The Crittenden record. [volume] (Marion, Ky.) 1904-1907, 1905-04-21

i
Mineral rights under land far re-
moved from a railroad will never be
worth anything, for the reason that
the mineral can not be mined. Sup.
pose you own 200 acres Of land
located some distance from rail.
road The mineral right under that
lsnu is practically valueless. Let a
railroad run through or near your
land and II is worth from s. to $40 an
scfe-in other words, the railroad
will enhance the value Of your land
from 1900 to $1,000. Think Of this
when asked TO give the right OF way
for the proposed road.
The proposition submitted by the
Chicago CONSTRUCTION Company aud
amended by the committee appoint
cd by the Commercial club, Is as fol.
lows.
SUBSCRIPTION POR BONDS
Articles Of agreement, made and
entered into this lst day Of April,
A. ID. 1905, by aud bstweel the Chi
cago Construction Company, party
OF the first part, and the undersigned
citizens Of Union and Webster coun.
ties, KY, parties Of the second part.
Witnesseth, that for.and In consid.
GRAFTON Of the benefits accruing 10
the parties Of the second part, from
the construction Of a line of standard
gauge railroad between Morganfield.
Ky, and point on the Louisville
aud Nashville railroad system, we.
the undersigned parties OF the sec
ond part, hereby individually con.
tract aud agree 20 subscribe for. and
10 take and pay for, NJ the par value
thefe-f, 10 the manner and at the
times hereinafter specified. the 10.
spective amounts Of fret mortgage
gold bonds set opposite our names.
o. be issued on said railroad, A. fol-
lows td.wit.
When the railroad IL graded the
entire distance between MorgAnfleld,
Ky, AGd point OF the louisville A
Nashville Railroad system, tweaty.
i've per cent. t95l Of the amount sub.
scribed hefeon shall be- due aud pay
able. When the bridges. ttestles,
culyerts cattle guards, toad-cross.
ings, etc, are constructed aud the
road d.bed made ready for the track
an additional twenty-five per cent.
81 shall be- paid. When the track
Il laid the entirc distance between
MorgAnfleld, Ky, aud q polnt on the
Louisville a Nashville railroad sys-
TEN, the third twenty-five per cent.
~ shall be due and payable. and
on the day the railroad IL open for
traffic aud the flrst train IL run Into
the depot grounds, selected Tor Nor.
ganasld, Ky, the remaining twenty.
i've per cent. t25l shall be- due aud
payable.
The said work At IT, various stages
lot progress 10 BE- acceptable 10 the
railroad company. Bu; no part Of
the subscription shall become due Or
payable until the mortgage herein
provided for "a executed BY tho rail.
rond company aud duly put 10 roc.
ord, and the bond. herein subscribed
irt ate placed In escrow In the Peo.
Piles Hank II Morganaeit, Ky.
The above insiallmeuts shan be
due aud payable to the party u the
ntst part a. tho Peoples Rank Of
MotsAnHsld, NY, aud the parties oi
the second part hereby authorize aud
instruct the party II the tirst part 10
draw on them for tho respective In.
stallmenis as they bscome due. uu.
der this agreement, by sight draft.
The party oi tho firs, part agrees TO
have said honds properly executed
hy the railroad company, ALd 90
place the bonds herein subscribed ior
In escrow In the Peoples Rank ot
Mofganfleld, KY {, be delivered 20
the respective subscribers therefor.
when fully paid for. under the terms
u this agreement.
The bonds hetsinbcfors referred 10
shsll b. nrsi mortgage sold bonds oi
tho denomination ~ ono hundred
dollars uOOOl each. sud shall tua
iot term ottveuly ytas with on.
tou " redemption by the railroad
company at any time before ma,uri.
" A. par value aud accrued interest.
and shall bear interest from the nrst|
day Of January, lee, At the rate Of
Eve per cent tbl per annum, due ard|
payable sent annually. aud saidI
bonds shall be secured BY = itstI
aud paramount mortgage or deed
Of trust upon the said rail.
toad, aud all branches aud exten.
sions thereof, and additions thereto.
iaSIsiias, .l-.', sIi railway, right. oi
way, depot grounds, springs, wells
aud water rights, and all lands used
In connection With the operation aud
maintenance ~ the said railroad. al.