The Richmond palladium. [volume] (Richmond, Ind.) 1855-1875, 1872-05-11

= Of collecting, ........ .... 1s.oee 5000
aa bsfod slls. 600
To which add coniitaal sabscip-
tion coming due, ............ . 1000
.ts.f. e.s5s e163, 900
From the foregoing statement
II is shown that the company
would have been in debt $lO6, 600.
Believing that We would lose all
We had paid, and only haye q short
line Of 25 miles of road. with the
prospect OF even losing that before
agreat while; this and the desire Of
apparently every stockholder and
tax payer Of getting the road com
pleted TO Fort Wayne, was the in
ducement to make the second
contract; hard as it seemed to be,
it was thought best TO do II. as our
people at this end OF the road gave
nothing more than they would had
the road stopped at Winchester.
not as much, especially lad the
$50 900 personal bond 20 be paid.
Now, n Mr.. Barclay and his asso-i
ciates had to advance and pay out
the ready money for all the work
to be done, including right OF way,
from Ridgeville to Fort Wayne,
engineering. grading. ties, iron,
bars, spikes, laying down track.
construction .rain, ballasting, side
tracks. station houses, and the
then indebtness Of the road, it
would only be fair to reduce the
assets of the company proposed 70
be turned over to them in consid-
Grafton therefor, as follows, to wit: !:
Conditional stockin Wayne Randolph
counties when completed to Winches-
ter,.... ....lo, ,uO0
Conditional stock in Randolph Co., when
completed to Ridgeville, 900
Stock in Jay Co., after deducting de-
linquent aud expenses Of collecting $4,000
Stock in Adams Co., after deducting de- a..
linquent and expenses of collecting
4 and interest,". ......... lzSsUOu
100 Fl. Wayne city bonds at 8Oc., 49,. 81. 900
$4,000 shares of stock, say, - be liber.
~ at$i eaei. ...,.,.''......., q e ,oov ss
Making a total lof.............. $l.o44. .ooC
which Is as mucl or more than
any gentleman here would have
given for this elephant, at tha,
time, and in its then condition
l can say for myself, that il ! had
had the money, ! would not have
given the half Of the above amount
for him. But it was expected tha
by these contracting parties. aftel
advancing m ore than million o
dollars which the mortgage woul'l
than cover, and also making ar
rangements with other railroad
companies for an endorsement OF
said bonds, guaranteeing the pay
ment of the interest ther con semi.
annually, that the intrinsic valu
OF the bonds would be considerabl,
enhanced.
The purpose OF this contract 70
getting the road through to For
Wayne. was published in most, i
not all of our city papers, som
ten months ago; and no dissatis
faction was manifested at tina
time; and was the only propositio
that we ever had before or since
, by which the road could be bull,
and there is no proposition now
Ii We had not made the contrae
at the time we did. We would hav
been unable to have done 60 after
wards, from the fact that Mr.. Hod
|, der, President Of the short lin
from Cincinnati to Dayton, ha
, his road north Of Greenyille in q
forward state as ours, !. nd th
Grand Rapids company was boin
, importuned by Mr.. Holder for
. connectios and running arrange
ments, which I have no doul
, would have been consummated an
, Ws would have been left entirel
, out in the cold In regard to Il
running arrangement, the preser
? parties, to -wit: the c. III & D
e Grand Rapitls, and Pennsylvsn
, Central r.ilroad companies, al
4 the only parties from whom v
had any proposi ion torun Il
road. These would seem 10 be Il
q most natural parties to laok 70 +,
e q running connection, being leca
= ed at either end of our line
+ road, and the terms upon which
/ is run are, l am informed, as Fl
v vorable to our company es col
: tracts Of that kind generally !
4 to ihe,lessors.
r From the report Of the Preside
s Of our coEpany. made TO 4
e Board of Directors at it, Ia
r meeting, it is shown that the Tres
: urer has collected as follows, t
: Wit:
g From running trains,. ..........$ 1895
a township taxes. s............. 1884
Jay co. individl stock. ..... 1882
n Wayne and Randolph
n CO. individual stock 1888
sl4o,e7d
In addition to which amt. the
Prcs't OF the company has reed
d from R. d. Barclay, e2s0.0O0,
"a from Adams 60. S63,ss3 50 90, ,s4s
y $4sl,e 500
D, There has been expended in grad
"a ing, tieing. bridging, right of
way. engineering; expense of
20 trains, telegraph line, &c.,. .4425 1893
h Bill doe and unpaid for dhching
H. | and fencing. ........... ....... 6,6ol
,e s4sz,ol4
] leaving . balance Of @2,68l.
(. Cost OF iron furnished by Il d
Barclay, about. $6z1, ,OcO
n Amt of debt assumed by him
le on iron from here 70 Win.
:. chester including interest 19l ,0OO
le sl,244, 4,ol4
70 Engineers estimated cost Of