Western Reserve chronicle. [volume] (Warren, Ohio) 1855-1921, 1856-02-20
Cleveland ami Mahoning R. R-Annual
Esncrt Of The president.

tractors could be obtained FOR that cou, Sc.
aud only a lew, Who were unwilling 10
di miss their force. remained in the fell.
The Board elected at that lime, imme.
diaIrly addressed themselves TO the task
OF providing The means for completing
the work.
In April, we had secured a subscrip-
ton for about six hundred thousand dol
lars oil our first mortgage bonds, a con
siderable increase of stuck subscript Ons
and some subscriptions to second mort
gage bonds, making together, AN amount
sufficient to meet the estimates for the
complexion o. the Road TO Youngstown.
Notice wis Immediately given TO all the
contractors in the employ of the compa-
ny, TO resume their work.
A portion of them failing TO do this
promptly, in May and June all such
works was re let, and SUI h dates fixed
by the contract, for the completion ofIhe
various sections, as would have enabl, d
US to finish the rack laying and open the
Road be ore winter. The chief engin
eer was instructed to leave no means I'M
tried to accomplish this result. Our
Disappointment, We attribute TO the char
ac.eI of the season. We believe the en-
gineer corps have faithfully ~endeavorrd
TO meet the wishes of the i3oard, and the
Directors have co operated, at all times.
with their personal attention. in endeav
oring 10 hasten the work. But a large
part of the line from Cleveland to War
rem. is through a clay soil, and the per
peiual rains that have visited us ever
since June have prevented the compile
ton of a few heavy GUS, and rendered
it impossible TO open the road to that
point before winter as we had hoped.
The condition Of the work, at this lime,
is as follows :-Whas slight excep ION Of
trimming and unimportanI work ON 9th
er sections. the grading is finished, ex
cept sections 81 ami %. which are now
being urged as rapidly as poss Bile. and
will be finished before The weather will
permit much further progress with the
track laying. The iron is purchased.
paid for and delivered on the line. and
over thirty miles of track are laid, and
the lies for The balance Of the distance
delivered. Four engines and abouI
forty cars are on the track, and we only
need a few weeks of good weather to en-
able Us 10 open the Road. When frs
interrupted by cold weather. it was the
intention of the Board 10 have prosecuted
the track laying without interruption,
and TO have opened the line during the
winter. But since the goth of Decem
Der the win er has been as peculiar q,
the summer. and the deep SHOWS anC
cold weather have interfered 81 much
with laying a safe track. that we hav,
reluctantly come 10 the conclusion Iha
in extra expense and injury to the iron
We shall lose materially by pursuing thi'
policy. and we do not advise making any
attempt to open the line. until the fros
is u of the ground in the spring.
Considerable acquisitions Of real es
tate have been mafie during the year
A. Niles. a specious d'pot ground,
twelve hundred ieet long by three hun
dr. d feet wide, has been donated 10 iht
CONF any. At Braceville, a depot ground
Of the same size, has been dOnaud tC
the company. Al Aurora, a depot groune
of nearly the same size. has been, II
most part donated. In M4n,us and So.
Ion. the precise location vi depot ground.
has not been determined upon. but vii
probs ly cost the company but very lt
lie. In Cleveland, considerable add
tional purchases of harbor properly have
been made, and a contract entered int
for docking one thousand feet of rive
front, for the handling and shipping 0
coal.
The North Western Railroad, we ar,
informed. expect TO open the eastern dl
vision of their Road during the comm;
season. The great Importance OF tai
Road completing, in connection with on
line. a new and superior railway rOu;
from the Lake 10 the Eastern CUES. be
comes daily more apparent. Ii is des
tined TO become one Of the leading thor
oughfares of the country. 1
A Company has been organized
construct a IA Tread from the Niles Sta
ton, ON our road southwark, th:ougI
an ext. nsive coal field lying south Z
Niles. This Road will be completes
during the summer, and will throw
large amount of traffic upon our line.
The coal business in the MahOnln
Valley continues rapidly TO develop. a
we'll as the markets On the Lake. Tn
business on the Road may be expecte
, to r. ach seven hundred Ions per day
before the close of the present season,
We shall prove able to put the track
Crab Greek, with the equipment an
docks in condition 10 transact til
amount of traffic.
This company held, as you are awar'
; at the date of the last r,po:t, a violin
majority of the stock Of the P~ennsylvan
and Ohio Canal There are many rel
, sons why this stock should be c"n,ro'le
by this company, and for the doub
purpose OF perpeIuating the connects
and making (if -to<sible) a still mo-
complete security for The MOI gage de-
n oil The conn any. Five hundred thOl
sand dollars of this stock ha> been tran
frrred 10 the ''Pensylvania company f
! i~nsurauces on lives, and granting an. u
=. lies under a trust created by resol'
o lions Of this Board, which are herewith
submitted.
By contract with the purchasers Of
purion Of the bond, a sinking fund hi
been created of ~lhiity-6ve thousand dc
|. lars per annum, for The payment of Il
4 mortgage debI. The resolution deinir
its nature and conditions are submitte
Embarrassment has sometimes bee
felt from The difficulty of securing
meeting o: the Board. on short n"ic
We, therefore, recommend an increa
$. of the number of directors to eleven. ar
. that the increase be made chiefly. i n
e~nIiiely from residents of Cleveland,
II the end thai at all times a quorum
the Board, OF an Executive Commits
O can lie assembled without DELAY.