Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1873-10-29

TnR RAILROAD QUESTION. NO conn
~ In the State needs Railroad facilities more Than
ours for It's proper Development, Both the east !.
ern and western ends Of our county have been
protty we'll iraycrsed over, during the past sum
mer, by engineers aud Railroad parties. whatit
will result in We are unable to say. Tho propo.;-
tons contained in tho following "Rairoad no.
tlce,' which we clip from last weeks Journal we
publish ior the benefit Of our readers.
Tho Pennsylvania and Western Railroad ,,;vc
notice that they will receive subscriptions for
stock of the four following named towns in Clear.
field and Centre counties, to-wit:
Clearheld, Ourwensyillo and Lumber CITY. i'm
clearfeld county, and Philipsburg, in Centre Co..
upon the following terms, viz.
The town which will subscribe, BY respons;bI.
persons, the greatest number of shares, and do.
nate ten acres of ground within one-fourih of n
mhe Of the town proper, shall be entitled to the
machine shops. Shares to be any dollars each.--
Propidtd, that " such greater number of shares
be less tlan One Hundred Thousand (SIOO OoOl
Dollars, In such case the Company have the right
TO accept or reject il.
Terms OF payment OF subscription as follows
Five per cent TO be paid within thirty days after
agreements are signed and accepted, Ave pcr
cent additional within thirty days after com
mencemen, Of work on the line; the balance Of
tho subscriptions to be paid in five equal install
ments, only as the work on the line progresses.
Al tho money subscribed by citizens Of Clear.
heid county to be expended only for work done
on tho line within the limits Of the county.
Each town to deliver its own respective nrono.
sails to tho Company, under seal; and ali to he
handed in to the Vice President at the Shaw
House, in clearleld, on Monday, November iOth,
1873, between the hours Of 10 o'clock, A. NJ. and
o'clock, L. Nj, SAMUEL A COOK,
Vice Prcs't. p. 4 W. Il. II.
The surface indications look fair and business
like on the part OF the Viee Presideni but why
has tho President Of the road, s. C. Johnston. OK
ecated and entered Of record a FIvn MILLION
DOLLAR MORTGAGE on this roadl Is II not
in order to ask this question at this timer
Ia there an individual in our county foolish
enough to subscribe or pay his money for farm,
or house and lot, when 4 heavy mortgage rests
on the ono end Of iti Now, il our people know
before they subscribe and pay their money to the
oflicers of the road that a mortgage of this kind
rests upon it, all right but if they do not know
it and lose their money then IL would not be quite
go right This mortgage looks more to us like
"a pincher," or to prevent the road from being
built than anything else.
As journalist, VIC want to put our readers on
tho lookout, because there are quack rairoaders
as well as quack doctors, about, all Of whom are
looking after their own interests first. We are
no lawyer but, in our judgment, that mortgage
must be satisfied and wiped out before any man
can safely invest his money or labor in the Rail
road in question.
Those who wish to know the whole facts about
this mortgage business need but address the Reg
lister and Recorder at Bcefontc, enclosing
small fee, if they aro unwilling to take our word
GU that point.
Again, Railroad Company that is $4,000, 900
in debt before any work is done will not build
many machine shops soon, unless the embargo in
question is removed.