The Council Bluffs nonpareil. [volume] (Council Bluffs [Iowa]) 1857-1867, 1859-11-12
SOUTHERN RAILROAD PROJECT.

SOUTHERN RAILROAD PROJECT.
A petition is in circulation, for the OBJ
tainance Of signatures, asking the Common
Council to submits the voters Of this City:
a proposition to this effect--viz: That the
CITY of Council Bluffs subscribe $25 900 to
the Capital Stock Of the Council Bluffs and
St. joseph Railroad-to be paid in Bonds
running years, and drawing ten per
cent interest per annum. The petition does
not set forth the date of the maturity of the
proposed issue of Bonds, but we presume
it is not proposed to have them mature in
less than five years.
This is the proposition which the voters
Of this City will soon be called upon to
decide, we presume. Are they ready for
the question? With their knowledge OF the
stamina Of this Railroad Company-of the
inpor:auce of the undertaking they have
engaged in-of the amount Of funds neces.
.ary to secure the early completion and
practical operation of the Road-are they,
with their present knowledge of these mat
tiers, we say, prepared to vote in a manner
calculated to subserve their own nteIests,
and those Of the City? We hope so.
That the City, in its corporate capacity
il so wiled by the citizens, can take $25 900
stock in this Southern road, is beyond cav'l.
That it is its duty, and interest to do so, II
by so doing, it ensures Railroad connec'
ton with the East in eighteen months, is, we
think. equally beyond cavl. 1t will not do,
however, to become involved in debt OF
this character, other than understand ngly.
We should like to act upon safe and liberia!
principles ia this matter, and to that end,
and that We may act Understandings in the
premises, we should like some information
respecting the plans of the Company-the
sources from whence they expect to obtain
the $4O0, 900. with which to grade and tie
the road-the steps taken to realize that
sum, anil the prospects Of its realization IN
time to be Of avail IN meeting our Missouri
ncichbors at the State line, in the Spring
of lo6l. We ask this much in no faetous
spirit, but simply for the purpose of elicit
ing information, without which, it seems to
us, no consiierate person would or should
support the proposition set forth above.
We have said, and we steadfaStly hold to
the opinion, that the counties in Iowa,
through which the c. B. & St. Joe Railroad
passes. can easily build this road. But
abil;iy to do this work is of no earthly &C.
count, unless there is willingness on the
part Of those interested in its accomplish
men., to como up panfulIy to the assistance
of the Company. For aught We know to
the contrary, that willingness may have been
expressed -not only that, but rendered Of
avail, by the tender of material add If
20, we should like to know it. We may as
well tax "right out in mecting,' about
these matte rs. The General Agent Of this
Company uaverscd the Counties of Mills
End Fremont, over q year ago, for the pur-
pose, we believe, of obtaining subscriptions
TO the Capital Stock Of this Company; with
what result, We never learned. We should
like to know whether there is disposition
on the part Of these Counties to aid in the
forwarding to completion of this road; Or
whether, it is with them all talk and no
money. This road can only be built, by
united effort on the part Of those interested
in its construction. Therefore, if Council
Bluffs should vote a subscription Of $25 600
to the Capital Stock of this Southern Rail
road Company, the terms upon which the
bonds should issue, should be such, that the
completion of the road would be secured to
the State line, beyond any contingency, in
eighteen months. With tbs understanding
made good by the action of the people of
Mills and Fremont Counties-we presume
there would not be single voice raised in
opposition to an issue of $25, 900 of Bonds
to the C. B. & St. Joe Railroad Company,
by the City of Council Bluffs.
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