PAGE 11: Petersburgh Established:
....
"Thomas G. Cole and Austin E. Wing were heavy investors in railroad
interests. They became involved with the route that was to traverse
the peninsula west from Monroe and knew the value of this railroad would
increase by having villages situated along the line. Seeking land
to purchase with the intention of platting a town, they chose the farm
of Richard Peters as the most suitable in this area for their purpose.
In 1836,
Cole and Wing entered a mortgage agreement with Peters to buy part
of his land.
Some 438 to 500 acres was deeded by Richard Peters to the railroad
investors. The undivided half of all those pieces of farm land owned
and occupied by said Peters was deeded to Cole, with the same amount deeded
to Wing at a cost of about $9,000.00 to each. Records dating from 1836
indicate that Peters held mortgages in varying amounts to both parties,
with that of Cole's being discharged at an early date.
It appears that Wing invested merely for the purpose of
speculation, with less financial backing that the purchase required.
In 1846, the mortgage of Wing was brought near the point of foreclosure
and he was given the opportunity to deed the lands back to Richard Peters,
being allowed until 1848 to reduce the total balance, while still keeping
actual possession. Under these conditions, Wing was not to cut any
timber except for fences, fire wood, repairs, etc., and he was to pay all
taxes assessed in that period. If these conditions were not met the
land would revert to the original owner. Heirs of Wing made a satisfactory
settlement of the account in 1849.
The farm land of Richard Peters was platted into
a village of 41 blocks and named Petersburgh, honoring the man upon whose
former land the town was situated.
PAGE 12:
"Austin E. Wing came to Monroe in 1829, a lawyer, who
represented the Territory in Congress before settling in Monroe, and again
in 1831 and 1833. He served two terms as regent of Michigan University
and represented Monroe county in the legislature for one year, later becoming
United States Marshal. He investment in the farm lands of Richard
Peters is somewhat obscure except to presume his interest was one of speculation
only. Austin Wing died in 1849.
Page 13:
...Talcott E. Wing, son of Austin, deeded the premises occupied by
Peters for
burial purposes, at a cost of $10.00.....
"Monuments for every member of the Peters family were placed
in the village
cemetery on Center Street.
First to be buried there was the infant daughter, Suzan Peters, in
1829, and the
final burial was the last survivor of Richard and Polly, John who died
in 1920.
George Peters was buried in Pleasant View cemetery, however his name
appears on
a monument in the village cemetery with other members of his family."
also see:
Talcott Wing, ed. History of Monroe County, Michigan 1890.
at Central Michigan University library:
http://www.lib.cmich.edu/clarke/lhbmonroe.htm
In Gen Soc of Monroe Co's publications:
http://www.tdi.net/havekost/gsmcform.htm
.....
_____Index to Wing's 1890 History of Monroe County, Michigan...
$10.00