Lexington weekly intelligencer. (Lexington, Mo.) 1871-1887, 1872-05-08
PRESIDENT MORRISON'S RE-
PORT.

LEXINGTON, May 5th. 1872.
To the stockholders and directors Of the
Lexington & st. Louis railroad company:
70 enabl you to know what steps have
been taken to secure the completion Of the
h.. & st. l.. II. r.. we would state that at our
election held on the 18th day of October,
1870. we went to work in earnest, putting
our best energies forward to complete 4
road that our people had been struggling so
long for. hoping we might succeed, by great
eXertions. We leave the public to judge of
the success of our efforts.
We found one hundred thousand dollars
Of Lafay cite county bonds. hypothecsted at
the Union National Bank, at st. Louis to
secure three notes Of the company for eighty
FIVE thousand dollars. On being notified OF
the maturity of the notes, which were due
and payable in New York, we proceeded to
St. Louis nine days before they matured,
and found purchasers in the persons of II. Z.
Bridge and n. j. Lakeland. both of st. Louis,
for our bonds, which they bought and paid
for at the rate Of eighty-fve cents on the
dollar. For the proceeds of the sale of said
bonds our notes to said bank were paid.
We had voted TO us by the people along
the line of the road the following bonds to
secure the completion Of the road, namely:
BY Pettis county NO
by saline county % ooo
by Freedom township, Lata'y Co... 20 700
by Davis township, I" -. III OOo
BY Lexington town'p -. 20 600
These bonds have been appropriated to
secure the purpose for which the people
voted them, except the last named twenty
thousand dollars, which bonds are still IN
the hands of the commissioner, although
they were sold previous to the garnishment
under which they were held, with the view
Of paying the creditors of said road.
The following article of agreement will
show to whom said bonds were sold, and
for what purpose, and what amount oil said
bonds are still due the National Loan Bank.
For the delivery of the same Colonel Geo.
Rathbun and myself are still bound rs secur-
ity:
Received OF William Morrison, President
Of the Lexington and ST. Louis Railroad
company, the obligations of said company
with personal securities for the delivery Of
the bonds of said company to the amount of
eighty-one thousand dollars, Us follows:
Salt Pond township SalineCo... 800. 2a 900
Freedom {" l.afay't ....... % 900
Davis ..... 10 600
Lexington " ....... u 900
--
Total. wv
Said bonds to be delivered upon the terms
set forth in said obligations, and upon the
consideration that the saul National Loan
Bank of st. Louis pays of and discharges
the Indebtedness Of the railroad company to
Garrison & Courier in the sum of twenty
thousand dollars. and assume to pay for it to
the Pacific railroad company of Missouri, the
further sum OF forty-eight thousand eight
hundred and thirteen dollars, to complete
the construction OF said road bed. &c, upon
terms of contract, made and entered into
with said Lexington and ST. Louis railroad,
and when said bonds are delivered these
obligations to be returned. This Nav Doth.
1871.
NATIONAL oAN BANK OF ST. LOUIS,
By W. II. MAURICE, Cashier.
Received the within named Petit, and
Saline county bonds, as per contract, Dec.
loth' 1871. T.B. EDGAR. PreSt.
Received the within named Freedom town.
ship, Lafayette county. and Davis township.
Lafayette county bonds. as per contract.
Feb. Sd. 1872. T. B. AR Pre.,t-
The balance Of said bonds. fourteen thou
sand, have been sold to Col. John Reid. and
arrangements made to pay the creditors
who hold notes against tho mpan and
have held them for over twelve months.
believing from representations made by this
board hat 80 soon IS said bonds were deliy.
cred, all Of the debts Of the company would
be paid, for which we believe We have ample
means.
Below you will find q statement Of all the
money sud bonds that have coma into our