The Ashland union. [volume] (Ashland, Ashland County, Ohio) 1854-1868, 1854-12-13
For the Ashland Union.

refused, and 1 know not whom to answer.
yet 1 feel a pleasure in giving StOckhOL
ders whatever information 1 have on the
subject. You are aware of the fact,
that the financial affairs of the whole
road are managed by an Executive Com
mittee, who report quarterly to the
board, and to the Stockholders at each
annual meeting. Such report was made
at the last annual meeting of the Stock
holders, and would have been published
ere this, but it has been retained for the
purpose of having it accompanied with
the Engineers Report, which is in a
course of preparation. As many of the
Stockholders were not present at the an
nual meeting, the Executive Committee
called a meeting of the Stockholders OF
the Eastern Division of the Road, to meet
at Franklin, on the 23d of last month.
The proceedings of that meeting are
thus noticed, by The Cleveland Daily
Plaindealer u of Dec. I'd, 1854.
Franklin and Warren Rail Road.
SIN this time of a stringent money
market, and the general suspension of
rail roads and all other improvements, it
is refreshing to come across the evidence
that there are some companies that have
not gone beyond their means, nor spent
their money too freely when they had
plenty. we notice in the columns of
the Portage Sentinel the proceedings of
a meeting held at Franklin Mills, on the
23d of November, Of the Stockholders
of the Franklin and Warren Rail Road
Company. Representatives from a dis
lance of eighty miles were present, and
the number of delegates present was
very large. An abstract of the books
of the Company was exhibited, from
which it appears hat they are not in
debt a dollar, aud that all the works
thus far completed are extensive The
proposition made to the meeting was,
that instalments should continue to be
collected on subscriptions large enough
to 90 forward speedily, and complete and
equip the road between Warren and
Akron.
A series of resolutions were presented
by a Committee appointed for the pur-
pose, which, we believe were passed
without a dissenting voice. We copy
such as show the tone of the meeting:
RcsolUed, That we have full conf
dence in the ultimate completion of the
Franklin and Warren Rail Road, and
we would urge upon each and every sub
scriber the Importance of promptly pay
ing up his subscription as fast as the
same shall become due.
ResOlUed, That we have the fullest
confidence in the management of our
Direetors-and the financial condition
of this Division of the Road, as shown
by statements and the books of the Com
pany, this day exhibited, entities them
to the confidence of all the Stockholders.
Resolved, That the Directors are here
by instructed and required to push for
ward and complete that part of the road
from Akron to Warren, and stock the
same as soon as practicable, and we
hereby protest against any suspension of
the work, as detrimental to the best in
terests of the Road, as well as injustice
to paying subscribers.
The section through which this por-
ton of the Road viii run, is one of the
richest in the State, and the subscribers
along the route are abundantly able to
pay up, and they will do SO. We may
expect, therefore, that, right in the face
of hard times, there will be n Rail
Road progressing steadily, and before
the present financial sky has become
clear, a most important part of it will
become completed, and trains running
over it. That demonstrates the ability
with which it's affairs are administered"
With regard to our own County, L
would say, that, the Executive Com
mittee on Wednesday last, informed me-
that they would hold a similar meeting
in Ashland, in the forepart of next
month notice of which will be given to
every Stockholdct if possible, in Ashland
District. AL will be invited to partici-
pate in the meeting, and make any en-
quiries they see fit.
In the mean time for the satisfaction
of Stockholders and other friends of the
Road, 1 would say, that 1 have obtained
from the Engineer a Bill of the Engi-
neering, with the amount Of grading,
excavation, embankment, clearing, grub
bipg, masonry, &c, already done
amounting to s5O,685 ,48-and 1 have
paid eor Right of Way fencing, &C., over
$4,000, making in actual expenditures in
this County, the sum of near $50, 600.
The amount Of collections in the Ash.
land District are as follows:
Paid to the Bank 12,136,3l
I" Collector 39,839,25
Total,---- s51,935,5f
The Bank has paid on Treas
urer's Draft----- 2,4os, Is
Total,-- s552,6z
The Bank has paid more than receiy.
ed, s552,62, and the Company have paid
expenses for labor Right of Way, Sc.
in Ashland County, at least 81, 900 more
than they have received from Stockhold,
ers in this County. This is owing tc
the fact that most of the Engineering
has been paid from the Treasury al
franklin, and they have also paid some
on the estimates made in this County.
I hope the above may be satisfactory
to all paying Stockholders. They car
make further enquiry of the Executive
COmmittee-who will be here at the
meeting in january.
b. B. CLARK.