The Jackson standard. [volume] (Jackson C.H., Ohio) 1847-1888, 1854-06-01
Suspension of work on our RAILROAD

dG VIC pICSSllJ anu lOI oO'iiN ~
duced chiefly by the large withdrawal OF
the foreign capital from this country In
consequence Of the war in Europe, our
Board of Directors have deemed 1t neces-
sary to suspend the work on the eastern
extension, until the return of more ia
vorable state of affairs. 1t is now almost
impossible for individuals or railroads to
obtain money in large amounts except'at
a ruinous rate of interest.-Under such
circumstances it is cei tainly more prudent
to suspend operations for a time, than to
90 on at so enormous a sacrafce. Many
of the best roads now in course OF con-
struction in the country are acting upon
this view, and arc either suspendmg en-
tirely or greatly contracting their work.
We see it stated that the Cincinnati and
Dayton Short Line, the Cincinnati and
Cleveland Short Line and the Maysyllle
and Lexington roads, all sound, substan-
tial enterprises, have entirely suspended
operations. while the Ohio and Mlsslsslp.
ri, the Cincinnati and Western, and 9TH
ers, have partially suspended. Even such
roads as the Little Miami, and the Gin
cinnati, Hamilton and Dayton, well known
as among the best in the United States,
and whose stocks are even now above par,
have been compelled to stop the conslruc-
ton of double tracks, which they had
commenced.
The work on the Marietta road between
M'Arthur and Marietta, was only pre-
vented from suspension recently, by the
efforts of the people along the line, who
with zeal worthy Of all praise, raised
nearly $5O0,O0O additional resources, to
keep the work going.
Under such state Of general financial
pressure we do not deem it at all surprl-
sing that our road should be compelled to
suffer as well as others. Much as we re-
greet the necessity for suspension, we are
convinced it was unavoidable, or 1t would
not have been decided upon by the Board
We know that many are disposed to at
tribute this Misfortune to our union with
the Marietta company. But after careful
consideration, we cannot satisfy ourselves
that the result would have been different
had no union taken place.-lhe real eau
ses Of the difficulty, we believe, were be-
yond the control of either party to that
arrangement.-HighIand News
Our neighbor has gone a long way
from home to find an excuse for the sus-
pension of the work on the IIilsborough
and Cincinnati Railroad, Just as far as
he could possibly get,-all the way to
"the war in Europe, and the reason
assigned is as far from the true one, as it
is from Ilillsborough to st. Petersburgh
or Constantinople. What had this COM
pany to do with foreign capital? TO be
sure, several efforts to procure eastern
capital were made, but were defeated by
the Misrepresentation of the Marietta
company and its tools, some of whom
were traitors to our enterprise. All the
money ever raised towards the conslruc-
ton of our road-east and west--was
contributed by The people along the line,
and interested, not in The prQfls Of The
stock, but in the benefits 10 result from
the improvement We ought, perhaps,
to except the Sturges loan, loan sent us,
no doubt, by the Marietta company, at
all events most prohligato, if not cor
rupt, arrangcment--a loan which proved
to be a blight and a curse TO the enter
prise.
We deny, most emphatically, that we
were dependent upon "Ioreign capital
for the means of continueing the work.
We had better, surer and cheaper re-
sources at home. The people rendered
the sum Of four hundrel and ffiy thou
Sand doiIarS, every dollar of which was
equal to gold and silver to prosecute the
work All the condition they asked was
to be let alone--to be allowed to spend
their own means in their own way, upon
their wnindependent line and not to be
saddled with the accumulated debts and
responsibilities resulting from the blum
ders and msmanagement Of u rival com
pany, controlling II humbug line, "a com
parry already swamped, and wholly be-
yond resuscitation, except By apprOpria-
Ting oHr Cred,i, and then destroying u.s.
Suppose the infamous contract had been
defeated, and the $3.50 600 had been ac-
cepted, would it have been necessary to
suspend the work? Nothing more rdic-
ulous Had the stock offered, been &C
cepted, the work could have gone on with
greater force and more energy, for the
next year, than it has since the ratfca-
ton of the Swindle, and before that time,
the amount could have been doubled A.
long the line.
The reasons for the supension of the
works named in the above article, do not
apply to our road, for like the people con
the Marietta road between Macarthur and
Marietta we had raised the money to
60 on, and it was Indignantly rejected and
Inefused-not because il was not good
stock, for that was fully admitted : but
because it had been predetermined that
il ShoHid not go on The suspension on
the Dayton and Cleveland Short Lines,
we have understood, is mererely tempo
rary, and we see il stated that the work
on the Dayton Short Line is to be resumed
Immediately, The Cincinnati Gazette, of
yesterday, in its monetary article, says,
"Tbe Ohio and Mississippi Railroad have
disposed of their second mortgage bonds
in New York, but the terms are not sta
ted, and the proceeds of this negotiation
il is said, will enable the company TO