Knoxville journal. [volume] (Knoxville, Iowa) 1874-1986, 1875-02-04


gociations with the Quincy & st. Paul
Railroad Company, met at Abba last
week Mr.. Buell., Vice-President and
General Superintendent OF the latter
company, and received from him q
propositian to build a railroad from
Abba to Knoxville and have the cars
running thereon by the first day of
January next upon condition that our
company shall transfer to the Quincy
& st. Paul. company all'its rights and
franchises. including grades. right Of
way, depot grounds, etc., and In
addition pay $4,000 when the
cars are running to Knoxville; or,
strictly, such part of the $4,000 rs Is
subscribed atintermediate points along
the line, is to be paid when the cars
are running to the points specified In
the conditional subscription notes, a
copy of which, In blank, appears here
with, to-wit:
For value received, promise to pay
to the A. x. e. ID. r. r. Co., or order.
at Knoxville, Iowa, the sum of ------
dollars, upon the completion Of said
railroad or any other railroad making
an eastern connection, and cars rum
ming thereon to depot at -, Iowa,
If done within twepty-four months
from the lst day Of June, 1875, with
interest at the rate Of ten per cent. per
annum from maturity. This note to
be due and payable when the cars run
to the depot at --------, Iowa, within
the time above stipulated, and II q rail
road il not completed within that time
to said point, then this note to be void
and of no effect and returned to the
maker.
Upon the return of the committee
from Abba, a meeting Of the A. X. d
d. Directory was held, at which Mr.
Bueli's proposition was considered. A
majority thought the amount required
too large. After the whole matter had
been discussed the Board decided to
agree to Mr.. Buell's proposals, except
in the matter of the amount to be paid
in cash upon the completion OF the
road. Instead of the $3S, 900 asked,
they proposed to pay $4,000 Whether
or not the @. & st. p. company will or
will not contract to build the road up
on such terms as our company has
offered, will probably be known in a
few days. Opinion here is divided
upon the subject. Many think we
should have offered $4,000; Others
would agree to a higher amount and
express serious fears that we have lost
our opportunity for contract by
placing our figures too low. There is
no doubt that we can better afford to
pay bonus much larger than that
asked Of us than to do without 1t. We
lose more than that amount every
year for lack of it. 1t Is time.this fact
Mas understood. ~uG upprecIaJed murs
fully, and we shall before long lay be.
fore our readers some statistics upon
the subject, showing that the portion
of Marion county lying south of the
Des Moines river pays every year, III
cost oftransporting products and goods
to and from the railroad, more than
this road will cost US. Is 1t not better
then to pay directly for the road once
aud get it?
Our readers want to know some.
thing.of the condition of the @. g. ST
IPIroad, and its prospects. From
l|res't Clifford we gather the sollow.
ing information: :
The line is already in operation
from ST. Louis to Quincy, crossing
the river at the former place on the
new bridge. There is also bridge
across the Mississippi at Quincy up.
on which the road will cross
The distance from Quincy to
Alba Is 100 miles; SO miles OF this
distance is graded. The Company is
already under contract to build the
road to q point eight miles this side OF
Moulton, and within nineteen miles
of Abba; and up to this point local
subscriptions, In addition to the grade
right OF way, etc, have beeu secured
to the ;:;noGnt o: 1891 900. The bonds
of the Company have been sold in
Europe at 50 cents on the dollar, and
ii 900 tuns of iron-sufficientt to build
the road to Albia-have been purchas-
ed In Belgium. It is to be delivered
in New Orleans during the months OF
March, April and May next, and is to
cost there S6S per tun. A Railroad
Company that can negotiate its bonds
at % cts. 10 considered pretty good.
And this Is the sort of company with
whom we are dealing. Can we afford
to slight its offers?
SOME of those middle men have
done a mighty good thing for the
farmers lately--paying them eta for