Knoxville journal. [volume] (Knoxville, Iowa) 1874-1986, 1875-03-04
Knoxville to Have a Rail
road "
II We do Our Duty by Raisi =
the Stock.
Only sss,OOO Required

a contract with the Quincy & st. Paul
Company, binding the latter to build
a railroad to Knoxville, and have the
cars running thereon by the first day
of January next upon condition that
the sum Of $4,000 In stock can be
raised between here and Abba by the
9Th day of April next.
| Mr.. Buell., Vice President and Cen
eral Superintendent Of the @. Il st. p.
Co., was present ut the meeting. ac-
companied by the Assistant Engineer
Mr.. McNair, and the General Agent,
Mr.. Thompson. Mr.. Buell. addressed
the Board, giving statement of the
condition of his Company, and assur-
ances satisfactory to the Board that
the @. & st. p. r. r. Co. has not only
the desire but the ability to fully COM
ply with its part Of the propositions
submitted by him to the committee at
Abba on the 27th of January last.
After full consultation in the matter
| the following resolutions were offered
by Mr.. Casey:
Resolved, That the proposition sub
mitted by the Quincy 4 st. Paul Rail-
way Company, Jan. 27th, 1875. be and
| the same be accepted, and that the
President and Secretary of the said A.
| X. & ID. r. r.. Co., sign and seal with
their seal said proposition this day.
Further, RESOLVED, That the Presi-
dent of the A. X. & d. r. r. Co., and
the president and General Super
intendent of Quincy e. st. Paul Co.,
now present, agree on two attorneys
to draw up the necessary contracts be-
tween the said companies, agreeable
to the proposition above named.
Further, ResoiUed, That the Presi-
dent and Secretary of this company be
requested to fully sign and execute
said contract on behalf of this COM
| pany, when said contracts are so pre-
pared and made ready for said sigma
lures, and submit the same to this
Board for approval.
These resolutions were unanimously
adopted, and the propositions made
by Mr.. Buell. thereby accepted, as fol-
lows:
PROPOSITION OF THE QUINCY & ST. PAUL
RAILWAY COMPANY TO THE ALBA,
| KNOXVILLE IL Dies MONIES RAIL ROAD
| COMPANY.
First.-The Abba, Knoxville 81 Des
Moines Railroad Company shall cancel
their present bond and mortgage i'm
way satisfactory to the Quincy Il st. Paul
Railroad company, and shall issue on
their Road a bond and mortgage not to
exceed fifteen thousand dollars per mile
for main and side tracks. Said bond and
mortgage to be the same as the Quincy &
st. Paul bond and mortgage, to have the
same trustees. to run the same length
of time, to bear the same interest payable
at the same place and in the same man
ner and in all respects to be approved by
the Quincy & st. Paul Railroad Com
pany.
Second.-Further, they shall issue
twenty thousand dollars of stock per
mile, for main and side track, said stock
to be issued under the direction of the
Quincy Il st. Paul Railway Company, as
per style of stock and amounts and class
OF same. Said stock to be issued and
ready for delivery at the same time as
the bonds above mentioned.
Ihi,d.-The A. X. & d. r. r. Co. shall
furnish free and uninterrupted right of
way 100 feet wide, except where deeds
have been given, for the entire length Of
main and side tracks.
/ Lyn,,.1L rho II a, n ID ID ~
shall raise subscriptions as follows:
On DIVISION BETWEEN ALBA AND
KNOXVILLE.
Ist. Township Tax $4,000, payable as
per conditions as voted.
I'd. In good solvent notes payable when
the iron is laid and the cars run from point
tTies) $4,000.
3d. To complete grade and bridges,
same class of notes as last described
$4,000.
Division No. 2, from Knoxville to
Garlic, (27 mies.) The same class of
subscription, to the amount Of Sl65, 600.
In consideration Of the foregoing con-
iitions being complied with on or
before the5th day of April, 1875, except
the $l65, 900 for the I'd division, which
shall be raised by April 5th, 1876, the
! Quincy s. st. Paul Railway Company,
will enter into a contract TO lease the said
Abba, Knoxville Il Des Moines Railroad
for the period OF ninety-nine (99) years,
complete the grading, bridging tieing,
iron, equip, build all necessary depots,
and put ;n operation in first class style
all of that part OF said road lying be-
tween Abba IL Knoxville OH or before
the lst day OF January, 1876. And all OF
that portion Of division No. 2, between
Knoxville and Garlic. on or before tho
LIST day Of January, 1877.
All the above bonds and stock mention
| ed in the first and second sections of this
proposition shall be issued and placed in
the hands Of the Trustees of the bonds
therein named. sabject to the order ofthe
n.siray - Paul Dasl.vorv r<.s, IN :,