The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1859-04-01

nar The Board of Managers have adop

ga
sag The Board of Managers have adopt
ed articles of association, embracing some
general principles, for the organization OF
company, and for the future management oil
the canal, which, with the contract with the
Trustees, are being printed, and will, on
Mosdav. be submitted to the citizens gen.
erally. and their aid asked in the form of
subscriptions. Each subscriber will be en-
titled to a vote in the association for every
$50 of subscription. The articles of asso-
citation win be submitted to the first meeting
of the Association for amendment and adop-
ton. '-''-'''.s.' 81.
The contract with the Trustees was unan-
imously approved by the meeting on We'd
nesday evening. The only provision on
which any explanation was requested, was
that of yielding the waterrent of three mills,
in Pike county, amounting, nominally, to
$3.50 per annum. 1t was stated, in reply,
that one of the mills paid no rent and was
about to be removed to another location;
that the amount actually yielded to the
Trustees was only $500 from this source,
The concession was made sine qua non in
the bargain by the Trustees; and it was fl
nally granted as contribution from this
division to the expenses of the general trust,
in consideration that we were to have the
benefits of the especial supervision and at
tendance to this end of the line of Mr..
Raleigh, the State Trustee, whose salary is
paid from the general fund. In return for
this grant, the Trustees transferred to the
Managers all the timber, spikes, and other
materials for repairs, now on hand, which
are estimated to be worth from $500 to
$500. sEu
The Board of Managers are all active bus
iness'and practical men. Mr.. Cook has had
long and varied experience in the superin-
tendence of buildings, canals, reservoirs,
dams, &C., and is peculiarly fitted for the du-
ty assigned him. Mr.. Lawrence is man
of sound judgment and prudence. The gen
tlemen selected from the country are ener-
getic business men, and deeply interested in
the success of the canal. In the hands of
such a board, our citizens have every assur-
ance the business will be well attended to-
In accepting the trusts, they are making
heavy sacrifices of time and private interests
to promote most important public object
one deeply affecting the future prospects of
the city. They have taken hold of it with
zeal, and with resolution to command sue
cess, if backed by their fellow-citizens with
liberal subscriptions; but they are equally
resolute in their determination that they
will not beg for the means, and with but
half enough resources to accomplish what is
needed, undertake the work and fail to car
ry it through, and then endure the mortifi-
cation of failure, and the loss of all their
time and labor.
Whether we shall have good and reli-
able canal for four years, depends now upon
the libera'ity of the subscriptions in this
city; for the example set here, will have an
important influence upon the subscribers in
the country.
We are confident there will be a ready
and generous response to the applications OF
the managers for funds. If this be done we
shall have reliable, navigable canal for five
years, and probably secure its control and
good management for all future time; for
the Trustees, in all their discussions of the
subject, have declared that they considered
the present arrangement, only as the first
preliminary step to final and complete
transfer of the canal to private hands; that
they did not ever expect to resume its con-
troll as Trustees; 80 that the company now
formed will become, ultimately, the owners
of the Southern Section of the canal; out
of which--in the growth of the country
one of the best Investments of the day may
be realized. A fifty dollar subscription to
the company for leasing the canal, may, by
being converted into stock for the purchase
of the work, become the best investment a
parent could make for his children. q
The amount of tolls collected at the of
fee in this city on Wednesday was Sill
In active seasons, with reliable navigation,
this ought to be made the amount of the
daily receipts here. Hh
Township Exposure. 3
The ENQUIRER of last evening is highly