New-York daily tribune., 1861-02-18

The me- Sns 20 pay there debs have been acquired ~
Payr n on the ecrip and full paid shares, and from
tb Sssnngs Of the road. On the lat Of January there
we've $lJ 253 800 Of bonds due in 1875, 1892 600 due in
1868 and &C. 740 due at other periods in ALL 5672 2iO
The capital stock subscribed is in SO j2l scrip shares Of
$50, and 1888 shares full paid-$lj,9 ,9Jj $50. The
latter bear interest at v cent, TO the payment of
which the proceeds of the Free Lands, valued at
$5OOO,OOO, are pledged. The right to subscribe to
lO0s6 more shares previous TO 1864 was granted in
consideration o. cash subscriptions to shares at par
The proposition was made in order to reevs the Com
pany from floating debt. The Directors have since re-
sricted themselves from any further ssues Of shares
without the consent of majority OF the shareholders
The President remarks: "The embarrassments
which formerly attended the development Of hs enter
prise arose from the fact that it was impossible TO exc
cute the original plan of building 200 miles Of railway
through unsettled country tog less than the eoe Of
other safe roads and this primary difficulty was sDgu-
rly aggravated by the failure Of three successive har
vests. Our earnings from local traffic have for three
years steadily increased This year the profit Of work.
ing the road will probably ercesd tour v cent its
cost. With TWO more good harvcets the road, with
prudent management, will stand by the side Of other
railways as permanent dividend-paying property,
without the aid Of the lands"
In regard to The important feature OF ths enterprise
of the Land Department, The report says:
LANDED PROTERTTt ten years since the act Of Congress
conferred upon the State Of Illinois the giant o lands In 59l
Ml Robert Rsntou with naked ability presented to his
directors and the public sewf the effect nponthe population
the consequent advance the value Of property Mr. Ranioa
predicted that the census Of 1890 would show over VV
population in Illinois, and that lands, in twelve to fourteen
s, WS[a m az me IN ,bt ins. counted
Al
1000 square miles IN the center OF the stae nearly deste Of
population up~ II Of of land n the
State for by the Government IS 2 acre
Al later day the directors had TO contend with peuds-s In
f.,d 10 the OF the prairie country and the geneIs
y.ton that the Go,enmtut lands In Illinois and tne States
pI,yent any prairie lands destitute of fuel reaching such
sitmyassnt values. Ihe gres cIen Of tho ,nds Of the
North Western Territory apparently the strongest argument
which time alone could The Illinois prairie, have proved
% be perfectly heshy and Of wood ample
and bss Uncovered Practically the mt Of available land for
agricultural pnpo..s Ih2c elevated arid regions dry n sum
snd cold In Winter are too mean the great desert o o'
perpetual dOuh 1be and mesoIoosic
the m and zd parallels has been reached and that tue bn
outpouls o the Eastern ses will settle upon the lands Of
uncertain In the States north Of theie and 'ey season isfn
do from honesoa and Wisconsin TO the mdei aud
continS slave states. the iand,n those states will
compete with lands Of ilos and th. State viii stare y re-
tueky absorbing the .ya,on aud the value Of snd viii IN
crease In di eIso with The gain IN population eeh,a
l3 shows 7zyoJO popuaiioH in inois Nearly onetbd OF
the entire gain IA population Of the six North Western states
within the As ten yeas 10 hin her borders The value OF
land lpcd IN these yearbs tide OF emigration 10
Illinois constant and with so q added 20 the popu
lation demonstrated land will double In value
Hence infer that the n'od half Of lands VIII during the
years, command nearly double the amount realized for
the first half and 10 secure this would sus't the policy Of
gradually Advancing the price without however resrvisg
single from sale Ansr detuctng upward Of one million Of
dollars Of sale, made IN ass upon which parties have failed q
respond their GugaIsmens net sales are l2oOEj f-o
acre., Of az C7 y scIe-S y5 jaO or this
upp ard Of IS 4 cent ~ 9 J98 have been col
,crd cash The Of s2 81 includes the earlier sales
Al six TO nine dos Every sold Tor settlement adds
20 the value Of the r.mAndT and estimate the Ultimate pro
eeeds Of lands a. follows.
60 21J Of IL sl3 20 $50