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 ,
