Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1861-01-18
WATERFOWL, WIS, FRIDAY JANUARY IS, 1861

everywhere, may take a just pride in its
prosperity. The report of the Board of
of Managers, exibits fully its condition
and wants, and together with the closing
report of the Building Commissioners,
shows tie economy Of the erection and
completion of the buildings, and its
management since it has been opened.
The State Prison has been admirably
enaged by the Commissioner. | invite
your attention to his report, showing the
condition of the prison and the prisoners.
His suggestions are practical, and deserve
your favorable consideration.
ADJUTANr GENERALS REPORT
Tie annual report OF the Adiutant Gen
eral, shows that ffty-two uniformed, vol
unteer companies of efficiency, numbering
1892. rank and file. Besides these COM
panies, twelve Others. in different portions
of the State, have applied for organization
and equipment. SIouII the last mention
ed companies be regularly equipped with
the legal number of arms, the total num-
ber would b. 2473 But the State has
not the means to arm more than three or
four OF the companies applying, and the
annual quota, to which the State is enti-
tied under the practice Of the Federal Gov
erment of late years, viii only give us
sufficient for about three companies more
Efforts have been made during tie past
year, by the Adjutant General, to bring
the uniformed militia up to a standard of
greater efficiency and with some degree of
success; but the fact is nevertheless ap-
parent, that the organization Of military
companies has been too often the result Of
the desire of localities to obtain the means
of making display on anniversary oc
casions and when the arms have been OBJ
tanned from the State, the object Of the
organization is too often deemed accom-
plished, and the company seldom meets
COR drill thereafter The men resign after
a time, and the company Glaintains but a
nominal existence. Il is for the legisla-
ture to consider whetherthis state OF things
ought to continue, and whether there is
anything in the signs of the times which
should cause steps to be taken to place the
volunteer militia upon a more efficient
footing The number Of persons subject
to military duty in the State exceeds 1870,
900.
GEOLOGICAL SURVEY.
A brief Report by the Superintendent
OF the Geological Survey, Prof. Hall, is in
readiness to be laid before you, exhibit
ing tie condition and progress Of the
work. Under tie law Of last winter,
special contracts were made with Prof. J.
D. Whitney, and Prof. G. 7. Whit,lesey;
the former for the completion Of sectional
maps of the leadbearing region of this
State. and the latter for the completion
and report Of his work, which was chiefly
carried on in the extreme northeastern
and northwestern portions of the State.
The Report AMI Maps Of Prof, Whitney,
and the Report of Prof, Whittfessy, are
completed, and will be placed at the dis
posal of the Legislature at an early day
Prof Hall expects to be in Madison early
10 the session of the Legislature. and will
present the condition Of the work at that
time.
RAILROADS, ETC,
Stockholders, and individuls whose
money has been honestly invested in rail
roads, have right to some further pro-
lection and security by law. The early
stockholders and men Of comparatively
small means, furnish the basis of all the
subsequent credit OF The company, and
are always the first men plundered, and
the last men secured, by the public
spirited, seif-devoted, patriotic railroad
operators. If the acts Of interpretations
are public acts, as they declare themselves
to be, and if the proceedings Of Boards of
Directors are public, and their records
public, as to all per ons dealing with the
company, then tie interests and rights of
the original stockholders are noticed to
the world, and any trade or contract made,
or fraud committed, by tie directors or
agents Of the company, cannot diyest the
stockholders Of sheir rights in the road,
without their expressed consent. Their
money is in the roads, and tkey ought to
have an equitable lien and right to fol-
low their money into the roads themselves
The railroads should be m de to pay the
money that built them, and the laws ought
to create in all corporations first lien for
the benefit and security Of the original
stockholders. While the Legislature can
not create an equitable right, yet where
such light eXi, IS the Legislature has
the power to provide process or remedy,
by which thal right may be secured.
A large and respectable class Of our
citizens have become involved in serious
dificultie-, which, in all cases, either
have led, or will lead, to great losses, and
in many cases to absolute ruin. There is
class of securities called Railroad Farm
Mortgages, which are hanging over some
of the best farms and are embarrassing a
great many Of the best men in the State;
the aggregate amount of these mortgages
is estimated about FIVE millions Of dollars.
They cover lands valued at least at fifteen
millions of dollars. B4tween FIVE and
six thousand men are involved in these
peculiar liabilities. They were executed
upon the pretence that they were to be
used as collateral security for loans Of
money made by the railroad companies.
They We're conceived in fraud, executed
in fraud. by the directors. or agents, Of
some of these companies. While some of
the directors and agents. were innocent of
these deceptons upon the farmers, the
man who ,onfrolIad tbaSa 6nanaial Or,era-