Portage sentinel. [volume] (Ravenna, Ohio) 1845-1854, 1851-01-13


Grable that this connection with Pitts.
bnrgh should be effected at the earliestday
The Board have also ntered upon some
Investigations and adopted some measures
TOR securing the construction of several
branches which will contribute largely
20 the business Of the main line. These
branch efforts, important as they are to the
Interests Of the company, cannot, however
. in the opinion ofthe Board, be prosecuted,
certainly for the present, except on the con-
adition that the cash funds necessary be rails
ed BY the branches. 1t is hoped. STILL that
sole or two of the more important of these
. branches will be constructed speedily and
,ssiih such manner az not to burden the COM
pany. hss ss
Tie Board feel constrained 10 call the at
Iention of the stockholders again to the i'm
turtance of the work they have undertaken,
and particularly in the new light which
further observation has furnished. To say
nothing Of the additions whish should now
Be made to former estimates of the amount
of business to be furnished to the road by
the opening of new connections and of pro-
posed branches; by which the main line
will at the same time be fortified and pro-
tected against competing works that may
be projected hereafter, the Board are sat-
is6ed that the business from the wheat belt
= which the road traverses and also from the
coal sections along the lower end of the
line. must greatly exceed cur formor anti
cipationa 1t is now satisfactorily ascertain
Sed that coal in inexLaustible quantity can
: be obtained in localities SO convenient for
mining and for transportation that it can be
delivered at Cleveland at two dollars per
ton. In the prospect of these facilities for
/. the supply Of coal by our company, mum.
Der of establishments, the Board are credi-
! bly, informed, are about to be located at
Cleveland. for smelling the iron and copper
ores from Lake Superior, of a magnitude to
promise a large increase of business to the
road. E4FE
The transportation Of wheat, also, from
the more southern points on the road to its
proper market at Cleveland, seems now like
" TO exceed our former expectations. Of
the vast amount to be supplied from that
i portion of the State, some estimate may be
farmed from the single fact that two town
|. ships through which our road passes, have
the last season produced one hundred
thousand bushels each, furnishing for ex-
s portation an aggregate surplus over home
: consumption, OF one hundred and fifty
i, thousand bushels. But not only from i'm
msdiafely along the track of the road but
also from other public works met or cross
ed BY our road, must the wheat be brought
ia TO our track in order to reach its most in
wing market
e TIE Ohio ard Pennsylvania railroad is
now IN an advanced stage Of progress. It
:. is anticipated that early in the fall both
roads will be in readiness to reciprocate ex
.ehanges OF business at Alliance, 58 miles
from Cleveland. By this connection, the
whest products from that portion of the
State will find more ready access TO our
line for market at Cleveland while at the
same time, a railroad communication will
be opened through to Pittsburgh.
The finances of the company, the Board
are happy to state, are in better condi-
ton than we in reason could count upon at
! the.d date. of the formor report. The ex-
tremely favorable condition of the money
market has enabled the Board, not, howev-
err, without gre at exertion and care, to meet
the accruing obligations of the company,
increasing with the increasing magnitude of
our work, with a prcmptness which, SO far
as they are informed, is rare in the history
of such enterprises, and at the same time
With no compulsory drafts on the means of
tllose who had enlisted in the work. They
can now with reason indulge the hope that
- in any ordinary condition of the country
the work viii be carried through to compile
ton without serious embarrassment. altho'
3 they are fully sensible that the same riged
economy and the same degree of care and
i effort in outstanding existing resources, as
hitherto, will be requisite in order to secure
the completion of the work without inter-
ruption, and after the high standard of ex-
ceflence upon which they have ever been
determined.
sa A detailed report of the entire receipts
and disbursements will be submitted on the
completion Of the work. The Board feel
entire confidence in saying now that the
cost win be within the original estimate of
the engineer as already published.
Since the last report several amendments
have been made to the charter of the COM
pany. One of them, that providing for a
change in the time of holding the annual
meetings Of the stockholders, was sought
for the sake of the increased convenience it
would occasion in closing up the yearly ac-
counts Of the company. The others, which
with this, have been adopted by the Stock
! holders and have been alreadypublished, are
Of such obvious and eminent value to the
company that il is only necessary to refer to
them here. One other. authorizing con-
nection with the Steubenvle and Indiana
railroad. which remains to be acted on by
the stockholders, will be submitted at the
present meeting.
: The Board take pleasure in bearing tes-
timony to the fidelity and skill Of the chief
and assistant engineers employed on the
work. in whose experienced judgement and
: devoted attention, to the interests of the
company the Board feel high satisfaction.
THE commendation of the company is also
sdue 70 the other young men attached to