Delaware gazette. [volume] (Delaware, Ohio) 1855-1886, 1868-07-31


Court Room this evening.
rr-eH Q
THz RAILROAD PROJECT ExPLoD-
ED.-We regret to chronicle that such
is the result of the Mt. Vernon meet
ing OF Wednesday. For the present,
at least, the organization Of the COM
pany is defeated and the enterprise
indefinitely postponed. From all re-
sponsibility for this a simple explana-
tion Of the facts will be sufficient to
exculpate the gentlemen who repre-
sented the interests Of this county.
Delaware county presented at the
meeting unconditional subscriptions
amounting to $50, ,250, Knox. $50, 900
and Coshocton 81 ,OOO Of course
the claims of the respective counties
to representation in the organization
of the company should. as a matter of
right, have been adjusted according to
the amount ofsstook subscribed. But
the Knox county stock holders we're
not satisfied with such an arrange
menl. Delaware asked three of the
Directors. Knox insisted that she
should herself have three, Coshocton
two and Delaware two. This would
of course have given Coshocton and
Knox a majority of the Board and
entire control of the management Of
the road. This difficulty might have
been adjusted and possibly even these
terms, unfair as they were, aceeded to,
if the two eastern counties had con-
sented that the work should be com
meneed simultaneously at both ends
of the line and prosecuted equally
along the route. Upon this condition
Delaware in accordance with instruc-
tions, insisted, and we cannot see how
the interests of this county could have
been secured without some such stip-
ulation. In view Of the amount Of
stock subscribed here, and especially
4 of the unequal division insisted on in
the management it seemed like reck-
less folly for this county to place her
capital in such a situation that il
might all be diverted towards building
a road from CoshoetoR to Mt. Vernon.
Knox proposed to amend the PROPOSE
ton Of Delaware so as to say that the
work should be commenced and prose-
euted as described "if practicable. "
But Knox and GoshOeton having a
majority of the Directors the matter
of practicability could be determined
by their exclusive judgment. While
Coshocton and Knox might reap the
benefits Of our investments Delaware
might be deprived of the road for
years through want of "practioability. "
We regret exceedingly the temporary
defeat of the road. We say Temporal
ry, for the route being one of the
natural lines of travel and freight we
believe the enterprise will yet some
day be carried through. At least we
hope so. Gd
The gentlemen from this county who
attended the meeting were Messrs. J.
A. Barnes, 7. P. Myers, j. N. Stark,
J.A Carothers, Leonard and
- Van Sickle. Their instructions
were embodied in the following reso-
luton which was adopted at the meet
ing Of the Delaware county stock
holders on Friday evening last:
ResoEDed, That our subscriptions to
the stock of the Pittburgh, Mt. Yer
non and Indianapolis Z. r. Co: are
made, and that we now enter into the
organization of the company, with the
understanding, that not to exceed five
(5l, per cent. of the amount of our
subscription shall be expended, nor
debts incurred in excess of the aggre-
gate of that amount, until sufficient
amount has been subscribed to com.
plete the road-bed from Coshocton tc
Delaware, Ohio, and that when work
shall be commenced thereafter, it shall
be upon both ends and along Che line
| and prosecuted equally until compile
ted. q th se ~ ~