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Show AN OPEN LETTER. TO THE DIRECTORS OF THE SALT LAKE, SEVIER VALLEY VAL-LEY IMOCHE RAILROAD. It is Thought the'Required Funds can be Raised. il il. s. Jacobs in Aciiiu mudc I'rc.Hiilctit. What Say the Directors? Fifth Avenue Hotel, New York City, Apr. 14, '74. " Hon. Judge Clinton, or to whom it may concern, Full Lake City, Utah, Dear Snt: Prompted by personal and general motives, we, the undersigned, under-signed, address you ihis letter to tho end that our individual interests, as well as the welfare of the people, of Utah, may be subserved. The benefit to be derived by parties who possess mining properties, or arc otherwise interested in the productive industries of Utah by the means of the construction of railways rail-ways throughout tho Territory, must bo self-evident to your t onipre-hensive onipre-hensive mind. In the speedy building build-ing to completion of" the Salt Lake, Sevier Valley and Pioche Railway, an enterprise with which you arc prominently identified, wc fed gratify uncc-rncd , and with a view only to its advancement we. t:ike tho liberty of expressing to you our views in regard to the jiu.st, present and future arrangement arrange-ment of the Company's affairs. Last May your then president and financial agent, Col. H. S. Jacobs, under instructions from your Itoard, came to this City in behalf of your company to secure capital end the co-operation of experienced ri.U.-oad men that would enable him to place in the European money markets the bonds of your company, tho only practicable method by which funds could be acquired to construct the railway. Col. Jacobs arrived in this city at a most inopportune season of J the year. Capitalists who usually embark in such enterprises had left, or were preparing to leave the City on their Summer vacations, consequently the opportunities were lessened for him to attain tho object desired. After weeks of persistent endeavor he, however, in the month of July succeeded in forming a combination, j with gentlemen of wealth and influ- ! fence in conjunction' with whom he hoped to eflect the object of his mission; and that he succeeded in negotiating for and did secure thousand tons of iron rails, which were shipped forward at least indi-icu indi-icu led an encouraging outlook to his efforts. He had interested Colonel ToJd,' a gentleman of fine standing in this city, and through him had effected a Sreliminary loan of ftjty thousand ullars, to be secured by bonds of the company. Colonel J. Condit Smith, a prominent railroad man, believing be-lieving President Jacobs' representations, representa-tions, sent a competent engineer to examine into the feasibility of the project, and his report being satisfactory, satisfac-tory, Colonel Smith began earnestly to complete the arrangements by which the entire road would be constructed nnd equipped. Just, however, us these negotiations were progross'tg toward a favorable issue, lic announcr-mcn'. announcr-mcn'. came that Colonel Jacobs had been summarily removed by tho action of your board, ami another gentleman placed in his stead. This sudden removal re-moval by tlia trustees of the road of its chief executive, of crturso paralyzed the negotiations then ponding. The very respectable and responsible gentlemen gen-tlemen who had spent both Unit: and money in the investigation of your enterprise, en-terprise, and who were then contracting contract-ing with your representative, Colonel Jacobs, regrett'mgly withdrew the pro-uositions pro-uositions tbey had made and peremp torily declined to act with his successor. suc-cessor. Thus, when by the untiring diligence of President Jacobs, iron rails sufficient suffi-cient lor twenty-two miles of road were purchased and shipped, and fifty thousand dollars in money secured to pay their freight and lay them, an t just when more comprehensive arrangements ar-rangements were being consummated, your board, for reasons, which to us arc unaccountable, by its action, vRidc a corpse of an enterprise which we deem of vital importance to the di'ire community of Utah. The new president has been installed instal-led since last July, now eight months, and what has been done to assure the building of this necessary highway? We know ol nothing; we anticipate in vain. To us individuals are nothing. Vy e only desire the paramount realization of our expectations, tho construction of the railway. Can it be done ? Wc think it can'ii your board will judiciously judi-ciously act in thi) premises. Capital is abundant and easily obtained where confidence is or can be established. We have repeatedly conversed with J. Condit Smith, Col. Todd, and othera, to whom the enterpiise was originally submitted by Col. Jacobs, and they express a willingness ti again take hold of the undertaking, provided your board will take such action as will harmonize diflerences and secure the unbroken cooperation of all pur-tics pur-tics connected therewith. Although it is a difficult tatk to resurrect res-urrect an enterprise from the grave of a first failure, we, as friendy of the undertaking, sincorely hope that you will lend all your influence to bring about a state of things sufficiently wholesome to again attract experience and capital to its support, so that the directors, and those who hopo tor its benefits, will have the satisfaction of witnessing the vigorous prosecution and speedy completion of a railway whoso want is felt by the communities commun-ities along its projected route, and who will, when it is built, bear in grateful remembrance those who projected pro-jected it and those who pioneered it to success. . Wo arc, with very great respect, and yoices only for the universal good, Sincerely yours, M. T. Gisuoioj, Salt Lake City. ! John Davis, " " ' Dr. R. S. Law, " Richard Smith, Orange, X. J. John L. Baldwin, " " Tho. O. Smith, " " , W. H. H. Smith, " " ' H. R. Dukkee, Utah. II. G. Brooks, (Brooks' Locomo-' Locomo-' two Works,) N.J. L). C. Ferris, San Francisco, Cal. Hon. 0. P. Houghiak. Crone . SteelWorks, N. Y. C. P. Schuuorth, Crune Heel Works, N. Y. Geo. W. Kidd, of S. Pike & Co., N. Y. Chas. Willis, Scc'y Lake S. k M. S, R. R., N. Y. T. Knowland, Gcu'l Ft. Agt., U. P. & C. P. R. R. M. B. Jefferds, President Gran l Rapids it Alpine R. It. Smith it Ellery, bankers, 1U Broadway, N. Y. Col. John S. G. Bert, N. Y. Not having conversed with the parties par-ties alluded to in this communication, but having the fullest faith in the importance im-portance of the undertaking, and believing be-lieving firmly that. Col. Jacobs could now speedily consummate it if vested with the necessary power and authority, author-ity, I take pleasure in joining in this letter. W. W. Lowe, of Omaha. I fully concur with Mr. Lowe. Rufus Ingalls. Grand Hotel, New York, ) April 20, 187-1. ) From a personal knowledge of many of the matters rofcrred to in tho foregoing letter, 1 take pleasure in expressing my hearty concurrence in nil that the letter expresses. 11. A. Johnson, of New York. I fully endorse the within letter from what I have seen and heurd from men of capital and influence in this city. I have become satisfied that Mr. K, S. Jacobs is the proper person to head this enterprise. O. Emijooy. New York, Apr. 21, '74. |