Muscatine weekly journal. [volume] (Muscatine, Iowa) 185?-1890, 1861-04-05
Correspondence Of the N. z. Timss.1
New Railways I'm Iowa.

Correspondence Of the N. Z. Timss.]
New Railways I'm Iowa.
Extensive railroad enterprises are now
being pushed forward in Iowa and Mime !
soto, with view of opening up the rich
lands and developing the vast resources in
those States. The Dubuque and Sioux City
Railroad, connecting with the Illinois Cen
trail and Galena and Chicago Union Roads,
will soon be completed to Cedar Falls, in
Iowa. At this point, the Cedar Falls and
Minnesota Railroad, from Cedar Falls to the
State line of Minnesota, is under contract to
Erastus Edgarton & Co., of New York, for
the sum of 81 ,025, 600. This road is seventy.
five miles long, traverses the course Of the
Cedar river, which cuts through one Of the
richest valleys in the State and terminates at
Otranto, at the State line of Minnesota, there
connecting with the "Oedar Valley and Min
nespolis' Road 108 miles), extending to
St. Paul. Already the grading on the Cedar
Falls and Minnesota Road has been COM
pleted to Waverly, distance of fifteen miles,
and a substantial bridge, spanning the Cedar
river at that point, is nearly finished. So
level is the tract of country through which
this road passes that not cut or filling OF
more than ten feet will be required. The
company pays the contractors in the follow
ing manner: 5000, 900 of the first mortgage
per cent. bonds, $4,000 Mitchell county
10 per cent bonds, $1,000 Floyd county 10
per cent. bonds, $50, 700 in lands decided
along the line of the road, 500, 900 in cash,
and $l75 900 in stock and subscriptions to
stock-in al 81, 025,0 900. The company are
to issue $650,0OO of irst-mortgage 7 per cent
bonds, $4,000 Of which is for their own
account. This will make q bonded debt of
about $500 per mile. Seeing tho great
Importance of this road, and the increased
amount Of traffic that must result from it,
the Illinois Central, Galena and Chicago
Union, and the Dubuque and Sioux City
Roads have generously come forward and
bound themselves to create q sinking fund
for the cancellation of these bonds, by pay
ing to the trustees of the company bonds
referred to (for five years. Is per cent. OF
all the gross earnings from business passing
to and from all points upon the Cedar Falls
and Minnesota Railroad over the roads OIL
the above. named companies. This will give
these bonds an increased value and make
them safe investment.
Iowa, next to Illinois, is destined to be one
of the most productive States in the far West
Her rich and undulating lands, her vas
water power and extensive mineral resources
lare already we'll known to the people of THU
country, and are being rapidly developed
Not least among the inducements to immi
grants held out by Iowa, is an excellen
climate.
The Cedar Valley and Minnesota Road il
graded sixty five miles, and ready for tn
iron. This road has passed into the hands
of the State of Minnesota, and the work ha
been suspended for some time. Strong in
ducements are now offered to any REASONABLE
parties who will come forward and resum
and finish the work
The completion of these enterprises viii
secure to New York an unbroken chain o.
railroad to St. Paul, in Minnesota. E.
A SECESSION ITEM.-Mr Mark Miller, tn
editor and proprietor Of the NorthUester,
J Farmer, in this city, informs us that, within
the past month, he has received not less thai
forty subscribers from the State Of Georgia
the first, in fact, he has ever had from tina
portion of the country. Nearly all of tn
letters accompanying the subscriptions sa,
the writer's are anxious to obtain information
in regard to the agricultural resources of thi
State, evidently with a view of removing
hither. Some of them state that the emigration
from the Gulf States to the North West
during the coming season, will be UNUSUAL,
large. Mr.. Miller has also received severa
letters, recently, from South Carolina, on tn
same subject. This, as an indication of wha
we may expect in the way of immigration
and the prevailing sentiment among the bette
class in the South, is a very important bit o
information. 1t is something tangible; Their
is no guess work or hypothesis aboutit. Tn
inhabitants of the seeding States are man,
Of them really about to leave there for quiete
localities This we may depend upon, unles
their Government should throw obstacles il
the way of their departure. Dubuque Times
|
/ w The following language was from tn
mouth of the late Alexander Hamilton, on hi
resignation Of the office of Secretary of tn
Treasury, in 1895. Holding in mis- hand
small book, containing copy of the Fedora
Constitution, he said:
snow, mark my words So long as w
are young and virtuous people, this instru
ment will bind us together in mutual interest
mutual welfare and mutual happiness, but
when we become old and corrupt, 1t will bine
US no Longer"
The Charleston Mercury is afraid thu
middle free States will want to Join thu
Southern Confederacy, and spoil all it:
schemes of free and direct trade. 1t says:
"There is but one solitary stumbling block
in the way of direct trade. A reconstruction
of the slave States, with any of the Northern
fire., importing States, will at once, in oul
judgment. strike direct trace to the ground
New York has the track. Size has the accu.
mulated capital, and she has the custom
Nor can any possible efforts at the South
divert her trade from her, except through the
operation of two distinct nationalities. This
i L. L.. L.