The daily Argus. (Rock Island, Ill.) 1873-1877, 1876-09-26
OSTERBERG AND THE FRANK.
PORT COMMITTEE

had been suddenly summoned thereto give
an account of his stewardship. There
we're present 81 persons, representing only
81, III, l20 of bonds. The meeting was
secret-no one being admitted except the
"a persons and a stenographic reporter.
After the smeeting, pamphlet of the
proceedings was printed in Frankfort, 10
German, under the supervision of Oster-
berg, and we have been placed in possess
ion of translation of that pamphlet.
We now propose to give a few extracts
from the proceedings which will prove that
The ARGUS was correct, last SUNNI err,
when it said that neither Osterberg nor
the Committee ever intended to build
the road from Sterling to Rock ford, or any
portion of it,and, also, that Osterberg was
practically kicked out of the presidency and
management of the road.
NEVER INTENDED TO BUILD THE EXTEN-
SION.
During the meeting Osterberg made a
lengthy report, in which he said:
Next directed my attention to other
matters. as the extension of the road to
Rockford as originally intended. but Il
"soos not nsy I'd ca that zoe sooatgd build q
road. but TO stir up those a little that
wanted to buy the road"
In view of the promises made by
Osterberg to the people of Dixon and
along that line, this report to his Frank
fort employers must be pleas ant reading
1t plainly proves what THE ARGUS has
always said, viz: That Osterberg was the
boss liar of the world; that he was an
impecunious adventurer; that the people
who sent him here represented only g
small portion of the bondholders; tina,
their object was speculation; that they
fooled John NJ. Gould, Charley Deere and
a few others in this region, and they aid
ed Osterberg in playing fraud on the
people Of Dixon and along that line, get.
ting them to hold meetings, subscribe mon
ey,go through the farce of breaking ground
for the work, etc., etc. when neither
Osterberg nor those he represented evel
intended to build an inch of road, but only
to use these people to stir up the poo
lines to offer good price for the road
Farther along in Osterberg's report
speaking of the pool lines, he says:
1T is very likely that they may YET
come to offer an acceptable price as soon
AS they see that the first spade is set IN
motion"
How does Mayor Hawley, of Dixon, and
Postmaster Camp and other citizens up
there feel to know that they were tools OF
the boss liar, Osterberg in their ceremony
of breaking ground? 1t cannot be very
consoling to John Gould, Deere and the
Dixon people TO read these extracts from
Osterberg's own report showing to the
Frankfort committee how nicely he fooled
the Yankees"
In speaking of the Chicago & Pacific
Osterberg said;
The road is bankrupt. / have man
aged it that our attorney, who is alsC
the attorney of that road, one hour befor
at 10ent into the hands OF receiUer, mad,
"A contract with US for period of twent!
years, ETC., etc., as to carrying freight.
This, of course, was part of the sam,
swindle he played on the Dixon people
In another part of Osterberg's report
speaking of the people between Sterling
and Rockford, he says:
'"The people along the road were yer!
enthusiastic for the building of that roat
and many public meetings were held il
'furthering this object. As | think tina
nobody has any objection to anybody
building a road 10Th their oacn money.
proposed to the people that if the,
would" ETC., etc.,
And then follow lengthy detail
showing how he proposed to induc
those people to build road and give it t
him--that is the practical result The ST.
insinuation is plainly made in the extrac
above When Osterberg concluded, Nh
Schumacher said:
Il have to remark that we as commit
''tee have nothing to do with the proiec
''of an extension of the road to Rock
ford"
DR.. Foster said;
''All of this stock belongs to us wit
''the exception of very few shares tina
had to be giUen to the directors, as a mat
ter of form, in order that they could b
directors.
Gould, Deere and the rest were tn
tools, with few shares of stock presente
to them, and they signed a paper givin
Osterberg power to accept their resigns
tons any hour he pleased. This is tn
paper Captain Robinson refused to sigr
but Gould, Deere, Brewster and other
did sign it and lent themselves to the pre-
ject to help Osterberg fool the people b.
tween Sterling and Rockford, in order t
induce the pool lines to bid higher price
No road was to be built.
In remarks made later on, during th
meeting, in discussion regarding the ne,
company, Osterberg said:
THE directors appointed by me will, o
demand, resign at any time.
Every director Is obliged to resign wher
lever you want it. Every d
''rector, Cd demand, has to resign HI
office"
At another point in the debate d.
Schay said:
1.-THE document drawn up by our alto
'ney was attacked in court by the Robin
''son party, who declared that we ha
appointed mere men-of straao for director
who had to resign when we wanted i
land the court decided that This rras FL