Sioux City register. [volume] (Sioux City, Iowa) 1858-1871, 1863-04-11
4 LETTER ON RAILROAD nat
TEKS.
New YoRH, March, ii. 1863.

aid to be informed that negotiations are
pending here for the extension, during the
present year, of the Dubuque and Sioux
City Railroad to Fort Dodge, or at least
to the Iowa River. have taken pains to
inform myself on this subject and am
satisfied that the negotiations viii be sue
cesstnl on the part of the company The
plan ofethe company is 5issue Bonds Sc.
cured on the extension of the road from
Cedar Falls to Fort n Jdge, and on such
portion of the lands, .dohated by tlie Fed.
eral and State Go~efDrnents, ax wIilnie
long TO the company as fast a every TWEEN
ty miles Of the iro I'd all hi ive be. n cohi :
plsted.s In addiaon to this, qit il, proposed
by the company TO dsvots ,sn agreed per
ceatage Of, the searhin ings 'of the aroad "
pay the iGterestl aecnuing from the bonds.
Ihis viii bs ssihaientoN MAKE the bonds
marketable at tqanaar!y Ispar. Offers, tor
these bends are algeaiy. made at ysry fair
hgpres, as not the stockholders here but
capitalists Laye more confidence now than
ever before jjpr the management of the
road, and in its Ultimate success as pay
ing enterprise.
This is not all the good news have to
send to our friends at Dubuque and in
the Cedar and Iowa Valleys.
There is every fair PROSPECT that tie
Cedar Fal,s and Minnesota road will Be
pushed Along also iurhg the ptesseent year.
To dfect'this every sesiraBle object, Ger
tain other" railroad banies have init
mstea a Willingness. to. guarantee the
bonds Of the road uorthward from Cedar
Falls. Il here Isl y ohsadersble portion Of
work done already On this. road, and if it
were only constructed, il wonld both pay
expenses and the interest on the amount
Of bonds which il viii be needed, to, sell
on which to raise the means for its con-
stsuction.. Aud i would, no. be long, be,
fore ito stock would be of some value.-
This is an enterprise whose success will
do more to, develop the resources and
stimulate the industry Of the Cedar Valley
than any other which has been suggested, -,
and which win do more to build up Du-
buque,, by Securing for it The i i'm mie,ise
trade Of the Cedar Valley than any enter
prise so far projected "= ..''5 'i '''' i
The estimation in which the Dub buade
aud Sioax City Road is held here, in .
tiaAnoial point of view, will be better un.
derstood from fact or two which will
state, than from anything else may say.
1t is Designed 10 take up the floating debt
OF the icpupapy, amounting ,to about $3.50,
600, 1.-TWO hundred aud eigLsy thousand
in round numbers. To effect this object,
it is proposed to issue bonds to the amount
of $3OO,Oo0, making these bonds mort
gage on that portion of the road already
constructed Bids for this loan have been
invited, aud it is known already that
large portion Of the amount, If not the
whole Of it, will be taken at premium.
What contrast this is to the estimation
in which this road was held but two years
ago, when it had not credit enough, even
snong its own stockholders, on which to
raise thousand dollars on any securities
it had TO offer. ..ra p, ..s.,-
These are gratifying facts, and the more
so, as they betoken a better opinion in the
minds Of eastern capitalists of our Iowa
enterprises, and of the prospective pros
perity Of our State" have listened with
peculiar pleasure to some of these cnpi.
talist who did not know who was, expa.
:iating On the brilliant future. that here
is before Dubuque ard the country con-
nected with It BY railroads They have
studied ouri advantages, better than we
ourselves have. and. they nov begin, to,
show their confidence in the essim alton
they have Of our resoutces and Of, our in
dustry anc entetprlse ", Developing, them.
III is V fbs regretted ltl,a. there is not
capital snougb at hon TO construct our,
railroads as IF there were, and il reald
be applied 70 that us, TIC, eftsLoth u,
dividends on stock apd, d,interast on ,bouds.
would be paid toiour Gown people instead
of'leaving N q State to enrich others. Buy
as this is not our fortune, We 1hast Be 'cob
tent to Let stasrs build our railroads md
other improvements Of utility, and let
them Rave Nh she profit, except that por
ton Of whiehl it's to agriculturalists to
make = market, for their produetions, to
merchants in 4 hs facilities railroads offer
TO transport their goods, and the comnh
Hty generally, for the various Incidental
advantages railroads nrt To- d country" A@
Another 'itpportbHt Stefn Of fAilfVAf fn7
r. mAt fv Fgx