Jasper Republican, Volume 2, Number 2, Rensselaer, Jasper County, 24 September 1875 — Chicago & South Atlantic Railroad. [ARTICLE]

Chicago & South Atlantic Railroad.

The Inter-Ocean of last Saturday eays : “The annual meeting of the stockholders of this road was held in this city on Tuesday last. A fair attendance was present. Nearly all the old Directors of the road retired, and a new board was formed, which consists of John T. Richardson, of Delphi, and Caleb Croswell, of Chicago, of the first class : Enoch Rinehart, of. Delphi, and Sam S. Atwater, of Chicago, the second class; and Wm. S. Haymond, of Monticello; L. BSimms, of Del] hi, and Robert Rae, of Chicago, third class. The Hon. Wm. S. Haymond, of Monticelloi Ind. was elected President, and Robert Rae, of Vice President. This road has been for a /ew months embarrassed, hence the change In the board. It was the purpose of the Directors to build the road out of debt, and this was the cause which led to the present difficulties. The pinching times made this impossible, and the company, after constructing a fair proportion of the road, found a floating debt of from $16,600 to SBO,OOO without any cash resources to meet it. The assets of the company were large, but not available—nearly $860,000 of unexpired subsidies, requiring a large sum to be expended to obtain them. That the new board these means caused their election. The sum named as a new subscription is $200,000, and had nearly all been pledged in advance of the election. By resolution, a sum is to be first set aside to take un all matured claims, and for that purpose an auditor is to be appointed by the subscribers to the fund, to audit, allow, and pay these outstanding debts. All persons holding claims against th 6 company are requested to present the same on or before the Ist of Octoberefor allowance, at the company’s office, No 20 Major Block. It is believed, with the new’ fund, the company will be enabled to complete the link between this city and Indianapolis. The new board gave a careful overhauling of the company, and expressed themselves perfectly satisfied with the fidelity of the old officers and the honesty of their administration. In a few days the report of the president and engineer will be made public, and the community can then judge what has been acco nplished on this line within the past year. The enterprise is one of great importance to Chicago, not even second to the completion of the Baltimore and Ohio Railroad.— It will give us a share of that trade of $100,000,000 of breadstufis and meats, which is now pretty evenly divided between Cincinnati, St. Louis, Louisville, Memphis, and other middle cities.