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

Baltimore, With and between ali Of
the above named parties !; aud also
with the Marietta and Cinoinuati
r r Co. which constitutes . party
Of the fourth part, and embracing
intermediate points = ALI such
business from the road Of the party
Of the first part, to be consigned
to said parties Of the second, third
and forth parts respectively. ac-
cording to destination; the earning
thereof to be divided between them
pro .ra.a. according to distance
carried ON the several roads; but
the parties Of the second and third
parts agree to set apart and apply
froln time to time IS received.
thirty.three per cent. Of the gross
earnings from said busineess, re-
ceived by them respectively. at
Richmond, for points on or over
the tine of their roads. for the
purchase of said mortgage bonds
to be issued by the party Of the
first part, at the rate Of eighty five
per cent. on the dollar OF the par
value thereof. for pcriod Of years
from the commencement of said
business; but not to exceed Inc
amount necessary to purchase the
machinery, iron rails. chairs and
spikes, above mentioned. and at
the expiration of said period
years. the party Of the first part
is to set aside and apply thirty
three per cent. of its gross earn
ings derived from said business,
received by it at Richmond from
the other parties hereto. to re-
purchase the said bonds at the
SINE rate; the purchase OF said
bonds to be made in their numeri-
cal order. Sd. The party of the
second part further agreea to
furnish for the use of the party of
the first part, in the construction
of its road, . locomotive and con-
struction train and in conjunction
with the parties of the third and
forth parts, to transport the iron
rails, chairs. and spikes for said
party of the first part, (if deliver.
Ell .: Baltimore as customary
rates). and for said services to
take in payment the mortgage
bonds Of said party OF the first
part, herein before provided, at the
rate Of eighty-five cents on the
dollar of the par value thereof
In witness whereof the said parties
have hereunto set their names and
corporate seals on the -daJ
Of, 1870
The moet striking reply We re-
ceived 10 the above proposition
and to our arguments and en-
treaties Cor aid, was from Mr. Gar
rett President of the Baltimor,
and Ohio railroad shat 1t 1ookea
, to him a. if we had the base OF
top, and the apex at the bottom,
and from Mr.. King President o
the NJ Il c., that he had all b.
could do to run his road and kee;
his head above water The Bos-
ton capitalist remarked TO US afte
~e had retired that we had bette
90 home. and that If We could ge
the promise Of the endersmen
proposed, it ould not do US an.
. good; that If we Lad the road al
: ready for the iron, it would no
help us to sell the bonds;' upo
: , which advise portion of our part
got sick and returned home. tele
graphing that we had bought th
: iron. The President of the c !
/. Il D railroad. and myself, notwitI
standing we felt discouraged, wer
not willing to give it up, but wer
). to New York and conferred wit
several capitalists and iron me
II in regard to their opinion as
whether. if We had the road read
for the iron, such an endosemeu
would aid US in selling tho bonds
:. and the reply in every instanc
was, that it would not! that q
, absolute endorsement by know
responsible parties to pay the in
r terest, was In all cases required
: But l never could see, even il v
!. = could have had the promise of II
endorsement contemplated in III
!; proposition, and the advise ,
), capitslists that such eldorscmel
" would make the bonds sell, ho
:. we were to do all the work cor
:. templated in the FIRST section
:, said proposition without one doll
!, = of available means on hand. Th
- was in 1870, at which time tt
= road bed from here to Winchest
~ was nearly ell graded. the sui
!, scription Of the city nearly all e,
- pended. and with no avallab
means to get the balance Of Il
tics, TO procure the iron. lay dov
tho track, get construction ira
:, and pay for engineering &c.
r The Board as a last and derni
d resort, Though it seemed a ha
I'd one concluded q contract With t
I'd Pensy ylvania Central railroad ccu
pany to furnish the iron, bal
to spikes, DC for twenty-five mil
I'd of the road, from Richmond
n, Winchester, for 821 .0eO, for viii
,g the company pledged all The ava
so BILE subscriptions, TO become d
al on the completion TO Winchestel
8; all the taxes $500 COO OF the bon
ID Of the company and also . parso
ali al obi CATION of $4,000. T
er following statement will me
u clearly show the condition Of t
in company ON the completion Of I