Glasgow weekly times. (Glasgow, Mo.) 1848-1861, 1859-01-06

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j from st. Louis --and has been in, operation
since eaApril 12ih; but owing to the genera
prostration of business, and the consequent.
ly limited demand for the great staple,
(irun and lumber of the region it pene.
trates, not more than half the, business ha.
been done upon it that was iustly aniici pa.
ted. The result of these causes {the re.
straining Act and the limited busiIess done
is, there is now, as i am informed by The
President of, the Company, an outstanding
debt for construction, and the Company
viii fail TO pay the interest due on the st
of January on the bonds issued inlits favor
But il is slated by lis officers that the bonds
now withheld, will, when issued, enable the
company TO pay the debt'due for construct
ion, and thus relieve il from its embarrass-
ment, and that it will soon then be able 10
reimburse the amount 10 be paid by the
State. 7 '.n - H1e3Ia-c :. 5. 's'-.a' -
With the increase Of business that will
result from more prosperous times, and in
creased facilities for the manufacture Of
iron, nearly all descriptions of which St.
Louis will soon be enabled to furnish and
which it may and viii shortly supply TO a
wide extert Of country, together with the
tribute OF the extensive pineries 10 the'bus-
mess Of the road, it may be confidently an
ticip.ted that a high degree CT pros perity
awaits its future operations. No long Pc
riod will elapse before this road win Be ex-
tended TO meet navigation below the ice re-
sion, and to connect with the great Chains
of railroad extending South and South
when it must necessarily becume one Of
The great routes of travel North and South.
1t will also extend commercial facilities
TO the Southeastern portion Of the State,
which, instead Of being swamp region, as
has been supposed, has a soil of unsurpass-
ed fertility, and is one of the finest agricul-
lural districts in the United States. I see
nothing in the temporary embarrassment Of
TINS road to warrant any apprehension fer
the future. 15fa2- - 80 ---' ..1
The Cairo and Fulton Railroad Com pany
as you will learn from the Board Of Public
Works, is in excellent financial condition.
The length of that road in this State is
about n miles. The means of the company
consist of ever 5705G0 acres Of land, val.
ued ct not less Than So per acre; individual
subscription amounting to S;S42,775 and
State aid to the amount CT $650,O0 The
proceeds Of these lands, when they are
brought into market, will, it is believed, de-
fray the entire cost OF the road. No fears
need be entertained in regard to the pay
inent, BY this company, ct the interest ac.
cruing on the bonds issued By the State, or
Of their ultimate redemption. The Company
has authorized the Issue of lands bonds
amounting to 81 100000, bearing seven
per cent. interest, payable in 1862, The pay
rnent Of which is secured by deed oftrust
on its lands. On December lst $4,000
of the State bonds issued TO the company
were on hand, and an une1pended balance
of over $26,000 Of the proceeds of the
bonds already suld. At TIE same period
the company had expended from its resour-
ces other than State bonds, about $267 ,000
Twenty FIVE miles of the route are under
contract, and the way cleared out. Upon
the first thirteen miles from Birds Point,
opposite Cairo, 10 Charleston, very heavy
work, composed Of high enbankments, pile
bridging and trestle work, the rails are be-
ing laid, and the road is expected TO be
completed that distance the first week in
january.
In view Of these failures on the part Of
the Iron Mountain and North Missouri
Railroad companies TO meet the interest on
the State bonds, in accordance with the
conditions upon which they were issued, q
question al once arises in regard TO the dis !
position that shall be made oil said roads
Under existing laws The Governor is au-
thorized, in case any railroad company to
which State bonds have been issued, makes
default Of the payment of, principal or in
terest thereon, 10 sell the road and its. ap-
purtenances al public auction 10 the highest
bidder, upon notice being given as required
BY law; and lie may, at such sale, buy in
said road for the State. ..,..L o..
In the event of such default or purchase
by the State, there is no provision made Tor
the disposition or management of said roads.
1t is therefore suggested that the Geaeral
Assembly make such provisions Us may, be
deemed necessary 10 have the roads opera
ted to advantage until they can be sold, if
such course shall be determined rpon, or
becomes absolutely necessary; and also di-
rect in what manner sale shall be made,
should they become the properly of the
State al any sale the the Governor. is au-
TO make under existing laws. ,-.-
Either a lease of the roads, or their man.
agement BY the State through Superin;en-
dent or Commissioner, unit sale can be
effected, has been suggested. One or the
other must necessarily be resorted TO, or
Ihe roads be allowed, under The circurnstan<
ces contels plased, to lie idle and unproducI
live. 70 run them under. superintendent
cy subject TO the supervision OF the Board
Di Public Works, seems 10 be preferable. If |.
leased al all it would, OF cnufse, be tenn
porary expedient. to be eoplinped only until
IN advantageous sale coi,ii be. made; and
he shortness of the time would .indacs
such exacting- terms on, the part Of The les
see, as would in the end, Qhe probable in
Jury to The road being considered ) afford
no equivalent for The use Of the roads. Z
Y ,