Middletown transcript., 1869-02-20

Railroad to place their rolling stock upon
your rood.
You will perceive the ! I miles Of road
is now ready to mortgage and is good se-
curity for / of its cost, viz, $169, 800; and
would secure to the company, say $780,
600, which added to the capital on hand,
$410. 200, would increase it to S466, 800.
with which we will begin the second Sec
tion.
From Massey's to Kennedyville, nine
miles, at $13, ,545 per mile, would make
$12l ,9O5 land damages 9 miles, 8 acres
to a mile, 72 acres, at $75 per acre would
be s., 400; and 3 miles of fencing at
81 900 per mile, would be $4,000, max
ing total cost of $136, 305, and leaving
balance on hand of $3.50, 1876. Now
mortgage section second for j Of its cost,
which would be $45, ,435, and WHICH add
ed to the cash on hand would give capital
of 1915, $50 to begin section third.
Section third, from Kennedyville to
Belair, II miles, at the same rate will cost
$162, $40; land damages--12 miles. SO
acres, at $40 per acre would be $G,72O;
IL miles Of fencing at 81, 900 per mile
would be $12 900, making . total cost of
S181 ,260, leaving ON hand to begin Sec
tion fourth, $194,670.
Section 4th, from Belair to Deep Land=
ing, 10 miles at the same ratio would bo
$135, ,459 land damages-10 miles, so
acres, at $40 per acre, would be s., 900
10 miles of fencing at 81 900 would make
$40, 900, making total cost of $151 $3.50.
leaving balance on hand of $43, 500, the
road completed, and no mortgage on see
tions 3rd and 4th.
All requisite buildings, platforms, 40.
can be furnished from Middletown via
Massey's to Deep Landing as follows:
l wharf, $40, 900 store house 1900,
tank, pump, and station house, at wharf,
$1,000; engine shed at wharf 81 900,
LOO feet of oak platform, station 6opse, at
Reese's Corner, Belair, Fancy Farm, Gin
er's, Lnych'a. Blacks Cross Roads, Black
iston's, j. p. Cochran's, $500 each;
Chestertown, Kenncdyville, Galena, Sas,
safras, Warwick. $3.50 each; Massey's,
81 900, making total cost for platforms,
and station houses on the entire route
$23, $50, which DEDUCTED from the cash on
hand, $43, ,620, would leave q balance Of
$19,s7O.
We can now, perhaps, accommodate
Chcstertown with branch road. We
will mortgage sections Sd and 4th for l Of
their cost, which will be $l00, ,6s3a, and
which added to the cash on hand will give
$l2O, $3.50. Now add subscriptions at
Middletowa and Warwick, $4,000, and
what It cost to build the useless wharf at
Chestertown, $40, GOO, and we have RIa4,r
553S. Now allow $1OO, 900 to build the
branch road to Chestertown, and will still
have left $84, $500.
Had the Board adopted the foregoing
plan for constructing the railroad, at its
organization in 1867 1t would long ora
this time been in full operation, and in
stead of the discordant outcries of the peo- :.
pie, would have received their grateful
acknowledgements the credit of tho com.
pany have been above suspicion the road
a blessing to the people, and such benefit
as they would never willingly have relin-
quished, and doubtless paying the stock.
holders fair percentage on their money,
But such contemplation is useless. 1t is
as showing bankrupt the treasure ho
has lost, and offering him congratulation
upon its value"
The facts Of the case are these The
R. r. has not been built. No contract
exists for building it and the past con-
duct of the Directors places them in an un-
enviable position with all contractors.
The time was when they bad but to iu=
yite proposals and they were handed in
from all quarters from the most reliable
parties. Now, 'none SO poor to do them
Stockholders refuse to en-.
trust more of their money to be squander-
ed in strife and foolish speculation. They
appeal to the strong arm of the law, to do
what? To force members of mutual COS
partnership to give their money for prosc-
cutting a search for a man who will build
the road and pay them for the privilege.
A philosophers stone will much sooner be
found, predict The whole thing is as
a tangled skein of silk, which any good
housewife would throw away rather than
lose precious time in unraycling. Nothing
can be done until these suits at law are de-
cided, which futurity alone can tell. Eyz
cry man in Kent is an interested party.
and, presume will be in court, as every
man is taxed by the bonds already issued
for the road, and by sequence feels an in
terest in seeing the road either in progress
DR. abandonment. Ccptaiply be eap feel
no interest as juror, for the welfare of
any company that will Rbandon the pomr
pass for law book, the level for lawyers
brief; that can experience more pleasure
N the harrangue of their lawyer than the
whistle of the iron-horse, or experience
more comfort in the curses of an outraged
both loud and deep, that in the
yratefullness expressed BY that people who
With products of all kinds throng the roads
eading to we'll conducted public convey
lnce, and who know that the energy of a
competent Board of Directors has filed
heir pockets with large returns; has
improved their lands, brought life civiliz
'ation and its attendant blessings into
heir midst. In word, has made them