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Idar t ju f ae i jo •I« fv: -lo t dv •i« f*.u • ;n i* t o *Hi I Vi -;id •* a 1•Mip .-ul e.ni tfiu i »j -iii **t'c a vlt; J .m a ! tb sifc y -i dtiei« c*b :pi •1 * d •uras u* iyta ud □ la ‘83 *i 70 8 .ej 8 jf a inIDt U *3- fl Lb ftuhL sp -:Ii □ iu o w .s if rd ntil* h iu s-t e ul v t « cL t e D:ili y; t u w islt;1 r-1 J T t«i- jjin uJTy ujn -ejtt e»r o aa i-* -a: t,a- i-ft*i t,d u L c b T h r, • IIlt;•Vi VDETROIT d£ M1LWAUKKH H. B,Wo have juat received from Loadoa the Hah, wav TitfH- af 18th July, in which la marked the circular of the Secretary of the Great Western Railroad of Canada to the Proprietory in naffer* ence to the Detroit A Milwaukee R, R- A* the subject ia gne of Buch vast importance to the Interests of ibis city, we may be pardoned if we give the entire eirmiar. Wu cordiallytbuk oar uukmiAui eorrtfnpoud°Jit for his re-meoibrauce of the American, and hope thu vnlue of eucii a document will not be Iciet on oar citizen*, wh» nru au aputiuoic on the subject ol * Our Feny„7? Racine is hinted at, and let Muvv.oik'e beware. Wu tim ■ is lobe lost-— J iU.i BujI biiten palavering and procrastLuatLou. The final offer may cause the prize tu Blip from us. Letuaiiavo **Our Ferry.’5 Gentlemen of the Committee bestir yourselves.ClftKAT WKTEKN of CANADA.While some of our correspondents continue alarming themnelvea, and disquieting their fellow Eb are holders, with speculations as t« the distant ruiu which mwaita ibis under taking, we may refer to the calm yet cou vine lag ftta turn eatju«t issued by the directors. Our opinion us to the failure io the traffic returns is fully borne out by the document before us-, while the remedy if so clearly pointed out that the whole mat-* ter is reduced tu a question of time in regard to the completion of the Detroit ,nd Milwaukee. The facilities offered by that Company to tbe more wealthy holders of Great Western stock are such as to command our admiration, exhibiting ae they do, not merely eoniidenco in the undertaking, but au unwonted liberality to thcee who may bo disposed to hasten a consults met ion in which both partied are interested,— [Editor Ttmes.To the SfuirekolJtrs.GKNTi.EMfc*— It is tDi! duty of the directors to watch tin* sources from which the traffic ou our Lhi« is derived, to- prevent traffic being diverged from it, end. to prom-jte au ace^aeion to it by evury legitimaU: iueaim ici their power.An txiiujuiiitjuu of this ccmpaiy’6 earning lor tile year ending Jan. 31. ld3G, chows llmt the rtccipis w.jre dej.vtd I ruin lblt;‘ lullowing sources :1 I iraltli'., ....... . KSH 995lhrouf.Ii irulli .... oKI.451loml.............................£;tt‘A44GHehcu 'joti^.derabiy mote tanu uiie Iwjf is Ihruugh Ualtic cumin g fiom, and goiug to. Ui-Uuited States, and pa^BiDg over the Greu: Wss.eru in transit. Of this the greaLer part copies over the Mioliigao Central, on its way tour from New York* The city ol Chicago, in the Stale ui Illinois, situated at the amnberii extremity of Lake Michigan, is llit central point where traffic is coucepirabxJ. and whence it b distributed over the numerouft lints raaituing from the city. From Chicago there ate at pres, ent liirco routes by which tu nriiveatNew York city and Eoston, viz :let. By the Mioliigau Central tu Detroit, andtbi-oce by the Welter□ and Now YorkCeiitraL2nd, By the Michigan Souihtirn, ]ia.-^ing by Toledo and Dunkirk, on the southern shove lt;i Lake Frit, aua thence by the New York and Hr*.3rd. By the Chicago, Fort Way no and Pi I Lai buig, through the Mates of Ohio and PeuupyD vana, Htili liirlbor south of Lake Erie, lliii-last runhas beou only recently opi*ucjd.It is evident that ail the traffic arriving at. Chicago has Lhe choice of the*e tJiree dirt me routes to Now York, commencing and ending at the wme pmut, but widely diverging Jrom eucli other. In Captaia D. Gal ton’s report to the Board of Trade M0n the Had ways of the Lulled Slates ot America/7 it is alottd lb at in IbbCy there were 2.933 miles centering m Chicago, and ilit? annual receipts from traffic amounted to Zl(iuU'U4(JL A large portion of tiiiH amaz-iug traiiic conicu either from tke south shore ul Lake tju-p^rinr, or Irom the slates of MiciaehOla, Wiscoosiu, Iowa, or northeru IuinoiH, and Irom puima of the Miseisaippi river north ol Dubuque, and much of it passus through or approachi-e the city of Milwaukee tu arrive at Chicago, u± the only outlet to or from New York.oma portion of the through trullio, which (as already mentioned) following the Michigan Cua tral ruate, and arriving at Detroit, there find,-another channel of conveyance by ateain-bom navigation from that- city to BuUalo. thus diver ting it from the Great Western, and this ruuit-undoubtedly does, during the summer mouths, curry a portion oi the passenger a and good-whiob would otherwise adopt the Great Western —bcuce the great fulling off in our traffic during the season ut navigation from May to Sep* turn her.Under the clrcura^Cances uxplainod by the foregolog outline, the directors of the Great Western have felt it incuuibent upon them tonap *ww f'vp.rhinn tn uhtom l)mt nt nf tmt*La Cro«M and MUwuuke, with extension to St PbuLMiiwankec and WateTtown,Milwaukee and Food dn L»c.Milwaukee ad Lake Superior.Milwaukee uud Horiton.Beloit and Milwaukee.Also railways connec Jug with the foregoing and terminating at Rac no aud at Keuosha on Lake Michigan.The reports received !y the directors m-pectin# thu progress of th - wuiks al Hie tr^JK and Milvvniikco are s tWaulory, The Uqm is npeoi d and eurieug traffic to Uvroobd^Lvtmiy* Hgbi milea li’utn Detroit;* tho rails are laid, and tbu line ballasted u Ionia, forty*seven miles further, whloh aeciiou b expected to be opened immediately, and, Id August, a 1 art her purtkm of 20 miles to Ada will be reached ; and the heaty work la doue. ad the liihi nearly ready for the rails on the retDiiuiog sucliuu u GcAni Haven, to oomplete the total length of 185 imles, die irca being already at New York, or ou iea way to Grand Qavcu.The ipeeily completion of ibo works of fits Detroit and MUwauker being thus Bosured, It only remaioft to assist -hot company In raising means lor procuring tb»* necessary rolling stock consisting of locomotives and paseDgur and goods cariiages and l ucks, cn order to ensure to the Great Wes tern the advaotagee which the directore have auticipa’cd. Iuipreiiaed with the importance of this oljeot, I be English board consented to be nominated ex ofjicw trustees, tor the diapopak of funds urisiug Irom a recent pru-poeed i*su« of 20,000 Detroit ami Milwaukee sharea uf .£10 5«. sterling each, with a boaiw al two mud a ha if acres cf land, adjacent tu the railway, attached to each whare. The proceeds of this issue are intended to be exclusively devoted tu the uq-aLpmenl of ihe Detr»yit and Alii-waukee in rolling stock, ana the construe lion of etutioaa and warekonses not forming part of the Bontraclors7 underUkiug, A pruepuotu, to this effect was pir, into circulation.The land arises froia a grant of upwards of 50,000 acres, conceded to the Didrcnl and Milwaukee by act ot Coiij.ruftHf the United States {Government, and ol Llie Legislaticre uf the Slate of Michigan ; it I* situated adj.locht tu the line, ih iree from al 1 laxaiiua during suveft years, and id mostly uf u fertile qualify fur agricultural pjrpo*--8, with oak ixml pine timber, and ahuutUuq-u uf war t puaer, and its \ulue will, oi couis-e. be gi *atJy increased ly the ueighhur boud uf th«* ! lilwtiy, nud it is not too much tu aPMiuu- that it will not be iuJerior to Lhe .rerage laud in Mu? Huron. diBtrictr hriuugi ing tu Canada Lutid Oumpatiy.Owing to the stringent sinrv of money* the ult'-r ul these free land -hares hu.w bi.ua but par-tuil.y accepted, and ih* uhjecis sotight to he at* tainrd c^mioi be curried oat. But the directors ul the Cheat Wcs-trrn attach so much Iuj pur tanoi*QmFaSa1«sic-PFdaribtu lt;au «*ai !y Cfj-mpletiun uf th:j entire D^lruit ami Milw ditki*e,lhat lliey an induconJ to cr.uke aaotk-ev upplJcatLon to the G vat Western ebar«'kuUi-era to eaiiy cut their v ews in ihe i^^ue uf thane lieu luml haareF, aa tin directura quite coincide *itli Lhuir inauaging di-ector, that in tsell the Di-iruEi. anil MilaaukiM will he a prt»llLaihf unlit*tukink au uii iuve-Uncut. lm*speelive ofihiflt;, the urlditicual trulilc which Mr. Brydges is «u doiroiis ol securing, will, it is expected, ou a very mudtrare estimate, duublu the aaiuu.it ol through traffic over thi Great Wept/rn, andeH-pcciully dunug the su nuaer seasun, when the receipt*- are invumbl^ 'he lowot, atid Ibu value ul Gnat lY-storn stuck uqup!, tburelurc pn'-p^ir-tioijub.ly increase ib* earning*' aud dividends Aiigmeiji; ault;l the dir«-c ur* Irufrt that iheizupur [aiu.ii ui .kCLuinpliKlniig ibis ohj. ct will ju»nfy this appeal.L”ndel- the prueaing enurge.icy ot raising the uec«’riPrtiy JuutiS, the JJ^-i I'm Land Miltvaukue have SAuu^uued the offer iu the Great Wenteru proi IffietorH of u pro rata allotment ut the Freeland »vt. u price equivalent to seventy dive per went, ut then uoruiual par Vului-*, or one share ot 1IM. Tm at 11. 13b. 9d ^lerlin^ pur share, with wh'uh will br delivered a lutul warrant tur 2 1*2acres ol laud; the slian*. moreover, will b«j cii-t!tk*d to n participatEOii in nil profile of th« linein common with the other shares, and ft Do tu interest at bo veil per cmt until the line ta opened. This amount will bo payable as lerilowa:—£2 5 0 per share on acceptii g tbu allutmeut2 t* li %4 1st August.2 0 0 *' 1st September.18 9 “ ldt October.Applicants fc-r Freeland shares, under the prospeciiis furmerly issued, will participate ij this rtductimi ot price, and thu 5usu*ljneuts may j b« ant'eiprtted by the ^iLViti^at of ih« shnr a ia lull at e-icce, which will entitle the buldnra to j inlcrerft at the rate of ^ven per cent, from the date of payment, until tlie entire line is opened. The shaies, as well oh 1 le land warrant?, will be registered and triipfi tred in London, where also dividends nud inter-.Ft. will be paid.The laoda will b« uuld as the piugross of tbe railway enbitneus tlieis value, lor the exclu^iv^ bone fit of the Free lane shareholders ; or boULesuof laud warrants inay solect tbe.r lots froio
Newspaper Details
Milwaukee American
Milwaukee, Wisconsin, US
Wed, Aug 19, 1857
Page 4
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Anonymous
CA 22 Oct 2020
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