The weekly Ottumwa courier. [volume] (Ottumwa, Iowa) 1857-1872, 1870-07-28

party OF the Iowa South w estern
reached town on Saturday and on
Monday went on Southwest to
Sigourney. They have found plenty
of room for q good line and the pco-
pie everywhere enthusiastic for the
project.
The Executive Committee Of the
company are preparing for an active
campaign.
The amount ofmoney to be raised
will be about $4,000 per mile or an
average Of $100, 900 for each county
through which the line passes. This
can be easily done.
In tho Clinton Age, VIC find the
following encouraging suggestions :
The general opinion seems to be
that money will continue easy at the
east for some time. This being tho
case would it not be q good idea to
hurry up the Iowa South Western
Road, provide tor the grading and
put the bonds upon the Market
While at Iowa City last week we
attended tho meeting of the Execu-
tive Committee of this road, and we
found the opinion to prevail that it
would be comparatively easy to pro-
euro local subscriptions sufficient TO
grade and bridge tho road. This
bong SO, we understand it is the
opinion of experienced railroad men
that tho road can be mortgaged and
the bonds readily sold for enough to
tic iron and equip the road. Could this
be done, and it certainly looks feast.
bic, the road could be made an ind
pendent one, and controlled in the
interest of the stockholders and
patrons.
Upon this subject of negotiating
bonds and the proftableness of such
investments, Jay, Cook & Co., use
the following language:
sIn our opinion, no class of invest
ments has been found 30 uniformly
safe and profitable as first mortgages
on completed railroads.
"Of 235 companies operating So
600 miles Of railroad in tho Northern
and Western States, on which there
is bonded debt of $662, 100000 we
know of but two that do not pay
their interest regularly.
1--WE believe there will be no more
favorable time to sell Governments,
and buy really frst-class railroad
securities than the present"
With the right kind of encourage
ment, the Iowa Southwestern can be
put under contract to Iowa City
within the next sixty days. The
people along the proposed line are
eager for an opportunity to subscribe
for stock, and it only needs enough
subscription to do the grading to in
sure the construction of the road.
We believe that business is now
meant. The Executive Committee
seem to appreciate the magnitude of
tho enterprise, and they are prepar-
ing for the survey and location ofthe
road as rapidly as possible. But as
we have tho highest financial
authority for saying that "there
will be no more favorable time to
soil Governments, and buy really
first-class railroad securities than the
present." the Southwestern ought to
crowd things so that one more first
class railroad security may be put
upon the market.
Where the inhabitants ore so keen
for a railroad as those interested in
the Iowa Southwestern, the most
rapid progress in preparing for active
work seems slow, but when things
roally move slow, then tho people
become dissatisfied and discouraged.
Now that the Executive Committee
has been aroused, we trust the enter
prise will be crowded along as fast as
the people who pay the money can
desire.