Vicksburg weekly herald. (Vicksburg, Miss.) 1868-1883, 1878-02-08
Mr.. Gases ProposIIiop.

Mr. Cases Proposition.
Herewith we present Mr.. Casts
proposition 20 complete the Vicksburg
and Ship Isl nd railroad as q narrow
gauge across Big Black river. We
have already expressed III opinion 10
the effect tina; the proposition should
be promptly accepted. In fact We do
not see why the Board Of Supervisors
did not, on the advice OF their attor.
neys, accep, it at their last meeting. l.
is well enough to be cautious about
such things, bui this matter has been
publicly discussed, and we do no. know
Of o single prominent opponent 10 it
amongst our citizens. The railroad
will be Of vas! benef; TO the county,
and TO secure it The county has only 10
agree 10 reissue ifty thousand dol
lars 10 bonds thu; are ou:. Ii the
proposition is accepted, we mink TWO
birds will be killed with one stone.
A troublesome claim agsina. The coun.
~ will be arranged, AM the .)unly
and city will secure a raj. way that vii.
be Of ~.ncs.;ulable benefit.
Below is given M. Cases offer IN
vIcKsB ~, go,
No. ~ N.k.1t a.I u ~ tNt@..
attorneys for the Board Of supervisors "
Wren County:
On behalf Of the holders OF bonds
Issued by Warren county 10 the Mis-.
sissippi Valley aud Ship Island Rail.
road Company, W. submit the follow.
ing proposition Of adjustment aud com.
promise OF the same, and the suits
pending with reference thereto, to.wit
The holders Of said bonds sha..
accept, in full satisfaction Of thei.
rights, 30 cents on The dollar OF The
principal aud accrued in,eres! Of said
bonds, and in payment lhereofshall Sc
cept new bonds OF said county at par,
said bonds to bear interest At tie rate
oil } per cen per aDnum, pay
able annually on the ilrst day
OF February after the date Of
their issuance, aud annually there.
after, and 10 run twenty years from
--- q sinking fund OF i've
per cent to be provided annually for
the payment Of the principal Of said
bonds; the tax for said interest and
sinking fund TO be payable 10 lawful
money Of the United States, or in The
matured coupons Of said bonds. Said
bonds shall be issued in compromise
OF q judgment affirming the validity Of
the bonds heretofore Issued 10 said
railroad company, to be rendered In
suits nov pending, and in pursuance
Of an Act of the Legislature Of the
State of Mississippi, the enactment OF
which il is expected will be made Tor the
purpose Of authorizing this compro.
mise. Bat this is upon the condition
that the other fifty cents on the dollar
Of said bonds, principal and Interest,
shall DO applied to aid in the cOnslruc.
ton of said railroad, between Vlcks.
burg and the east bank of Big Black
river, and to this end bonds Of like
character shall be issued by said coun-
~, representing said City per cent, and
shall be placed in:.the hands Of a Trus.
tee, who shall be selected Jointly by the
Board Of Supervisors of said county
aud w. &. Case and his associates.
And the said Trustee shall be author.
ICED and empowered 10 deliver to the
order Of the said w. g. Case and assO.
ciates said bonds under the folio wing
Limitations and conditions, to-wit The
said Case and associates shall change
the said railroad from lie present gauge
70 q narrow gauge railroad, and shall
extend the same 10 8 suitable point
within the corporate limits OF the city
Of Vicksburg IS shall be agreed upon
between the said Case and associates
and the Board Of Mayor and Aldermen
OF said city, and also from its present
southern terminus to the east bank OF
Big Black river, and 10 put said rail-
road in substantial repair and opera
ton, fully equipped with sufficient and
and suitable rolling stock for
business from Vicksburg to the
east bank of Big Black river and said
Trustee shall be authorized and EN-.
powered to deliver said bonds az aiore.
said, from time to time, upon monthly
estimates Of the Engineer, as the work
progresses; an estimate 10 be first
made by an Engineer Ito be selected
Jointly by the said Board and the said
Case and a~ssociates,) Of the cost Of the
entire work, including the equipment
aud the bonds 10 be delivered pro rata
upon said monthly estimates; but It II
understood and agreed that this con,
tract shall not be binding on eithel
party unless the State Of Mississippi