The Council Bluffs nonpareil. [volume] (Council Bluffs [Iowa]) 1857-1867, 1859-11-05
RESUMPTION OF WORK on THE NJ. 4 NJ
RAILROAD.

news that the Mississippi and Missouri
Railroad Company have effected a loan Of
not less than one million Of dollars, with
which to prosecute the construction of their
Road west of Iowa City. Mr.. FARSAM,
through whose efforts, in connection with
those of Mr.. DURASr, the Company is mainly
indebted for the successful termination Of
their long pending negotiations for funds
is already on the ground at Iowa City, con-
trac,ing for the vigorous prosecution of the
road. The intention is to complete the
inc to Grnnell, in Powesheik County. imme-
diately. Every e1er,ion will be made to
complete 80 miles Of the road within the next
90 days. notwithstanding the Company have
seemingly been doing little or nothing for
the past year, they have been quietly push
ing things along. The bridge over Iowa
River at Iowa City is under contract, and
the local papers say that all the timber is
on the ground for its construction, and that
it will be completed in from sixty to ninety
days. All the bridging timbers for serenity
miles Of the Road have been SCOT OUT"
and iron for at least 80 miles, is, we pre-
sumo, at Chicago ere this; and running
stock for the entire road to Des Moincs,
contracted for. The Davenpor, Gazette
says that the company have made arrange
men,s to push the work vigorously beyond
Iowa City,-as fast as money and men can
drive it. 1t bids the croakers "good Bye"
says their occupation has "gone up" and
that the an. & NJ. Rsilroad will move to-
ward the Pacific by the route nature made
on purpose" This is, indeed, good news for
Western lowa-so far as it goes; but it
would afford Us infinitely more pleasure to
chronicle the vigorous resumption of work
at this end of the line. What say the Com
pany? Are they going to resume work
here Dor i. Council Bluffs to receive no
direct or tangible benefit from the loan
lately negotiuted? If not, why?
In relation to the loan, and the resump-
ton Of work on the road, we call attention
to the following extract, clipped from the
Money Article of the n. Y. Daily Herald,
Oct. Goth:
We alluded yesterday to the renewal Of
the work on the Mississippi and Missouri
Railroad. This is one of the most impor.
tan railway avenues of the Far West; it is
to traverse the State Of Iowa from east to
west, from Davenport on the Mississippi to
Council Bluffs On the Missouri. One hun
dred and seven miles have already been
built. Davenport (,he eastern terminus of
the Rock Island road) is in Communication
with Iowa City. This part of road was
built, or nearly so, at the time of the crisis
Of 1857. In consequence of the disasters
of that period the company wisely sus pended
operations, hu, was enabled to pay its way
and to pay the interest on the bonds it had
issued " to that time, about 81 900 900 in
all, without morrg"11'ne its land grant. 4
lew week: ago. ma HIbtfpsearance the compans
(of Which Mr.. John A. Dix is President, }
resolved to proceed with the work, and
disposed of about a million Of its land
grant bonds, secured on 4l7.O0O acres of
I"hu, uhu the luture rOhu 10 De built. The
bonds were taken by two wealthy firms. and
with the proceeds 5000 tons of rnjiroad
iron are being forwarded to Iowa. The
new line will add largely to the wealth of
the State of Iowa.
From Money Article of N. Y. Tribune of
same date, we make the following extract
The Mississippi and Missouri Road has re-
Gently completed a negotiation for its bonds
OF considerable amoant, about 81 $50, 900
at very satifactory prices, and has sent for.
ward 1900 tons of iron to be laid west of
Iowa City. The road has now one hundred
and seven miles in use (nciudng the Mus
ca'ne branch,) of which twenty miles have
been completed since the panic. The road
has valuable land grant which is not en-
barrassed to the extent of one dollar:
4l7.0OO acres are in possession of the
Company, and from $4,000 to lOO. 900
acres more will be acquired rs the road pro-
crosses. This road is a valuable extension
of the Rock Island, and with the progress
OF the West will add largely to its income
The NJ. NJ. Company has always promptly
paid its interest without asking extension or
favor OF any kind, a rare occurrence.