The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1859-03-14

expended of his own money and that OF his
friends which he borrowed, about Sl4o,-
600; he allowed his partners to issue
500, 900 of the amount still unpaid. AT the
beginning of this enterprise he was out of
debt and possessed a fortune sufficient to
| satisfy reasonable man. He is now borne |
down with liabilities incurred for the road i
for he owes no other debts-and has been |
obliged to submit to an act of bankruptcy |
and place his affairs in another's hands to
prevent his property being sacrificed for
fraction of its value If others have suffered
severely from an enterprise in which all en-
gagged under delusive hopes and prospects,
he has made wreck, in the decline of life, OF
his peace of mind-his credit-and of an
ample fortune.
Some of the public papers along the road
have stated that his appearance at some OF
the points on the line had been the occasion
of popular excitement, and that he had left
by star light to avoid popular violence
There is not one syllable of truth in any OF
| buCoC oJOAlCo. MI. OdA pChtSi LOS bNSh ttNSo
of the time for several weeks attending to
business in the counties where it is said this
popular feeling exists. He has never, on
any occasion, been more kindly received or
Hospitality entertained; he has not received
an insult or an unkind word from any indi-
vidual-he has had no occasion to to leave
any place by any other light than that of
the broad day, and at Newberry, where it
| is said he took French leave, ne remained a
part of three days and two nights, and met
the kindest hospitality from its citizens.
1t is alleged by his detrsctors, that Mr..
Carpenter designs to make an immense for
tune out of the wrecks of the Railroad Com
paAy. He begs his fellow-citizens to scru-
tinize the above statement, which contains
list of every dollar of assets that ever
came into his hands, or those of his part
ners, as far as he knows-and see how it
can be possible that he can ever realize from
them, even the amount of his actual adj
vances to the road to say nothing of COM
pensation for the time, labor, and incidental
losses that he has incurred. III
No one who will go over the road and ex-
anime the work actually done, can have any
doubt it must have cost at least $350,000-
Only ST 90, OO9 of that sum has ever been re-
allied from the assets of the road. No other
person has ever contributeda hundred dollars
to pay for the work done, except what has
l
been obtained on the obligations of Willard
Carpenter & Co. There must therefore,
have been raised on his credit and means at
least the sum of 1924, osO, to accomplish
what has been effected. That amount, at
least, is due him from the road. Would
| any citizen take an unconditional assign
ment of the remaining assets of the road,
and pay his cash advances Dedncting the
/ $IT3, 600 of assets sold, there are $4,000
of nominal assets, complicated by pledges
aud liens. The city bonds are repudiated
D by the city; the title Oh which the real es-
: ---r--r--- r'srrv, 10 uIsPut-
= ed !; the $74, 900 worth of lands unsold, are
, conveyed to o. Fl. Smith, Esq, to secure
4 him for liabilities, amounting to less than
$50, 600, and they are subject to be sold fol
these liabilities. In this condition would
O any prudent man take the risk, and
pay % cents. on the dollar for the whole
batch of $379,0OO. If they were all under
10 Mr.. Carpenters control, and could be SOLD
% for so cents on the dollar, he could not gel
70 the actual amount of his advances and liza
| Of 10 1T Ia,
N heavy damages and sacrifices he has incur
d red, amounting to more than SEQ, 900 in III
=, terest and shaves, to raise the money to sus.
e tain the work on the road.
e But of this 1878 900, there are pledged
# as collateral and beyond his control, except
IS by redeeming them at forty cents on the
e dollar, bonds TO the amount of $40, 1000
n His partners have embedded and withhold
y from him $l23,o0O more, and the lands be-
n ing conveyed to Smith, he stands to-day
e under liabilities of $l7o,oOO, and with ad
If vances to the amount of $l4O,00e, will
nothing in his own hands to compensate
# himself, except about $4,000 in diShonored
:. bonds. Was there ever more unwarrant-
e able and malicious Suspicion conceived, thar
: that which charges him with an attempt to
e convert that which belongs to the road tC
e his own personal use. All that he now ha:
IS in his hands, obtained from the road, vii
n not pay the lawyers fees in the suits which
n the road has entailed upon him e. te
S, As contractors, there is due, according tt
lie their estimate and construction of the terms
l. of the contract, $3.50, 900; besides, there il
II due on the coupons of the bonds, $40, 900
10 making the entire Indebtedness of the roat
ts to the contractors, $500, 600. IL charged
i with the entire amount of assets received by
e. them at par, there would be due contractor
v about $4,000. But they have resigned
is all hope of payment under the contract; Mr.
ID Carpenter seeks only for partial remunera
IS ton for the heavy sums of cash that he ha
re actually expended in the work done on tn,
20 l. Al ~. Ino