The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1870-06-29
THE CARMI RAILROAD.
Legal Opinion on the Contract with
General WinSl0W.

AT meeting oil the directors or the
Evansville. Carmi & Paducah Rail
road Company, held on Monday, the
following resolution was adopted:
Resolved, That the opinion OF Messrs.
John j. Chandler and Chas. DENLY, which
has been read to this board. be publishe 4
in the city papers. E. q. VAN RIPPER,
Secretary.
TO the President and Directors of Evans
vile, Carmt & Paducah Railroad Co:
In pursuance of the above. Messrs.
Chandler ard Deuby submitted the
following:
In obeo.ence to your request, we submit
to you our views OF the contract between
your company and A. Winslow and his
associate for the building of railroad
into Illinois. We We're present with you
several days while the details OF the con-
tract We're patiently and thoughtfully
considered, Item by item. by you, and
therefore deem it necessary now to refer
to its leading points only.
II was cordial and most important fea
tuie of your plan that the projected rail-
road should not stop at the Wabash River
near Carmi. While, for very complete and
satisfactory reasons. the western terminus
has not been exactly and mathematically
fixed, q road has been provided for which
aUitI infersect the st. Louis ana Southeast
ern Railroad at some point in the vicinity
OF McLeansboTo, furnishing direct com
with all points in Illinois. The difficulty
of providing for the construction of an In
diana road with an Illinois connection
we regard as perfectly overcome by the
And while you secured this Illinois con-
nection. you wisely, and according 70 law,
ton with any other company, leaving
that question to be settled by the logic of
The contractors agree TO construct a road
of fifty or sixty miles in length, CORE
spending generally in quality with the 81.
Louis, Vandalia & Terre Haute Railroad.
The work Is to commence in this county
not cater than September LIST, 1870, and the
Road Is TO be completed during the year
1871. The contractors are to bear all fu'
The road is to be paid for on monthly
relative estimates of the work done and
m terials furnished, as follows: The sum
realized from the city bonds (s3OO,00Ol, is TO
be paid when the road shall have been
built to the Wabash River. II necessary
to carry on the work, the contractor may
then demand and receive S6O0,OO In mort
gage bonds, preferred stock amounting to
-eS0, 600 and $500, 0o0 In common stock. Our
half OF the county subscription being at
least Sl20 600, is to be paid when the Wa
bash has been bridged and cars nave pass
ed over 1t. The other half is to be paid u o.
on the completion of the road to its west
ern terminus.
1t ia especially provided that the city
bonds shall not bear interest until they
have been earned and delivered. By
resolution of the Council, they are to bear
AAb6EESL at SSNCA pei NGAb- R1y 0NA~
me time for the commencement of the
work was extended, owing to the insertion
OF the agreement which may be made by
the PAL ties to locate the road through New
Harmony. A strong public sentiment ex-
lists In favor of this route, and it will de-
pend somewhat upon the efforts made by
our Posey county friends whether the road
snall run through the rich country in the
New Harmony route. Tue other line is
by the way of Big Creek, q few miles north
OF Mt. vernon, Ind.
The machine shops are to be located at
Evansville.
The capital stock is to be increased to
81 500, GOO. The sum Of $780, 900 is to be prea
fsrred stock. The city of Evansville has
already, by its action last night, consented
that this preferred stock may be Issued.
The amounts TO be paid upon the final
completion are:
Bonds of the City of Evansville 100000
Vanderburgh County subscri ptlon $4,000
Preferred capital stock.......... ..... 5011,OO0
Common capital stock........-.-..........40 100000
Subsidiary 10 this general view, we may
say mat, as far as we can judge, aided by
the opinions of the best railroad men OF
the city, the details of construction are
accurate and perfect. The materials are
70 be the best, and the work is to be dor g
IN the most approved style. The rolling
stock IS abundant and OF the neatest and
You nave guarded the public interest o
as to make 1t the interest of the contracts
ors 70 90 the WORK according 10 the con-
tract. They can make no money by their
failure 10 60 the work. Upon the han
pening Of a suspension during any reriod
of four months you can rescind the CON
tract and take the work into your own
hands.
We have every reason to believe thas
the contractors viii do their part Of the
work as you have done yours. 1t Is not
proper, perhaps. for us, who have acted as
your attorneys, to compliment or praise
ycu for your patient, Iaborious and pru-
dent examination of this con ira ct in all
its bearings. But we can OF forbear say
ing. as citizens simply, that in our opin-
ion you have done your duty thoroughly
and com pletely, and that every good citi
zen will be grateful to you.
Respectfully,
Your obedAent servants,
CHARLES DENNY,
JOHN j. CHANDLER,
EVANSVILLE, June 81 1870.