The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1870-06-07
CARNI RAELROAD.
Stockholders Meeting Yesterday
Beard Of Directors EIected.


Pursuant to notice given, the
Stockholders of the Evansville, Carmi
& Psducah Railroad met yesterday
afternoon at the Court House. Mr..
S. f. Gilbert was called to the chair,
and explained the object Of the meet
Ing to be the election of Directors for
the ensuing year.
Mr.. President Hill submitted the
following report:
The Evansville, Carmi & Psducah
Railroad Company completed its or
ganization on the second day of
June. 1859. by the election of Direct
ors and officers of the Company, with
a subscribed stock of fifty thousand
FIVE hundred dollars. On the fifth
day of August, 1869, the County of
Vapderburgh voted to the Company
as a donation, the sum of two hun
dred and forty-two thousand dollars !;
and on the 10th day of November fol-
lowing, the city of Evansville voted
to take stock in this Company to the
amount Of three hundred thousand
dollars. The subscription by the city
was made on the 10Th day of May,
1870.
The subscription by the County can
not be made upon the books of the
Company, until the assessment of tax
for the payment of portion thereof
has been levied and collected.
On the 11th day of June, 1869, an
assessment of two per cent. was levied
upon the stock then subscribed upon
the books of the Company, and on
the 18th day of August following, an
assessment Of eight per cent. was
levied.
These assessments amount to the
sum of FIVE thousand and fifty dol
lars, and of this amount there has
been collected the sum Of four thou
sand eight hundred and seventy dol
lars. The Company, for the purpose
of paying the men of the last sur
veyiug party. borrowed from the
First National Bank the sum of eight
hundred and twenty FIVE dollars.
These items, together with a small
item of interest, amounting to ten
dollars and forty four cents, consti-
tute the gross amount Of money pass
ing through the treasury Of the Com
paDy. and amount to the sum Of five
thousand seven hundred and FIVE
dollars and forty-four cents. Claims
allowed by the Board and not yet
paid, amount to the sum of fourteen
hundred and ninety-four dollars and
sixty-tWo cents. This, together with
the loan of eight hundred and twenty.
five dollars, already referred to.
makes the Indebtedness of the Com
pany at this time, tWenty-three hun
bred aud nineteen dollars and sixty
two cents.
The Company has surveyed three
routes to the Wabash River; one by
the way of Mount Vernon, to the
Little Chain. The third was run to
the Grand Chain, with a branch of
this line a mile and a quarter south
to a crossing near Marshall's Ferry.
On the Illinois side, lines were run
from Little Chain, and also from
Grand Chain, to Carmi. We ran but
one line from Carmi to McLeansboro.
The line by way of Big Greek and the
Grand Chain is the shortest line run,
and as good line for road building
as is to be found in any direction out
from Evansville.
The road can be built from Evans
vile to McLeansboro within two
years, at cost of about one million
of dollars.
1t is of the utmost importance that
the control of the road should remain
in Evansville. The enterprise was
started as an Evansville enterprise.
for the benefit OF the city, and during
all of our elections, the people were
induced to believe that the money
they were voting would be expended
among the laboriog classes of the
city, as it ought to be done.
The law requires this Company to
spend fifty thousand dollars in con-
struction during the next twelve
months, and if we fail to do that
amount of work, within the time, the
statute declares the corporation dis
solved.
Our surveys are in such a state of
advancement, that work can be COM
menced within from thirty to sixty
days. The only part of the year
available for the work we eonsem-
plate, usually terminates with the
frosts Of Winter, and, in view of the
advancement OF the season, demands
immediate action.
Respectfully submitted,
ROBERT A. HILL.
EVANSVILLE, June 9th, 1870.
The meeting then went into
the election Of Directors, when the
following board were elected: