The daily Argus., 1875-08-28
OsterberR's Story.

nlS storys nc nlts the OiO CleVelanu cOal
monopoly hard rap, which, if we rightly
recollect, was then run and managed by
Capt Robinson and others, who are now
Osterberg's confidential friends and advis-
ers.
What he says Of the iniquity Of The orig |
inal scheme is true to the letter; and, un-
less we are mistaken, he is now trying to
perpetrate similar thing on parties he is
attempting to sell the road to. He says
he bought the road, etc., and that he paid
5000, 900 cash down, etc. We are reliably
informed that he pawned all the bonds
he had control of to borrow the money, and
that he is now trying to rope in some of
the citizens of Davenport, Rock Island,
Moline, etc., to take the elephant off his
hands. We hear that one of the men, Mr..
Williams, of Sterling, says he has nothing
to do with the affair; that he happened to
be here the evening the meeting was held
and was invited in; that he is not one of
those who want anything to do with the
scheme. We also hear that 8. H. Velie of
Moline, says substantially the same thing,
and others too.
Osterberg congratulates himself on the
short time it took to get decree for the
sale of the road; but he omits to say
that. l, false affidavit was made in re-
gard to the time coupons were over due
and that his suit was thrown out of court
on that account, and afterwards reinstated
(really as a new suit after the Henry
county proceedings. and, I'd, that had the
opposition carried the case to Washington
it would, in all probability, have
been decided against him. The opposition
did not think it worth fighting, and this
really gave him three months advance in
time. There was not only no opposition to
his decree but it was helped along by par
ties he thought were opposingi it. So that
his brag about the expedition he made
amounts to nothing.
Osterberg says: Immediately after l
had bought the road, offers came to me
from several railroad companies to buy
the road from the bondholders." Other
parties say that it was Osterberg who So
licited offers for his elephant from several
railroads and that none wanted it at any
thing near the price at which he bid it in.
| Osterberg says; "All they ask is that
they may realize a fair percentage on the
money which they have already lost and
that which it is now necessary for them to
invest in repairs in order that the roac
may be put in good running condition,
: This is certainly modest want. "A fai
percentage on the money they haze alread!
: lost" and that which must be invested t
o put the road in safe condition to use
o In other words: Make the origina
r swindle Of millions, with its 2 million
: interest, good to US by some arrangement
that will give US fair interest on tn
wholel" There isn't sane man in Amcl
e lea that would give over half million fc
the whole thing.
o Mr.. Osterberg says he does not feel il
clined to make the plans of that meetin
a public at present. They have alread
~ been made public and the details Of th
Is scheme published in THE ARGUs,-wit
5 one exception, and that we will now SUI
&c ply, viz Osterberg insists that he shd
haze 100000 IN cash for has services, an
be appointed permanent financial age
I'd ofthe Gondtolders, aoith liberal commission
es out Of the interest money, and reside
Frankfort. This would be fat thing
for Osterberg, but not for the men wi
%, risk their money in his scheme
IS Osterberg closes by saying that he b
L. no fears about being able to make Il
property pay good dividend, even {
lis three times the sum he bid it in for. +
TX has faith like grain of mustard see
of From the opening of the road to the pre-
20 ent hour there never was time when t
road earned enough to spare one Gel
either for interest or dividends. Mr.. Cal
did make one payment Of interest, but
-; road was really not in condition to warra
NV NV that step. That's all it ever paid. WI
w. is its condition? 1t does not own ra
ne road from here to st. Louis. In seve
places it runs over other roads, for viii
it pays rent and is liable to be oustt
u One hundred miles of the line
- claims is in dispute and
~ ~ suit in regard to it is now
Io court. How it will result, Of course
W body can tell. Lawsuits are as uncert
81 as lotteries. We are told that the suit
~ very likely to 90 against the road. At q
~, rate there is a risk about it. The ties a
m bridges of the road are rotted out, and [
y" the iron is worn out, so much 80 that
road is not now considered safe. The ii
der bridges and most of the iron should be
ing newed. The road is not all fenced,
has it good depots at all its stations, and
some it has none of any sort. The ril
,ia, of way over the whole line is not secur
in and it has several lawsuits on its hal
the tor damages, ETC., etc.
ide There is no need to deny these facts,
to they are known of all men. There is
of man or company that can take the rC
tier as gift, Rut i: in proper repair, and IL
,ta. make even running expenses, without v
,pv favorable arrangements for Chicago b,
ers ness. As an independent road, with
in eastern outlet, and no arrangement to t
inc freight through at as low rates as