Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1871-12-28
THE CALENA Il MCsCODA R.R.

of the readers Of the TRIBUNE to
justify the absorption Of so much
space. The only comment we have
TO make is that it has been given out
along the surveyed line that all the
aid required from the people and
towns, would be the right of way,
which does not correspond with this
article, as it clearly shows that about
100000 in subscription and town
aid must be had along the route
to make the enterprise success.
Broad gauge roads ask no more aid
than that:
Railroad meeting number six was held
last evening at the Court House, }. NJ.
Ryan in the Chair; and action was taken
which looks like business. A plan was
made public by which the road can be
built without inflicting any hardships
upon any of our citizens, and enough of
the stock can be owned in this vicinity
40 that the road can be controlled here
q. home
After organizing tho meeting, Mr.. Rob-
ert Brand, on behalf of the Committee to
solicit subscriptions Of stock, reported
tina. since the last meeting $1,000 had
been subscribed and some more had been
promised
On motion Of Mr. Mars tho report was
accepted, and the committee were re-
quested to continue their cxertions.
Louis Shisslcr Esq was then called
for, and responded in one Of his best eff
forts, placing before the meeting the plan
50 which we have already alluded, lie
commenced by saying that we had now
held six meetings within the last two or
three months, had selected very efficient
committees to solicit subscriptions OF
stock; that these committees had worked
faithfully and had only succeeded in
raising $4,000, which would probably
be made up to about 100000 The first
section of the road, extending 10 Belmont
about one half the entire distance to-
Muscoda, would cost 100000. 1t was
to the building of this section that ou
efforts were now directed When We
had reached Belmont, tho people along
the line beyond, would grade the road to
Wingylle, when we should tap tho best
portion of Grant County. How are we
to build the road to belmont? The $lOO.
900 which would be raised by subscrip.
ton in Galena was not II sufficient basis
to start with Unless more could be
raised here, we should have to abandon
the enterprise.
The city Indebtedness of Galena is
5000 900 Mr.. Shisslsr proposed thatI
the City Council fund this indebtedness
at 100 cents on the dollar, by issuing new
bonds, payable in twenty years at the
State Treasury, with interest ut six per
cent per anuum, on condition that the
bonds were to lo used in building the
proposed railroad, Ia WAS sure that q
large portion of the stockholders would
accept this proposition, and it there
were any who would not, their bonds
would be bought up and used in building
the road The State had passed a law
enabling cities to pay oil their indebted>
ness in this manner, which made the
bonds good in the market This $500,
900 added to the 100000 which we
should secure by subscription would give
US $500 900 To start out az naent with
We could doubtless raise along the line
of the road, by personal subscriptions
and town aid, from 100000 to $500 600
more, aud then We should only have To
bond the road Tor SlOu 900, to secure the
entire 500 900 required to complete AMI
equip the road. In this way the road
could be built without question. and
could be owned and controlled by Galcna
and the people along its route
Mr. T. Barrett, responae loa call, and
stated tha; he hoped the GNErrB report,
ar would not publish the $4,000 rs the
amount raised Ivy GaleNh It was really
the amount subscribed by portion ct
her citizens Il all who were able had
responded as literally in proportion. we
should have raised from $l5OOOO t.
S20OOlO Mr. Barrett favored tuudin-
.he city indebtedness IN the manner al.
ready suggested, and as one ot the III,
rcctors, he gave pledge tba,i(thi, we're
done the road would bo built This was
our last opportunity 10 secure railroad,
and our interests laperatiyeIy demanded
shat we should build IT.
Mr John l.orroin was strongly in favor
ef building the road al whatever cost
We had slept loog enough Ii we ahan.
doned this enterprise, and Iay down 20
take another nap, he would not 90 90
sleep with us lie would pick up his
craps and travel 70 some point where the
people were awake.
Mir. NJ \ johnson, President of the
Company, explained the law which had
been passed ~ the Legislature enabling
cities to land their Indebtedness taiar
this Laws our ci,y Indebtedness could be
,,ac available in building this railroad