Wheeling daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1852-1859, 1853-12-03

week for four weeks before the 4ayloG sale, and
inviting proposals for their purchase, nor shall
there be any pledge on hyPo thecation thereof"
Mr. Seidens riksr thought thai the bonds, II put
in me hands of Tie Railroad Company, would be
sold for whatever could be got for them. They
wanted thirty locomotives, and in making Their
Contracts an excess of twenty per cent GOULD very
easily he put on the price, and paid lordn bonds.
Mr.. Webster could not see The mproprlely OF
plelging the bonds 10 be taken up again. he
thought the railroad directors were gentlemen ana
it was unbecoming i'll members OF tRis PtancI 10
cast rehection5upohtthe integrity OF That Com
pany, 1t had been intimated that there was col
hSion between The Committee and the Company
which he Indignantly repeiled. n proposliion
should benlade TO change the terminus oil me SuS-
quehanna Railroad 10 Canton, there would be no
objection, bec0OSeit would enhance the value OF
the propertyin that section. ~ III
He knew il was spoken Of TO remove the teTm-
nus from Locust Point TO some other. point on me
PatanSco, or TO Anna polls, butt was because oil lhe
oppoSition of the north and eaStern sections o The
city to every thing asked by the Baltimore & Ohio
Railroad Company. Those opposing sections hau. I
Ueen the recipients Of larger moety oil The ap-
preparations than had been the southern Stcton'
lie would not tie tie hands OF the Company 20 pre-
vent them from pledglng The bonds il they pleased
10 do so, and he did not see why the different sec
lions oil the city should oppose this movement.
Mr.. SeIdenStIicker had not been cradled IN Oeo
of railroad stocks, therefore, lie had not such love
for them. lle,thought this ectionaiSms would ue
brought out, it was done laslear by tue same gen
tleman, and lie supposed that those who were al
(ected in that way could imagine they saw the same
thing in Others He was for the whole city, and
if this measure is rushed heedl1Ssy into, the Lax
would fall upon the north, south, eat anu weSt
and no section would escape. he knew that men
who held these stocks had moved ION Inc TENN
ward 10 escape taxation and now the clty was cal
led upon tC SympathiSe with those men who had
gambled in these stocks. -n
He believed that The Railroads were vital 10 the
interests of the city, but when he was called 10 M
f,ta an anfNn ~
not member of the City Council who would
have granted the S3,OO0,000 in 1885 il they had
supposed the terminus would be at Locust FONT,
where il was for the benefit OF New YoIH, ana NOT
| the citizens of Baltimore. The same sectional
feeling was manifested in re[erenCe TO the Con-
| nellSvllle Railroad. He was not SO liberal as his
| friend. 8E.EEa- r.4a"S
Mr.. Stewart thought this was matter Of bust.
ness and he hoped it would not be one oil leellIlG
The amendment was then adopted.
Mr.. VckerS olTeredan amendment TO the Sd Sec
ton, which was withdrawn, when
MIR, Seidenstricker offered the following, TO
follow at the end of the third section OF the UrdI-
nance: ri. .E-t.l ,.! F'E.
| "And also tie said Register shall be saii fled
that the stock now held by the Mayor md City
| Council OF Baltimore is legally made preferred
stock so that whenever the interest is paid on the
bonds endorsed under this bill the SAID stock shall
then be entitled TO the surplus earnings of the Com
many 10 any amount which SAID earnings VIII luSu-
w. until it shall reach per cent. per annum, be-
fore any dividend shall be declared or paid to any
other of the SAID Company, excepting S3,OOU,UUU
Of preferred State Stock" .-. rss -v.
/ Mr. Vickers thought the proposition was not an
EQUITABLE one, as there were several parties IN the
contract, and the State OF Maryland was prefer
red party. Now the city OF baltimore, as one par
ty was called upon to lend her credit to assist the
| road: and he could not sanction any proposition
which would operate against these who from the
first have sunk their money in the stocks OF tie
rond. Ea.s q
rltaOt1
ty, and If the bill passes without the amendnle Mt
The last Glance Of indemnity 10 tie city would be
gone. Talk of equity! should he lend money to
q man who already owed him an amount OH which
the interest had never paid without aueq1a'e
lsecurlty? 1t was strange kind of equity. he
State Of Maryllud hud come forward ana Ielin-
quished her demands in favor of the city oil Baltl-
more in the of the Susquehanna Railroad Out
tile case was not analogous. lie DID not UeiieVe
there was q man in the Council, Ill his PlSale
Transactions who would do such 4 Thing as tins.
y But with his amendment, even, the S5,OUU,OuO
might be swallowed i.
The greatest discretion should be used in acting
uuun matters OF Ills kIud, aud without leeIlng.-
He hODed all sectional feeling would be lhlcwn
aside. The city was alteady involved lOr 80 oES'-
OOO There was also floating debts, due 10 me-
cbanics who were indeed poor, wLO begged lor
:. The amounts due them for pumps, lamps, and olh-
rr things. A few weeks ago the people declared
that they must have pure water, and would auymem-
Der OF the council say in the face oil his consult
uents that lie had voted the money which should
have gone for water to the purpose OF me taltoau
IThe estimate for the water would increase the
ltlebt to SlI,00O,000, and then there was new
iaii and new amshouse TO be erected, and yet
they were called upon 10 grant tins amount willle
so much is required for the purposes oil the CITY,
Talk OF equity He knew of a case where a
/, DO man habits house advertised 10 De Solu Ior
!, tnxes. He though: there were o'her chann Is loi
sympathyrather than the rich STOCKHOLDERS oil the
i, railroad Company. b, q
SaCurIv
u sopable it was TOO much like pound OF flesh IN
one of ShakespeaT'S tragedies. 1t would Ue Ike
! being away from home, and losing ones money,
4 Wien security would lie required ior u loan SuihT
cient 10 AXE him home to be paid on short tllley
or his whole property would be seized. he would
warn the gentleman to he CAREFUL lest IN taxing Inc
Enound of flesh he Should also take the drop OF
blood. In the case of the Tide Water Canal, the
company transferred its effects INTO the lIahuS o.
TRUSTEES for The Uereft OF creditors thus keeping
4 nj within their own control. That might be the
\ drop of blood, and he would not be willing TO be
/ Shyluck in the matter. He here went into
Eecapituia alton of the revenues and finances OF the
road as found in the report OF the committee, ana
1.-The comprise between the Maryland ahd PennSyl-
vania coal traders, as spoken of on Monday eI en-
ing. - tr.s.t m yIs.- ~ frgsy,fT.r -
Nh Seidehstticker thought that the character of
Shylock would not apply to him. He thought he
4 knew duite as much OF the wants of the working
i men as did the gentleman who preceded HIN. He
had been among them from his infancy and he
did not think that that class of people would sane
lion this measure without the security he proposed.
i But TO Bpeak to the subject. He wanted to know
how many cars it would require TO transport ,000,
! 600 ions The cars hold about seven tons each
and it would require All cars prrday for the trans
porIaton Of that amount at a rate of about Sl.12d
| per ton and that could not pay. Yet, when oppo-
SitIon was offered TO this measure the cry was
SbyIocR 5Shyfock! the pound tof flesh! 9 Where
would they stopif this tl&ng is&o1eos what would
Fbe The ultimate consequence? He would gollor
the So 10000 if the Necessary security was ofeL
led, but not Otherwise. He consdeIed the credit
and interest of the city paramountto the interest
Of Stockholders of the Baitinore and Ohio Rail-
Lodus u --as .rF.. sa.- .tir 4J ~ "a! ;;GEt,rl
Pending the discussion on. motion the branch
tadjourhed until this evening ats O'Clock. a5
n s-7,.IdtlEli