Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1859-01-12


's'
prooerty to the first urchasers, | could
not, in good faith, withhold my assent
The North Branch Canal Company, subsc,
quent to the purchase of that division sold
that portion Of the canal lying between
Wilkesblrrc and Northumberland to the
Wyoming Canal Company for the sum Of
nine hundred and eighty five thousand
dollars.
On the 18th of September, 1858, bonds
OF the various companies owning the diff,
ierent canals, secured 10y mortgages. were,
IN pursuance of the act, and by my appro.
val, deposited with the State Treasurer to
the amount oitwo millions ofdollars and
the mortgages on the canals given by the
Sunbury and Eric RailroadC COMPANY. were
cancelled by the State Treasurer and sur.
rendered by me to the company i'm accor-
dancewith the directions of the law. At
the same time a settlement was made be-
tween the Commonwealth and Railroad
Company, by which the latter paid to the
state scycnty~hye per Ccntum of the pro-
ceedS ot the resale over and above the
contract price Of three and halfmilions.
This amounted to two hundred and cigh.
ty one thousand two hundred aud fifty
collars, and was paid in the following
manner, viz;
Bonds Of the Wyoming
Canal Company secured
toy mOr,gag on the canal
from WiIkesLauc toNorth-
cumberland. payable in 20
years, with interest at six
per ccnt.payaJlc semi-an-
nuolly, S4Sl 900
Cash, gjO
Total S2Sl.2jO
These bonds are well secured, and the
occruug interest and principal, when due,
vii, dou,css be promptly paid.
From Information Of vreliable character
recently communicated to me 10y the Pro.
slhcnt Of the Sudbury & Erie Railroad
Company, it appears that the prospects of
an early completion OF that great public
highway are very encouraging. A large
a lount Of work has been zone on the me
OF the road during the past seasun, and at
this time, very considerable portions Of the
road are graded and rapidly approaching
completion. it is the opinion OF the Pres
ident of the company that, within two
years, the work will be entirely finished,
so that cars will be running directly from
the city Of Philadelphia to the halbor of
Erie.
When this great enterprise shall be con-
summated, and the desire Of its friends fl
rally accomplished, the payment of the
three millions and half of mortgage
bonds, which the State has received in ex-
change for the canals, will unquesionably
be well secured-wh.lst the railroad itself,
will prove of incalculable advantage to our
great commercial emporium, as well as to
the important, but long neglected. region
through which it passes. Its construction
will undoubtedly add to the value of the
real estate o. the Commonwealth, many
times its cost, and develope and bring into
use the rich resources Of a country which
have hitherto remained as they were Law
ishly strown by the hand of nature.
have an abiding confidence that the result
will abundantly prove the wisdom of the
measure, which, while it guaranteed the
completion OF one of the greatest inn
proyements ever projected in the Com
monweath, 1t at the same time, divorced
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