The Richmond palladium. [volume] (Richmond, Ind.) 1855-1875, 1872-05-11
THE FORT WAYNE RAILROAD.
The Other Side.

4
Numerous Communications in
reference to the Encouragement OF
the Cincinnati, Richmond and Fort
Wayne Railway having appeared
i most Of our city papers, and
also republications from Fort
Wayne papers, by Mr.. Edgerton,
some of those in our papers ap-
pearing under the editorial herd, |
but all cmanating from one or two |
gentlemen here, seem to require q
reply; and as the matter has been
referred TO inyour paper,I respect
fully ask that you will publish q
plain and truthful statement Of the
facts. e & sxf " - esq., ~
In.the Hrst place, almost all the
gentlemen who have been connect
ed with tho management of tho
Board Of Directors Of this rail-
road, either directly or indirectly
haye felt. all the time until about
q year ago that they had an ele-
phant on their hands, and I have
in company with other members,
of the Board, including the author
of the newspaper articles on the
subject in hand, rode all over the
country to give it away. We eve
cludes said author) visited the
President and Directors Of the
G HI. & d. railroad. time and
again. and used every argur ent
and persuasion We could command
to indnce them ~ take it, but were
as often sternly refused. We vis-
tied Fort Wayne several times, one
Of these times to see Mr. JOS, K.
Edgerton, President Of the Grand
Rapids AMI Indiana railroad, as we
entertained tie belief that COM
pany having paid up capital of
81 .U0C 900, and land grant, Of
$1,000, 900, that We might make
some arrangements with Mr.. Edger-
ton, by which he would be able to
assis. US, or render us some aid by
agreeing to cons o.ijaie, or make run
ming arrangements, but he declined
bysaying she was in % bad q fix as
we were,' as 'he then had q few
hundred tons of iron in bond at De-
tro t and was utterly unable to either
sell the bonds Of the company or
to raise money on them to get his
iron out Of bond;' and it lay there
| l was informed some six montIls
This was the experience of rail.
road President who has the reputa
tion Of being keen business man
who has been a member of Con-
4 gress on our side.' This was il
1869. when the financial condition
of the country was much more
favorable for obtaining money on
railroad securities than in 1871
and wha. become of this corpora.
tion Of $4,000, goo OF capital VI
will refer to hereafter.
I We also visited jackson ant
Saginaw, Mich, to see the officers
OF the Jackson, Lansing aud Sagi.
nav railr Dad company, who wer'
at that time forminga company I,
extend their line to Fort Wayne
This company had been endorsct
by tue Michigan Central, but ",
could obtain from them no definat
promise OF aid or assistance furthe
than 'that they would like to max
running arrangements with U
when our respt ctive loads wes
completed; but the sequel show
that when they got through, t
Fort Wayne in the early part Q
1871 they seem Ell to think ou
prospects so unfahorable for get
throug b they made running arrang
ments with or bought out the Fol
. Wayne and Muncie railroad.
We then visited Baltimore i
company with the President of III
G II & D railroad, fin all thes
1 We had the COMPANY and the cour
: Gil Of the author OF the newspape
: articles alluded toy. and had CO,
i ference with Mr. Garrett, I'll
= President of the B & o Railwa,
/ Mr.. King President Of the NJ &
railroad, and capitalist Of Bosto
j. who had been previously write
Il to. At this conference the sui
K joined proposition which the Pies
= dent of the G II & D thought wou
is aid US was submitted, togeth
). with q very fatieripg report of Il
y prospects OF our company, CO..
: tanning a history and statistics
d the road and the country throue
s which it passed, including this ci
y and Fort Wayne. TO which was a.
y pended a map rel Yesenting @
"a road as nearly q bce-line and pre-
- ty much the only road in all til
county. a E
COPY OF PROPOSITION
" 'MOmorands of agreement b
tween the C r & Ft WAYNE r
!. - Co Of the first part, the C II &
=. r r Co. Of the second part, a,
> the B & o r II Co. Of the thi
10 | art, witnesseth as follows: 1.
= the party of the first part agrees
" complete its road from Richmol
er to Fort Wayne ready for the iro
q. and to provide means for lay il
I'd the track and ballasting, and al
n for water and engine-houses, a
re depots, from stock subscription
nr and also to issue its bonds securv
u by irst and only mortgage on
H. its property, bearing seven p
" cent. interest, payable semi-ann
p ally in New York city, sufficient
amo1nt, iand to be applied excl
sively to the payment of iron raj
chairs. spikes and the necessa
machinery and rolling stock
its use End When said road