The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1866-04-21


said meeting, were invited TO participate in
she discussion Of any and oil questions thai
might come before the meeting. -
On motion, committse Of three wsrs ap.
pointed BY the chair, 70 prepare business and
present the Same to the meeting, for it's con-
liberation. Tho chair appointed Msssrs.
bietenbanner, Gould and Bennett
The meeting then adjourned for one half
hour.
At o'clock P. NJ, the board met pursuant
to adjournment.
Tho committee appointed to prepare bust
ness, requested Q statement from 2. Il. Cable,
Esq, OF Rock Island, in reference TO any
proposition he might wish to make for the
extension of the Rock Island and Peoria rail.
road from Coal Valley to Galva. Mr.. Gable
being present addressed the meeting at
length upon the situation and condition of
said company. Mr.. Cable then submitted
tho following proposition
That for twelve thousand dollars per an
mum, he would procure and give such new
railroad company, az might construct rail-
road from Rock Island to Gaiva, perfect
title to 90 much of the r. l. & p. X. X. as is
now completed, the Coal Valley Mining 20.
having the right to transport 50,OOO tons OF
coal per annum over the road with its own
motive power and rolling stock, on the time
table Of the new company, tree OF charge
And he further proposed. that if that annual
payment was considered too large, he would
submit to disinterested railroad men to de.
termine what sum should be paid annually
for said road subject to said right.
The committee to prepare business then
retired, and after short absence, returned
and made their report to the meeting. On
motion of Chas. Atkinson. Esq, the report of
the committee was accepted and the commit
tao diaoborued
On motion of M. B. Lloyd, Esq, the board
proceeded to consider said report, section by
section, and after considering and amending
the same, the report as amended was adopted,
which report is as follows, to-wit:
Your undersigned committee appointed for
the purpose of recommending to the commits
sioners, measures to be discussed and adopted
by this meeting, would respectfully report
| the following Recommendations:
LIST. We recommend that the committee
hereinafter proposed to be appointed, use
their discretion, either to take the necessary
| steps to recusitate the Rock Island & Peoria
| X. r. Co.. under the charter heretofore gran
ted, or to organize an Independent company
under the general railroad law of the state OF
| Illinois, for the construction of a railroad
! from Galys TO Rock Island.
I'd. We recommend negotiations upon
| proper terms and conditions with p. l.. Gable
and others who are the owners of the Rock
| Island end of the said Rock Island b Peoria
| r. r., now in operation. We would recon-
mend as an offer to the owners of said road
| so in operation, a compensation equivalent to
its real value, payable in the stock of the
Rock Island j. Peoria r. R., reeusitated as
! aforesaid, and not charged with reserved
| rights, in preference to paying a less sum,
ubject to mbering reserved rights.
Va "A hat he ho
opened as soon as practicable, and subscrip-
tions be taken to the capital stock of said
Rock Island Peoria railroad.
4th. We favor the appointment of a CON-
mittee of FIVE by this meeting, to confer with
the officers of the American Central railroad,
and authorize said committee to entertain
any proposal from said railroad company, In
su distance to the effect that after the said
Rock Island Il Peoria K. r. Co. shall obtain
all the local subscription, which can with
proper and bona-fde effort be obtained, the
| said American Central will furnish money to
complete and equip said road. and receive
therefor the bonds OF the read, upon terms as
favorable as o;her parties will offer; and we
| recommend that said committee be also suth.
orized TO confer with other railroad compan.
les on the same subject; and we further re.
mend that said committee be also authorized
to confer with said P. L. Cable and others,
and report terms TO the commissioners, tor
the purchase of the Rock Island end OF said
Rock Island 4 Peoria Il, R. ard that the
chairman of the commission be one of that
committee.
G. A. BIrTKNBANNKa,
A. GOULD,
MORRISON FRANCIS,
JOIN |. BENNETT.
On motion OF A. Gould, Esq. the chair
appointed the remaining four members Of she
committee of FIVE, as provided tor in the fore
going report. The chair appointed as said
committee Messrs. Bittenbanner Gould
Bennett and French. ~.H-
o. motion of j. 1. Bennett, the secretary
WIS requested TO furnish to the several
newspapers in the interest of said road, q
copy OF the proceedings of this meeting for
publication.
On motion of Mr.. French, the board ad
journed, to meet at Rock Island, at the call
of the president of said board.
O. E. PAGE, Sec'y.