The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1859-09-09
The Railroad Contract.

the terms of the contract entered into for
the building of the Railroad, says:
Work upon the road is to be common
ced within thirty days after the above Sc
curities are executed and deposited. and the
whole contract to be completed within fiji
teen months from the time of such depos-
| tie. 1t only remains for the Company,
and Villages, to execute and deposit their
securities in the shortest possible time, to
of business and trade, and change the future
of our prospects from darkness so thick
that it can be felt, to the glorious light Of
unparalleled prosperity. We are aware
that there are those who oppose the issu
ing of any more Village Bonds for Rail
Road purposes, but it is fortunate for the
! Village, aud those persons themselves, that
they have not a controlling voice in the
Board.
Let US examine this matter carefully, and
see if it is not good policy, and even econ
omv to grant the aid asked of us. The an
nuaI tax of this Village amounts now, to
about $4,000. Suppose the assessed valu-
alton Of the Village property is 81, 100000
our tax then amounts to six mills on the
dollar. Without enumerating the benefits
to accrue to us by the early completion Of
! this road in controlling other roads, every
one IS aware that the completion of the NJ.
| 81 NJ. r r. would at least treble in value
| the present property ofour Village, to say
nothing of the vast increase and influx of
capital which is kept from here, because we
| have no road
Let us take the worst possible side of the
question. Suppose we have to pay the
whole of the principal and interest of the
! Bonds, without realizing anything for the
stock we get in return, it would only quad
ripple our annual tax for twenty years, with
a moral certainty ofincreasing the proper
| ty ten-fold, or even more.
What matters it, if our tax is increased
four fold, if our property to be taxed increa-
ses in the same ratio. But the probabili-
| ties are far more favorable. The stock this
Village will receive in exchange for its
Bonds amounts to about one seventh of the
entire stock in the road. 1t cannot com
mand less than fifty cents on the dollar,
while the dividends are sure to be ample
to meet the interest as fast as it becomes
due, in which case, in order to raise fund
to meet the balance of the principal, only
about $1,000 would be required to be rails
ed annually, in addition to our ordinary
tax.
Looking at this matter in any light we
please, can we afford to withhold the aid
required by this contract? Can we afford
to allow this opportunity to pass unimpro-
we'd With this road, the lower Fox River,
and the Green Bay road emanating from
one point forming three great outlets for
the immense manufactures Of Menasha and
Neenah, and the agricultural products of
Central and Western Wisconsin, all South
| Western, Western, and North Western
roads will be compelled to seek that point
for their own protection. Without this
road completed, or certainty Of its early
completion, much larger amount might
be required Of us, to control other roads
pointing this way to our advantage than Is
now asked Of us. But argument is per-
| haps unnecessary. We think it is, with
the great majority of our citizens. The
important subject now, is Time. The mat
ter should not be delayed. A months de-
lay, may defer the work a year.
The well known reputation of Mr.. Latl-
mer as a man of financial ability, OF ma
mense means and energy, is a sure guaran-
tee that what he puts his hands to must be
accomplished. Such an opportunity, so
full of hope and sure Of success, was never
before offered to the citizens of Menasha
and Manitowoc, and we believe they will
not let it pass unimproved. We have the
utmost confidence in the authorities of both
Villages, that in arranging the details, the
interests of the citizens and property hold
ers will be properl y guarded against an
improper disposition of our securities. We
have great confidence in the success of the
enterprise. Our present necessities must
inspire every one to act with promptness
and energy, while the experience of the
past is full of valuable lessons which will
serve TO guide us in the future.
ENCoURAGISq-We understand that At
a meeting of the Board of Trustees on
! Wednesday evening, a resolution was pass
ed offering a gift Of $4,000 in village
bonds, payable in equal proportions on
COHlpieCiOH Ol each I'VE llllIe> VI Tic Nall
road towards Menasha
GOVERNOR WISE AND THE SoSs OF NAL
TA.-The New York Uerald's special
Washington despatch of the 29th ult.,
states that Governor Wise is invited by the
Sons of Malta to deliver an address at the
grand tournament there this month. 1t
will doubtless be worthy of the occasion.
By the way, has the Order been yet or
gained Ill ManltuwoC. we know Of GOV
eral worthy candidates for initiation.
RECovERING.-We are happy to learn
that Mr.. JONI ROBINSON is slowly recov-
ering from his late severe indisposision