Monongalia mirror. [volume] (Morgantown, Va. [W. Va.]) 1849-1855, 1854-02-04
Monongahela Navigation Company


Lock and Dam No. S, TO James
Burns and John Ross.
Lock and Dam No. 6, to Messrs.
DuIls & Co.
They are we'll known, able and eff.
Glen; contractors, and the puolic may
expect vigorous prosecution Of the
work.
These two additional locks and dams
will extend the slack water navigation
Of the Monongahela river about 80 miles
beyond Brownsville, into the rich and
fertile counties Of Fayet,e and Greene
Largely increased amounts of agricul'
tursl products, as well as coal aud iron
ore will thus be brought to our city ;
while the mineral wealth Of those coun.
ties will thus be made available and
doubtless valuable.
This city has derived Q vast advantage
from this Monongahela improvement.
Most of the time throughout the year,
for several years past, from six TO sigh,
STEAMBOATS, have been employed on the
Monongahela river trade, making daily
trips. This fact alone shows that the
trade has been large and profitable; and
has added largely TO them ercantile pros.
pcrity Of our city. Very many rich
coal banks that, but for this improve
ment, would have remained untouched,
have been opened and worked with
great profit building up villages and
settlements all along the shores Of the
river; and all drawing their supplies
mainly from our city.
But there is another respect in which
this Improvement has greatly benefited
all the citizens of Pittsburg, and par.
ticularly the manufacturing interest.
The Improvement has enabled owners
of coal lands all along the river to open
their banks, and engage proftably in
the coal trade. This abundan, supply
Of coal, and the free competition in it,
has reduced tho price Of coal from 6
and cents. and even s, which it was
before the dams were built, to about 4
cents to large manufacturers, and about
cents for general use. To manufac.
turer the difference between four and
seven cen,slper bushel for coal, on the
pro6ts of his business, will be easily cal
cula,cd.
The improvement has cost large
sum of money, and the work of extern.
ding it to the Virginia line will cost
much more. No one can doubt that it
ough, to be done, and that our city will
be greatly benefited by it. But more
means are wan,ed-more stock subscri.
bed, to enable the managers to push for.
ward the work. Will not our en.erpri-
sing citizens, our manufacturers. mcr.
chants and capitalists see that it is for
their interests to come forward with aid
to the work. 1t is a great work for
Piltsburg, and should be literally en-.
Outraged, especially when it is seen and
known that The stock is SO productive as
to make it profitable Investment.
The Report of the company for the
present year is before US, and it exhib'
its the condition and finances ofthe com.
pauy in a very favorable light.
The tolls received for the
last year were sS2,oo0 "
From wh:chis deducted ex.
penses, rspairs. interest
on bonds aud state tax, Sl6,0l3 Is
fetal net earnings s46,653 76
Out of this. 81 per share, beings per
cent, was paid to the stockholders, a.
mounting to SAL COG.
1t will be seen, then, that its stock is
good investment and under its pres.
ent efficient management, no railroads
projected, or that can he projected, can
ever impair its value or profits. 1t ex.
tends through valley and through
counties possessing inexhauslible min
eral and agricultural wealth, for which
this Improvement affords the best posi-.
ble outlet TO the markets.
The further the work is extended, the
more wealth is developed. and the more
productiye its stock becomes.
The amount Of tolls last year was
considerably reduced by the unusually
long season Of low water in the Ohio,
which prevented coal boats from run.
ming. And still the stockholders recei-
we'd s per cent.
A new lock a, Dam No, 2 will soon
be completed, which will much increase
The capacity of the work for business.
wo hope our citizens will take hold
of this Improvement at once, aud push
it through TO the Virginia line. The
stock is very nearly at par already; aud
will doubtless be at premium in ve-
ny short lime. The prospect Of an car
ly completion to the State line would
improve its value at once.
We will, within few days, publish
some Of the tabular statements, Contain
ed in the reported this company; show,
ing the amount oftravel, and the amouu!
and value Of merchandise and coal pass.