Rensselaer Semi-Weekly Republican, Volume 40, Number 47, Rensselaer, Jasper County, 18 February 1908 — Old Delphi Debt to Be Discharged. [ARTICLE]

Old Delphi Debt to Be Discharged.

The city of Delphi, Carroll county, has arrauged to have the banks of that city take up bonds to the amount of $22,000, that have been outstanding for the past thirty years. The bonds were given by the city in 1878 to settle a claim the Monon or Air Line railroad had against that city for a voted aid in the construction of the road. The proposition had been brot to Delphi to vote a $75,000 assistance, with the understanding that the railroad shops were to be built within a half mile of the city. The road was built but the shops were built at Monon and after a long legal battle it was decided by the courts that Delphi should pay $25,000. They had already paid $3,000 in cash, and they gave 30 year 7 per cent bonds to raise the balance. The name of Alfred McCoy is associated with the Influence brought to get Delphi to vote the tax originally. During the thirty years $46,200 has been paid as Interest Delphi would have gladly discharged the debt many years ago, but It • was provided that no part of It could be paid for 30 years. So that Delphi has in ail paid out $71,200 in addition to what the litigation cost them, for the Monon railroad.