already reached sum ex,
ceeding Three Hundred Thousand
Dollars, aud in the short space of
three months, which were devoted to
| that work.
From an examination Of the books,
and from an acquaintance with the
men, we are satisfied that these sub,
scriptions are of the most reliable
character, fully two-thirds of the
whole amount being by farmers and
mechanics along the line Of the road
and i'll the small towns and villages
i'll the interior, the same having been
taken i'll small amounts and easily
within their means to pay.
In the early organization of this
Company, Benjamin II. Edgerton, Esq.
an Engineer OF known integrity and
capacity, was elected Chief Engineer
and under his superintendent and di
rection surveys have been made o.
three several routes, designated by
resolution of the Board of Directors
extending from McGrcgor, on the Mis-
sisSippi river, to common point
about fifty miles west. For particu
lars of these surveys you are referred
to his Report. Although those sur
veyes have not as yet been sufficient
| ly minute to determine the ultimate
and precise location Of the route i
shall traverse on its western course
yet sufficient is known certainly, tina
no serious obstacle presents to til,
construction of railroad, over cas-,
grades, and at an expense not hazard
GUS to the means Of the Company.
The surveys and estimates on til,
first thirteen miles were complete,
early last spring, and that portion 0
it was at once thrown open to publ,
competition for contracts, and imme
diately thereafter ten miles of tn,
grading, bridging and masonry wer,
let at very favorable prices. The as
gregate of those lettings was at tig
ures very considerable under the est
mates of the Chief Engineer, but tn
character of the contractors for energ.
!, and business tact, was such as t.
warrant the closing up of contracts a