Historical encyclopedia of Illinois, ed . road held in Quincy, thefollowing resolution was passed: Resolved, That in case McDonough Countywill, in its corporate capacity, in lieu of the$50,000 already voted, subscribe $75,000 to thecapital stock of the company in bonds bearingeight per cent. Interest, the company willagree to pay, until the road is put in operationthe whole distance from Quincy to Galesburg,all the interest which may accrue on said bondsover and above the $3,000 annual interestwhich would accrue on the bonds already vot-ed, so that no additional tax will be requiredin conseque
Historical encyclopedia of Illinois, ed . road held in Quincy, thefollowing resolution was passed: Resolved, That in case McDonough Countywill, in its corporate capacity, in lieu of the$50,000 already voted, subscribe $75,000 to thecapital stock of the company in bonds bearingeight per cent. Interest, the company willagree to pay, until the road is put in operationthe whole distance from Quincy to Galesburg,all the interest which may accrue on said bondsover and above the $3,000 annual interestwhich would accrue on the bonds already vot-ed, so that no additional tax will be requiredin consequence of this increase of the countysubscription; the interest thus advanced andpaid by the company, to be hereafter refundedout of the surplus dividends which may bedeclared on the county stock, after providingfor the interest thereafter accruing on thebonds. A resolution was also passed asking that anelection for the proposed increase in stock to$75,000 be held, as provided by the statutes,and, in case the popular decision was favorable. GEORGE W. BURPEE HISTORY OF McDOXOUGH COUNTV. 683 to the new proposition, that the former voteof the county subscribing tor $50,000 stociv beannulled. Again the friends of the road rallied to itssupport, and the result of the election of Au-gust 20, 1S53, was 1,145 in favor, and only 285against the proposition. This gratifying out-come of the second campaign was an assur-ance of the building of the road, which provedto be of incalculable benefit to the entire coun-ty. village of Walnut Grove. The townships ofEldorado, New Salem, Mound, Bushnell andWalnut Grove subscribed for $161,000 stociv,nearly all paid; but, of course, the stock isworthless, as the road for many years was nota paying investment. After being transferredto various parties, or corporations, it finallywas purchased by the Chicago, Burlington &Quincy Railroad, and since coming under thisownership has become profitable, as part ofits great system. OK riiK Railkoad.
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