The state rights democrat. [volume] (Albany, Linn County, Oregon) 1865-1900, 1868-07-04

HAaarsuuao, June 10th, 1868.

Editor State Rights Democrat:
The political commotion hat recently n.
itated the d~enizcns Of this locality has com.
pletely subsidized and the serene. smiling
faces that characterize the members Of both
political parties evinee the enyiable alacrity
with which our people bow to the sovereign
viii Of the majority.
The great political question having been
satisfactorily settled, our citizens just now.
are carefully considering tho merits Of the
Railroad that Is to be extended from Port.
land to Eugene City on the East side Of the
Willamette River rs proposed by the Oregon
Central Railroad Company.
1t is difficult To find n nan Of ordinary in
telligence, unless he is beset with criminal
~selfshness, that denies the beneficial advan.
tages Of the road 10 the people at large, but
there are those amongst Us whom we must
acquit of any harsh suspicion that sincerely
questions the propriety, the justice and safe.
~ Of investing means in aid Of the road as
required by the contractors, A. j. Cook 4
Co.
A. j. Cook Co. in order to insure a har-
monious identity Of interest between them.
selves and the people require that they pur.
chase the entire stock Of the road al one
tenth Of its estimated value; the other nine.
tcnths being ~mortgaged to the contractors:
and so soon as the buyer Of the stock pays
one tenth Of it's estimated value he is to 70.
ceivc n certificate Of non .nssessable stock,
ten times the value of the money paid for
the same; and he is then a stakeholder Of the
Company representing ten times as much
stock as he bias paid for, or will ever be re
CURED to pay for. except as it arises from
tho nett proceeds Of the road as per contract.
There are some who manifest desire to aid
the enterprise but are a little fearful they
will be responsible, and accordingly assess.
ed for the whole amount represented by
their stock. Leaving out of sight the relia-
Bile and eminent legal opinions adverse to
this supposition it would be such a shame.
less and fragrant violation Of good faith so
obnoxious to every principle of justice and
fair dealing it would not be tolerated, much
less sustained, a single moment, in any
court or community where law and justice
could claim the slightest esteem.
There is an objection interposed by some,
that the estimated is much more than what
will be the actual cost of the road, thereby
the contractors will realize large sums of
money which should be applied to the IL
quotation of the mortgaged stock Of the com.
pany. The writer is not sufficiently convcr.
SAINT with the cost Of railroads to venture on
opinion. 1t is not to be expected, nor
should it be desired by the stockholders that
the contractors should undertake to build
the road at a cost that would involve loss or
yield no profit to them. 1t is probable the
builders Of the road have q wide margin for
gain in the contract, but it is certain the
people that need the road here are unable to
build it, and the amount they are called up
on TO contribute viii be duplicated the mo
ment the enterprise is consummated. Then,
inasmuch as we are TO be vastly benefited
let US maintain a charitable Indifference as
to what A. j. Cook & Co. may make out Of
the operation.
If there is a people any where suffering
for the want Of a speedy transportation the,
are to be found in the Willamette Valley,
and now the opportunity and inducemenl
are soliciting their relief. Will they have
it2 Relying upon the intelligence, pride Of
State, and public spiritedness Of our citizens
we feel it a foregone conclusion. There are
many reasons Why the people Of Linn
! should purchase the railroad stock. In the