The Wichita city eagle. [volume] (Wichita, Kan.) 1872-1883, 1877-03-22
RAILROAD Meeting.

The railroad meeting which had
been advertised TO take place on the
Goth inst, was called to order at two
O'Clock p. m, by Hon. John Kelly.
On motion Sol III. Kohn was elected
chairman and NJ. W.Levy secretary.
Mr. Thomas f. johnson, of McPher-
son county, gave detailed history of
the proposed St. Louis, Fort Scott &
Northwestern railroad. The company
asked the credit of the counties
through which the road passes in the
following manner: $500 per mile is to
be subscribed and paid in cash, the
citizens along the line having the first
opportunity of buying the stock. If
not purchased by them ST. Louis cap
italisis are ready to take il themselves.
Counties are asked 10 vote bonds, at
the rate of 81 900 per mile. bonds to
run for twenty-five years and bear in
terest at the rate of seven per cent.
per aunum. These bonds are to be
placed, in escrow. into the hands of a
trustee to be agreed upon by the rail
road company and County Commits
sione.s of the various counties through
which the road passes. The bonds
shall not be delivered until ten miles
of the road shall be completed to the
satisfaction of the Commissioners, who
shall then issue their certificate to the
aforesaid trustee, nor shall these bonds
bear interest until SO delivered. When
ever ten miles snail have been COM
pleted $40, 900 in bonds shall be deliv-
cred; on the completion Of ten miles
more 10000 shall again be delivered,
until the line shall have been complet-
ed through the county. These bonds
will be sold for the purpose of grad
ing, ironing and stocking the road. The
company to obtain the necessary
means for stocking the road, propose
TO give mortgage bonds at the rate of
Sc, 900 per mile, running thirty years.
The counties voting bonds will re-
ceive, in lieu of their bonds, delivered
in lots of $4,000, the second mortgage
bonds of the company, dollar for dol
lar. bearing interest at the rate OF
seven per cent, and becoming due five
years before the the first mortgage
bonds, giving the holders of the sec
ond mortgage bonds five years to fore
close on the road and sell it, subject
10 the first mortgage, if deemed ad-
visable to maintain their just rights.
Mr.. Alexander, of the firm of Alex
ander & Edgerton, of st. Louis, rail
road builders, then addressed the
meeting. He said the bonds aud mort
cages could be sould for enough to
build the road, grade, tie and iron the
same; build switches, depots, and
thoroughly stock the road, The pro-
posed road is a narrow gauge, con-
Meeting at Lebanon, Missouri, with
the "a & p. TO ST. Louis. From Leba-
non IL will run to Fort Scott: from
thence through the counties of Bour-
bon, Allen, Woodson, Greenwood,
Butler, Sedgw wick, Reno, Mcpherson
and Ottawa to the crossing of the
Kansas Pacific railroad.
Mr.. c. c. Hutchinson then addressed
the meeting at some length, showing
the vast Importance of competition
and the benefit of having an outlet to
St. Louis. Mr.. H. made forcible.
practicable and telling argument in
favor of the narrow gauge system, and
the necessity of another line of read
through our valley.
The meeting adjourned to 7:3o p. m,
when the same gentlemen again ad-
dressed the meeting. During the af-
ternoon and evening the subject was
discussed by many of our citizens, who
were present, including Hon. John
Kelly, w. C. Woodman, S. ii. Kohn,
I. NJ. Lane, j. NJ. Balderston, a. Har-
ris and d. Hays.
Before adjournment the following
resolution was offered and unanimous
ly adopted:
ReSotred, That the people of Sedg-
wick county are in favor of the con-
struction of the ST. Louis, Fort Scott
& Northwestern railroad at the eari-
est day possible.