Middletown transcript., 1869-02-20
Correspondence qfAe ASdaletorn Tlanseript.

enquiries from stockholders and friends of
the Kent Co. Railroad as to why said road
was not under way, and from others the
assertion has been made to me. that it
could never have been built, while some
again importune me with enquire if there
is no way that can be suggested that r.
Il. can be procured, and that at once.
So frequent have these interogationa be-
come, that propose to briefly answer all
persons who may feel deep interest in
the welfare Of the counties of Cecil and
Kent as well as the interest of such an i'm
portant enterprise, and give them few
hints which consider entirely practical,
and ask the seriaus consideration of the
matter as l shall epdeavor to present,
probably for the last time, to them.
First a brief history of the organization
and transactions of the company.
In September, 1866, the Kent county
r. r. Co, was organized under the Kent
county and Delaware charter. Officers
were elected to construct the road from
the waters Of the Chesapeake Bay. Cor
Chester river) to point on the Del. r. r.
not more than four miles from a station
known as Townsend, and were furnished
with cash capital "a follows:
From the State Of Maryland by appro-
priation, 800, 900; from subscription,
$100, 900; from the Bonds of Kent coun-
ty, equal in cash to 800, 900; and, as l
am told, with the liberty of issuing their
own bonds for $500, 900; showing resour-
ces for obtaining funds to the amount of
5000. 900.
The knowing oncs Of the Directors of
the Co. that were the acting parties, had
the contract drawn with SO much shrewd-
ness and closeness, and the company, or
rather the Board of Directors, not being
prepared to meet the letter of the contract
by issuing the company's bonds. and other
reasons, the contractors discovering such
negligence and absence of good faith, de-
clined to have any farther operation with
them and annulled the contracts. Local
matters and interests arising in the Board
brought the sad condition of affairs. Some
were for Townsend as a terminus, others
for Middletown via Sassafras and War
wick some fora curve in the road to run
it into Chestertown, others for direct
route to Deep Water Landing. The curve
into Chestertown would doutless cost an
excess of $100, 900.
By these circumstances and differences
alone the work was stopped, and no further
prospect of road was apparent at that
time than there was before the enterprise
was thought of. The great fear now en-
tertained by those most interested is, there
will be no railroad at ALL The out-spokcn
thoughts of the several sections hoping to
have been benefited are, what great
wrong has been committed and what a
shameful sacrifice of their money has been
made that their interests have been will
fully outraged and their rights violently
taken from them by an overbearing and
powerful monopoly, viz: The Frenchtown
4 New Castle Railroad, who have by an
arbitrary act, sacrificed the interests of
large section of fertile and populous coun-
try to maintain the brief authority of de-
funct corporation by refusing to allow
Middletown as terminus of the Kent Co.
R. r. and forcing the company to go to
Townsend, or not at all. This action
alone caused dead lock on the railroad,
and leaves, as l have said, as fertile pro-
duction and beautiful country as there is
in the State, and where a railroad is sadly
needed, to place it in the swamps of Appo-
quinimink Hundred, where improvements
are in spots and habitations, even of the
humblest kind, are 'few and far between"
and no prospect of a speedy change. Two
thirds of the nine miles from Townsend to
Massey's will be of no benefit to the Della
ware Rrilroad for fifty years. Those of
the Kent county company who once favor
ed Townsend now come out and acknow-
ledge the error of their former views and
acts, when it is too late.
But such is the state Of affaiFs and a
state whice will eyer be deeply regretted
by Cecil and Kent counties and, predict,
by the Delaware railroad also.
Citizens of Cecil and Kent counties, l |
desire to call your attention and lay
before you how entirely easy it would be
to construct railroad upon what deem |
the true principal.
LIST, The company has right to issue
bands of their own. End. There is an
amount of cash still in hand.
Now ! propose to build the railroad in
sections, and in the way to make value
to every dollar Of boads, and thereby to
make them available.
With the cash in hand would construct
the first section, say of ten miles, which
will take ope-half of the cash on hand.
The Delaware railroad will put upon it the
rolling stock at once. Now if you have
ten miles of finished road to mortgage you
can do SO for ten per cent. more than to
carry the company's bonds until the entire
road is com pletsd.
Now will give you my idoa in detail
At the organization of the company in
1866, the capital in cash was, State of
Maryland fund, 800, 900; mutual SUBJ
scription, $100. 900; Kent county bonds.
$100, 900; and the company resolved to
issue boads fer-$4OO. 900 to net them at
80 per cent. the sum in cash of $3.50, 900;
making total in cash of $3.50, 900.
The railroad from Middletown to Mas
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