The star of the north. [volume] (Bloomsburg, Pa.) 1849-1866, 1859-01-12


The West Branch and Susuue.
hanna Divisions, to West Branch
and Susquehanna Canal Compa-
ny, for 500, ,ooC
The Delaware Division, TO the
Delaware Division Canal Com
pany, of Pennsylvania, for 1,775, ,ooO
In all the sum of S3,s75, ,0OC
Upon investigation and inquiry, having
become satisfied that these sales were made
for fair prices, and upon such terms, and ia
such persons composing the various pur-
chasing associations, as TO insure the pay.
ment OF the purchase money; they were
severely approved
After the contract for the sale Of the Del
aware Division had been entered into, and
mr. consent had been verbally given, and
seyenty-ive thousand dollars of the pur.
chase money had been actually paid by The
purchasers, upon the faith of the contract,
and my assent thereto, was informed that
higher price had been offered, by respon.
sible persons, for the canal. But under the
circumstances, my opinion was that the
offer came too late; and as the Railroad
Company considered itself bound 10 con.
summate the agreement by delivery OF
the deed and possession of the property
| TO the first purchasers, | could not. in
good faith, withhold my assent. The
North Branch Canal Company, subsequent
to the purchase of that division, sold that
| portion of the canal lying between Wilkes
barre and Northumberland 10 the Wyoming
Canal Company for the sum of nine hun.
dred and eighty-ive thousand dollars.
On the 18th OF September, 1858, bonds o.
the various companies owning the different
canals, secured by mortgages, were, in pur.
suance OF the act, and By my approval, de.
posted with the State Treasurer 10 the
amount OF two millions of dollars; and the
mortgages on the canals given by the Sun
bury and Erie Railroad Company, were can.
celIed by the State Treasurer, and surren.
dered by me 10 the company in accordance
with the directions of the law. AT the same
time settlement was made between the
Commonwealth and the Railroad Company,
6y which the latter paid TO The State seventy.
hve per centum of the proceeds of the re.
sale over and above the contract price of
three and half millions. This amounted
TO two hundred and eighty one thousand
two hundred and fifty dollars, and was paid
IN the following manner, viz:
Bonds Of the Wyoming Canal
Company, secured by mortgage
on the canal from Wilkesbarre 10
Northumberland, payable in twen-
ty years with interest at six per
cert. payable semi-annually, 1881 900
Nash, $50
Total s2sl ,25o
lhese ponds are well secured, and the
accruinS interest and principal. when due,
will doubtless be promptly paid
From information of reliable character
recently communicated to me by the Pres.
ident OF the Sunbury and Erie Railroad Com
pany, 1t appears that the prospects of an
early completion of that great public high
way are very encouraging. A large amount
OF WORK mas been done on the line of the
road during the past season, and at this
time, very considerable portions of the road
are graded and rapidly approaching com.
pletlon. 1t is the opinion of the President
! 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 harbor of Erie.
When this great enterprise shall be con.
sumaled, and the desire of its friends finally
accomplished, the payment of the three
millions and half of mortgage bonds.
which the State has received in exchange
for the canals, will unquestonably be we'll
secured-whilst the railroad, itself, will
, prove OF incalculable advantage 10 our
great commercial emporium, as we'll as TO
the important. but long neglected, region
through which il passed lis construction
VIII undoubtedly add TO the value of the
real estate OF the Commonwealth mary
times It's cost, and develope and bring into
use lne rich resources OF country which
nave hitherto remained as they were lavish.
ly slrown by the hand of nature. have an
that. Al IA L.
danlly prove the wisdom of the measure
which, while II guaranteed the completion
| OF one of the greatest Improvements ever
projected in the Commonwealth, it, at the
same time, divorced the State from the un-
profitable and demoraiziug management of
i her railroads and canals.
Whatever differences of opinion may, at
any time, have been entertained in regard
TO the proprety Of the details of the legis
! lation authorizing the sale of the main line,
| or the branches, il can scarcely be doubted
that the public welfare will, in every
respect, be vastly promoted by the transfer
of the management of the public works
from the State to individual owners.
The short experience that we have had
already, proves conclusively that the Com
monweallh is greatly the gamer, in finan.
cial point OF view, and it has been equally
demonstrated that the people at large have
as well, if not better, accommodated, by
the change.
II would, in my judgment, be a public
: calamity, IT. by the happening of any con.
tingency, the Commonwealth should be
constrained 10 again become the owner, and
resume the management, OF any portion of
the public improvement.
The power of the General Assembly to
pass the Act of the 2lst of April, 1858, rela.
tive TO the sale of the Safe canals was ques
toned before the Supreme Court of the
! State, since the transfer OF the Canals; and,
after full argument, the Consti.ulionalily OF
the Act was sustained by the unanimous
judgment OF the Court.
Since the sale OF the public works, and
the settlement of the principal outstanding
claims against the State, it is obvious that
there is no further necessity for Board of
Canal Commissioners, or Canal Depart
ment. /, therefore, recommend the aboli-
tion of the Board, and that provision be-
made for the transfer of the records to the
Auditor General.
In view of the foregoing exhibit of our re-
sources and financial condition it is appar-
ent that most interesting era has been
reached in the history of the Commonwealth
Relieved from the entangling embarrass.
ments OF an extensive system of internal
Improvements, the means of the State are
| nntp ~, plo for al tauit,,oata n,r1ococ and