Marshall County Republican. (Plymouth, Ind.) 1856-1878, 1872-03-14
From the Kankakee Times
Plymouth, Kankakee & Pacific
Railroad Company.

The Board of Directors of this Com
pany met at the fremont House, in Chi
| cago, on the 28th of February last
The President, Mr.. McGrew, presented
a Report of his official acts, and a MI
| Hawkins in behalf of himself, and Sam
ule Hanna and some others, addressed TIN
Board upon the affairs of the Company
and criticised the administration of tn,
| President. The Board, upon an examin
alton ofthe Repot and Mr.. Hawkins char
ges, approved the Report of the President
| The accounts and affairs of the Sccretar,
and Treasurer were referred to the Executive
Committee, and Messrs. Singleton ant
Reeve for investigation.
Protests were received from the counties
of Kankakee and Putnam, and many
towns in Illinois, against the recognition
by the Company OF S190,O00,00 and up
wards of stock recently issued to Samue
Hanna and others for lands taken from
three to five times higher than their cash
value. The genei al offices of the Com
pany were ordered to be established at
Kankakee, and the Secretary was order
ed to remove his office there. The salar-
les of the officers were reduced as follows,
The President, 100000; Secretary and
Treasurer united, not to exceed 81 100000
Chief Engiueer, to $1.500.00; Assistant
Engineers, to 100000; General Attor-
ney, after the next stockholders meeting
in June, $1,500.00; Directors, nothing
but eXpe nses.
Hawkins, Willard & Co., who have 55
miles of the road to construct, and who
have been paid forit, were ordered to com
plete it in thirty days, or be sued on their
bond. Boyle, who was appointed agent to
take land subscriptions upon appIaisment
at cash valuation, by a resolution of
Oct. 20, 1870, removed, aud his authority
revoked, on account of taking a quantity
of lands at s 100000 90 and upwards, from
Samuel I. Hanna and others, at an APP
praisement three to five times higher than
their actual cash valne, and without seeing
them and not altogether free from encum-
brance. John G. Cushman, Secretary,
having faild to appear on the afternoon of
the last day Of the session of the Board,
although the Board waited an hour for
him, Thoms P. Bonfield was appointed
Secretary pro tenn. and subsequently,, per-
manent Secretary. Cnshman was removed
from his Office of Secretary, which was
brought about by his issuing of stock on
the hanna land subscriptions against the
objection of the President, and also be-
cause he had failed to produce the stock
book to the Board as required by the pres
ident. Cushman and Samuel [. Hanna,
were also removed from the Executive
Committee. The stock issued upon the
Hanna land subscript'n was declared void.
aud was repudiated The president was
to make a contract with Barnes
and others for the entire completion
OF the Road, issue to Barnes S115,OoO.0O
of stock, upon his passing over 800, 600 90
bonds to the Company, besides $75. 600 co
of bonds heretofore given the Company.
Messers. Strong and Reeves were appoin-
sed TO tiiAthe t.lca0cies on the Executive
Committee Samuel n Hathaway. presen-
ted his resignation of the office ri Treas
urer, and Jno. Dale was elected treasurer
The Secretary elect, was ordered to de-
mand the books &c, of the office of Cusb-
man, and If necessary to bring legal meas
ureS to secure them. Cushman when the
Board took recess at noon, of the last days
session, took away with him and kept the
Records, and all the proceed
ngs of the Board, and subsequently, in
connivance with Samuel L. Hanna and
others, caused an injunction to be served
lpon himslf and Bonfeld at Plymouth,
n favor of Hanna and Others to restrain
Cushman from giving up the books &C, I
md Bontield from receiving them This
writ Was ordered to be returnable in April
lext. The Report of Mr. McGrew was car /
led off by Secretary Cushman, together
With all the proceeding at the first day,
md up to noon of The second days ses-
ion of the Board, and the injunction |
prevents the Company from obtaining
hem. When obtained the Company viii I
publish them.
ONE WHO WAS THERE.