, 1875-02-24
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.1nrludlug s7on,ouo to anlsh Turkey Alvor Branch.
t1nainding SO, 600 for completing.
otc-The coat us tho !aat three roads aboye includes
rs.Ga 10 Chicago Burlington X Quincy nboye, a for
tue road o'ly, they having no equipment or maehne-
thup1.
Company has beell compelled to pns bonda upon
tho Inalkat III order to control rouda building
ucross aud parallel to It, for tho purEoso Of TUX
inY away its bunislcta. Those wera l1or cent
bonds, and we're takon at 10. Theae roada were
projected. extending 900 miles north and 2oo
mloB wcst from point 80 miles above Du.
bu1ue, and would command. ultimately, an iul-
meuss business. The object Of tho Chicago.
yur'ipgton 4 Quincy Company waB to secure
to tho Board OF Directors Of tho Chicago, Bur-
llngton i Quincy. aud the renaona why tloy
should give assistance woEo fairly presented.
statomclits Of tie amount Of bl,sinass. aud tho
nmount Of money raised In tho West, wcro giyon.
tho Board. Theso contradictions. were thch
formed, and Alceath. John 4. uurnlnra+ Sidney
Dartlott, Nathaniel Thaycr, John ". Brooks and
j. N. Denniaon uaro glyen Bayen-fourtecnsha OF
tho atock In Que compnnY and nine.fouttecntha
In tile other. Then, June 7, 1871, ]. N. Dannt-
son, Chairman Of tho Board Of tho Chicago, 1ur-
liugtou 4 Quincy Directors, Issued eircu!ar o.
af t. d S saps sG4aaS,' Il a csass a s Ffsa Da5ds
Iliunoaata, stating TINT tho Company lad re-
ce.yel largo local contributions, III addition to
tho stock Payments, to aid In building tho rona.
On March 7, lS72. tho second circular was !Ha,ied
from tho sa1no Office offering to tho hookholdeEa
OF tho Chicago, burlington i Qtlincy 81 50o 600
Of tic honda 0f tito Chicago Elintou Il dubuque,
aud u, ,0oo, 900 Of tl,oso of tAs Chicago Dubuque
and Minnesota, and stating that tue main line Of
SEASON, and that "b,s.ucss OH tho portion 1T the
road In uKo fully equals tho expectations enter
lnlilel before tho road WaB commenced y; Mud
TINT hath c1ns6eH Ut bonds Hfp "sccured ut the
rate of $a6 00l to tho milo Of welsbll roads Oh
| favorable routes. with business connoctlons in-
| BusinE tloIr succass beyond reasonable doubt !
aud, with traffic contracts, their aoolartios would
sacm 10 10 very deeirsblo for investment"
At tho limo when tho first circular waB issued
| tho Chicago, Dubuque l. Alinnosota Nns Bub}cct
| TO tho very oneroua and oxtr0or dtnary contruot
hetetofor6 spoken Of, and tile amendment OF 4
like character bad been made to the contract on
the Chicago. onton & Dubuque, 1soad 6cfoto
The circulars and bonds themselves limited the
security to mile Of road for every $40, ,0D0 Of
lontls, thes0 contracts wefo ~ fotcs Which wonA
ob1igs the railroad corporation to accept tue
| 1oadif tl,ara nero but ! .ailo OF road to evors
$50, 600 ot bonds. Gould thoHo Directors Of the
Chicago, Burlington & Quincy, who geem TO have
bcen at that tlmo menllcrh Of tho Constructors
Company which hall tleso yoty col,ts sactd, hayt
beou lgnorant OF lilo exIstonce OF those contrnutt
and their provislona !? Agnin iu spite Of tht
circulars and tho bonds Themselves limiting tl,t
iBs,,e to Gu, Gl0 n milo tho DIRECTORS OF tAt
Chicago, Hurliugton i Quincy and Of tue rive
roatib allowed au iastio 70 10 made Of Wucl
necessary precautions 70 Insure tho building
tho road, or tle application OF tho money to tia
purpose. ln short, bonda foE 217 !ni'ea Of Eoas
we're asaAed, while .! thls distance b5 miles wert
ccpieA by tho Railroad Company. fhero wer'
iu addition, however, lo}5 miles Of s!do.trackB
rME DEFAULT on TIE noxps.
Tla conpons were paid regularly through De
| kitn 1,ntttE rfl lu Fr0r
tho sa!o Of tho bonds themselves, mud partl
from the sccetpts OF interest on money sn'
pqpds on hand but not needed for nss. ln tn
case Of The uhtoa1Go. Dubuque 4 Mlnnssota u,
WAS $s72,oU0 while the Chicago, Ciinton |
Dubuque paid &G3, 600 OF intureat from the sam
soutae, The frat default wqull hAvo o0q4rfp.
in june 1878, but tho Chicago. burlington !
d purchased the coupons q thst d.to, and lin
; tho poFiod Of default, ~ lar as tho bondholder
a1e uonoorned, WaY delayed till Doc. !, 1B7s
whils tha Company ssl'l owos for lha coupons Q
uo.. l, 1874, tho Chicago, Burlington b Qutr
cy tuak pnaAeaat0n at tho rlYor rnatia, It hoin
expected! that the arrangement for funding cot
pons aud leasng tho road proposed last aHtuul
arrangement ialI thlau4h. thu Chicago Aa!l'at
. ton 4 Quincy stll retained possession OF I'll
! J.,l. d or 10. ls15. During this nossesulou i
! ta0 lAlcAR0i pHIAHktun = Au!llut knht Gol1pau
I spent upon tue Turkey liver Branch, III gradIls
aud bridging, slUl, ,0lo, for wttch they consldt
Y that they hold > mechanics Leu upon that po
llon Qf The road.
: Tho result is that soms Of tho Directors Of It
I Chicago, burlington i Qutnoy, who wcre ASSOC
. | ated A. members Ut tho Construction CQmpRpia
allowed Mr, 01ayos to mlsappsopriato mont
. enough to hAye completed AMI equipped Il
/ 1oads Asudsomely. inhtoal Of ahabhly aud lnau
1lu,snt)y ~ at present. aud, further than cha
. have virtually poskatea al tho earntnga Of Il
. road slues lB18.
< THE CHICAGO, BURLINGTON 4 Gulkc'
}, ANNUAL MEkTlS1 or TUX aE0QGHnt.nEAa.
: TAv mastIpg pf tla stockholdass OF the Chic
50, burlington i Qulusy lalfoal whsch will
!. held 1t The ottlca Of tho Company TO-DAY psoE
+ ises 70 be N excited and most syeutful on
:, Tho tight againat tho preaeut Directors col
= meucad At poatau By MeaaEs. Forbes and qr'
void will DO continued At this meeting, ~
pastles sre unw svaaly divided, aud It h bard
tall which aldo will win tho l&y, .S!nce Aessl
q To1bos aud driYwold hAvo iBaued their card
I, lhs stookholdess aAkips for their proxies, th