St. Charles City Republican intelligencer. [volume] (St. Charles City [Charles City], Iowa) 1857-1861, 1858-04-22
NUMBER 27.
McGREGOR RAILROAD.
First Annual Repor: of the Directors.

NOlNcu upon me, among otl!ci tuttto
as your agent, to report what have
done in my official capacity. And in
making my report, you will allow me
to trespass somewhat upon your in-
dulgencc in giving the reasons for my
confident belief that in your orTanIza-
tion and in the work thus far done.
you have been influenced and guided
entirely by the dictates Of sound
policy.
In accepting at your hands the APP
pointment of Acting Director" and
general Stock Agent of your Com
pany, and in assuming the duties Of
the position thus assigned me in your
road, it was with full understanding
and a careful survey Of all the obsta-
cles should have to encounter in the
discharge of all the duties dcvolvng
upon me, and that trust was accepted
only when the policy of your board
was fairly and distinctly marked out,
and your future course Of procedure
in carrying forward your truly giant
work, fully determined upon.
The present year was already well
advanced before | entered the field to
canvass for subscriptions to tho capi-
tai stock of your road, and at that
time we were in the midst of a season
of almost unparalleled prosperity,
every article of trade and traffic being
in active demand at highly remunera-
tive prices, the warmest and most
active symphathics of the whole
country along your proposed line Of
road being directed towards your en-
tcrprisc, making it apparently an easy
matter to carry it forward rapidly.
| need not however remind you, for it
has become already matter of histo-
ry too real for disbelief, that since
that period there has swept over our
country one of those commercial re-
volufN7hs which leave in their track
financial troubles and difficulties not
easily overcome nor soon recovered
from. Enterprzc of every kind--of
magnitude, both great and small, are
alike depresscd-and men fearless and
bold in undertaking, and untiring in
) their energy, IN carrying forward
;, works OF public Improvement, IN good
: times, are now appalled, and disheart-
Of encd by the widespread ruin which
~ SlCctS tItill ol tNGiN ildlIu.
1t is looked upon now by all prudent
Of men, to say the least, as bold move
Of to commence under the severe money
!; pressure Of the present time, new
enterprise of the Importance of that
H. just commenced by your company.
b, justified, if at all, only by the absolute
:, necessities of the country through
r = which you propose to build your road.
r and even in that case unjustifiablc, il
Of you cannot rely mainly, if not wholly,
nd upon those necessities to help you car
ID ry along to completion the work of
it grading your road.
" As you are aware, the West has
heretofore been largely Indebted to the
of various monicd interests at the East
te for the necessary means to build her
T. great thoroughtares, but now when
the East, as well as the West is strug-
,s ,e Cling under Il crushing weight Of pc
or cuniary embarrassments, it would be
ii worse than vain to think Of asking
~ them for assistance, more especially
III as the mlsmanagement and dishonesty
g S5r of prominent and heretofore popular
railroad companies has helped very
ss materially to bring about and swell
-, the difficulties Of this sudden revolu,
Of ton.
nj The question with us, then, is nal.
it rowed down to a single point Have
lie we sufficient encouragement in the
e e, condition Of our affairs, and in the
ability Of the country to be benefited
M M, by our road, to go forward with ouI
all work under all the pecuniary embar.
of easements, which are passing around
au us, with the assurance that we can
ng carry it to a successful point west OF
TS TO the Mississippi River?
on The solution of this question is q
A' matter of serious import to us, and
ch will be found, in my opinion, to rest
in wholly upon the character Of country
to be benefited by your road, and il
ae np ability and disposition to do.
for If the country itself is such as vii
lali justify you in building road through
n5 Stl it, and ifit possesses in its agriculture
in capacity the power to yield the means
or or which can be gathered together ant
me used to carry along the work O
nay grading your road bed, the question
nj Of success in the construction of you
es railroad is settled beyond doubt.
,ru This question is one to which hay,
given the most careful consideration
m, snS and after having examined it with tht
Of aid of past experience, and i'll tht
hit, light OF present necessities, feel con
I'M lm, fident that with the policy which w
the have SO fairly marked out, and undevia
lns ,o tingly adhered to, we can move alon,
slowly and guardedy with work, to
any success. The experience of every da
) !. TO in the history of railroad building, bu
o a convinces me the more firmly, tina
anS aGS our policy when fully matured and d,
veloped as it will be, by the progres
suc. suS of our work, is the only safe policy
his be pursued i'll the construction of an
ans. railroad where the interests of tn
s,ro stockholders is to be at all subseve
oep! or protected.
J '',o to 1t is pertinent for us then to inquire
the What is the nature of the countr,
until mil through which you propose to bull
,tivss your road, and its capacity tor prohl
civil able cultivation, and what, lf'any, ar
r'sp , ssr the obstacles in its physical coniorma
ton in the way OF building clisal
'asa aS, road?
tnas ,hts Now in relation to the latter part 0
y or - ,. ;rouiry | am informed bV YOU
niay VI oui iiAi"''' :, . -
the chief engineer tnat corps Oh coupe
tent engineers, under his charge anc
cs. direction, have made the surveys au
.c. thorized 10y a resolution Of the Board
of Directors, to wit: Commencing a
, McGregor, on the Mississippi River
J one line called the northern, by way o
'' Fort Atkinson one, the southern, 81