The weekly hawk-eye. [volume] (Burlington, Iowa) 1858-1860, 1859-04-19

Ymnortant Link in our Eastern Rail
mad connection provided forth
peoria Road to be completed to 10
esusport this season.
~. New York Times Of the l4th tas, in IL
..n.rcial article, the following important an.
.o,oeeuen., BY which it will be seen that mean,
Nv. been provided for she early completion o.
=. .o,oectins link Of 60 miles 10 our Eastern
i. Peoria, Logausport and Fl. Wayne.
.. nj. 10 Us very fortunate arrangement Bur
N .oou have the shortest and hest
- connection with the Atlantic aboard
:, -, ei,y upon the Mississippi. not even sx.
.,;n, 8, Louis. And it not only gives 10 .
80. connection with New York and
80 ~ ~, With Philadelphia, Baltimore, Pitts
.nrrh Central and Southern Ohio, and in fact
IN ,be whole East. And 90 large is the saving
:. a...pce and time BY this air line road that ie
in inevitably become, as soon as completed,
:, ;mnor,.n. thoroug htars-s great through
,...,,smen,s have been on foot for some
-. mast. and are nov completed, for con-
Av he southern Lake Shore lines Of Rail-
-;,b darlington, Iowa, on the Mississippi
D. a;,ee, through the Wabash Valley in To-
-, ma the Peoria Road in Illinois. The
NaL ..n,,pp 10 81 miles from Log.nsport, ON
~. wabash Valley Road, to the Illinois State
hnnna.rr where the Peoria line from the River.
onno.,tr Burlington, terminates. All the other
lines from Buffalo, New York, to Burlington.
unite in means TO build, Immediately, this i'm |
por,snt link. The mortgage 10 made for $780,. |
ov0. The Peoria and Oquawka Company Do. |
come the lessees Of the Road in psrpetuity. The /
Wabash Valley, Cleveland and Toledo, Cleve-
land. Paiuesville, and Ashtabula, and Buffalo
and State Line Companies undertake to pur-
chase the mortgage bonds or virtually redeem
them at par from the first or original holders
With one half the proceeds Of the business which
these Companies derive from the new connec-
uon both ways. The purchases are to be thSs
made every month; the numbers of the bonds
ior surrender at par to be drawn by lot. The
Companies stand good for this arrangement in
sSe proportion Of the respective lengths Of their
read That is, the Wabash Valley undertake
10 purchase $500, 900; the Cleveland and Toledo
$4,000; the Cleveland, gainesville and Ashta.
tsa $50, 900; and the Buffalo aud State Line
$4,000. The Peoria and Oquawka Company,
" lsssees, undertake to provide the interest
upon the Bonds. Of the mortgage of $SO0, 900,
de sum Of $4,000 has been placed in England
for The rails, and the remaining $3.50, 900 have
just been sold, by subscription, in this city, by
lessrs De Coppet l. Co.
The New YORK Tribune of the same date has
N article to the same effect, from which, how.
ever, We learn that it is expected to close up
The gap and be ready for business in October
next This will be quick work.
Nessrs De Coppet L Co. have just concluded q
negotiation OF $3.50, 900 Of the per cent t
bonds Of the Toledo, Logansport and Burlng-
ton Railroad Company. These bonds are por.
tiou Of the $4,000 secured by first mort.
gage Of which the remainder $45O,0oO, we're q
used for the purchase Of iron by Robert Benson
{ Co., Of London, through Messrs. n. K. Jesup
Co. OF this city. This road connects the Peoria
md 0qaawka Road with the Toledo and Wa.
BASH distance Of 81 miles. Tho negotiation
pi the above bonds secures the completion OF the
road which it is expected will be ready for use B
By October next. The peculiar feature of these
bords consists in their being received under q
contract by the connecting roads extending
hon Logansport to Buffalo for one half the
height charges on all business passing over the
sonnecIlg roads TO or from the Toledo, Logans ]
port and Burlington. This will furnish con- l
tant absorption Tor them, and it is estimated
bot IN three to five years they will be all alb.
orbed.
Our readers need not be informed tina: this Is
usa very important matter.