Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1848-01-11

W ilCClltla " shheNAibO oSbbtfNS - NhNNhNh
item in The means OF the company in extend-
ing the road. Although it is ouly proper 10
consider this subscription eiiectual TO he ex-
tent OF the obligation Of the city of Wheel
ing, 1t cannot b. IN any part realized for the
prosecution Of the road, until the company
are prepared 10 extend their work beyond the
.HlnoHgahfla TO the Ohio river. To enable
The board therefore, To- demand this subscTlp-
ton, ihe work must be- finished to TIE for
tner river, as estimated by the present Chief
Engineer, aud at cost Of not less than S.
S3l .291.
It is plain that, for this purpose, other
means must be provided.
Third, Another resource upon which. TO
| 8 certain extent, it would not be improper or
| unreasonable TO reir. would be subscription
| b. HE State OF Virginia 10 the amount oi Two
| dths oil the estimated cost OF the road with
in the limits Of that commonwealth. which.
if obtained, wouIi probably not be less than
| 81 500 900. Now coucede that an applica-
ton to the Virginia Legislature for that pur-
pose ought, at suitable lime, 10 be made,
b and thai i; would be recommended by every
principle of common Justice and he Uniform
poury ul that State towards all her great
works, aud have an abiding confidence that
if the company determine 10 make and per
~is in ii, their demand would be ultimately
gained.
! do not conceal from mys.lf, however,
that it would be attended with obstacles
Some loss OF time would be certainly invoIv
ed; ani II ultimately successful. as believe
II would be, there is some reason to appre-
bend that it might come TOO late Tor the pres
eut purposes OF the company
. 1t must be observed, moreover that, in
many instances similar to the present. the
} ppiip,- of that bos -, .b. Ia,
payment of subscription dependent upon
} the linal completion OF the work by other
means. Each OF the laws of Virginia author
izing a previous subscription TO this compa
, ny required a similar condition; and as there
$ is no certainty that it would be waived in the
I present application, d subscription by the
{ State upon such terms wouii impose upon
5 the company the necessity of actually con-
structing their road, in the FIST instance, in
= dependent OF any substantial aid from that
source.
5 | am bound to consider. therefore. that,
o however available such d subscription might
d be made for future purposes, it ought not 10
: be relied upon for the immediate objects of
= the Company. Ii could not dispense with
c the necessity OF seeking other means more
g certain aud better adapted to present use.
II Fourth. An arrangement with the Genrral
OONttiIHfCiil ~! luc tIdIspDTldllOU VI Tue
: Mail has been regarded as another source from
which effective aid might be obtained. 1t
= must be admitted that the route over which
d the Great Western Mail could be ira4,SrI.'e"
l. with the greatest speed, ree'a-.''y ana safety
# ,,c,t Ia be 49," IN the first class
" "t MA -utes, and entitled to the highest
Il. ol pay. whether we regard The impor-
'a"ce u the route III connection with the III
cFeasing bulk OF the Mail, or the cost at which
ha trl,,
or ny Other MEANS less than $50 OG0 per an
mum for the service upon the entire line of
the road between Baltimore and Wheeling
could scarcely be expected 10 be satisfactory
To Inc Company, and would be no more than
Justand economical allowance by the Gov
ei",hehl. lie transportation of the Mail. at
s"ch ahhual allowance, for period oil twenty
N'ais' "ooiu cost tile government Three Mil
mons oil Dollars, aud the proposition would be
mat III consideration oi securing such trans.
p'rthtlon tor that period according to the honrs
dnd subject TO regulations the Department
should prescribe; and at tn, same ti,n, of sinh.
shutting III lieu of the wasting National Road
an improved line OF communication between
the Atisnilc and the Great West. the Govern.
ment would pay that sum in advance. in
b"hls pedfin9 an interest OF five per cent.
'dhli2 from lf'e Company a satisfactory omar
! eitee laf tila completion OF the road and the
pdshsh. Oh Inc interest upon the bonds until
'"e "o'h was suitable TO perform the regular
transportation OF tn Mail. iul!y sbar Tho
confidence entrrtainedin the ultimate success
OF TINS proposition. There O. re causes euouJh
however. in the present condition of the con-,
try. sufficiently oh. i,u-, it-ruttt d tr,,. ,,
ucuiar dlIuslon, to inspire Considerable dis
trust OF the immediate availability of Tins
resource; AMI think il only reasonable to
expect that the probability OF ultimate s1f-
cess would b. greatly treug,hened ii il should
appear that The Company was not entirely
dependent upon such aid. Il is absolutely
certain that the road, whpn finished to the
Ono, must become the great route for the
Western Mail, and that. at some TIM. and
III some from, the contributors ol the D..
Pdftinent must b. given IN aid of the enter
plls2. a the same time, without di,courag-
ing expectation OF ultimate and perhaps early
and IRON this source, | deem it expedient in
the present posture of our affairs. 10 look +,
more certain and aVdiia b t means
In addition tn the r. sources thus eonn,sr.
ated, me expedlen Oh seeking further aid from
Inc Cily Authorities, or OF employing IN,
cFeolt OF The Company in the form Of loans or
new subscriptions, or N st>ne Other mo jifica-
ton OF which nigh be susceptible. wnuld
sem to comprehend all the sources from
which aid could be derived.
mat tn Cuy Authorities. rather than al
low the wora to be indefinitely SUSPENDED
might be induced to nterpose their credit or
aid III some other iorn, is not improblb!+.
and, 1t that were the only expelient. shopId
hoi hesitate TO make an attempt to invoke il.
Al pres at, however, | am not satisfied of
the Rfg- aoy OF the necessity that Womb
warrant demand for further direct
E0hIfod.i1n moan that quarter; ana
"o4id prefer preventing its occurrence. bv
s9gscs : some other .n1dl. in which the c6.
operation OF the CITY Authorities would b.
eqlad' tlftctuai for the Com ,,sny and less
o@J cttpndale II the }uBir.
ililnk 1t e.to5elh.r probable thar. in AID
OF olAir more certain mans b. which it mia1t
ne ioattfe't and improved, The credit OF The
company IN some iHrm, and t. 50 ne extent
G'H'd D. ddNantaSeousy employed; and shall
expect eHec taliy 10 use ii in connection
VITA the means which propose presently to
polAt out. could not, however. encourage
d" expectation OF obtaining from loans in
the ordinary form Sufficient sam To author.
ize lm'nrdlate preparations Tor lhe comole
uoa OF III road; anl could not hope To us,
10 much ettent the credit of the COMPANY in
contracts Tor work without alfording a Ger
'dlnty OF prompt and regular payment.
New subscriptions, by the issue and sale
oil new Shares OF Stock, would, perlIap~. be
only another form oi EN- Toying tn credit IF
the Com any, AMI would Certainly dPnsvl
Tor It's success upod the Acknowledged ) ri i.
~ OF tn % pays revenues am exn.s;..-
tons. In tie Issue Oh nr,g S.uch. Ao'y-ya,
tn Board is restricted BY the charter to sale
OF the Shares at par, ANA /, wounl uplear OH
viou3 thft "alle Tie present Stock is below
httF p5f cent. Oi tie ytr new sni,..r;h-rs