The Rock Island daily Argus. [volume] (Rock Island, Ill.) 1872-1873, 1873-03-20

/ NAlN AAEtlA " hSN NlG tbttA lbA an t'''' i'' I
Instead then, of having no competition
there is scarcely road in the country
which had more.
All the foregoing statements N the
pamphlet were, in fact, mere fraud, got
ten IN for the purpose Of selling the
bonds, The public was thereby induced
to invest its money in them at an average
price of about IS or 90 cents on the dollar.
and now, after the lapse Of only Is
months, the ring, or the company, pro
poses to issue another million Of mortgage
bonds for the purpose Of paying the hoat-
ing debt created during that time ana ol
properly eQuipping the road Inc Na'ue
: Of the proposed mortgage security Is in'
portant to the purchasers OF the bonds
G That value is now represented by the /
stock of the company, and the last trans
;. action in that stock which is known to
d have occurred, was the purchase OF one
o share bv the President Of the company, a
! few days ago, at 10 cents on the dollar,
i which is all the interest he has ever been
known to have in the road for the five or
u six years he has been its President.
These parties may be able to get this
million Of bonds into innocent hands and
thus create a prctext for taxing the indus
y try Of the country still more enormous
transportation rates.
II With the view Of holding the railroads
il in check the new constitution Of this State
prohibits the watering Of railroad stocks,
u b. providing that all fictitious increase of
!" capital stock or Indebtedness Of railroad
Is c5rp1rutilns shall heyoil l. il posi-.
- bic that there Is no remedy for such 81
'e transaction as the Peoria company nW
as proposes to- make Shall o'u whole ra'l-
ne road system be brought into di>rcpu,t by
Us such transactions? And will it finally
10 have ta ho wiped out as nuisance
ut Mus, our railroads which are fairly man
ID aged if we have amy such O. dowa in the
re-, storm. which is being raised hy the yeo-
ro. maury Of the land against the impnsjtions
.u' {, which they have u submit? And can
ne not respectable railroads combine an! put
he stop TO these ~hysterine proceeding?
I'd. It was proven before the legislative
'ai committee that bat IoUr roads in this
he STATE were earning regular dividends "a
n. -. ..'1a,r ,.;1 ,.,.,a trat RI, +,
,1. ......m.,....'1 ~. IN. ps.ri, WI. never
"a. ..t,rrIr,.. pu.,r., the Is month. il
ea has bean running. Is has received nearly
f. ....f. ......... p..... d.. p..lc.,l r...5 Err
az H., -. 80 g.. t~,.g r-,ro This lit.
ON b. p-;.- T.. n.r.. p ue- tba interest
peg ,,, .,...t..1 NJ H. L,rHs aul =.
Ill.,. ...,.. ,.-....;. ,.,. cvna,lel ,.,.-ar.
u.s. .a..,.. .,.,.. 81. ,.,i,., i. IN re.4ir Ia.
ny .l..i.. t.-;,.... AMI ,r..f ..gsr .g.f r.r
loI b., ~ ,tarI..1 ,-, f.. g., .l., ,.r.p. Il cr,
anil r.;,..,r.. r,, g,.l.r 81 atr.,arr La
cru L...' .lr....1.... 49,, Liza. p, ,.,,,5na.
Ia. ...r......,i..,..,.. ....... ...,.r .-,...o-.
,al ........... ..,.,,. f....,.... .r... .-.v .a
r.n a.. ,.... e...:.. I'LL. t....... o..
.r-- ..r...r.. f.. ..-..t. =. ,..l.
the .....,..,,..t,.... ,...,.s..,, Il }....
The rt..f .l.-..,-.. .....-
.at. anal. ..a..-.-t.. nal
sing. -. ..r ,..... ..,..t..
ult' I'm, ..l,...1.g
ur,. wv. .... .fl... all,
any en-. .u.,..,.. IA, 4
eats -, ..,,r' t...,.......,,,,1t,. Il. ..,.a,.
Inc ..,........,., r.-..r. ....n
with 1900 -. ,l.r... -.,,.,.,, +. r-.r
rate. .. ,....:..'.t.... H.. ,...-..r ,., =,
Irec f....r. LII Ia ,n,5 ,I,.t IN. .,,r
cost .,.l l,.I1 Ir,,.. n .onr.l r.-gro e..
ID iu ...r.a.- anal .,st ,r. r..,I ..rIs 9... .n.
stock ....1 f.,. ,ar ...r.r If. H.. -r,.. receipt
-t...........,. ,..,.,ll ,,..,...,
tlat. --,~.u.,,--,r over s>.,.a. DER mile. II
the .a ..,.l which il ,pl.. uaia Lr oh. M.
the .u,,l r.... ..r r. ,lf. ,......,,o, mail
and III. ...... ...,.. ,..,r. .. ..r..Irrs,la