252 JOHN TILSON GANOE
S. Ellsworth, I. R. Moores and Samuel A. Clarke. 25 The incorporators, with the exception of Ellsworth, subscribed a hundred dollars each and passed a resolution that the chairman be instructed "to subscribe the number of Sev- enty Thousand Shares (70,000 shares) of the Capital Stock of the Oregon Central Railroad Company for the use and disposal of the corporation; which, having been done, on motion of Mr. Clarke, the meeting of stockhold- ers proceeded immediately to elect a Board of Directors, which motion passed unanimously, and all the stock- holders being present in person or by Attorney, Gov. Woods was continued in the chair." 26 This company became known as the East Side Com- pany, because it followed the general route of the Elliott survey on the east side of the Willamette River while the Gaston company, incorporated November 21, 1866, be- came known as the West Side Company because it follow- ed the general route of the Barry survey on the west side of the Willamette. The Gaston company had not yet had enough stock subscribed. In order to combat the East Side Company, Gaston subscribed in his own behalf one-half the capital stock of the West Side Company ($2,500,000) and pro- ceeded to complete the organization of the company. From then until September nothing was done by the West Side Company except to hold public meetings and interest the people generally, after which a systematic canves was carried on which resulted in donations by Washing- ton and Yamhill counties and Portland. 27 The East Side Company immediately let contracts for construction and issued bonds. In May, 1868, both com- panies broke ground; the East Side Company with pomp 25 J. S . Smith was signed by I. R. Moores, Attorney, as was E. N . Cooke. S . Ellsworth was signed by Geo. L . Woods, Attorney. Gaston claims Smith and Cooke were in Europe and Ellsworth was in Eugene City, and that there was no authority given for the use of the names. Inside History of Oregon Central Company. 26 Minutes of Oregon Central R. R. Co., of Salem. 27 First Annual Report of President to the stockholders. m*
