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Lyons, Iowa, Central Railroad. First Annual Report, February 14, 1854.

Lyons, Iowa, Central Railroad. First Annual Report, February 14, 1854.

9" x 5 7/8" in brown printed wrappers. 44 pp. 8 1/2" x 32 1/2" color fold-out entitled, "Cross Section. Valley of the Mississippi at Lyons (Iowa). Virtical Sale 60 Feet to an Inch, Horizontal 150 feet to an Inch." Fold-out fine. Signed by James H. Gower of Iowa City, Iowa, and who was on the Board of Directors; Engineer Charles W. Irish, and Ruth Irish Preston. Listing of Board of Directors and Officers. The report begins with the directors' report to the stockholders which states that, "On the 14th day of February, 1853, the company was organized in accordance with the provisions of the law of Railroads and the Right of Way in the State of Iowa." The Report goes on to say that subscriptions to the capital stock have been made as follows: "By individual subscribers $686,300; by Cedar County in bonds $50,000; by Johnson County in bonds $50,000; by Jasper County in bonds $42,000; and Polk County in bonds $150,000 for a total of $978,300. There have been prepared for issue, and a mortgage has been executed on the first division of the road for the security of the payment thereof, 800 bonds of $1,000 each, $800,000. The individual and county subscriptions being a basis for the issue to this amount. Assurances are made, and may be relied on with confidence, that six additional counties will subscribe for stock and authorize an issue of their bonds to an aggregate amount of $500,000, making the present immediately prospective resources amount to $2,278,300. There is little doubt that the resources already secured, and the progress already made in constructing the road, will induce large individual subscriptions, as further means may be required. There have been issued to contractors on account of grading and bridging, in bonds of the company, $300,000. The residue of the bonds prepared for issue are in the hands of the executive committee, to be issued for work on the First Division, as progress shall he made thereon. The amount of grading and bridging done, as will appear by the Chief Engineer's report, is about $200,000. Materials for superstructure, rolling stock and iron have been purchased to the amount of $176,500, making the expense for work done and materials purchased on the first division amount to $376,500. The work is now steadily progressing with a winter force of about 430 men and a corresponding number of teams and implements. As soon as the frost shall be out of the ground, to admit of a vigorous prosecution of the work, a sufficient force will be put on the line, to bring that part of the first division as far west as Iowa City into running order as soon as possible. The work of grading the second division, which extends westwardly to Fort Des Moines, will be commenced and prosecuted as rapidly as additional subscriptions to the stock of the company shall warrant. This is followed by the report of the chief engineer who offers statistics on grading , excavation, culverts, etc. The Report of the Consulting Engineer discusses the bridge across the Mississippi and the feasibility of building such a bridge. A copy of this law is appended to the report and is signed by George W. McCleary, Secretary of State. The Appendix discusses the Galena Air Line (the Eastern connection of the Lyons, Iowa, Central Railroad with the City of Chicago) followed by Civil Engineer John A. Roebling's Report on the Niagara Falls Suspension Bridge, dated July 28th, 1852, in which is discussed the anchorage, saddles, cables, towers, etc. involved in building the bridge. 3 pages showing Abstract of Articles of Incorporation of the Lyons, Iowa, Central Railroad Company, and 10 pages stating the Law of Railroads and Right of Way in Iowa. The Lyons, Iowa, Central Railroad was sometimes known as the Calico Railroad. It operated from Lyons, Iowa to Council Bluffs, Iowa and was organized in 1853. Iowa residents purchased stock and Iowa counties voted bonds to help build the road. Early in 1854 work on the track between Lyons and Iowa City was begun and progressed rapidly. The funds collected, however, were inadequate and some were misappropriated by the promoters. As a result, work was stopped in June and engineers, contractors and laborers, involving some 2,000 persons in all, were left without their pay and without work. The Iowa counties, however, were compelled to redeem their bonds. The railroad company had a store at Lyons, and the goods (including a supply of calico) were distributed in partial payment to the workers; hence the nickname. Wear and some soiling to pages and wrappers; damp-stained to bottom corners from page 19-44; vertical crease; and with splits to head and toe of spine resulting in only 2" at center of spine where text is attached, keeping the document whole. A very interesting document.

Inventory Number: 40801

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