Indiana American. [volume] (Brookville, Ind.) 1865-1872, 1868-04-03
Fort WAYNE Railroad.

EpiroR PALLApiuM,-fn a commune
cation made TO the public, aud irst pub.
lished 10 the Telegram, few months ago.
which subsequently appeared In all the
city papers, | Informed you, In general
terms, Of the then condition aud prospects
OF the road, After what may appear to
you long silence, Ia regard to this I'M
portant enterprise, have the pleasure 10
state that aiiars are now assuming moro
dedniie shape At that time the city had
just granted (and that reluctantly 500.
900 additional subscription Ia aid Of the
road, but 80 hedged around. with CON.
mendable caution, that practically put |,
out Of our reach. In the meantime pegotia-
tions were kept up with parties directly In
interest with us In this work, but with un
certain aud indefnite results. In our ap-
lpeals for aid, We were told that We must
drs, show our faith by our works. and one
giving evidence of that fact, by what We
did We would have plenty Of friends
Acting upon this sensible advice, the City
Council, l believe, by a unapimous vote,
have removed the Objectionable restric-
tion, and by this, act, have placed the
mouey at our disposal. Nothing Is now
wanting 10 make that part OF the transac.
tion entirely satisfactory, but the ability
on the part OF our citizens to take the city
bonds for the same, which they do not
seem willing to do, at the usual rate OF
interest, and which refused, must result in
the sale oil the bonds elsewhere. The wis.
dom of the action of the City Council was
soon manifested in the form Of q PROPOSE
ton Of aid, which | received from the z.
III. 4 ID. Railroad, through its Vice Pres.
dent, John w. Ilartwell. Esq, and as il is
matter Of interest to the public, here
insert il:
The g. II. & d. r. & G. r. x z. r. Il.
Companies propose to take 100 Of the FIRST
mortgage bonds Of the Richmond d Fort
Wayne X. r., at 80 cts. on the dollar, to
be paid out OF the earnings Of the bust
ness brought to them from the Il. Il Fort
Wayne X. r., FIRST jeduc,ng sixty per
cent. for expenses; the X. Il Fort Wayne
X. Il. Company agreeing to begin TO re-
deem at the end OF Eve years the said
bonds, beginning with those first taken, at
the same rate aud continuing until oil are
so redeemed out Of the earnings from
business brought to il from the said Z.
IL. & ID. 4 q. II. Il Il. w. Il. Rs.
This is to apply to that portion Of the
Il. & Fort Wayne Railroad between Rich
mond aud Ridgeville, and another 100 OF
the same class of bonds, on same terms as
to the said r. r. and earnings, as between
.Ridgevile and Fort Wayne.
The great objection 10 the above is that
it absorbs material portion of our reve-
nue. at time when we can i'll afford it.
am free TO say il Is not all we want; il is
not in fact what we deserve; il is Dot what
we had Alright to expect from them; but il
il move ia the right direction. and an I'm
portant one, too. And [ confidently ex.
pect to be able to modify it, us not to ouly
make il unobjectionable but in every way
desirable. IL is the same aid they extended
to the Union Il Portland Railroad, and
by which they were enabled to obtain iron
for their road. Since the above from the
q. ii. x ID. Railroad, we have two proposals
from other roads, which at the proper
time, will be duly considered.
From the report Of Mr.. Pomeory, which
was published, the public will have learn
ed that we require $500 900 to finish our
grade, and iron our road to Ridgevile,
l3t miles from Richmond. We have of
that amount 100000, leaving $40. 900
TO be raised by subscription or from the
sale Of bonds Of the road. AT the meet.
ing at Winchester. last Thursday, CON-
mittees were appointed to canvass along
the line Of the road for additional land
/ ~,
to SIS 900. TO say that the people should
build the road up to u certain point is
easy-in fact cheap, us the assertion costs
nothing, but to solicit aid from men who
have lost three successive wheat and one
corn crop, and who are scarcely able to
pay their taxes, Is different thing.
The reception of the committee that
visited Fort Wayne, was all that could be
desired. They gave all the encourage.
ment we expected, and every assurance
was given, that when our road shall have
been completed TO Bluffton, they will
finish il to Fort Wayne, expressing sur.
prise that we should have any fears in 70.
gard to il, as il would be to them a matter
Of self. preservation. From Fort Wayne
proceeded alone to Bluffton, where
held very interesting meeting, composed
of the principal men OF the place, aud was
assured by Mr. Study ybaker, in behalf OF
this meeting, that when our road shall
have reached Ridgevile, their full proper
ton shall be forthcoming, aud in shape
that will be at once available. The same
may be said Of Jay county.
This, then, is the present condition oi
affairs, and from which point, l say con-
6dently to the citizens Of Richmond, their
road is an assured fact, at least to Ridge
vile, aud that being tho dead point OF
danger, know Of no reason why the road
should not be built to BlufTton this fall,
aud to Fort Wayne next year, by which
time, am assured by Mr. Edgerton, Presi.
dent Of the Grand Kapids Road, he will
have 100 miles Of his road running due
North from Fort Wayne.
Should we fail in securing sufficient
means along the line, TO finish the first
section TO Ridgeville, we can fall back up
on the proposition OF the 9. IL. q ID. Rail-
road, or that OF others. IL found more ad-
van;ageous-or we can donate all TO some
party TO build il. Tbis would be TO me a
dernier resort, when all other means shall
have failed. The city of Richmond will
have $4,000 in the road, beside her citi.
zens, aud those along the line, who have
put in valuable property, which has doub-
led in value, and oil of which would be
swept AWAY in case the last plan ia adopt-