Then follows a notice calling attention to Section I of the Charter and asking that subscription books be opened. On Monday, February 8th, 1830, just eleven days after the Charter was obtained, the books were opened at Brennan's Tavern from ten a.m. until two p.m. on five successive days. And in this incredibly short space of time the money was raised by those public spirited, enterprising men. What a magnificent achievement!
Digressing a moment here, it must be remembered that Brennan's Tavern, which plays so conspicuous a part in this history of the railroad, was none other than the famous old Postlethwaite's Tavern, known to us as the Phoenix Hotel, which has been making history for Lexington since 1800. At this particular time it was leased and conducted by Mr. Brennan, and so took his name for the time being.
In the next issue of the Reporter, February 10th, 1830, we find: "Agreeable to the notice published in our last, the subscription books for stock in this company were opened on Monday last, and before two o'clock p.m., the amount of stock subscribed was for $204,000. We have procured the following list of the names of the subscribers with the sums subscribed by each respectively, which we publish by way of showing to those who are yet in doubt as to the practicability and policy of this work, how the subject is viewed by men of practical experience."
Then follows a list of twenty-two subscribers.
"These liberal subscriptions by persons who have carefully investigated the subject afford conclusive proof that they consider the project not only a feasible one but one that offers to the Capitalist an opportunity for a profitable investment of funds. They have doubtless taken into consideration the peculiar advantages of the country in which the road will be located. * * * It is impossible to imagine the full extent of the varied mutual influences which the prosperity of this section of the country and the Rail Road will exert, all tending to the convenience, wealth and happiness of the community. * * *
P. S.—At the closing of the books at two p.m. on Tuesday, the following additional subscriptions had been taken."
(Follows a list of forty-two subscribers.)
"Which makes a total amount of $310,800; $300,000 being all that is necessary to vest corporate rights.