The Ashland union. [volume] (Ashland, Ashland County, Ohio) 1854-1868, 1854-06-21
IFor the Ashland UuienJ
REPLY To ga sTOCKHOLDRm.,

To GA 0TOCKHOLDEN.
I DIR. SHERIDAN IL noticed in the las
Union a call upon you for information
with regard 70 the r. & Rail Road
snds suggestion from you, that som
one having the desired Information
should impart it. Perhaps I may b,
able to give some information on tn
subject but to those who had the priv
lege of hearing DR.. EARL, IA member
of the Executive Committee) at tn,
Sons of Temperance Hall, last Thurs
day evening, 1 presume such information
will be superauous.
LIST. The election of Officers for the
Company will be held at Franklin, Port.
age county, at the Office of the company,
on the 18th day of July, at 10 o'clock,
A NJ, las per notice inthis weeks pa.
PERI {.
I'd. Is the road to be b6iIt9Tzr
In reply to this question, the road is
being built; and the Board entertain
no doubt of its final cenpletion.
Sd. What amount of money has been
paid In and how expended? -"
There has been paid in on the whole
line, as I am informed, about $4OO, 900.
This mount has been applied in Port
age, Summit, Ashland, Richland, Ma
rioD, Union, Champaign and Montgom-
cry counties at all of which places the
work is yet being vigorously prosecuted,
and recently a force has been put upon
the line at Wadsworth, in Medina Coun-
ty. There has been about $500, 900
paid In and expended on the whole line,
exclusive of donations of right of way,
which, on some portions of the line,
amount to a large sum. In the Ash
land District, about $40, 900 has been
paid in, while the estimates of work
done on that division. amounts to some
thing more. 5 boz
4th. With regard to the general man
agement of the road-Being a member
of the Board of Directors, it perhaps
does notbecome me to:speak will say,
however, that they have endeavored to
conduct the affairs of the road with
strict economy and prudence, and to the
best of their ability. In all their ar.
rangements, the final completion of a
class, permanent road, has steadily
been kept in view; and to that object,
they are still directing all the energies
Of the Company.
The Board have not considered it
heir duty, or for the interest of the
stockholders, to urge the road forward
beyond their means, or to make arrange
nents, which there was net a fair pros
'ect of fulfilling. They have not con-
it good policy, Or consistent with
moral obligation, to urge the Contract
us to employ a greater force, than they
lad the means of meeting, and they will
adhere to this principle. Mel
her, in this depressed state of the mo-
sey market, have they seen fit to issue
ponds of the company, for the purpose
# raising money for the time being, and
hus putting in jeopardy the credit of
he company. Such a course might be
escorted to by a company which depended
IN securities, entirely, for the grading
# their road. But the Franklin and
Warren Rail Road is established, and
viii be conducted on an entirely different
principle. The local position of the
Dad is such that will, and does, COM
nand the attention Of Capitalists, both
east and West. The Executive Com
nittee report, that We have enough local
Inscription to grade and bridge the
Dad, and 1t is the intentions of the Board
collect and. apply that local subscrip-
ion, which, when done, ensures the COM
of the Road. The Board have,
rom the first, looked upon the Stock of
his road, as being as good when the
Dad is completed as any in this State
md are, therefore, unwilling to make
sacrifice on bonds, which would have
tendency to depreeiate that Stock.
We have assurances from more than
me or two sources, that when the mo-
market shall improve, and we have
expended our. large local means, that we
have all needed assistance to finish,
nd equip our Road. These assurances
we're given at the commencement of our
enterprise, have been reiterated since,
nd are now pledged anew. And they
re of such a character, and given un-
Ier conditions of things, that our Exec
tive Committee (who have just return
d from the Eastern, c%ities) place in
hem the most perfect confidence ; and
ccordingly, written running arrang-
nents have been entered into with the
ollowing important Rail Roads, in the
Cast, viz: New York & Erie, Sunbury
Z Eric, Venango, and the Branch of
he Pittsburgh & Erie Read, which in
ersects the New York & Erie Road
lear Clean
With regard to our Ashland interests.
70 money paid in here, viii be expend-
ID on any other portion of the Road;
as fast as the Stockholders here will
Jay in their instruments, so fast shall