The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1859-04-14

the road, and did not include any OF the
bridge work, nor the materials for bridges
nor the cross-ties on which heavy payments
had been made by the contractors. His es-
innate was known to be largely under the
amount actually due the contractors.
The amount due on o. H. Smiths en-.
dorsements is less than $4,000, instead
of 100000, as is stated by Mr.. jeremiah
Smith
Of the $4,000 of bonds sold by the
contractors for $4,000, the payment was
taken chiefly in dry goods, which were sold
to country traders, and e large portion of
the money is still uncollected. 1t is wrong
therefore to enumerate that amount among
our cash receipts. A large amount of these
dry goods debts that were not collected have
been assigned by me for the benefit of the
contractors creditors.
The amount of interest received from the
city of Evansville did not equal the amount
of cash which l paid out on the cou-
pons of the city and company's bonds which
we had sold and there is actually at this
day balance of several thousand dollars
due to me for money advanced by me
to preserve the credit of the bonds, by
paying the interest due ON them as it ac-
crued. The company always relied ON
myself to advance the interest from the
day the bonds were issued, and I punctu-
ally met all the coupons up to the day of
general reputation by the road and city.
With these corrections and explanations,
my statement made some weeks ago, will be
found in the main to be strictly accurate.
Mr.. Smith makes an attempt to bamboozle
the stockholders of the Straight Line Rail-
road into the belief that Willard Carpenter
& Co. are indebted to the company in their
worthless assets, to the amount of a quarter
of million. In answer to this sweeping
charge, will call his attention to an occur
the Hon. o. H. Smith were in this city, at
tending to the suit between the city and
road, when both gentlemen were staying at
my house, and when it was evident the road
must stop, an account current of the trans
actions between the road and contractors,
was submitted to their examination for the
purpose of coming to definite eonclusionin
regard to the real state of the affairs of the
road that account, which was undisputed
at that date, when no i'll feelings had been
engendered, but all were acting harmoni-
ously, shew balance due the contractors of
$4,000 beside the cash balance due me
for advances to pay the coupons on the
bonds. Mr. o. H. Smith said at that time
that the statement appeared to be fair
one on the face of it, Jeremiah Smith made
no objections to it. He only said that he
had come into office too recently to be ia
miliar with the contract and the work done.
Not dollar has since been paid to the con-
tractors and it is strange how balance of
S127,0oo in our favor, eighteen months ago,
has been changed to one of a quarter of
million against US.
Mr Smlth ana every other reasonable
man must be fully persuaded that the
amount of good work done on the road could
not have been accomplished on the unavaila-
BILE assets given to us by the company. The
work has all been paid for as it was receiv-
ed, and it required heavy cash advances; all
of which was raised upon my name; and
little or none of it has ever come back in
any shape to my pocket. My personal ad-
vances and present liabilities for the road
are very nearly equal-as 1 have before
stated-to the whole amount of work done
on it. Yours,
WILLARD CARPENTER.