Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1878-03-07

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fault in payment of interest for one
year, ground for foreclosure upon
the property of the road.
| The reader can calculate for him
self. Let, The probable gross earn
ings of the road-tha running e. pom
ses--repairr, occasionally bills for
losses, damages, etc. to patrons-and
then array against this aggregate the
accruing semi.annual interest of 5
per cent. on one million OF dollars in
outstanding bonds.
i We have also seen a sample of the
scrip given for right of way and
other purposes to which allusion is
made in the prospectus. This also
contains lien not only upon freight
transportation but passenger fare
under the Same limitations. So it
can readily be perceived, that the
tplan pat forth and SO far executed
looks to building up upon sandy
foundation, a vast pile of credit OBJ
tanned from persons and localities
which are now carrying eli the bur-
dens of poverty and taxation they
are able TO bear.
The plan contemplates q with
| drawal of patronage from the M. &
st. T. Road, and not to act as a
feeder to it as alleged. 1t would
therefore be for the Interest of that
Go. to get possession of il 10 some
way-and then dismantle it, rather
than favor it, as claimed.
We have aimed to be iignifed as
we'll IS just while discussing the
merits of this case and shall therefore
omit to mention some things bearing
upon the question less dignified in
character, which might in rough
and tumble fight be brought ont to
the advantage Of our side. @.
sThe officers of the Chicago and Tomah r
| r., are as follows:
DIREcroRs-Enoch Enochson, Albert Bliss,
| Vernon County Ralph Barker, Ralph Smith
| ,. j. Foster, ID. K. w. Williams, Crawford
county; VIM Larrabee, E. II. Williams Fay
cite County, Iowa.
\, EXECUTIVE 0FFIcERs-D. r. w. Williams.
| = 'NS.NSHet ~ - toceSi3 iSS ttSlucHt, ipl
Smith, Treasurer; l. NJ. Culver Secretary :;
| T. Flynn, Superintendent of Construction W.
| l.. Richards aud Theodore Allen Engineers.
| AGENTS flor Purchase of Iron, Equipment.
and to negotiate Bonds and notesl-D. r. W.
| Williams and John w. Varrel
Having given the foregoing article,
relative, to the "Chicago and Tomah
r. R." my earnest and careful: con
sideration, fully concur in the senti-
n ents of its author therein expressed,
and sincerely hope it may meet the
unqualified approval, at least, impair
tial perusal. of those taxpayers, par.
ticularly OF Grant County, on whom
said road is wholly dependent for an
existence. Especial attention should
be given that portion of the communi
cation respecting "certaln classes"
that are ever ready and willing advo-
Gates Of like schemes; the Financial
condition of the road" and mode of
obtaining aid therefor, whether by
fraudulent practice or otherwise. In
what manner does the "Chicago and
Tomah r. r." company, without cap
ital, and not dollar of its own, to my
knowledge, invested in the enterprise,
contemplate obtaining the requisite
amount necessary for the construc-
ton of its road, when chapter III,
Laws Of 1875, relative to narrow
gauge railroads, provides that "No
county, city, town, village, or other
municipal corporation shall grant to
said railroad company an amount in.
Guiding existing Indebtedness, in the
aggregate exceeding five 90 per cen
tum on the value of the taxable pro-
perty therein, to be ascertained by
the last assessment for state and
county taxes, previous TO the incurr-
ing of such indebtedness" Also, as is
most invariably the case, town bonds
are negotiated at 10 (and often 25)
per centum below the face value there
Of Furthermore as perhaps few are
aware, the corporators Of the above
named road were and are at present,
with the exception OF its SO called
president, residents of the state of To-
wa, having apparently no interest
in this state other than this particular
project.
Farmers let us each carefully and
judiciously weigh, in the balances OF
reason and discretion, the merits of s
prospective road. Will the value of
our property by the building thereof,
heavily incumbered by taxation as
would necessarily follow be enhanced
or diminished =? Are we not already
overburdened with taxation and nee
essary expense? Is it not true we
are suffering from a decline in the
prices of produce, and blighted hope
our only consolation for the future !?
Many of us deeply involved, and not
a few whose liabilities exceed their
resources? When the proper time
presents itself, .. e. when we are sofii
GENTLY able to advance aid in such
direction when we are guaranteed
the completion of road proposed !;
when a perfectly reliable company
whose moral integrity and peouniary'
ability stands undisputed aud, sum-
marily, when the basis of projected
railway is founded upon an entirely
different principle than that of the one
in question, then to the same will be
given my good will, and, by all hon
orable means, assistance.
d. T. PARKER, Jr.
Boscobel March 2, 1878.
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