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About The Conservative (Nebraska City, Neb.) 1898-1902 | View Entire Issue (Feb. 15, 1900)
Conservative * 9 PACIFIC KAII/WAY COM PANY. TFlrst Annual Iloport and Circular Mndo 1808. The citizens of Nebraska Oifcy , having lost tlieir customers from the mountains and the plaitis west of us ; the farmers having lost the western market for their corn and other products of their farms , by the building of the Union Pacific Eailroad from Omaha west , there was a strong and earnest desire on the part of the people for the building of a railroad west from Nebraska Oity , through Otoe county , to make a connection with Lin coln , the capital of the state , and also a connection with the Union Pacific Rail road , to restore or regain a portion of that trade for our merchants and farm ers which belonged to them , and bring back that trade that was once the stim ulus to every merchant , mechanic and farmer in Otoo county. That desire was manifested by presenting a petition , signed by a large number of tax payers in the county , directed to the county commissioners , in November , 1807 , ask ing the county commissioners to call a special election , allowing the people of the county to vote on a proposition to issue county bonds , in the sum of $500- 000.00 , as voluntary aid towards build ing a railroad from Nebraska Oity west , through the county. The subject was discussed by citizens before the board of county commissioners. At the sug gestion of Chief Justice O. P. Mason , the sum was reduced to § 150,000.00 ; he saying in his remarks , that the county could well afford to give the amount of $500,000 , but he thought that it would be policy for the county to appropriate the sum of $150,000 at first , then appropriate the balance as the work progressed. The county commissioners adopted the sum of $150,000 , and called a special election to be held on the 21st day of December , 1867 , and submitted the proposition , of which the following is a copy of said proposition and notice : Special Election. To the Electors of Otoe County : Notice is hereby given , that in pursu ance of and by authority of law passed by the Legislature of Nebraska and ap proved February 12 , A. D. I860 , and under a resolution of the Board of County Commissioners , adopted No vember 18th , 1807 , an election will be held , at the usual places of holding gen eral elections , in the several precincts of Otoe County , Nebraska , on Saturday , December 21st , 1807 , from 9 o'clock in tha morning until 6 o'clock in the after noon , for the purpose of determining the question : "Shall the County Com missioners of Otoe County , Nebraska , issue the bonds of said County for the sum of $150,000.00 , redeemable , at the option of the County Commissioners , at twenty years from date or less , and for the payment of interest and to provide a sinking fund for the redemption of said bonds and interest a tax to bo levied an nually until all said bonds and the interest - est thereon shall be paid. The said pro posed bonds to be issued to aid in the construction of a railroad from the Mis souri river westward to the Otoo and Lan caster County line. " And the ballots vo ted at such election shall be written or printed in the words following : "For the issue of $150,000 bonds for western rail road in Otoo County , " or"Against the is sue of $150,000 bonds for western railroad in Otoo County. " And such election shall be hold and the returns thereof made in all respects as near as may bo according to the laws governing general elections. Done by order of the County Com missioners , this 18th day of November , A. D. 1867. Witness our hands the date last named : O. STEVENSON , JOHN ROBERTS , A. STOUT , Commissioners. Attest : G. R. MoALUjM , County Clerk. At the election held pursuant to the above notice , only seventy-two votes in thecounty were cast against the proposi tion. It was nearly unanimous. The repeated failures heretofore in offering large inducements to foreign corporations to build a railroad for us , either to or from Nebraska Oity , also the inducement now offered of $160,000 in Otoe county bonds to build a railroad west from Nebraska Oity , suggested the idea of a home corporation , composed of men identified with the interests of Ne braska Oity and Otoo county , to take the donation offered by Otoe county , together with what other moneys from stock subscriptions and donations of state land that Otoo county and the people in this section of the state would bo entitled to to undertake the great enterprise so much needed and desired by every citizen in Otoo county , and the counties along-the line of the now Mid- laud Pacific Railway. Many of our wealthy citizens refused to take the chances of the enterprise , preferring to give in donations rather than hazard a stock subscription ; but the present stock holders believed the road could be built , and with energy and determination took hold of the enterprise , with the expec tation of eventually completing the Midland Pacific Railway , and placing Nebraska City and Otoe county on the great central route from ocean to ocean. At a meeting of the county commis sioners with the Midland Pacific Rail way directors , after the organization of the railway company , the county com missioners passed a resolution to issue to the Midland Pacific Railway Com pany $50,000 of Otoe county bonds , as voluntary aid towards building this rail way , taking a bond from the railway company , of which the following is a copy : Ilond of Midland I'ltolllc Hallway Com pany. Know all Men by Those Presents , That the Midland Pacific Railway Com pany of the state of Nebraska , is held and firmly bound unto the county of Otoo and state of Nebraska , in the penal sum of ono hundred thousand dollars , for the payment of which , well and truly to bo made to the said county of Otoo , the said Midland Pacific Rail way Company binds itself , its success ors and succession , firmly by these pres ents , sealed with its seal , and dated this second day of March , in the year ono thousand eight hundred and sixty-eight , and signed by its President and attested by its Secretary. Whereas , the Board of County Commissioners of said county of Otoo , did on the sixteenth day of January , A. D. 1808 , by order bearing date on that day , authorize and direct the issuing of the bonds of Otoo county to the amount of fifty thousand dollars , payable to the Midland Pacific Railway Company , or bearer , in twenty years from the date thereof , with interest cou pens attached for the payment of inter est semi-annually , at the rate of ten per cent per annum , to bo paid over and de livers ! to the said Midland Pacific Rail way Company , as voluntary aid in the construction of a railroad from the Mis souri river , at Nebraska Oity , westward through Otoo county , in the general di rection of the town of Lincoln in the county of Lancaster , in the state of Ne braska , upon the express condition that the said company shall faithfully expend - pond the proceeds of such bonds in the location , survey , right of way , grading , constructing and equipping such rail road , and the expenditure by the com pany of an equal amount of other mon eys in and for the object aforesaid. Now the condition of the above obli gation is such that if the said Midland Pacific Railway Company shall well and faithfully expend all net proceeds by such company received for the said fifty thousand dollars of Otoe county bonds so to be issued and delivered to the said Midland Pacific Railway Company , in the locating , right of way , grading , con structing , and equipping of the aforesaid railroad , then the above obligation to bo void , otherwise to be and remain in full force and virtue. TOLBEUT ASHTON , Vice 1 * resident. Attest : ROLLIN M. ROLFE , Sec'y. Signed , sealed and delivered in the presence of JAMES SWEET. rw. S. STAMP , SOcts.T L M. 1' . J I hereby certify the above to be a true and faithful copy of the bond given by the Midland Pacific Railway Company , on the second day of March , A. D. 1808 ,
