Northern tribune. [volume] (Cheboygan, Mich.) 1875-1885, 1878-02-16
SATURDAY, FEBRUARY le. 1873.



fit of all the facts as they transpiret
which have led the public to hope TO
the speedy commencement of this i'm
portant enterprise. At the same tim
it has had very little faith in the success
of the present negotiations. but not wish
ing to throw straw in the way of tina
success, has thus far refrained iron
giving public expression to those doubt
or the reasons which have caused them
We have hoped that these doubts abou
the ability OF the projectors of the pres
ent enterprise 10 accomplish the work
might be without foundation, or tina
they might overcome the difficulties anC
construct the road Time has worn Oh
and nothing has been accomplished tha
we can ascertain. which promises to ;
certainly the commencement OF the worl
in the spring or at any other time. The
TRIBUNE therefore proposes TO give tt
the public its views OF the present enter
prise. The public can then judge fol
itself what We have to hope for. We trust
at the same time that those views may
be erroneous. and that the opening OF
spring may see the commencement OF
the work.
To give our readers a fair understand
ing of the present condition of affairs
we would state that about two years ago.
the large land grant and contract for the
construction of the road was bestowed
by the state authorities upon the Mar
quette. Ste. Marie & Mackinaw Railroad
company, OF which corporation w. l..
Wetmore, OF Marquette, was President,
and ID. III. Ball, of the same place, was
Secretary. This company. "a. the time
of taking the contract, did not pretend
to have the means to construct the road,
or know where they Icould be obtained,
but thought that could they have the
contract awarded them that they could
then secure the requisite capital. In
this the company was mistaken. and up
to the last session of the Legislature
nothing had been accomplished. The
Legislature, however, realizing the i'm
portance of the road to all portions OF
the state, extended the life of the grant
two years longer.
Thus matters remained until Septem-
hox n ob.,. 4, h<.r, Dp
of New York, appeared upon the scene,
and expressed desire TO to take IA con-
tract for the construction of the road,
stating that he was backed by capitalists,
who would advance the money necessary,
should he report iavorably upon the value
of the md grant. He examined the
lands, expressed himself satisfied, enter
ed into contract with the company for
the construction of the road, and
returned east 10 make arrangements
for a speedy commencement of the
work. Very little more was pub
licly heard of him, or definitely OF
the enterprise, until the last Wednesday
in December, when he appeared before
the Board of Control, at Lansing. and
asked tor some notifications of the coll
tract. which included the appointment
of two trustees, one OH behalf of the
state and one OH behalf of the company,
who should, under specified restrictions,
receive and pay out all the moneys
arising from the sale or mortgaging of
the lands. This instead of bond Oh
100000 required ~ be given by the
company for the faithful performance OF
their contract. The request was granted
and the trustees appolnted-ex-Goyernor
Bagley OH the part of The stale, and
Hiram Is. Crosby, OF New York. for the
company. DR.. Lamar stated TO the
Board OF Control that he had money ar
ranged tor as soon a. those notifications
could be made.
Thus the matter stands ut the present
time. The success OF the enterprise de-
ponds upon the ability OF DIR. Lamar 10
carry out his contract. The Marquette,
Sault Ste. Marie Il Mackinaw company
cannot be taken into account at all. Its
President is hopelessly bankrupt, and
The company has no financial standing.
Having much doubt about the ability OF
DIR. Lamar to raise the necessary money
TO fulfill his contrace. and It'll greater
about his having his financial arrange
ments completed, as he asserted, a repre-
sentative OF the TRIBUNE has taken con-
siderable pains TO secure all such facts as
would have bearing upon the case.
The result of these investigations, con-
densed in small space, is something as
follows: DIR. Lamar is man OF very little
if any financial responsibility. At the time
of taking the contract for the construc-
ton OF the road, he had no completed
arrangements for the money necessary.
That he hoped to secure the money with
the contract as lever TO use with capi-
talisss. That at a very recent period he
had completed no arrangements for the
capital. Ii he can secure the money, all
will be we'll, but if he fails, the prospects
tor early commencement OF the work are
not flaItering. and we regret TO say that
tie prospects for his securing the money
ar not in our opinion very encouraging.
Cl the other hand, however, our rep
reseLative understood that Hon. Jas. +.
JOY, MO may be considered as represent
iuU tn. Ni..I.innn Eentral and whO