The Bedford gazette. [volume] (Bedford, Pa.) 1805-current, 1862-01-17

ed by me-
Ii is understood that arrangements have at
last been made under which tile direct railroad
connection between Philadelphia and Erle will
be completed within a short time. II is impos-
| sible to estimate too highly the importance of
this great work to the Commonwealth, and es-
oecialy TO Philadelphia and Erie and the hlih-
erto neglected counties near its route west OF
the Susquehanna. :
BY the ac. OF the 2lst April, 1858, for the
sale OF the State canals 10 the Sonburv and Erie
railroad company 1t was provided that ii that
company should sell sand canals for greater
sum in the aggregate than three and half mil
lions of dollars, seventy-fve per centum OF such
excess should be paid 10 the Commonwealth by
a transfer of SO much oil such bonds and securl-
ties as such company shou!d receive for the same
and payable in like manner
The company sold The canals and reported
that the share of the profit on such SAKE, due to
the Commonwealth was 1921 $50 OF which
$3.50 was paid in cash and for the remaining
| $2S 900 the Commonwealth received coupon
bonds oil the Wyoming canal company to tha.
| amount, being portion of bonds for $500, 900
issued by that company and secured by mort
gage OF The Wyoming canal, formerly called the
| Lower North Branch canal. These bonds bear
an interest OF six per cent. per annum, payable
semi-annualy on the 18th OF January and July,
and the interest was paic by the company to
January last inclusive. The interest due in
July last has not been paid. Judgments having
! been obtained against the company on some of
the coupons for the unpaid july interest, bill
IN equity was filed ia the Supreme Court by
bond and stock holder in which such proceed
| ings were had that by decree made on the I'd
September last the property and affairs Of the
company were placed in the hands of a receiver
| A plan has been suggested for the assent of
the stock and bond holders which contemplaes
sale of the canal under lawful process and a
| purchase Of the same for the purpose ol forming
new company, of which the capital stock shall
be one million OF dollars, divided into twenty
thousand shares of fifty dollars each, OF which
each asserting holder OF mortgage bono for
one thousand dollars shall be entitled 10 eighteen
shares, and each assentiog holder OF fifty shares
of stock of the Wyoming canal company shall
be entitled 10 nne shares. Of course no officer
of the Commonwealth had authority to assent 10
the proposal Of in any way 10 affect tirr posionf
Ii IS believed also that the plan is not one that
ought to be assented TO by the Commonwealth,
and that under all the circumstances, il the con-
venence of individual parties requires change
such as proposed, the debt due TO the Common.
wealth ought to be first paid or fully secured.
suggest that the Act passed Sth of April,
1861, entitled can Ac. concerning the sale OF
railroads, canals, &c.," should be modified SO
that in all cases in which debt may be due 10
the Commonwealth by the company as whose
property public work may be sold, the pur-
cbssers thereof shall not be entitled to the bene-
fits and privileges conferred by the Act unless
they shall have first paid the debt due to the
State, or secured the same by their bonds 10 the
Common nwealth secured by a first mortgage on
the work itsell.
l commend the subject TO the immediate con-
sideratioa of the Legislature. as an effort may
be made at an eai lv day 10 enforce sale OF the
canal, and some provision by law to protect the
interests of the State would in that case be ne
cessary.
The wicked and monsrous rebellion which
broke out many months ago, has not yet been
quelled. Every sentiment OF loyalty and pa
tlio,ism demands Its efectual suppression.
In nv messages OF the 9th and Both OF April
last, set forth at length my views OF the char
acter and objects of the contest which is still
pending. Subsequent reflection has confirmed
me IN the correctness OF the opinions then ex-
pressed and to which [ refer. In addition it
ought to be understood, that looking to the va
riety aud character of her products and indus
trv. her material interest alone would render tae
preservation of The Unlon from the present as
sault upon it. indispensable to Pennsylvania.
She cannot afford to have foreign power below
or above or bounding her on the Delaware, the
Chesaoeake or the Mississippi, and she will new
er acquiesce in such result, whatever may be
I.I nj hpr
it.
On the 9th of April last directed the atten-
. ton of the Legislature to the necessity which
r existed for an improved military organlzatiop,
and on the 18th of the same month the Ac. en-
titled San Act for the better organization OF Inc
: militia of this Commonwealth" passed, appro-
4 priating the sum oil $500,000 for the purpose o.
organizing, equipplng aud arming the militia
e On the 18Th OF April the President, by procla,
: nation, called for military force OF 73,0oC
1 men, OF which the quota assigned to PennSy Iva
: MIA was at first sixteen afterwards reduced tt
II fourteen regiments to serve as infantry or rltie
II men tor the term oil three months unless sooner
: discharged? This call was enthusiastically re-
r sponded 10 by the people oil Pennsylvania. Int
# first military aid from the loyal States, which
n the Government received at Washington, was q
: PENNSYLVANIA corps which arrived there prior tt
i the 18th of April. On that day The passage ol
4 other CORPS from this and other States throrst
G Baltimore was impeded by force and during
l. nearly Two weeks afterwards the communcatiof
n between Washington and the loyal States wa
d almost entirely cut off. On the 18th received
10 a request from the War Department that th'
l. troops preparing in this State should be clothed
ID armed, equipped, sabssted and transported bJ
:, the State in consequences of the then inability
i. the United States. This request was oi cours
a. complied with, and twenty-five regiments, (be