The weekly Minnesotian. [volume] (Saint Paul, Minn. Territory) 1852-1858, 1858-03-06

panys affairs, makes this extract from tue re-
port, which We copy as warning to The
members of our Legislature against trusting
the birds of the same feather who have pos
sion OF the Minnesota Land GIant,-to dis
trust the glowing representations OF the
value of the lands which they are offering as
security:
'Ths says the repor) it will be seen, leaves the
Company without dollar income to meet the inter
est on the Farm Mortgage Bonds, the unsecured ons'
the maturing obligations of the Company or even tht
current necessary expenses of the agents ana
whose time ard efforts necessary to the work. ~"
resources for these objects are now lett except what
may esaYed from the securities pledged as coiateras
and rcm such claims may be established upon secu
tiles AMI property beyond the control OF the board
The carniIigs OF the road, although not eqti 10 e
sanSune ancipatons here ofore laid before the puoc,
are still indicative ample returns upon the capital it
should have cost. We do not entirely concur In the
sungUsne estimates ojMe catUe Of TIC toa0s donated
for TINS work. which have been set forth i'll the 1ornie
report but while this is the have entire conn
dence that when the road is completed these lands wi'
be found most impo element in giving security
the bodhoiders and remuneration to the socAo'defS
for their sacrifices in accomplishing the result.
1t IS stated that the entire length Of com
pleted road is 1873 miles, leaving 81 miles
to oe finished to the Mississippi. The report
says:
sin referring to the causes that have produced the
embarrassnentS of the Company cannot be disguised
that the Land Grant ITSELF y sought has by the
expenses Of the contest for its SION contributed
very largely to the result. OF the liabilities Incurred.
the following may be traced directly to this
l. Construction Bonds of 1862, issued for char $40
@ CONSTRUCTION Bonds Of 1851 issued for the
purchase of the st. Croix and Lake Supe-
flOr Railroad Company. 1OOO,O0U
.. STOCK issued for charter expenses at Mad
f. G,aso,idation Bonds issued for stociin '''
tie u. and W. Railroad Company,
ono tor ''seruice' in and about tie Ctn-
SotidatiOn. NEUTRALITY-SUSPICIOUS.. 100000
8. Notes issued by b. Kbourn, President, to
the Madison and Watertown Railroad . 10000
D. capitol Stock sold in New York in 1856, to
OUl1o per cent. to pay the debts of the
"atertown Railroad Con'rany......-... 6O0,ow
The Tribune then remarks:
The Board have taken steps to recover
the million of bonds issued to the St. Cr,lA
and Lake Superior Company, and also two
hundred aud ten thousand dollars of bond
leaned to the Minnesota and Pacific RallrOa'.
Company, which never reached the treasurer
Of that Company"
'iro hundred and ten tSousond doiidrs o.
bonds loaned to the MINNESOTA and Pacific
RAInoAD COMPANY, anlich aecer reached tie
1rsas7!ry Of that Company! Here is nice
coil to be untwisted To what purpose was
this large sum applied Cannot MIR. Ed
muni Rice, the President Of the Compan,
afford the people light upon this subject
Having been so much engaged in givin;,
"ilsht'' to legislative bodies, suppose he trie-
his hand at affording the people a lille in re-
gard to the disp sition of this 5000 0O0
Nice pickings eur legislators must have had
Nice "Sop" the resigning Directors mus
have dipped their bread into
And Jet, fealsw.eit,.ens you are askej
to hand over TO the-same scandals whe
'!us corrupted your legislator, 4 ,lislfn'
of go!cel Gravy extracted from the public
goose, to the brown tune Of S5,000,U00 o
dollars Such imprudence is worthy O.
such rascality: aud both belong to the mag
nilicent scale of inpositions and impostures
We scarcely hope that the bill will be de
! ieatcd before the Legislature, for we fear the
same appiences which purchased the Extra
Session, are being used to purchase votes tol
this monster bill !; but We rely with entlr.
conf 'ence upon the business and agrcliu
| raj People, everywhere, to rescue at the bal
lot-boXcs the State Treasury from being de
pcted in this wholesale style for the bcneli
Of dishonest and plundering Railroad compa
MES. The present management is unworth,
! Of trust.