The Tipton advertiser. [volume] (Tipton, Cedar Co., Iowa) 1856-1962, 1876-08-24

THE RAILRoAD.-The Clinton Her.
aid says that, at an enthusiastic
meeting held in that city Saturday
evening, August 18th, the Hon. K.
H. Thayer in response to calls from
the audience said in regard to the
operation Of the road:
The Receiver finds that, iron
enough to build the sixty miles OF
unfinished track can be obtained in
exchange for these certificates, but
other means will also be necessary.
The Receiver can fall back upon the
taxes heretofore voted, and is conf
dent he can build the road in 1877,
but in order to anticipate the delay
in collecting these taxes the Receiver
asks that the certificates be taken,
and with money thus furnished to
commence the work at once, and he
promises, if this is done, he can COM
plete the road to Iowa City by
December lst next. The value Of
the certificates appear from the fact
that the road will be good for $4,000
per mile. Other railways are bonded
all the way from $4,000 to 100000
per mile. 1t was proposed that the
people Of Clinton and vicinity pur-
chase 100000 of these certificates,
they to be payable at maturity by
the company, with accrued interest,
or to be used by the holder in the
payment Of his tax il collected. II
the courts decide the tax not collec-
tible, those holding the certificates
will have their money returned, with
interest, and if the tax is collectible
the certificates can be used in pay
ment Of the tax. The question, then,
was whether we shall make a strong
effort now and obtain the road, or
have it completed by the slow pro-
cess Of collecting the tax.
In answer to question, Mr.. Thayer
said the certificates would be made
to run one, two, three or Eve years at
the option Of the holder.
Mayor Toll submitted the follow
ing telegram and answer, which were
read by the Secretary:
CLINTON, Iowa, August IL, 1876.
To F. L. Hinckley, Chicago.
We have a public meeting tonight. II
we cannot raise 10000, will $4,000 do,
Answer.
CHICAGO, August IL, 1876.
To {. II. Toll, Clinton.
The estimates require $4,000 to go te
| Upton. We must have 10000 pledged
| from Clinton. With this assured, the Re
ceiver can complete the line this fall. Il
| Clinton does its duty, success is sure.
+. E. HINCKLEY.
Receiver Thayer then took the
floor again and made the distinct
proposition to the meeting that if the
SOC, 900 is raised he would offer thi.
provision to the subscribers: Tha'
they pay one-half the amount on the
completion of the road to Upton, ane
one. half when the road is completed
to Iowa City and the Iontoon bri,lg,
is finished.
Hearty applause followed this new
and important proposition, which the
Receiver, from his knowledge Of The
situation, had been enabled to max,
without reservation.
On an inquiry from Mr.. Coan i
this would include the wagon bridge
Judge Thayer said that would de
pend upon the action of the Cit,
Council. Unless the Council viii
make as favorable contract as tina
made with the c. B. & G., the bridg
will not include wagon way. Il,
then read form Of subscription, t,
be used by the committee, whicl
conforms to the terms of the PROPOSE
ton, that one half be paid when tn
road is finished to Upton and one
half on the completion of the roa,
and the pontoon bridge.
Mr.. A. r. Hosford then authorized
subscription of 81 900 for himself an,
81 900 for the Clinton Lumber Company
On motion Of Mr.. Tlerney, the follow
ing committee were appointed by th
chair to solicit subscriptions for the Re
ceiver's certificates: w. j. Young, A.
Ankeny, l. Munroe, Henry Gerhart
Jerome Scofeld and ]. II. Hireny.
Mr.. Munroe in speech heartily q
dorsing the project and agreeing to d
his share by way of subscription, d,
clined to serve on the committee o
account of other engagements. Mr.. !
! q TnU1o ~aa than an hat tutaA