The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1862-03-22

pose Of having grain purchased at that point
and, ~ Rock River is not nayigablr, the
grain there purchased would all be trans.
ported a. Chicago, while, If 1t came on o.
Rock Island one half Of il would probably
find it, way down the river 10 ~. Louis. By
that change the road would avoid keeping up
the expensive bridges over Rock River and
the necessity # sending Two trains for coal,
one 10 the Henry county mines and the other
10 Coal Valley, ~ one locomotive could trans.
. port all the coal by way of Colona to Rock
/ Island aud Port Byron,
/ II is not supposed that the Chicago 4 Rock
Island X, X, Co.. have ever contemplated such
M event, but It the road cannot be made 20
pay as it j., n glance Mt the map would con
vince any one that 1t would be their true pol
icy 10 buy II NJ such II price rs It would prob,
ably command under such circumstances
aud when bought To make the change sug.
gcstcd or take up all the iron and bridge,
Tor use elsewhere.
PLAN FOR CONSOLIDATING AND PRE-.
SERVING ALL INTERESTS
Whenever the bundhulders shall sell the
road under the mortgage, the money invested
by the city, by the private stockholders and
the member, Of the Coal Valley Mining Co,
will Doc lost, and unless some adjustment Of
the matter can be- made there Is no hope Of
anything being realized therefor. The bond.
holders mostly reside IN the east, aud seem %
have no disposition 10 sci! the road If il can
be- avoided, aud NJ til" same time seem will
ing, If'uot anxious, % give fair protection to
every iutcres' involved.
Some uf the heaviest buudhpllcrs have in,
Dictated willingness. 10 accept u less rate Of
interest than the bond. now draw, or even 10
release the mortgage and take n preferred
stock in the road Ia lieu thereof If, thereby
the various interests can be preserved and
harmoui1cd Under the latter proposition
the city aud private stockholders would re.
tain their present stock, aud the general cred.
iturs Of the road would have to accept com.
mon stock in the road IN lieu Of their claims
Should any refuse 10 do So the road would
be sold under the mortgage, and stock issued
o. the various parties 10 carry cut the ar.
rangcmcut
The stock uf the company would then con
slsl Of $500 UnU-uuc hall Of which would be-
p,cjcrrri stuck aud entitled tu the first earn.
/ ings until the rate per cent agreed upon was
made up, and the excess, II any, would be
/ divided among the common stockholders. --
. The motive of the hunihodcrs in making
/ such an arrangement, instead of buying in
the road ut their own sale under the mOrtg-
age aud thus depriylns the other parties OF
all hope OF any return for their investment,
would be manly,to cuuciliatc the city aud 80.
cure her good will, and the good will and co
operation 81 all the partio, who have invest.
ed their money IN this most unfortunate en-.
tcrprsr, All the debts Of the road would
thus be- provided for, and under the most in.
aU, piciuus circumstances it would not again
be- encountered with debt Should con.
y Meeting road ever H." the track, such road
could well afford tp pay xix per cent on Slao
600, therefor, and aS the coal business would
probably lee sufficient to pay the preferred
Stockholders their dividends, the common
stock would then become a six per cent stock
Should the bridg" over the Mississippi river
make this q railroad centre, H. was auticipat.
cd when it was built, and two or more roads
use this track, the common stock would be-
come a par stock aud all would feel that our
heavy burdrn, had not been borne in vain.
CONNECTING ROADS
II may be said that there is no prospect ui
getting another road, but il should be rcmcm
bcrcd that even the Warsaw Il Rockford road
is "not Yet dead, but slecpeth,' and al
though it has thus far proven IL disastrous
failure As the Rock Island 4 Peoria railroad
yet on the return Of prosperity to the country
) we may at least hope for its completion. Tina
road could better afford to pay six per cen
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sum.
I, -I,.,,lI l., r,,,,.p,Inr,I - 81 ,,l
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