Cooper's Clarksburg register. [volume] (Clarksburg, Va. [W. Va.]) 1851-1861, 1856-12-26

THE Proposition of the Baltimore and
Ohio Railroad to lease the North
! western Virginia Railroad.
1t was reported sometime since. that a
committee on thepart Of ,he Baltimore
and Ohio Railroad had passed over the
N. w. Va. Raiirosd for the purpose of
examining the Road and ascersaining the
probable amount OF its business, as the
basis of proposition 10 lease the road
forrf q ter2mS 81 years. From the following
proceedings ola meeting of the Baltimore
Company, which ReEoopy from the Sun
| of the 18th inst, it seems that the report
was true, and sthattKat Company propo-
ses to lease our road upon the terms indi-
Gated in the report of the committee. A
variety of opinions exist in regard to The
propriety of the N. w. Va. Company's
accepting the proposition. aRd we may
have more to say on the subject hereaf-
ter. -,.g
| Another meeting of the President and
| Directors Of the Baltimore and Ohio Rail
road took place: yesterday, when the re-
port of the special committee on the sub
ject, embracing plan for leasing and
working the Northwestern (Va.) Rail
road, was taken up and disposed of. The
board had harmonious and business
like session.
Mr.. Hammond stated, on behalf Of him
self and other directors. tina. as the mat
ter was one of great interest and impor-
lance he would prefer to hear from the
chairman of the committee full state
ment of the particulars of the proposed
agreement and all information requisite
for thorough understanding of the subs
ject.
Mr.. Garrett remarked in reply that he
would briefly sketch the origin and histo-
ry OF the Northwestern (Va.) Railroad,
and then proceed to read each section Of
the report and present the views of the
committee regarding all the points involv-
ed, and the reasons governing the conclu-
sions at which they had arrived,
It is we'll known, he stated, that for a
long time the Baltimore and Ohio Rail-
road Company used every effort to OBJ
tain from the Legislature of Virginia a
charter to construct its main stem to Par
kersburg. Antagonistic interests in that
State prevailed, and after many years of
delay and disappointment this Company
accepted a charter to build the road to
Wheeling. Thus the hope entertained
for almost quarter Of a century by our
most sagacious and eminent citizens of
constructing road on almost an air line
from Baltimore to the great centres OF
western commerce, Cincinnati and st.
Louis. seemed doomed to disappointment
The local interests, however, Of that
region of the State of Virginia. which by
this harsh legislation was denied an i'm.
provement OF such magnitude and impor,
lance to its development, rebelled. Ap
peals were made by that population for &
charter for road from Grafton to Par
kersburg. and after much difficulty anC
great delay they obtained the Law. The
resources Of that portion of Virginia were
limited, and but small amount Of the
subscriptions 10 the stock could be there
obtained. A number Of our most distin
guished and philosophical citizens. ap.
preciating the vastly beneficial results tc
~" W GuC SlbJ vi b6lLlulOI0 anu the d al
timore and Ohio Railroad from the open
ing Of this line, consented to act as di>
rectors and organize the Company Mr.
Swami, then at the head Of this board
acting with his usual foresight and ener
gy. accepted the Presidency Of the North
western Virginia Railroad Company, and
jointly with his colleagues, selected chief
ly from this direction. made liberal sub.
scriptions to the stock of the road, mainly
upon grounds of public good. Effort.
were made among the enterprising mer
chants and other citizens Of Baltimore
and stock basis OF $5oO.OOO was OBJ
tanned; and upon this the financial mira.
{ Gle has been accomplished of building 6
road costing upwards of Eve millions o.
dollars.
Our city and State foresaw the impor.
lance of this route and legislated in its
; behalf. Under the sanction Of State LIE.
gislation the city guaranteed 81, 800, ooC
of its LIST, and this company $l,OOO,OOC
Of its I'd mortgage bonds. a financial
, miracle again occurred in the Company
realizing par for the So. 500. 900 Of bonds
, In consequence Of advances in iron and
! labor the estimates Of cost in this, as in
, similar works generally, we're exceeded
and the B. d o. R. r. Co. was called up
on and granted additional aid at various
J periods to the extent in guarantees and
loans of $l,9lO,00o. The eminent citi>
, zens who engaged in this enterprise for
the benefit of this Company and this city
have nobly performed their duty.
During period of financial reverses
almost unparalleled in the history of this
country. they have labored with integri-
ty and untiring devotion to accomplish
the great result desired.