Glasgow weekly times. (Glasgow, Mo.) 1848-1861, 1859-02-17
Report of the Beard d, Public Works.
To, Hs Ercsllfney Rcnrnr NJ. STEWART,
"a q Governor Of Missouri

10, Hts Ercsiitncy RcnERT NJ. STEWART,
70 Is Governor Of Missouri
Sin: In obedience 10 he law creating III,
Board Of Pablo Works, we submit the FOL
lowing rep"rt:
There are SIX Railroads in Missouri, il
process o. construction, which have receiv.
ed The aid ofthe~Stafe, viz: The Pacific
the South West Branch, the St. Louis and
firuns Mountain, the North Missouri, The
Hannibal and 81. Jnseph, and the Cairo anc
Fulton. The aggregate length Of thess
roads is eleven -hundrediand seveniy-ihres
miles. The aggregate track laid is about
six hundred and !nurteen miles. The max
imum grade dues not exceed slxly-fve Ieet
on any OF them, except the Hannibal and
ST. Joseph Road; and there is no res>oh
which this. Board can nav appreciate, why
the grades Oh this road should exceed those
on the Pacific or South West Branch The
stock subscribed by counties, cities and in
i.dividuals, is twelve millions four thousand
eight hundred and seventy five dollars
The amount Of subscriptions paid in cash,
is seven millions eighly-lour thousand three
hundred and thiriy-seven dollars and ten
cents. or this sum six millions six hum
bred and thirty thousand eight hundred and
eight dollars and eighiy-two cents have been
paid by the Pacific, North Missouri, and
St. Louis and Iron Mountain Companies;
the South West Branch, The Hannibal and
St. Joseph, and Cairo and Fulton Cumpan-
les depending mainly on their lands and
Stale bonds Tor means with which 10 COLI
struct these roads The Whole amount Of
State credit now authorized is twenty-iour
millions nine hundred and fifty thousand
dollars. The amount issued 10 the several
companies is nineteen millions tiiy-six ;hou-
sand dollars. The aggregate discount on
bonds seld is two millions seven hundred
and seventy-six thousand five hundred and
sixty. six dollars and eighiy-seven CENTS
The proceeds Of bonds sold by the compan-
les amount 10 sixteen millions one hundred
and lightweight thousand four hundred and
thirty-three dollars and thirteen cenls.-
Bonds recently issued 10 the Caro- and Full
ton Company, amounting 10 .eveniy-thon.
sand dollars, are not yet reported as said,
and Iweniy-one thousand are reported by
The North Missouri Company in The hands
of their fiscal agent. The amounts nnw due
and 10 become due the several companies,
The first day of March. 1859, are aslolIows:
To the Pacific, main line, Two hundred and
twenty thousand; 10 The North Missouri,
one million one hundred and fifty thousand;
10 The ST. Louis and Iron Mountain Com
pany, three hundred and twenty. four thou
sand; 10 the Cairo and Fulton Company
four hundred thousand dollar; TO the Platte
Country Company, seven hundred thousand
dollars; and 10 The South. West Branch, guar
an'eed by the State, three millions one hum
dred thousand; making five millions eight
hundred and nineiy-i0ur thousand yet 10
be issued under existing laws. The annual
interest 10 be paid on The amount Of bonds
now issued to Companies, is one million one
hundred and forty Ihree thousand thr ee hun
dred and sixty dollars. All The companies
are understood 10 have applied State bonds,
or their proceeds, in some degree, TO The
payment Of interest on State bonds; their
receipts go into a common fund, and pay
ments of interest and other demands are
made from il unfortunately. The North
Missouri and 81. Louis and Iron Mountain
Companies both failed 10 pay the serni-an-
nual interest, due the first OF January, 1859.
OIL the Stale bonds issued 10 them TOR the
construction OF their. roads, This presents
a new feature in the progress OF the system
and iwili. IN connection with other great and
complicated interests involved in our raIi-
road enterprises require from the repre-.
sent lives OF the people the mos, paiien,
and thorough consideration. Much OF the
embarrassment which now surrounds the
system, is, To doubt, attributable TO mex
perience and erroneous ideas in regard 10
locations and coniracfs. A large amount OF
money has been absorbed in these errors,
probably sum sufficient TO open several Of
the roads 10 The points where they are in
tended 10 terminate
Considering The intrinsic value OF orr Sc.
cnri,ies, too large an amount OF the means
granted 10 the roads has also been absorbed
IN discounts, commissions, exchange and in
teresi. The adoption of wiser plan in
the beginning, in regard 10 the management
OF The Stale aud other SECURES, would, no
doubt, have saved much for the construct
Ion of the roads, that has passed into these
accounts.
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