The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1861-06-19
lConlnltlt.icalea.
TilR Canal.

4ne canal
To satisfy the anxious and refute the
many false impressions entertained 10y stock
holders and others, as to the management
and disposal of the stock and revenue, we
propose TO make full and reliable statement
of the management of the funds, the inten-
tons of the managers, and the final disposal
Of the Canal. It is supposed, or at least
limited at by many, that the President of
the Board of Management received a large
salary for the laborious duties he has here
tofore performed, and is even now "grow-
ing fat " on the Iife-blood of this nearly de-
funct institution. But we can positively
assert that not one dime has ever been paid
the present incumbent for services render
cd. On the contrary, he has donated cash
freely and literally, besides employing much
of his time, and submitting to many losses,
for the purpose of advancing the interests of
the Canal, without ever asking or expecting
any compensation.
In October last, the Indebtedness of the
I company was over two thousand dollars,
( which was created by an act of the stock
holders; but by close management, tolls, wa
torrents, and stocks have been collected,
/ sufficient to reduce the Indebtedness to about
/ three hundred dollars, beside paying current
/ expenses and keeping the canal in re-
1 pair.
/ Some are disposed to consider it unjust to
! collect water rent aud the last instalment
] How Is this? 1t cannot be that stOckhold-
/ ers desire to repudiate their just debts. The
/ Board of Managers acted in the capacity oil
! agents, simply executing the plans of the
! stockholders.
As to the other members Of the board,
4 they have ali served gratuitously. But be-
/ cause certain individuals did not spend their
achoIe time and sink their private fortunes
in endeavoring to sustain this work, there
are those who paid the least, but the most
directly interested, that have ever been, and
yet are, foremost to cry "wOlE But let
US look at the facts.
The breakage occurred Just as the canal was
in navigable condition, thereby greatly
reducing the revenue from tolls and compell-
ing the managers to hold the stockholders
responsible for the full amount of their sub
scription. Thus all available funds are
employed to iquidate the old debt, so thai
when the canal was cut and the revenue di-
/
in their power to involve the tockholder:
above the amount Of stock due, the BoarC
knew but one alternative, viz: The aban.
Comment Of the work. The work has beer
abandoned, and the members of the BoarC
will offer their designations as soon as tht
balance of the Indebtedness can be discharg
ed. A responsible party is now negotiating
for that portion of the canal between Evans
vile and Fort Gibson. The party propose
to render the canal navigable, and, aide,
by the revenue, keep it in repair. Thos
using water from the CANAL irrespective Q
persons or arrangements with the presen
2 Board, will be required to pay their rem
promptly, so that the canal can be continu
f ally supplied with water.
We doubt not all those interested, an
knowing their wants, will at once com
forward to aid and assist in suppIyin
, them.