y4
if 1
nr in hi
V
i '4
THE BLESSINGS OF GOVEBSMEUT, LIKE THE DEWS OF HEAVEN, SHOULD 3E DISTRIBUTED ALIKE UPON THE HIGH AND THE LO W, THE RICH AND THE POOB,.
EBENSBURG, APpIL 30, 1856.
VOL. 3. NO. 27.
NEW ' SERIES.
T 15 II 51 8 :
tHE DEMOCRAT & SENTINEL, is publish
ed every Wednesday morning, in Ebensburg
Cambria Co., Paj, at $1 50 per annum, if paid
IS advahce, if not $2 will be charged.
ADVERTISEMENTS will be conspicuously in
serted at the following rates, tii :
square 3 insertions, $1 00
tererv snbseouent insertion. ' 25
square 3 months,
A.
00
00
00
00
00
00
6
12
80
15
6
1 roar
fear,
(C
3usine3S Cards.
OO-Twelre lines constitute a square.
. TREASUKEIt'S SALE,
Of Unseated Lands and Lots in Cam
bria County, A- D 1856. .
I CHARLES -D. MURRAY, Treasurer" of Cam
bria County, in the Commonwealth of Penn
sylvania, in pursuance of the several acts of As
sembly of said Commonwealth, directing the time
and manner of selling unseated lands for taxes,
DO HEREBY GIVE NOTICE, that the following
described tracts of unseated lands and lots of
ground, in the 6aid County of Cambria, or such
parts thereof as may be necessary to pay arrear
ages of taxes due thereon, for one year or mere,
will be offered for sale at the Court House in the
borough of Ebensburg, on the second Monday
beins the 9th dav of June next, and continue by
adjournment from day to day, until the whole be
old, for such arrearages oi taxes ana costs, neces
sarily accruing thereon.
x Allegheny Township.
Wames of warantces or owners.
A.
100
410
810
96
425
120
100
91
120
62
61
100
103
100
812
885
401
r.
44
44
89
Taxes
cts.
6 40
James C. Maguire
Abraham White
1854
1855
12
12
6
20
9
6
6
12
8
2
71
13
40
44
CO
40
91
95
92
38
James Hannura
Eleanor C. lliester
Heirs of Walter Elder
William M'Dougle (part)
Warner Hanuuni
lliffiin Ilannum
Robert Whitehead
Thomas Cloudeadale
Blacklich Township.
J. Jordon
Jacob Fronkoiser
Cambria Towniliip.
James Means
Carroll Township.
Sarah Barr
Wilson Barr
Daniel Barr
Lewis Barr
Wm. M. Adams Peter Sawyer
and James Lyons
Euly Eager
Chest Township.
Walter Butler
Richard Sealy (part)
John Seely
John Myers
James Foster
Henry Dolorier
' Jamos Hunter
Clearfield Totonship.
Mahlon Hutchinson
Johnathan Lewis
Simon Litzinger's heirs
Hilary Baker
William Will
Jesse Bush
Gcorf Horner (part)
John Nagle Sr.
Jacob Cox
William Laraberk
William Tilton
Conemaugh Township.
George Funk and Thos. Vicroy
William Bcatty
Alexander McGregor
James Gill
P. Shoenborger
7
10
10
65
9 18
12S
12S
103
163
20
21
22
21
8
8
3
7
0
20
10
05
60
00
55
54
832
65
100
100
106
400
119
100
405
477
895
413
100
433
233
830
315
9S
875
235
200
106
21 63
8 4G
8
23
6
11
14
6
14
7
11
14
9
12
7
6
10
6
11
14
14
6
7
9
14
1
14
14
14
I
21
11
11
14
5
10
55
73
66
106
91
69
158
154
11
C9
90
23
63
49
76
64
80
82
152
.80
155
400
400 .
150
-207
133- 120
400
400
400
400
400
40
12
09
20
20
35
44
46
King and Shoenberger
George Moore
Thomas Wilson
Andrew Kennedy ' -James
Roberts
Charles Jones
John Bell
John Callin
William Clark
Adam Ream
Alexander Cochran
Benjamin Williams
Richard Smith
Johu Hay den
, John Teeter
William Brown
John C rouse
David T. Storm
Samuel L. Gorgas
Jackson Township.
John Buchanan
Wm. Hult
Thomas Vickroy
John Clark
William Clark
John Crawford
Samuel Stitt
John Steel
James Steel
George R. Shatp
James Stitt
Thomas Stitt
John Stoner
Christian Stonec
Jacob Rupp
John Hubley
Abigail Ramsey
Peter Bortman
Thoman Whits
John Simpson
IJohn Ribblet
Daniel Good
Gilbert Lloyd
, Solomon Benshoof
- Eli Benshoof
; Richland Township
Joseph Vicroy
Elisha Rodgers .
. Dantcjf Reese
Storm fe King " . '
- Francis Devlin
"Robert "Ross
Jacob Clement
SummerhiU Township.
Christian Smith
Arent ftounan
John Nicholson ;
John Evorman
Isaac Brannan -Frederick
Croyles Estat
Jacob Goughnour .
John Kean ' -
' Jokn TNoropsoa
20
20
20
20
20
42
89
53
20
20
C5
65
808
824
210
'400
155
300
-401
401
400
248
SO
40
21
81
126
141
25
14
14
14
17
20
20
20
65
13
11
37
01
54
97
62
44
30
80
30
13
90
96
30
20
20
76
10
68
38
76
10
80
55
41
82
487
414
283
422
220
290
400
400
400
SO
800
'800
300
200
200
405
100
3D
146
-403
.100
92
68
135
24
22
25
29
15
15
21
21
21
2
15
15
21
14
14
28
7
5
10
28
7
1
3
.2
2
S
12
11
6
5
12
11
8
135
25
65 63
76
63
437
.436
125
101
433
.401
11
400
190
439
4iQ
180
-.443.
400
66
00
67
S3
80
54
60
.120
4
74
240
88
54
01
73
76
47
15
34
34
120
80
131
40
28 44
34 03
81; 60
80 2?
271 Robert Evans (part)
430 13 1 John Nicholson
440 William Smith
200 Isaac Jones
220 John Simpson
100 William Clark (part)
440 Henry West
Lots in the toon of SummerhiU.
Amariah V. Ballou's Estate.
Lot No. 2
21
83
34
15
17
1
63
97
76
80
33
90
84 76
79
Lot No. 7 m
Susquehanna Township.
304 . 8 Mordecai Roberta 21 02
Wasliington Township.
81 Thomas Jackson 8
60 James Johns 8 69
1 23 James Magehan 15
176 John Taylor 9 80
439 George Cutwalt It 60
150 Peter West . T 35
1200 Arent Sonman 117 00
200 Christian LingenfeUer , 19 CO.
400 Fred, llinton 10 60
201 43 Francis John 8 87
50 Robert Flinn 1 30
1000 . Arent Sonman 98 00
400 John & James Kinport 10 40
400 . John & James Kinport 10 40
White Township
410 CI Robert Bogea 1 122
410 CO Mary Brown 21 12
410 GO Andrew Small 21 12
445 Alexander Drown 19 77
445 Thomas Brown 19 77
445 William Harris 26 28
453 James Harris . 2G 75
445 John Harris , 2G 28
446 James Reed 25 75
400 100 Wm. Servoss 5 90
400 100 George Hill, Jr. 11 80
250 John xMarshall 7 39
263 120 James Wilson 15 C4
208 109 William Georgo 18 88
199 87 Michael Musser 11 80
200 7 Abraham Whitniore 11 80
319 John Servosa 18 86
47 Jeremiah Musser 2 78
93 Jacob King 5 75
30 Thoa. S. Moore 52
333 Ann McMutrie 4 93
200 James Craig 2 95
200 Joseph Ashmead 6 22
25 Owen Jonea 3 54
300 James M'Miirtrio 4 45
350 Thomas Murgrtroid 5 23
360 John Brown 19 23
400 Patrick Boreland 5 90
203 Thoa. B. Moore G 49
595 T. B. Moore J. M'Murtrie
and others 19 03
1400 Lloyd, Hill & Holliday 4180
400 Hugh Hollin 12 80
20 Graff and Malone G4
116 Thomas Town 3 25
ALSO,
At the samo time and place will bo sold the foL
lowing Seated Lands and Ixts of ground, on
which the taxes remain unpaid, and which have
been returned to the Commissioners, agreeably to
the Act of Assembly of April 29th 1844.
Allegheny
78 Silas Moore's estate 0 02
1 John Hatton 56
250 Dr. R M S. Jackson 18 37
30 " " 6 30
! Joseph Lawson 55
. Charles McGovern 82
Daniel O'Keeffe 5 04
213 Patric O'Conner 3 27
50 John Burke's estate 1 60
J- Peter Carr 1 90
5 Keeffe & Ilowley 2 00
45 Thomas Kaylor 2 00
1 Lot Peter Murray 2 40
10 Penna. Rail Road Co. 8 43
Joseph llouk 4S
! George Weakland 1 50
Patrick Gillespie 1 25
Thomas Kay lor 3 G4
Blacklich Township.
50 John Ponahoe S 02
100 Wni. O'Conner jr. 7 53
150 Jacob Mardia 3 44
589 Mulford & Alter 18 41
i Carroll Township.
100 Henry Arble 1 10
1 Lot Mathias Bartrara 55
50 John Biller I 10
58 George Drinkle I 39
226 Nicholas Lambourn 3 73
CO Michael Thomas 99
50 Jacob White 121
Chest Township. -
48 John Helfrick 52
93 Isaih Hollis 1 53
Clearfield Township.
150 Joseph Adams 4 10
200 Daniel Kraft 1 70
380 M'Guire&M'Dermit 5 72
299 " " 4 32
433 John Anderson 2 80
436 Daniel Colclesser " . 3 73
245 Samuel Calvin ' 1 64
203 William Nelson 3 02
58 Simon Weakland 87
100 George Cowan 1 80
1C0 Daniel Colclesser 90
171 ' " 1 48
145 Samuel Calvin 1 39
94 Timothy Cawley 1 46
100 Michael Farrel 82
20 Luke M'Guire - 22
4412 James Ross 48 52
100 James Sargent 1 10
1 Lot nugh M'MulIen 2 10
.1 Lot Daniel Kline 10
50 Joseph Watt 1 5fi
Johnstown Borough. i
2 Lota Daniel Beam for Cobaugh'a ,
estate 4 70
Jackson Township.
Arthur Murphy
Isaac Clark
Charles Dillon
John G arm an
John Horner
E. A. "Vicroy.
Henry .Wagner
John Murray
Peter Dillon
Toll House
Philip Ahone . '-' ''
Michael Dodso-j V ":
102
63
193
415
40
173
50
100
Y7
6
1
13
17
4
19
2
3
2
86
20
35
34
29
41
17
74
24
44
33
185
S
George Findler
1
38
90
50
45
John Pergrin
Isachar Rood
David Teeter
Toil house west of Laurel
nni
Richland Township.
Archibald Dunlap
Patrick Killin
Elisha Movers;
Jesse Layton
SummerhiU Township
John Egan
Samuel Earnest
Daniel Flenncr :
John Trotter
John Roberts
Sarah Roberta
Michael Benson's estate ;
tt ,
""Maria M array pari Fleet--.
- wood Benson's estate
Peter Ermire- - -
Thomas Leonard
nenry Oster
Solomon Araigh
John R. Crura ,
Patrick & Thos. M'Gough .
xThos. Patterson's estate
James Young .
- John King
' SusqueJtanna Township.
Henry Adams
Johnathan Anderson
Lloyd Hoke
John M'Donald
Joseph Plitt.
John Plott Sr's heirs
Isaac Evana
J oseph Plott's estats
John Dalton
Alpheas TibboU
1
24
C6
85
2 49
55
. 55
"77
83
80
56
70
50
146
400
298
414
44
80
13
. 10,
72
80
18
01
18
90
60
40,
201
"Of
3
15
00
4
.1
1
2
1
2
4
4
5
2
6
1
G
o
1
1
1
6
1
2
2
6
4
1
1
1
34
100
211
100
330
196
Lot
Lot
Lot
45
57
85
60
75
00
270
95
20
20
39
50
100
35
100
43
82
50
80
05
04
88
50
00
00
80
94
44
30
155
94
200
100
200
100
50
40
George Feith
Lewis Kecth
Washington Township
G. W. Bowman
John Dowd
Patrick Fitzgibbona
Daniel Hearkens
8
1
1
1
1
Lot
Lot
Lot
Lot
Lot
Lot
Lot
Lot
Lot
Lot
Lot
Lot
Lot
Lot
Lot
i
2 92
2 08
Thomas Huitt - 1
James A. M'Gough 10
John Magan ;3
Martin Myers -1
Terence M'Elrew 1
John G. Miles 9
Michael Mori ow 1
George Rosa 5
Jamea Rusior 2
95
40
25
95
95
10
95
20
GO
30
95
G5
10
10
44
85
20
85
85
70
20
10
35
350
1
1
1
200
' 1
40
1
1
1
Michael M'Laughlin
James O'Conner
Josiah Thompson
John Ashley
Francis Bennet -John
Dillon
Bingham tt' Brothers
John W. Geary
John Hagan
James Henry
Francis Henry"
John Kinports
John Kettly
Daniel Kiler Sr
Gideon Marlett
Thomas Moreland
Michael M'Laughlin
William M'Laughlin
Martin Myers -Terence
M'Elrew
James Noel
1
1
1
1
3
o
3
3
o
4.
o
1
o
6
2
1
4
1
1
1
1
200
50
2
1
100
1
1
1
1
1
1
Lots
Lot
Lot
Lot
Lot
Lot
Lot
Lot
Lot
Lot
Lot
Lot
Lot
Lot
Lot
Lot
75
10
09
10
1.10
2 20
John Wherry . 1
Edward Howard 3
Dennis Conohan 3
John J. Glass 2
William Garland 1
Henry M'Kinzie's estate 4
John G Miles 7
George Naglo 2
Samuel Short - 2
Austin Thompson 2
C5
58
44
20
05
G9
70
75
34
48
65
99
94
125
200
15
120
45
150
White Township.
George Oshel
Lawrence neburner
80
50
CHARLES D. MURRAY, Treasurer.
Treasurer's Office Ebensburg )
April 2, A. D. 1356 J
Public Sale of Valuable Property.
THE undersigned will sell at private sale his
well known property situated in Susquehanna
Township, Cambria county, it ioins the farm of
Wm. Glass, about 15 miles from Ebensburg. The
Susquehanna and Ebensburg Flank Road, passes
through the farm. The following are the improve
ments, a new Saw Mill in good running order
4 Dwelling Houses, the one in which the subscri
ber resides is a large building, having all the ne
cessary conveniences attached a large Bank
Barn, 100 feet long by 46 wide, Graneries, &c,
3 Coal Banks within 800 rods of his residence
and immediately on the Plank Road 400 acres
of excellent farming land, with a large quantity
of Pine Timber, together with 150 acres of tim
ber leave all the land lays on the Susquehanna
river. Persons wishing to examine the property
can call on the subscriber at his residence. Terms
will be made easy to suit purchasers, as he is de
termined to leave for the west.
ISAAC GIFFORD
March 19, 1856.
CHollidaysbnrg " Standard' will please copy
3 months and charge this office,
Orphans' Court Sale.
BY virtue of an order of the Orphans Court
of Cambria county, there will be exposed
to sale on the premises, on Monday the 21st, day
of April 1856, at 1 o'clock P. M. the following
real estate,late the property of Griffith Lloyd,
deceased, viz : One lot in the Borough of Ebens
burg, known on the general plan of said Borough
by number 54. Terms of sale one third of the
purchase money to be paid on confirmation of
sale, the balance in two equal annual pa j meats.
to be secured by bond and mortgage.
D. U. ROBEBTS, Administrator,
of Griffith Lloyd dee'd.
I: O. O. F.
Highland Lodge No. 428 meets every
WEDNESDAY evening at their Hall
on High st., in the upper story .'ol
& Clark's building. ' - - -
.31
honnaker-
60
JUaiu line.
Sale of the Public Works Opinion of the
Canal Commissioners.
A bill is now pending in the Legislature,
entitled ' An Act to authorize the sale of the
Main line of the Public Works." On the
third instant, a resolution passed the House
requesting the Canal Commissioncra to give
their opinion of the propriety of the passage
of the bill, aa well as of the "policy" of the
measnre. In an able and lengthy reply, pre
sented to the House a few days since, the
Commissioners entirely disapprove of the sale
of the Public Works, especially on the terms
proposed by tho bill in question, We regret
that we.Lftre not reom to give -the eomrrra-ti-cation
oMhe Canal Board in full, as it ia a
paper ushpuld le earefAHy read end
ponder few ir t-rv tax-yer t&b Wo
wealth. By the annexed synopsis., however.
our readers will fully learn their views on the
subject, and tlTo reasons by which they are
supported. . . ...
The Commissioners say : ... '
The main line of tho public imprtfvemcDts,
extending from Philadelphia to Pittsbufg, cost
in their construction, the sum of SIC, 472,-
034, as appears by tho report of the Auditor
Oenerat and ofate lreasurert communicated
fo the Legislature in 1854, to which mustte
added the tonnage tax paid by the Pennsyl
vania railroad company, the amount of which,
last year, represented a capital of 3,000,-.
000.
It is now proposed to dispose of this capi
tal of 19,472,834 to the Sunbury and Erie
rail road company, for the sum of 7,500,
000. A consideration of the bill now before the
House, when viewed " as a measure of State
f olicy," naturally gives rise to the questions :
s the price proposed to be paid an ample
compensation for the property and tax to be
sold ? Are the securities for the payment of
tho purchase money 6uch aa a prudent regard
for the safety of the public finances would
justify the Legislature in accepting ? Would
the tax-payers be relieved of any portion of
the present burthen by the sale ? Is the mon
etary condition of the treasury "at so low an
ebb to warrant so great a sacrifice of in
vested capital?
The Board are of opinion, that a fair inter
pretation of the provisions of the bill must
i a negative answer to each of these im
portant questions.
Ihe nrst question ' Is the price proposed
to be paid an ample compensation for the pro
perty and tax to be sold" is ably discussed
and fully answered by the Commissioners.
They say : . '
lo determine this question, the operations
on the main line for the past fiscal year, may
properly be assumed aa a safe and proper crite
rion. The receipts on the main line in 1855.
were as follows :
Columbia railroad, 557,059 S9
Portage radroad, 18,150 09
Main line of canal. 243,007 77
1,118,217 75
178,523 39
1,296,741 14
909,893 72
Tonnage tax pioposed to be
sold,
Total revenue main line,
Deduct expenditures,
Net revenue, . 386,817
42
chowmg an interest of six per cent, on
jg6,447,467i without taking into view the
revenue due, but not credited, to the Eastern
division. In the collection of tolls, it has
been the practice to regard the works as one
improvement. Under this practice, some of
the divisions are credited with the whole of
the tolls received at their offices, although the
freight passes over other divisions which do
not receive credit for any portion of such
tolls. . The Eastern division is a sufferer from
this rule. All the coal, lumber and other
freights from the Susquehanna and the North
and West Branch canals, destined for Colum
bia or intermediate points, pay the whole toll
at the offices on those lines, and pass over the
Eastern division, a maximum distance of forty
six miles, without that division receiving cred
it for one cent of these tolls. The portion of
tolls due from this source to the Eastern di
vision for 1855, has been estimated at 100,
000, bat may be safely assumed at 60,000,
being an interest at six per cent on another
1,000,000.
It is thus shown that the main line and the
tonnage tax cn the Pennsylvania railroad,
paid into the Treasury, during the last year,
a dividend of six per cent, cn a capital of
7,447,457.. .
But this is not the most favorable view of
the value of the property and tax proposed to
be purchased by the Sunbury and Erie rail-
roaa company. Ihe future promises a large
ly increassd revenue from this source. Ti e
tonnage tax on the Pennsylvania railroad, for
the last year, amounted to 178,523 39, be
ing within a very small fraction of the inter
est, at six per cent, of 3,000,000. The
road has yet but a single continuous track ;
the other track being now in the course of
construction. -Its business is yet in its infan
cy. From its location, audits connections
with all the great avenues leading to the trade
of the west, there must ultimately be no oth
er limit lo its tonnage but that prescribed by
its capacity to transport. The improvement
of the Ohio river, which will be accomplish
ed at no very remote day, will throw upon its
western terminus, at Pittsburg, an additional
amount of freight, more than equalling that
which it now receives from allita western con
nections. It is therefore certain that the tax
on its tonnage will continue annually to in
crease that, before the last instalment will
fall duo under the House bill, the revenues
derived from that source will be doubled
and that the value of that tax, which i3 now
3.000,000, will, by that time, be swelled to
6,000,000. This estimate of the tannage
tax is regarded by maoy as entirely too low.
If the anticipations of the sanguine friend
of the road should be realized, the time
not very far distant when it will yield i.n
amount nearly equal to the interest upon tb
otato debt. . Alio l'eonsyivania railroad uas
to increase but little over the tonnage carried
by the Reading road during the last year,
to
accomplish this result lhia source ot reve
enue, therefore, stands prominently forward
in the future, aa the brightest prospect which
the people of Pennsylvania have for tue re
deroption of tho public debt, and relief from
the burthens of taxation. It should sot be
parted with under any circumstances, bu
more especially for the paltry sum proposed
by the bill. It is the consideration for valu
able privileges granted by the Commonwealth
to an incorporated company, whose business
has aimed a deadly blow at the interests of
portion of the main line of canal. Sound
leefclaiion dictates that it should continue to
1 flow into the coffers, of the Treasury', fur the
penenj or tne people. - . - ..
. The Commissioners also state that jhe'com
pletion of the road over the Allegheny moun
tain,, by which "the inclined planes have been
avoided, will reduce the expenses" on "that xoad
in 1856, 73,000 while the completion of
. i . t r . i - i x m - Tr . -
me Huntingdon and xsroaa lop liauroau, ta
ken, in.connection with tho recent act passed
oy iuo legislature, to encourage transports
tiOn on the canal, will largely increase the re-
ceipts of the Commonwealth from the Main
Line. . . '
The caso then stands thus : The value of
the main line and tax for 1855, was 7,447,-
457. The fact cannot be disputed,.that that
value. for the reasons just given, must contin
ue to increase annually. The Board cannot.
therefore, perceive the policy of selling this
source of revenue for the sum of 7,500,000
even, if the securities for the payment were
such as ought to be accepted.
The Commissioners base the preceding cal
culations upon the presumption that the rail
roads and canals composing the main line will
all be kept open and in good repair. But
there is nothing in the bill making it obliga
tory upon the purchasers to do so ; and as it
would be to their advantage to abandon por
tions of tha line to the great inconvenience
and loss of persons resieing along the same
there ia everp reason to ' believe that they
would do so. In that event,' the Commissioners
argue that :
There will be a great difference in the val
ue of the property proposed to be sold. The
point of abandonment, designated by some
parties who have aimed to get possession of
the public works at a low price, has been the
whole of the line west of the junction at
Duncan's island, or at" Huntingdon. The
presumption may be allowed, that the bun-
bury and Erie railroad company, u they be-
come the purchasers, may adopt tnis sugges
tion, which thdy certainly will if they nd,it
to their interest. They will thus obtain for
7,500,000, the Philadelphia and Columbia
railroad, the Eastern division, the value of
the property and materials on the abandoned
line, and thi Pennsylvania railroad tax
These lines yielded to the treasury in 1S55,
the following amount of net revenue :
Columbia railroad, 136,039 39
Eastern division, 82,601 47
Tonnage
tax, 178,523 39
Total revenue,-
C97.8G7 25
The following
expeuuitures arc not inclu
ded in the statement from which the above is
an abstrac t :
Re-laying south track, (Col
umbia Railroad; 139,100 00
Five locomotive engines, 49,500 00
Paten right for friction-box, 1,100 00
Cast iron turn-table, " 2,314 32
Addition to depot at West
Philadelphia, 2,000 00
Steam hammer at Tarkcsburg
shop,
Laying pipe at water stations,
Re-buildinir Downioctown and
1,200
1,934
00
87
Pequa bridges, 19,757 83
Re-building Swatara aqueduct
(Eastern division,) 10,000 00
226,007 02
Ten per cent, on this amount ia 22,090 70
The actual net receipts for the year, on
this portion of the main line, will then be as
follows :
Netieceipts as before staled, 697,768 25
Deduct for permanent repairs, 22,090 70
Actual net receipts, 075, 07G 55
These net receipts show that the Columbia
railroad, and the Eastern division, and the
Pennsylvania railroad tonnage tax, paid last
year a six per centum dividend on 11,251,
275. .To this added the value of tne newly
laid iron on the Portage railroad, locomotive
engines, shops and machinery, and other prop
erty on the road, and lock houses, lots and
other rironertv on the deserted canal. Tho
lowest estimate which can be placed on these
items is 500,000.
The value of thi3 portion of the property
"which the bill proposes to sell to the Sunbury
and Erie railroad company for the sum cf 7,
500,000, is thus shown to be worth to the Com
mouwedlth 11,751, 275, and which, taking
the past unfavorable year aa a basis of calcu
lation, yielded to the treasury an interest of
six per cent. This value would be rather in
creased than diminished, by placing the point
of abandonment at Huntingdon. That part
of the Juniata division, when the Broad Top
coal fields commence throwing their freights
upon the canal, will produce a revenue beyond
the requisite expenditures.
Take the price offered by the company in
either of tho aspects in which it is presented
by bill No. 901 , it falls short of the actual val
ue of the worka to the Commonwealth. If
the line is to be maintained intact,-the propo
sed sum ia not equal to the value of the works
aa exhibited by the result of the lat year's op
eration?," leaving entirely out of iew the cer
tainty of the increased revenues which will
flow into tho treasury if they continue ia thc
possession of the commonwealth. " Bat if a
portion of the line be abandoned, the disparity
between the value and the offered compensa
tion will be increased, in nearly a two-fold ra
tio. It most not be understood tht the Board,
in these remarks, intend to recommend an
abandonment of any part of tho main line.
The bill before the House gives ihe company
that power, by which they will obtain for ?,
500,000, a property worth 11,751.275. If
the interests of the people along tho line are
to be sactificed by such a power conferred
upon an incorporated company, by legislative
action, true economy would dictate the rojec--tion
of the bill, and tha retention by the
State of tha profitable portion of tho line, and.,
the abandonment ot the other. Between
4,000,000 and 5000,000 would accrue to
the treasury by the operation which would
otherwise go into the coffers of. the company.
The Beard,' entertaining these views, osv
taiued as they are by official facts, opened to
the inspection of every one, are, therefore, of
the opinion, that the -price proposed to be paid
is not an. ample compensation for the property
and tax proposed to behold. -:
-Are the securities for the payment of the.
pnrchase money such -a a prudent regard for
the safety ofiUte public finances oouUi justify
the Legislature in nxcceptingf . , , ,
A iie second section .of. the ; bill authorize
the company to issue 15,000,000. of bonds,
bearing an interest of six per cent, per annum ;
7,500,000 of these bonds, together with a
mortgage on the company's road, finished and
unfinished, from Sunbury to Erie, and all their
real estate in the city and harbor of .Erie and
elsewhere, are tpbo deposited in the office of
tbe btate Areasurer to secure the paymenUot
the purchase money this is not required to
be a first mortgage. The second issue of 7,-
500,000 of bonds, is to be tsecured by a first
mortgage on tha canals and railroads pur
chased faom the State 4,000,000 of which
is to be placed in the' treasury as additional
security for the payment of the purchase mon
ey; and the remaiuing 3,500, 000 to be
thrown into the market to enable the company'
to progiess with their railroad All the secu
rity that is here given to the State, 7,500;O0O
. .. . . .
in bonds and a mortgage on an unanisned.
road : for it will bo observed, that, under the
second issue of 7,500,000, the canals and
railroads purchased from the Commonwealth,
may be sold to satisfy the holders of the S,
500,000 of bends. . Tbe works now owned
by the State may thus pass beyond her reach
and sha be compelled to rely on the first issua
and its securities for payment. If any cxigen-
1 a - .I 'M f
cy should arise in the nuances oi tne state.
these bonds cannot be used unless at a large
sacrifice. Would it then be wise, would it ba
just to the people of the Commonwealth, to
part with a valuable and increasing property
for a sum less than its intrinsic value, and that,
too, where the security ia of tuch an uncertain
character? That is a question presented by
the bill to the consideration of Ihe Legislature,'
and by that body ia must be decided.
A he third section of the bill provides that
the tax on the tonnage passing over the Peon-
ylvama railroad bhall be collected and paid
into tho State Treasury as heretofore, and
credited to the Sunbury and Erie railroad
company, on accouut of interest cn their
bonds, until a single track f their road is
completed to the harbor of Ei ic. This would
seem to be an anomaly even in these days of
enlightened financiering. The conDnY de
sire to purchase the main line at less than its
value. Not content with this, they must al
t have included in the pale, at far below Its
present value, a tax which is punctually paid
iuto the Treasury. Or, in other words, when
stripped of the terms in which the proposition
is couched, they ask the State to give than
the cash means from the treasury to pay the
interest on their own debt due the Common
wealth. Would the tax-payers be relieved of any
portion of their present burtten by a sale un
der the provisions of thiibiUf '
No sale should be made which would not
afford an affirmative answer to a question so -intimately
blended with the interests of all
classes of our citizeDS. It is possible, how
ever, to discover any such an answer in the
provisions of this bill, should it become a law
in its present shape Their taxes would not
be reduced a single cent. On the contrary it
has been shown by the statements in the pre
ceding part of this reply, that the resources of
the treasury would be diminished by a sale on
the proposed terms.
Is the monetary condition of the treasury
at so low an ebb as to warrant to great a sacri
fice of invented capital f
The statements of tbetate Treasurer and
Auditor Gen ral communicated to the Legisla
ture, exhibit the finances of the Common
wealth to be in as flourishing a condition as
they ever were. There ia no prospect of a
deficiency in the revenues no demand for a
resort to extraordinary means to sustain the
faith or the credit of the State. A sale for
ihe sum mentioned in the bill would not prac
tically reduce tho debt of the Commonwealth.
It would be, in fact, merely disposing of tbe
net cah revenues of the main line and the
tonnage tax, for the uncertain payment of the
iut-.rcfct on bonds of a fluctuating, and at
present of an uncertain value a sale of pro- '
pcrty increasing in value for a sum far less
than its present value a transfer of a source
of reveuue worth at the present time, in ono
case, 7.447,457, and in the othcr, 11,751,
275, tor 7,500,000 in bonds eecured by a
moitgage on an unfinished road, the whole of
which ia not even yet under contract. Is
there any 6uch an existing condition of the
Treasury would justify 6ucb a sacrifice.
Tho board have thus frankly given their
opinion of the bill, "as a measure of public
policy," and as the ' propriety of its passage."
In doing so, they have endeavored to keep
within the requirements of the reso'utiou of
the House. If they have in the lea ;t degree
! or in any particular, traveled beyond the re-
i .