New-York tribune., 1882-02-16

vile, Wis.,. was retained in the directory and
made tbe attorney Tor the corporation. Negotiaons
were at once opened with the promoters in London Of
the Grand Trunk Railroad Of Canada and of the Chicago
and Grand Trunk Railway, just then completed from
Port Huron, Michigan, To Chicago
These London promoters readily undertook TO market
the securities of the company to furnish money to
construct the entire line OF road from Chicago 20 SUI
perOr, total distance OF 4lO miles Contracts that
effect were signed, scaled and delivered. Engineers
put at work the line ana In due con-
tract for constructing siXtyve miles of the north end
lie, having in contemplation the extension OF the hne
Ultimately, TO - connection with the Canada Pacific
Railway AL or near Winnipeg in Canada Inaie prelim-
mary organization Of the Ango-Amcrcan Railway Con-
captai 10 build that extension Tbc managers of the
Chicago, Portage and superior way Company OBJ
)eced to an assignment OF the contract to that cOnsruc
ion company, and in consequence 1t was not trans
Ierred, and the Canada extension was abandoned.
begun about tho Grst of Grt"beT Undor c,Ie 0rlcrs
from the president OF the company In London he
having been assured by the London syndicate that
money would be forthcoming from tue sale of the com
panys bOnls to pay the monthly estimates work
done by the contractor In point Of fact the London syn
dicate has not paid dollar TO the company from
sales OF its bonds Owing 70 the sinking OF
vessel with the bonds board in the English Channel,
bonds not ready for del very until the very day
and hour that the director and attorney the company
attempted To sell out The reasons for all this appear
to be:
Hrst-The wishes of the above named director and
Sceond-The determination Of tho railroad companies
that now 80 despotcay dominate ana control the busi
and legislation OF the great state OF Wisconsin, that
competing line OF railroad shall obtain foothold
Il the state, more especially such IA competitor as the
Chicago and Grand Trunk Railway would prove to be,
extended from Chicago connection with the North
Pacific Railway the west end of Lake superior,
ON the one hand, the great of opula
tion and business OF the cities OF St Paul, Minneapolis
ana taribault, upon the other.
Yet II goes almost without saying that machnations
of this character must Ot necessity naught not
wthsandnE II is the boast Oi one OF these dominating
railroad companies that IL has secured at the last clec
its interest the officers of State large
jorty Of both houses of the Legislature. In the mean
time the Chicago. Portage and Superior Company viii
build lis road first designed, and viii u its stock
holders this valuable land grant, and at the
give the people Uf the state of Wisconsin Wnat
they most deslre-a competing Ene low freght5 and
fair treatment
The merchants Smith & Campbell, who have failed
consequence OF the railroad cOmpany's inability
pay the contractor promptly The 18th OF the mouth,
entitled 10 sympathy. Yet IL must De borne In mind
that they elected at the outset TO Look TO the railroad
company for their pay for goods sold to the contractors
and had they not been precpltate In their action,
they would have received teir pay from the company
By tecgraphic transfer. they have several times be
fore. have doubt that the railway company will
pay h. the utternOst both them and myself Very re-
specially. II. q. ANGLE
Ner 0rk, Jan. %, 1882.