The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1867-04-11
Conditions of Subscription by Hen.
dersOn to the K. H. & N. Railroad
ten. BOyle'S Letter to the Mayor.

Conditions Of Subscription by Hen
dersOn to the K. HI. & N. Railroad
Gen. BOyle's Letter to the Mayor.
The petition which has received the
signatures of majority of the voters
of Henderson, contains the following
conditions upon which the subscrip-
ton of $500, 900 stock in the Evans
vile, Henderson & Nashville Rail-
road is to be made:
First.-That the subscription, or
the proceeds thereof, shall be sacred
" devoted and exclusively applied to
building the said Evansville, Hender-
son & Nashville Railroad, from the
city of Henderson southwark towards
jacksonville; and to secure the ap-
.plication of the proceeds of said SUBJ
scription to the construction of said
Railroad from Henderson southwark,
the bonds of the city of Henderson
when issued shall be placed In the
custody of John H.. Barrett, Esq, of
Henderson, who shall CO. Operate with
the President of the Evansville, Hem
dersOn & Nashville Railroad Compa-
ny, in negotiating said bonds and in
the event of his death, inability or re-
fusal, the Mayor and Common Coun-'
Gil to appoint some person to. act in
his place and shall apply the same
for material and work in construction
Of said Railroad on the order of the
President of said Company, based on
estimates of work done and material
furnished, to be made by the Engi-.
neer of said Company.
Second-The railroad is to termi-
nate at Henderson, and the city of
Henderson is to be and remain for at
least twenty years the only terminus
of the said Railroad In the county of
Henderson.
Third-The city of Henderson
will be entitled to and is to re-
ceive the payment of the sub
scription of 100000, in the bonds
of. the said city, 20 per cent. of
stock out of the value of the work on
the old Railroad on their said sub
scription-that is, for the $500, 900 of
stock paid in the bonds Of the city Of
Henderson, the said city is to receive
1850, 600 of stock. i.t.i Aeal49i
We make the following extract
from Gen. eBoyle's letter addressed to
the Mayor Of Henderson, which was
to the petitions: i'"'
By the terms of the proposition you
will see that Henderson is to receive
out of the 4 value of the old
road capitalized 20 per cent. in
the amount of her subscrip-
ton; that is, for $500, 600 subscribed
and paid in the bonds Of the city, the /
city will receive $360,0O0 Of the stock
Of the Company. ~ tllt- Il oea
The estimated value of the old road,
track, right of way, &C., is $632, O00.s
The sum of $132, 900 is to be paid IN
the bonds of the Company to the per-
sons from whom the E., FL. q N. Rail-
road Company made the purchase,
and the remainder of $500, 900 is cap
and 100000 is paid in stock |
to the same party, and $500, 900 is dis
tributed among all persons or corpo-
rations making subscriptions at the
rate OF 20 per cent. on the amount |
Out of the 100000 to
che party from whom the road was
80 per cent. in addition to
the 20 per cent. is to be paid to old |
stock holders as stated below by the
of. the party owning the stock.
Any individual making aeubscrip-
ion will receive 20 per cent on the
amount of his subscription. Any old
stock holder who subscribed and paid
% the cid Henderson and Nashville
Railroad, on taking and paying like
mount to The E., III. & N. Railroad
Company. will be entitled to receive
he 20 per cent. and 30 per cent. in
addition thereto, making so per cent.
10 the amount subscribed and paid by
'uch stakeholder of the old II. & N. /
Railroad Company. The so per cent.
hus offered to the stockholders of the |
I'D Company will be of greater value I
han all the stock he held in the old
Company could ever have been.
NV attention has been called to an
ordinance of your city proposing the
mount to be allowed the city and
,ther stockholders out of the value of
he old road bed should be 25 per
,ent. instead Of 20 per cent, as pro-
POSED in the petition herewith hand
ID you. o8 bus 9od
It is impracticable to change the
of 20 per cent, as made
n the petition, for the reason that 30 /
Der cent. in addition thereto has been /
,ffered to all the individual stocks
FOLDERS of the old Company, who
would subscribe to the new. The
persons entitled to the stock over the
s3OO,0 900 have consented that 30
Der cent should be allowed to such
Id stockh olders as would subscribe
% this Company, and have consented !,
hat as President Of the Company I'll
night use portion of the stock to