Western Reserve chronicle and weekly transcript of the times. [volume] (Warren, Ohio) 1854-1855, 1855-01-24
From the Cleveland Herald.
Cleveland and MahoniDg Rail Road

The second annual reports Of the Di.
rectors and Chief Engineer Of the above
Road are before us.
1t was hoped and expected by the man.
ayers of this Road that the same would
before this have been opened from this
CITY to Warren, Trumbull County. This
could have been done had not a wise and
business-like policy, which has peculiarly
distinguished the management of this
enterprise from lis inception, dictated a
different course. Contracts were au-
thorized and made for a portion of the
iron rails and equipments necessary TO
carry out the first plan of opening these
sixty seven miles. Previous TO July last,
however. a marked change came over
the condition of u country. The mar
kei for all classes of securities altered
rapidly and decidedly. and the Board Of
Directors in July, with a foresight and
sagacity which places them in admiral bic
contrast with almost every other like en-
terprise, loo ked the financial doubt and
distrust square in the face, and prepared
their ship for the 81 ock. At a time when
Other financiers, skilled in their art, gath
cred all their energies 10 defy the storm,
and desperately determined not 10 shorten
sail, tut ride down the blast. the Di-
rectors of this Road huSbanded their re-
sources ard resolved 10 bend 10 the blast,
rather than TO sacrifice the money of the
stockholders or jeopardize the ultimate
success of their enterprise. The result
must be most gratifying TO all concerned.
The work las been delayed, but that is
all. Financially, the Company stands
unframed, and 10 sacrifice has been
made by mistaken notions of policy, or
Iy undue impotence to have the Road in
running order.
The time for opening of the Road was
postponed, no equipment was brought On,
save such as was absolutely necessary
for construction. and but five hundred
tons ofiron is now on hand, of which two
hundred tons have been laid IN The road
bed for use in uctiOn. The back
track was taken under most aim.r, bl.
and without loss 10 III, Com
parry. i pari Of The ~are policy WAS a
reduction ia the iarcn Of men engaged up-
on The line, and lis to- WAS accom- lish, d |
without damage TO Contractors, and by Il
ludicious completion Of those contracts,
the work under which might deieriora'e
By being left in an unfinished state. To
use a homely expression, and one perhaps
not known in the railroad vocabulary,
was left so rs 10 injure or SPOIL
By keeping. the work is now und, the
control OF the Company, and can
be graduated and prosecuted just to suit
he state of monetary affairs. The only
hing which really suffers by this DELAY
; the immense business along the line Of
e Road which impalienily waits the lay
NO down of the rails. /
To compensate for the great d~iSsproint-
nent which the friends of the Road feel
Il this delay, it is well to note that the
all in iron will make a difference in ia {
or Of the Road OF at least $1,000 per ,
nile, and a further considerable saving
an be made in the letting of the residue
( the work.
The prospects for business upon this C
load have exceeded the most sarguine /
expectations and in prosecuting the work, -
UGH statistics have been gathered and
oted, as will exceed the estimate hereto
IRE presented, and it really, in our opin- y
N, will turn out advantageously 10 The n
ompany that the temporary check came :
pom il. =
The mastery report of Edward War
er, Chief Engineer, contains much val |
able information, not only to Railroad e
len, hut 10 the country generally, as n
the coal and othe, immense re- r
,urcCs Of the section which will be open u
! to the Lakes and to Philadelphia by n
e construction Of This Road. Fl
We shall follow up this subject in a few
avs by extracts from these reports, and
e hope every man interested in Cieve- l
md, aud in The general development of "
lis great State will read them carefully. d,