The Cairo bulletin. [volume] (Cairo, Ill.) 1872-1878, 1873-11-01


" stock Of your company" The Cair
and st. LOUIS railroad company said
n Psyson i Co: II will give you $50 0C
Alexander county bonds when YOU buy
grad, I'd the road through the county an
',he balance Of an SO, 200 bond, whe
you have flushed the rosd." P.,son .
C". graded he road through AhI,nde
county. The county paid the c, mpah
the bonds, the company gave the bonds {,
P'y'on Il Co, and they sold them to 4.
money to pay for the grading. We sa.
those bonds are hey ond recall, and caniiu
tie repudisted. This is SO plain = prop,
sill III that to discuss it wuulI be to WASH
time
We did intimate that the road canno
BE- completed unless Union and Alexander
Z uhties sland by the contract. Let u,
~ to make the Sun understand the
M"ssn. Payson & Co., the contractors
have became insolvent because Of IT,.
burdens the constru elton Of this road ha.
imposed upon them. The company NUT
look elsewhere for money to build 1t. Il
the company can assure the holders Of tn,
Hrst mortgage bonds that Alexander aud
Union COUNTIES, and Caro- and .Tonesboro,
will abide by the contract and deliver their
bonds when the road lie completed, there
is every reason 10 believe the
company can sell to these bond
holders enough of the second
mortgage bonds, Of which tho county ana
city bonds are collateral security, TO com.
ple.e the road. At the very outsidt
$500 900 viii finish the road, and tn
"ondhulders would have every reason IL
huy the second mortgage bonds unles-
hey should DO worthless, ~ they wou,d
almost be- if the collatersl security of III,
county and city bond. was not attached
t. them. Nov, Mr. Wilson has declared
in sll the Hn,i-rnilroad portions of ID,
! un'y, ,hst If be should be-
rcIed commissioner, he wOuli not ALLOW
any IN IRE bonds to be issued IN the rail.
Rad company, bu. that he would huvr
cl-red void and tue county wholly re-.
l-nsed from the payment of them We
know Mr.. Wilson denies this, md is en-.
de,v"ring to convince III. people If C,iru
that be- /. not opposed to the rO-d, tut W,
can prove hi. expressions of hostility by
= host of good witnesses true and honor.
nble men. If boards e commissioner,
composed of men like Wilson should be |
elected in Alexander and Union cuunties,
does the 'Sun' believe any capitalists would |
like TO purchase law suits BY
lending motley secureed by bond. to D.. /
Issu when the road Is completed |
Wou rn: they purchase law .uIt., viii |
men rs cnmmis.inuers who had decl.rd !
they wIu M, i..na tho b."ds under ANY I
circumstance VI cuut.e capitalists wuulI /
not advance money on such security |
Therefore W. hU.d, II nj the election Of NJ. |
vi SIN msy defeat the road by rendering
capita let. trmId aud inducing then, To- be-.
llrve money lent to tho company will h-
lost, "r obtained only after Troublesome
aud expensive litigation.
The Sun ask. u: Has the C.iro and
st l. u's Railroad company Performed
its part OF the contract It has. in 81
Tar ~ The counties AID cities are con.
crrned but, because If the failure Of
perform their part Of tbs contract the
company WAS unable to pay Payson &
Co AS promised, and thi. occ.siuned delay
the counties, not the company OF 7. x
Co ARE 10 blame.
Our neighbor enquiries, why we, "a. n
director of the Cairo and ~. Lou. Rail.
'r"ai company, appointed and sworn u
| project inc best INTERESTS OF the people,
, 'permi,,ed any corporation 10 place our
county .. ds.dvanrage
Capt. William p. Halliday wa-
- director "f the & X t. Il. X. Co, when
he contract WAS m.d., aud we ,ucce. drd
him long after. No meeting Of the dirrc'
tors wss held TO our knowhdg. after our
appointment, until last August, and tha'
Wa, after the road had been graded from
Cairo TO St L"u,s, Except n short dis
lance in Union county, and after It.,
nds hsd been issued by the County At,
c''y. The county court and the cit,
couhcil issued the bonds, in accurdsnc
with the contract. How can We then.
that action was wrong, be held responsible
for III Why are We, who had nothiu
g. do with maAing he cunlrac
with p. Il Co., and who had n
opportunity to have voice in IN
"tairs Of the company until the contrsc
h ID been inside, The bonds hsi b,sn Issued
nearly all Of the work done and the con
/, TRAITORS bad become bankrupt, askrd VII
4 zoe painted the people OF this county /
,. D. placed Al oi.alvantsge2 IL til
sun fair?
h The SUI goes on thus:
|. "W,ll he Vhsts us) r,fresh his momor
ana Tell US when Jaige Bros wn. 80 IA
"" Hgah.l the Cairo aud ~. Lousr
20 '""n M'll no also iniurm h,s r-adr r
d why ana '"r ~h.t purpose n pressure W.
bnusht on the county court p
Oar neishb'r i. forsstfu, or he vou',
J. recollcct that Judge Brou "a
|. fused 10 issue bond. TO ei,he
the Q. and V. road or TO tho ,
y and st. l. road, until hs bad been il
n suucted to do So by = vote Of the poop