Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1842-01-27

the Bard as 10 The completion of the road To Han
cock during the p0st yeor. aud which win POSTPONE
ihai most desiTa lie event until The month of May
next
Second-There were no rail road orders issued
IN the years 1855 or 1889 Ia 1910 orders were
'ssGed L. The am,nnt ct S69i.400; aud ia ISlI af
SsO5.OOO. amounting in tho whole TO si.50O.O00.
Oi these 81 $4,000 were OF the denomination OfSl
and upwards. and SiS0.00O issued upon the specitd
application Of the CIty Councils OF Blltmore. OF a
less denomination than one dollar. or the whole
amount issued of all denominations sl3.762 have
been funded; and The largest amhunt in circulation
At ANY one tire Is Sl.<S62SS, which amount Is in
circulation now.
1hid-NOne Of these oulcn have heen in any
'iher way redeemed lsan by The Substitution. IN
lien of those which have been detaced and mutila.
ted, OF new ocders upon The application of The hoI.
der, and tho mut,laled orders have ia NIL eases
been destroyed by The commissioner so that by this
process Dissatisfaction. The Issue anl circulation Of
the rnil road onjers have in no instance been IN
creased.
Fouuh-Of the State Bonds delivered 20 the
Company amounting 10 i720 900 or 50 200 600 the
sum OF - $50 were sold in February and March Of
1910. rs hereioiEe reported TO the Legislature. and
ihnse remaining unsold 10 the amount of IVA $50
or S3.l94.750. The Company also held Sl6I ,46l.
10 Of the sH ner cent stock of the City of Baltimore
gwen 10 Il ia part payment OF the ciiy's subscription
ana which under The contracts Of for grading The
road and supplying materials Is payable to The CON
TRAITORS At lis par value; aud Is held 10 be applied 10
that purpose as the payincntmay fall due and se
demanded, and upon this stock the company re-
coiVes the interest
The company have M debts or liabilities e1cepl
The loan of 81 100000 ins urred pursuant 20 The
act of assembly Cor the construction of the Wash.
.ngiOn Branch, which will fall due iR the wear eigh.
teen hundred aud ~hfly-Gour; and for the REDEEM ptinn
OF tins the Board have adopted a resolution TO Gre
ale a sinking fund Out Uflhe revenue OF The Compa.
ny after the rad shall be completed TO Cumberland
nd such as arise oui OF the contracts fr graduation
n's'niy aud bridging. Cor the supply Of he mllerial
or the road AMI machinery. and for The iron rails
already explained.
To meet these debts and liabilities. crcepi the
loan of one nal ion above explained. the balance
iu- upon ihc ci'y's Subscription, together with the
tioreEamed sum Of S330,5d7 ofIhe Stale Binds for
'hc rnnR rails l. supposed 10 BE- fully adequate.
1.-THE company were under aay obligation 10 re-
ieem the stock orders. their only ability 50 d DO
Nould consist IA loans they might be able Ia wake
orlhat purpose or 10y the application OF the State
'onds. Bot the company have in no manner sIipu.
aztec. or IN any way incurred the obligltton or ev.
n held out an expectation TO redeem line stock or
iers. excePIa as appears UPON their face.
These orders were issued with ihe consent and
iPprvhntinn. and under mn arrangement with the
authorities Of The CITY OF d Gilmore; and put forth
Nth Their participation for the purpose Oc enablins
he city TO pay her subscription. anI promptly 10 Il
rish the work 10 CufnberiauI, without a sacrifice
Il her stock, and at a consiIs rable saving OF inter
-. The obligation OF the company is o. the face
II the orders; aud ia each annual report. and in =,
veul communications la The Legislature and ia VA,
Ious other ways has been uniformly and distinctly
rnununccd.
The orders contain no promise TO redeem then
n mbnsy. or ia any other wav; except nv fan
Ding ihem ia city stock; they contain 40 promise u
my kind they are, ~ they impIri. orders drawn on
he commissioners 60 give Ia exchange for them CT
y SIX per cent stock at par, whenever they NAV b
Presented IN sums Of one hundred dollars or M
wards; and when they are hccr ,tCd BY The Coui
mss oncrs and received by The holder; the ob!iga
'ion Of the c1npnRy is discharged. The company
have also continued TO receive them in plyineai OF
ihe ordinary debis due 10 IL, mud will IN every in
stance, aud 10 tie fullest extent, comply with nm,
obligation itmay have incurred; but it neither la,
or can under any circumstances. incur nn obiiga
.Ion To DC more than dcpOsiie with the cummissiu
ners the requisite amuuEi Of siI per cent stock, II
which, when presented for that purpose, they ma,
ne funded.
Itmay he proper to adj that city SIX per cent
stock 10 the fall ainouuI Of The oTicrs iu circulation
mas already. and before i-suing the orders. beer
transferred 10 the commissioners IN trust for Ga,
holders,