The Richmond palladium. [volume] (Richmond, Ind.) 1855-1875, 1868-03-12
Fort Wayne Railroad.

4
the city papers, l informed you, in gen.
eral terms, of the then condition and
prospects Of the road. After what may
| appear to you long silence, in regard
to this important enterprise, 1 have the
pleasure to state that affairs are nowas
Stunning more definate shape At that
time the city had just granted (and that
reluctantly 100000 additional SUBJ
scription in aid of the road, but SO
hedged around, with commendable eau
ton, that practically put it out of our
reach. In the meantime, negotiations
werc kept up with parties directly in in
terest with us in this work, but with I'M
certain and indefnate results. In our
appeals for aid, we were told that we
must first 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 nd
vice, the City Council, / believe, by a
unanimous vote, have removed the OBJ
jectionable restriction, and by this act,
have placed the money at our disposal.
Nothing is now wanting to make that
part of the transaction entirely satisfac-
tory, 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 of
the bonds elsewhere. The wisdom OF
ho ootion fbo C;fu cooo
manifested in the form of proposition
of aid, which I received from the G. H. !
& D. Railroad, through it's vice Pres;
dent, John w. Hartwell, Esq, and as it
is matter of interest to the public,
here insert it: 81 S 5It 80 eZT
The G. III. & ID. r q c. R. & C. r. r
Companies propose to take loo of the
first mortgage bonds of the Richmond
& Fort Wayne r. R., at 80 cts. OIL the
dollar, to be paid out of the earnings of
the business brought to them from the
r. & Fort Wayne r. R., first deducting
sixty per cent. for expenses; the R. &
Fort Wayne R. R. Company agreeing to
begin to redeem at the end of FIVE years
the said bonds, beginning with those first
taken, at the same rate and continuing
until oil are so redeemed out of the
earnings from business brought to it
from the said C. Fl. & D. g. G. R., Il F.
w. R. RS. a &
This is to apply to that portion of the
r. & Fort Wayne Railroad between
Richmond and Ridgeville, and another
100 of the same class Of bonds, on same
terms as to the said r. R. and earnings,
as between Ridgeville and Fort Wayne.
The great objection to the above is
! that it absorbs a material portion of our
revenue at a time when we can ill afford
it. I am free to say it is not all we
want, it is not in fact what we deserve; it
is not what we hak Alright to expect from
them; but it is a move in the right direc
ton, and important one, too. And l
confidently expect to be able to modify
it, as to not only make it unobjectiona-
BILE but in evry way desirable. It is the
/ same aid they extendedto the Union &
Portland Railroad, and by which they
were enabled to obtain iron for their road.
Since the above from the G. II. q D.
Rail road. we have two proposals from
/
will be duly considered.
From the report of AFR Pomeory,
/ which was published, the public will
have learned that we require 100000
to finish our grade, and iron our road to
Ridgevillc, 334 miles from Richmond.
| We have of that amount $4,000, lea
| wing $4,000 to be raised dy subscrip-
ton or from the sale of bonds of the
road. At the meeting at Winchester,
last Thursday, committees were appoin-
ted to canvas along the line Of the rord.
for additional and. We except to raise
in this way $4,000 to $4,000. To say
that the people should build the road
1 up to certain point is easy-in fact
cheap, as 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 encour-
agement we expected, and every assu-
rance was given, that when our road
shall have been completed to Button,
they will finish it to Fort Wayne. ex-
pressing surprise that We should have
any fears in regard to it, as it would be
to them matter of self-preservation.
From Fort Wayne proceeded alone to
Button, where 1 held q very interesting
meeting, composed of the principal men
of the place, and was assured by Mr..
Studybaker, in behalf of this meeting,
that when our road shall have reached
Ridgeville, their full proportion shall be
forthcoming, and in shape that will be
at once available. The same may be
said of Jay county.
This, then, is the present condition Of
affairs, and from which point, say con-
fidently to the citizens of Richmond,
their road is an assured fact, at least to
Ridgeville, and that being the dead