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

BALTIMORE X OHIO RAIL ROAD-From n
communication recently made 10 the House Of De-.
egaies of Maryland by the President Of the Bait
more and ohio Rail Road We extract Inc n.lowing
passages;
OFFICE OF the sILr. o. RML Raro Co.
January 6. 1912.
To he Speaker IF TIE House If Delegates,
ST-PursuanI 10 an order of The House Of Dele.
gates, adopted on the 81, ait. aad in reply lhere.o o.
have To stale,
Flrst-TnlI m State Bonds have been sold or
nyrujhecatcd b. this Company ia the year eishleer
,dudred nnd fpuy one.
It's deemed proper. however, in order that not
Inly all the pat proceedings, hat the future inien-
ions ani cHPecia'Iras of the Company, IN regard t.
he Sale Bonds ia itS possession, may he fully
Snoyvn 10 TIE legislature. to state that these bnnI,
u such part as mly be necessary Gr the purprsr,
nave always bccn relied upoa as the best ana unE
means of procuring Iun rails 10 finish the work o.
tumberlInI; aai II appearing from the Official re-.
ycTls of The Eugineers,. Ih1I ia ihe month OF March
asst The pTogSrs'Iu the grllllIihn masonry alJ
bridging wassuch, Is to ~unlharise the expectation Of
finishing the rold "a IiancIck BY The month of Jln
uaIy. lci2, and 10 Cumberland ia The autumn o.
Inc same year. the Board proceeded 10 Iake'the ne.
ccssary- measures 10 procure the requisite iron
rails.
The cost nf The entire graduation. masonry mi
bridging, aud asD OF most OF the material, fT IA,
structure have been dcinyed by lac subscription ui
he city, without The all ofIhe State Bonds. Ibis prr-
ceeding was deemed The nJse imperative in order
to avoid the loss OF interest upon The capital eIpen-
ded IN the graduation AMI bridging. and the delap
Idation IN the WORK. which wonld Immortality re
suit by leaving II ia an unfinished stale.
The tot II quantity Of iron required To- finish N,
road 10 Cumberland. is eight thousand and fourteen
tons. Tor which. under the direction Of the Conp1n,
The Mcssrs Barring contracted IN England at the
low rate of $50 per ton, am nm ing 10 the whole 10
The sum OF l66.ll5 10 shtlIinas or S390571 50.
According Ia The Company's directions. four thou
sand IONS were deliverable Ia given quantities
monthly from July To- the auiumE inclusive, oClSll
aud ~ be paid iH upon a credit OF SIX mouths from
the time OF their delivery IN England. Afer the
supply Of The above 1000 tons the delivery Wa, 10
lie suspended unnl the mneih Of March. 1912. Then
II was To- he and 10 continue al the
rate Of goo tons per month. until the remaining
4Ol4 ions should I've delivered.
simultaneously with Ihe order nulhorising a con
tract for Jhe iron rails, the Board proposed TO the
Messrs Barring hot, IN lieu Of the right of The Com
pauy under The original arrangement, :wi,h that
house 10 require monthly advances of li0.070 mill
The whole amount OF The Bonds should be sold, the
advances should be limited 10 a sum not exceeding
in the whole 100 0OG Or $500 100; and That under
This new modification. Il il should become neccssn-
~ 10 make shy advance for the iron. The Mcssrs
Barring would not insist HpOn selling Inc bonds be
'N@ $500 w 49, aHN Ha "aAAA ~ W
that they would a.hOv-a longer credit than that su.
pulaied ia Ibe original arrangement.
Under these directions, the Ncssrs brings made
The contract upon Inc Terms already mentioned, and
in their letter o. advice upon tho subject they state
that "1lthough they reserve 10 themselves The right
OF dspOsing Of the bonds Of the company for Inc
purpose Of covering their advances, II Is not their
intention ofiurcIng them upon The market or make
sales preiudIcIal 20 tho Interests ufine cUmpanv.-
It Is Aways Our rule, hey observe. under similar
circumstances 10 the present., 10 retain that privilege.
aud Il - more Oh that nccoHH hat we are n,vv an
willing 10 r%eiinquish IT," and an other cOmtnunica
lions they reiteraio the same sentiments aud give
the iollsst assurances OF iheir anxious desire 20 80
the hest for the interests ofiho company. as well as
10 support The character Of the Stale.
BY these arrangements, therefore, the company
suppose their right 10 Ssh advances from the Mos.
sus Barring upon Inc STATE Bonds cannot exceed ia
he whole The fnm orf50,0OO, aud entertain no er.
pcciaIon. unless The credii &c The safe should be-
permanently impaired; that any necessity will arise
10 upplgth SraJe BoRds in payment ri The IRON be-
low tho limits heroiofBrc f1sd lOr their sale.
The fnt delivery Of the iron amounted n 800
ions Is supposed iD have been mode on Inc 25ih Of
July lat. the second pf48O tons on the-3lst Au
aust, ihelhid oi 400 tons on the 81 0f September.
The fourth cf 4OC tons Ca the l5ih &c September.
the fnh 81 400 ions on the 23i II September. The
sixth Of 900 iuns.un Tho % Of Oct1hcr. tho seventh.
Of $50 tons on ne ION Of November. amounting
~ The latest adviccs 10 1920 tons and costing
$1,000.
The credit Of ito f-sf delivery. therefore. Of 500
tons amounting '1 SO 900 will nj expire NATL o.,
25ih inst ard fhs advance wifth may ticn b,
mnde boz payment fr o.. could not even according
% he original agrceu1sni, nu'hurso q sale o. OBJ
boods heioro lhe 2Sh ofhiny nexi; while, .Dr al
suhsequent deliveries he oredn would be poslpo
o. n much more rcmnte period.
10 may ~ proper 20 ndi. that exclusive 81 o.
sum Of s33OJ77 hr tho iron rails. MT O.
l1uht b. entertained that he subscription OF 90 00G
by ffe CIy Of Hllnrnofo vpil be- adequate O.
inish iho road io Cumberland; aud I have the honoi
refer The House of Delegates 90 che lat annus
81 tie company for r particular settlement o. |
be caLsss wiiolr disappointed Ne Expeditions Of