Wheeling daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1852-1859, 1853-11-26
S7e'l'ss g soaoooOo3 9s9 g
s mount OF debt g.g..
this tLme.... s., 6SI, 2S0. "a

Required to fund Amount OF debt y. ~ :
the floating debt this time.... s., ST2s9 a
and to finish the 60.
Deduct loan asked --sslr ~ q VI Ter
ifor at this time b., i. -,... 4 .-sf. FITH r-
endorsement. 5,OOO.OOO0O nB asaa 81.
''I vided hereafter 70 ca Sc, 15s,155 10 5sa
The Company may have 10 use the revenue for
the current year 10 pay OF loan No /, due list Jan.
next, s712,46s72, It will afterwards be replaced
as the credit OF the company improves, by sale
OF the balance of loan No. 6 on hand, amounting
10 S7S 500 without increasing the general indebt-
edneSs. The net revenue may then be aPproPrl-
ated n its legitimate purpose, j. to pay the in
teIest on debtsj and the surplus, if any, TO the
stockboltets. ggEfaoG -. .IyW
fhe expectations the companyis, that with the
assistance Of the city, now asked for, they will be
enabled to fund, as it natures, the entire amount
Of the floating debt now due, and PROVIDE without
difficulty, Ly Q new lcanuPon lond and mortgage,
Ito be called loan No. 81 for the balance Of funds
neceSsaTyto complete the road to Wheeling. The
credit of the company being restored, their rapidly
increasing revenue will also enable the M 10 get of
the balance, s81S, 500 of loan No. g. at improved
rates so as 10 meet the demand for the redemption
of loan No. 1 on the LIST Of January next. ~
Should they not'be disappointed in these homes,
the subsequent demands upon the net annual earn
iugs of the road, for interest, including the prefer
red demands for 6per eentdiyi!ends on IS, 900, 600
stock heldby the State until The lssIanuary' 1885,
SIS foIlows:-
In consequence of disappointment the com
mittees experienced last evening in not obtaining
tabular statement necessaryto atuit calculation
of the subject, we are compelled 10 omit 1t this
morning. -EDs - -. ef.s-'l @@' ,G
In the preparation OF the above statement, the
committee have endeavoIed-to pIessntsa fair and
honest exhibit of all the present liabilities of the
company, aud tue extent 10 which they propose to
increase the same during the next eighteen mouths
or two years. Statements in the appendix of this
- lInJ
of the company. and show how they expect TO he
able With the assistance Of The city, TO provide for
the discharge of those liabilities, including the in
creased expenditure for construction AMI also 10 pay
in the meantime, the annual charges upon tlleIr
net revenue for interest, ground rent; dividend up
on the preferred stock held by and after
the completion. Of the road to Wheeling regular
annual dividenus to the city and other stockhold-
.erS. a. qr e.l s+- +, s4se,g
1t will be peYceivel that the assistapcenow ask
ed for is wanted chiefly for itOnGl consrpc lion,
which will require the large sum of four millions
three hundred thousand dollars 10 be expended in
Two years. and is absolutely necessary to enable
the comhnhy 10 CaI1y.the trade now offering. The
committees have perceived with pleasure, that the
necessity of an immediate provision for this pur
pose has already attracted the attention of one of
the CITY directors for upon referring to the minutes
OF the Board for 10th July asst they find aTesolu-
tor offered by Mr.. Vansap., declaring il expedieut
10 lay q second track from Baltimore to Piedmont
and TO authorize "the president, in conjunction
with he committee on finance, to raise the neess-
sary funds for; tide pt1Pose.'' We cordially COIN
mend Mr.. VaDsapps foresight, and fully CONCUR in
the policy Of said resolution. .5.'h
With Iegard 10 the floating debt it may be OBJ
served that II rms over some four or five years.
The largest items fall due however during the pre-
sent and the. lext,year, and mustrbe funded out
of the foah'nUw proposed, leaving tile company
free to provide for the Remaining items as they ma
ture out ftie aeeruing revenue untll they are all
paid, with tbe addition OF loan No 8, natdhng III
1856, I. s, 60) W Iich must also be paid outlof
the revenue, unless it shall appear to be HqFe ex
pedient 10 renew it by new loan.Is In such case,
twill be placed behind the loan now pLoPost u
and increase the security now offered to ,that ex-
tent. In short, it mnst be obvious 70 every orle5
that in managing matters Of this kind, any padlc-
ular policy TO be adopted; must oe liable TO Le VI
red according TO circumstance depend Ing bieay
upon the ann Of net revenue 10 be received, upon
the state of the money market and the confluence
which the Board may be enabled to establish in
their ability to manage the affaiTs of the road USE
fully and ploflably. The committee beg leave tol
reler 10 the following statistics as exhibiting the
probable net earnings Of the road for some yeRrs
come and COMPARISON between them aud the de-