The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1873-04-18
RAILROAD BONDS.

Il nave tried IAlLnIully 10 COn-
vince myself that it is for the best
interests of the city and. county to |
support the railroad proposition
now pending, and have failed. There
are several objections to the scheme,
which might be waived, and / will
only mention the graver ones. 1st,
the railroad company or their as
signs are not compelled TO build q
road from Ottawa to Emporia, or
from any other point reached by
railroads, TO EEnporia. They may
bnild a road from "a point on the
western line of Franklin county,"
no matter where, so it is on the
"western line" to Emporia; and
when so built arc entitled to the
bands. It win be said that it will
be for the interest of the owners OF
the road as well as of franklin
county, to build the connecting
link. Possibly, but not certainly,
OF even probably. Ottawa does not
want a road to Emporia, and yen-
/ ture the prediction that when one 10
built, as it will be, 1t will be done
without the aid of Ottawa. This
part of the second condition, as
published, has, / think, been incor-
porated into the proposition lately,
as never heard it read or discuss
Ell at either of the four public meet
ings held to discuss the matter be-
fore it was submitted.
I'd. The proposition proposes TO
give two hundred thousand dollars
of the county railroad stock, for
the location of the offices and shOps
of this road at or near Emporia.
The company or their assigns are to
be the sole judges of the kind OF
offices and shops they require, and
of the number of men they employ.
They are entitled to this stock if
within one year after the compile
ton of the road to Enporia, the
general offices of the company and
construct the repair and machine
shops of their entire line of road
at or within three-fourths of mile
of the said city of Emporia." How
extensive shops would be required
and how large an army of mechan
les would be required, within one
year after a railroad should be bull
from the western line of Franklin
county to Emporia5 We can judge
of the extent and value of such
shops by the extent and capacity o
the shops of the great trunk roads
through our State, which have beer
in operation for one year or more
We are told that the stock we are Il
give for these shops, is of little o.
no value. / beg to dissent from
, that opinion. fhis county can a
once reduce its railroad debt from
100000 to 100000 by means of it
stock. Or better still, we can hav,
the principal paid at maturity, with
! out ievying one dollar as a sinking
, fund. Or, what may be still. bette
, economy, hold it for a few year
longer, when it will certainly b,
, more valuable than at present. A
all events it is worth something
while we propose to trade it TO
what may, and probably will, b
worth nothing.
Sd. While this proposition wa
under discussion, in this city, be
fore 1t was submitted, our citizen
generally had sufficient confidence
in the local company to believe tina
they would make such arrange
ments with railroad men. as woul,
insure the early completion of tn
road. Lately the fact has transpir
ed that the franchises have been as
signed to man who, to say tn
least, is unknown in railroad o
financial circles, and who is said b,
some OF our citizens who hay
known him for years, to be a mer
adventurer, whose object Is prob
ably to secure the control of on
subsidies for the purpose of specu
lation. 1t is true the bonds are no
to be delivered until the work i
completed, but in the mean tim
we have lost two years time, AM
tied our hands so as to be unable t,
render any aid to real railroad mel
who may desire to build it. 70
these reasons I am constrained t,
! vote against the proposition, be
lieYiug that the best interests of tn
whole people, both in city ant
county, will be promoted by sucl
action. E. p. BANCROFT.