Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1892-08-18

corruption with respect 20 the bonds issued in
behalf of the southwest branch of the Pacific
railroad is equally discreditable to the party
then in power.
The company having made default in the pay
mont of interest due July 1. 1861. on the $780,
90 of bonds issued in its Gid an act was passed
and approved by Gov. Fletcher, February 10,
1866. providing that its property be sold by
commissioners TO be appointed by the govern
or. This was accordingly done May IL, 1856,
TO Gen. John c. Fremont for IL 10000, on con-
dition that tie road be extended to the western
boundary of the state. as was intended to be
done when the road was projected within five
years. The requirement was unnecessary, as
it was plainly seen that such extension
would make the road one of the most valuable
lines in the west
BY the terms of the act one-fourth of the pur-
chase money was to be paid on the perfecting
of the sale and the balance in five annual in
stallments. In June, 1885, $500 in bonds and
coupons were accordingly paid 10 the state
but dafault being made in the payment of the
annual instalments Gov Fletcher ools posses
sion Of the roI / AMI appointed Gen. Clinton Is.
Fisk TO operate IL An act was passed and ap-
proved b. Gov. Fletcher March Il. 1868 the
first section of which declared the property
forfeited TO the state b. reason of Gen Ere
mon : default and vested tine title in the state;
and the second section of which granted this
railroad and all lis franchises, free gift, to
4 c. E:l-lanl /: Co, Gen. John 3 GRAY, Gen.
Clinton b. Fisk ct al, on condition that the
road should be extended to the western boun-
dairy as Gen. John C Fremont had agreed to do
when he bid 81, 10000 for the property. AS
free gift, and get Mai. Warner says, the roads
were sold in open market" He should have
said MY friend and patron. Gov Fletcher,
was very literal man and in moment OF i'm
pulsiye generosity he gave away 10 few of his
frie1ds little railroad on which the state had
a liep of :6,52}1IJ.' That would have been
closer to the truth than what he chose to DELHI
erateir say.
The STATE had "a first lien upon this property
to secure :he payment of this Indebtedness:
Six per cent bonds. -..-..........s25S $50 coo
Seven per cont bonds l1O0)
Maturcd Interest to date of gift........ aV23 40
Total $500. ........................s5, 5aa77J
OF this vast sum the state realized only the
S325.0 }e paid by Gen Fremont thus losing !6,-
1870 which the taxpayers of Missouri have
been compelled to pay This property now
known as the St Louis & San Francisco rail
way. with its land grant of l,Oil 90 acres, then
very valuable, was by the act of March Il 1868.
given away to the leading republicans named
on the sole condition that they would com Iete
1t TO the point proposed by the original compa-
ny, when such completion was essential to
making The road valuable and remunerative
property.
II has been shown that the republicans
abated more than cle-haIf OF the states claim
against the railroad company at cost TO the
company OF 1872 ls6 Ito enable Us 10 20 before
the party indOrsed by men high in the faith
but the record leaves the people to conjecture
what arguments must have been used 10 induce
the republican house senate and governor to
give away. as free gift. valuable property on
which the state held first lien to the amount
of SO. 5,3,170.
The North Missouri .sSold" For 5000. 900.
The state had n lien amounting TO 6560,0O
or the North Missouri, now the Wabash and