, 1873-07-17

quarters by anxions and excited specn
lators, each bent upon SECURING enong
own property upon which to realize an
immediate fortune; hotels, stores an
other business places We're extemporizeG
from canvas and rough lumber, and the
town plat swarmed with an excited pop
ulation. The bubble soon burst. When
tie deeds of conveyance came to be
made, it was first discovered that the
town was merely a private speculation
of the Lake Superior and Puget Sound
Land CompanySa ring of spectators
doing business on the. credit and at the
expense of the Railroad, and all the
outside purchasers found themselves
badly bitten through these false pre-
tences. Notwithstanding the large ex-
penditure cf railroad money to enhance
the value of the property belonging to
the ring, there is to dav no marketable
value for town lo's, and not an improv-
ed lot in the town which could be sold
for the cost of the improvements.
The same scenes will be re-enacted at
Tacoma, and that the result will b., the
same no reasonable observer can doubt
With the railroad completed between
Kalama and Tacoma, where is the
commerce or trade to come from to
give Tacoma any advantage over Kala
ma, either for trade or the support of a
population A rail- Dad cannot make
between kalama and Olympia, over the
shortest practical portage between the
large navigable waters which float the
commerce of the divided sections.
connecting populations, would have not
only been public benefit bui practi
cable buiiness enterprise; but devia-
ton, increasing the distance more than
one third to point utterly destitute of
population or commerce, and with no
natural facilities for either. without the
gain of single compensatius advaii-
tage. any one can see can have no othe
purpose than to favor wild cat and fan
cy stock speculations.
The argument that this point was Sc
lected with reference to a connection
with the fine across the mourtains. can
deceive no intelligent man By :eleci-
in the Columbia river route to be frs
completed. the Company virtually aban
doned the more direct ronte across the
mountains. They have not the time.
and they cannot command the means to
bulid both within the time limited by
heir charter-January l, IS77-three
Years from the first Of next January :;
and after the facts developed by the
Ctedi' Mobilier investigation, and the
notorious fact that an equally corrup'
ring exists inside the body of this Coz"
pan IL ~ lOiiy anu iAtttliN'o w VIZ tNiit
upon any further favors from Congress
Ill the way of eniarging or extendin.
their privileges. No, from present ap
ptarances. no othe- conclusion can be
drawn Il an that the land rug in which
are Il majority of the Directors. are only
seeking to feather their own nests, re
oardless of the interests Of the road o.
their obligations to bond holders. and
in utter contempt of the peopie-the
last of which they have shown in ali
their dealings with the people upon
Puget Sound. The inevitable result OF
all this is, that the road will never be
built by the present management.
Let those speculate in Tacoma town
property who have money to hazard Oh
games of chance; but those who desire
to make p, rmanent Investments, will
find 10 their cost, if they buy Tacoma
property now. they have only bought
into another kalama.