Meigs County telegraph. [volume] (Pomeroy [Ohio]) 1848-1859, 1854-02-28
Mlel9s 90. CeIe9rapI).
"PERsEvxRE.'
PoMEROY. OHIO.
TUESDAY MORNING. FEBRUARY Is. 1854.
onv R,,,po.n W. stated las, wee

n OuR RAILRoAD.--We stated las. week
that The prospects for the completion Of our
road, atno distant day, were rather hauer.
ing than otherwise. We also promised
carefuly-prepared article on the subject this
week; but 10 such an extent have other mai.
lers claimed our attention, that up 10 within
a few hours Of going TO press, not a moment
have we been able TO devote TO the subject.
We shall endeavor. briefly and hastily, TO
sketch the outlines of the matter, however,
and recur 10 the subject again at some future
period.
l. The Contract Of Union, or Conso.ida-
lion, as il is called, does not, as may have
been supposed by many, inyalidaIe the Char.
Ter OF the Hillsborough Company Tor thar
portion Of the line east Of Jackson. In fact,
!, is no Consolidation at all. as that term is
generally understood, when applied 70 rail.
roads. Nor, indeed, could any such con.
solidation as originally contemplated possi-
bly, be effected, without rendering the united
lines liable TO the provisions Of the general
railroad, or,propery speaking, anti.railroad
law. The Contract is Of the nature Of a
simple partnership between the two compa-
MES, each company retaining lis original
charter, electing lis own board Of directors,
maintaining its own organization, and watch
ing its own interests. Should either party
fail TO perform the acts agreed upon and the
partnership be dissolved by mutual consent,
or by the courts Of law, then each company
may proceed as though no partnership had
even existed.
e. Having published the contract in full,
we deem il unnecessary 10 refer 10 its pro-
visions. We understand, however, that
since the contract was agreed upon by the
directors, conditional promise was entered
upon the books Of the Marietta Company,
Iby President Cutler, 10 the effect that the
road should be built from Jackson 10 Pome.
roy, provided The citizens along the line will
subscribe sufficient amount of stock 10 pay
for The grading and masonry. Should they
fail 10 keep this promise, il will be very
easy matter TO build an independent line from
Jackson TO Pomeroy, as soon as the Hills.
borough road is completed to Jackson. II
compelled 10 pursue the latter course, we
may confidently expect liberal aid from the
Baltimore. and Hillsborcugh interests. But
we trust we shall moi be driven 10 that alter.
native.
3. The contract is not yet ratified by the
Stockholders, who will vote upon it early
in March. All things considered, it NIGH
be well 10 prevent its ratification, if possible
but if this cannot be done, we think sound
/ policy would dictate cheerful acquescence
in the measure, until evidences Of bad faith
are clearly exhibited by the Marietta Com
pany. Even in the latter event, we canno
be greatly the losers; for, unless The worl
is vigorously prosecuted on our line, the
n stock will greatly depreciaie in value, arg'
7 holders will throw it upon the market, and
being thus scattered, it can easily be picket
E up gradually, until majority Of j, is secure,
by parties favorable 10 an Independent Line
$ 4. The financial condition of both com
o panies is such as 10 render the immedal
- completion Of either line, independent 0
g the other, extremely doubtful; although O
u The Ultimate success Of bo,h-cerlainly O
y The Hilsborough line-there can be no reas
!" " enable doubt. Baltimore, a, present, ca
afford US no material aid; Cincinnati ha
a, been blinded 10 her true interests, by mis-
e representations; and the people along tn
e line are wearied Of this long continued slrue
" gle with the Marietta Company. Wethinl
therefore, that quiet submission is The be!
70 policy for the present.
at We understand that BENZ. Fl. A. Latrob
~ Esq, Chief Engineer Of tho Baltimore an
Ohio Railroad, will be here in few weel
10 10 reconnoire and locaIe the line OF h
ST Columbus and Hooking Valley Railroad, ar
lie al the same time we think it highly probab
he may examine the route from Pomeroy
. Jackson, with view to shortening The di
8. lance.