Wheeling daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1852-1859, 1853-09-14
cnNrRA1 ORG RA11 ROAD
praaiaent auliivan,s Report.

that city and NaneSYlitet peeu IuH WIN 80 ~
regularity; not single trip having been lost, al
though in some few cases delays was caused oy
unavoidable occurrences.
With the addition of the cove.ing OF three
Bridges nallamopnt of work on sections OF
and b1-the filling iip of some treSe which is De-
ing suppanted by Inasonry-some ten thousand
dollars worth of masonry and about ten thousand
yards of ballastihg, the Western DIVISION CT tue
Road will be complete. We may then safely
place 1t in the frOntran OF INST class hoauS eve
nv thing being built in so substantial manner as
TO admit of the heaviest Trains and the highest
rates OF speed admissible upon any Road econom-
icalIy and safely managed. As evidence OF this,
our EXPRESS Trains are now run, between Stops
at as high speed as lsmade upon any ROAD ln tne
West; while we have much p 'easuTe IN saying
that out of more than sixty thousand passengers
since the 18th of January last, not single pas.
semger save one-=and he but slightly, and that
by his own imprudence-has. been injured upon
our Road. Some injuries to employees of the
ComnanV which have occurred, had no relation
to the structure of the Road.
The cost of the Western division upto the pres
ent time Us seen by the Treasurers exhibit is Sl,-
1856 71-equal to SIS, sTs per mile.
The expenditures upon the Eastern Division
have been S7SS, 1888 IL.
The expenditures for Machinery, &C., common
to both Divisions have been 81 63,216 90.
These different sums make the aggregate e1-
penditures S2,2l9,176 80, which deducted from
80 S39 639 "a the gross resources OF the Company,
show a balance of resources on hand available
towards the completion of the Road of S619,S62,-
"a. In this amount however, there is The sum oil
S5O,S36 so debts on the Treasurers books, be-
ing balance OF unsettled accounts, the larger
portion of which will probably be absorbed by
unadjustrd caims for work done, materials tur-
nished, and for right of way cases.
Predicated upon the estimates of former En-
gineer of our Road it was assumed that the re-
sources on hand named, would have been suhl-
Gent to complete both Divisions; but the work
between Newark and Columbus, although mana
ged with q rigorous economy, has proved 10 be
more expensive than was estimated. This has
been partly owing to the peculiar chaTacterot the
country traversed by the Road, and partly to the
advance in the of labor and materials. But not
withstanding all this, we believe 1t is below the
cost of Railroads in Ohio. A change too in the
| location of about SO miles miles of the most ex-
pensiYe portion of the Eastern Division OF TIL
Road, made by Mr.. Medbery, late Chief Engineer,
| under the sanction of the Board, whilst II has
| doubtless made valuable Improvements upon the
first location-in the saving of distance, anu the
reliefof curvature and grades will unqueShona-
| bly, add to the expense of It's construction. 10
this must be added an order OF the Board author-
izing all the tunnels (of which there will be four
or five, ranging from 80 to 500 feet in ength) and
the masonry of the bridges to be enlarged TO
the requisition of double track, together with
the great advance that has taken place in the
price of labor and materials, and especially inthe
cost of Rail and Machinery. All these things
looming together compel an enlargement of our
estimates of the cost of the Road and Indicate Tue
necessity of an addition 10 our available means.
For this purpose, the Board, whilst anxious TO
restrain stock issues to the smallest possible a
mount, have felt the Importance of making bet
ter basis for a new loan than would exist without
an addition to the stock list. The have accord
ingly authorized a sale of S200,0OO OF additional
Stock and the issue of not exceeding SS00,OOO oil
Bonds;s which bonds it is proposed 10 secure by a
mortgage covering the whole line OF the Road from
Columbus to Wheeling. This amount will be
amply sufficient to complete and equip the Road
for large traffic.
BUSINESS OF THE ROAD.
That it will be necessary 10 supply large
stock of Machinery for the trade of the Road
when opened through to the river, we have ample
evidence IN the development of the business Of
the portion between GAINESVILLE and Columbus
An exhibit of its prospective traffic, made by the
President in New York in 1851, and which at {
time was rated as very sanguine statement, esli'
mated the travel of the Western Division at less
than 5000 per annum. The actual number oil
passengers upon our road, since its opening tC
Columbus up to tile 23d of the present month. !
period of seven months and five days, has beer
60,34l-equal 10 102, 439 per aunum, or more than
three timeS&S much the amount estimated in the
Exhibit of Isl! -s
The gross receipts of the portion ofthe Road in
operation for the first months and IL days ending
list July last, were S52,73S %
From which deduct expenses 20,750 IL
Leaving as neLL IeCelpLS c013Sdt o.
Paid interest -fff'' p'' - s16,227 oo
Three per ct. dividend, on stock paid up 1918 IS
Surplus 1902 81
s8l,977 IS
Small as this amount is, as compared with what
of course is anticipated Tor the Road when lis
proper and most diIect outlets to market reach
ed, and its full connections with travel avenues
are made, we believe it is lnexampled for local
Road such it is get, in the first stages of its op
eratons. But satisfactory as it is, there is still
more gratifying feature the decided evidences oil
Il increase since the LIST of July. The receipts from
passengers alone, for the So days ending 2Sd ofthe
present month, have been S14,772 IS, whilst fer
the 5 months and IL days preceding ii was but
S27,637 10; showing daily average of Sl09, Is
greater than tie daily average OF the fractional
half year, or equal to go per cent. increase
Within the same So days, although the dullest
part of the business year. the freight receipts have
increased at the rate OF % per cent.
THE COAL TRADE.
The contract for the Bridge across tie Muskin-
gum River required its completion by December Of
last year. 1t is yet unfinished, although now rap
idly tending to completion. The risk of fire, in
CONSEQUENCE of the site of the Bridge being iii
such close proximity to the mills upon the canal
and the present upper bridge overthe Muskingum,
wedeemed too imminent TO justify wooden struc-
ture; and on deciding upon iron, neither the con-
tractors nor ourselves appeared to be aware OF the
time which would be lost in the preparation of the
plans and patterns of form of bridge TO the
Mississippi Valley. Much annoyance and present
loss has resulted 10 The Company from the delay in
its construction, but when finished, we think it
will reflect credit upon the contractors, whilst its
permanently and beauty will give reputation 10 the
Road.
The delay however, in the completion of this
bridge has retarded the development of the coal
trade, and has probably, already lost to the Com
Pany very handsome revenue which might have
L hepO lef inf we
satisfaction in knowing that the benefits to result
from this trade are soon to commence. We have
the track already extended from GAINESVILLE 10 the
mines-in its course towards the Ohio Riyer-so
that delay need occur in the forwarding of coal
after the completion of the bridge. Contracts Tor