Bradford reporter. [volume] (Towanda, Pa.) 1844-1884, 1858-06-03


make herself a common carrier, entering
into competition with individuals Cher own
citizenS) in the ordinary business transactions
of life. 4 government travels outside of her
legitimate duty when she embarks in any such
enterprise
The people everywhere throughout the
State have long demanded sale Of the public
works. They have as | have already shown
frequently expressed their wishes upon this
question in terms not to be misunderstood, and
all parties have yielded assent to the pop
ular sentiment. No political organization has
ever dared to brave the people on an issue of
this kind. Designing men and faithless poti-
clans may attempt under the garb of friendship
for the dear people to excite prejudice against
men who aided to carry out their wishes and
consummate this great measure of reform, by
raising unimportant questions about the terms
of sale, or the yet more trihing opposition
based upon petty quibbles, or uameaning tech
ncalities but the time for such political shut.
fling has passed with the people of this por
ton of the Commonwealth. | deeply regret
that any one has been miSled by the represen-
tationS contained in official reports prepared for
the purpose of defeating a sale, and in which
the real expenditures and receipts on our Ca
mails were carefully concealed.
| do not doubt the wisdom OF the policy
which founded our system of public improve
mentS. These improvements have made our
State rich beyond measure. Untold mil
lions have been added to the assessed val
ne of the taxable property in all portions of
the State where these channels of trade have
been opened. They have made the sturdy
hor Of fbo NIT l.,
more rapdty to the strong arm of the pioneer
farmer and happy homes of independent
freemen can now be found where but a few
years since the wild beast of the forest held
uninterrupted and uEdisturbed possession.-
The genial influence of civilization has spread
over the land wherever these improvements
have extended, in rich profuSion School,
house and Churches dot your yaIlies and hill
sides more thickly, and many and vast are the
advantages we derive from them, and while
we enjoy all these benefits from their erection
and maintainance as now occupied aud man.
aged we shall continue to enjoy them more
fully after, than before the sale, and at the
same time dry up thousand avenues of fraud
and pecuatiOn upon our treasury
1t is complained in the most general terms
that we have sold the canals to an irreSponS-
bic and insOlvent company, and the most vague
and unfair allegations have been made that
the Sunbury and Erie Railroad Company is
insolvent and that a sale to that Company
will involve the loss of the purchase money.
| admit that this is a grave question, and if
gentlemen would COnine themselves to the
proper and legitimate source of inquiry in
stead Of dealing in general and reckless char
ges Of insolvency against the Company, they
would, if impartial, long since have come to a
different conclusion. | do not speak unadvis-
edlv when | assert that the Sunbury and Eric
Railroad Company is solvent. The Company
have a mortgage of one million of dollars upon
her 40 miles of finished road, and of the bonds
authorized to be created upon this mortgage
the Company hold unssued over $500 000.-
Her floating debt is small such merely as is
| absolutely necessary in carrying on the busi-
ness of the road and prosecuting their work,
making the whole debt of the company less
than one million of dollars their bonds to-day
are worth more in the market than the ) per
cent bonds of the Commonwealth. Last year
the 40 miles of completed road from Sunbury
to WiIamsport paid mere than the interest
at per cent. upon two million of dollars ;
the nett earnings of the road being near 81 TO-
600.
Titus you see that the Company is solvent,
and is not in that bankrupt and worthless con-
dition that interested and reckless opposition
have represented her to be the evidence in
regard to her solvency is within the reach of
every man who may desire to know its condi-
tOn Again it is alleged that the company
will be unable to complete their road with the
proceeds of the bonds they are authorized to
issue under the provisions Of the law making
the sale The Company have 22S miles of
road to finish there has been a re-survey of
| some parts of the unfinished portion of the
road, and the cost of structure greatly lessen
ed twelve thousand feet of tunneling has
been avoided, second class masonry has been
adopted in the new plan, and single track
| bridges have been agreed upon, and the cost
of completing single track estimated at $5,'
500, 600, by reliable and competent engineers.
A large portion Of the grading is done from
! Williamsport to Farrandsvlle 33 miles, and
the iron paid for and delivered to lay the track
with thus enabling the company to put sew
! entythre miles Of their road in operation dur
ing the present season, in connection with what
is already done, the outside cost of which from
WilliamSport to Farrandsville will be less than
| four hundred thousand dollars. From FaTandS-
vile to the mouth of Sinemahoning, so much
of the grading has been done that it is conf
IDENTIFY asserted that $3.50, 1000 will complete
it, and thus the Company for S7500OO, will
have over one hundred miles of their road
completed, from Sunbury to the mouth OF
Sinemahoning and $500, 1000, with the libe-
raj local and county subscriptions in the north
western counties through which it passes, will
complete the road from Erie to Warren TAX
| ing then the los miles frcm Sunbury to the
mouth of the Sinemahoning, and the 64 miles
/ from the harbor Of Erie to Warren, and you
have completed III miles of the road for 81 /,
250,OOO, leaving only SO miles to build, and
$f,250,000 of the estimate to finish it with,