M'arthur Democrat. (McArthur, Vinton County, Ohio) 1853-1865, 1857-08-06
sciotO and Hooking Valley Rail-
road Meeting.
M'ARTHUR. July 90. 1887.

road Meeting.
M'ARTHUR, July 30, 1887.
Pursuant to public notice, mum
Der of the friends of the Scioto anC
Hooking Valley Railroad from Scioto
Jackson and Vinton counties assem-
bled at the Court House in this place
and proceeded to organize by appoint
ing E. f. BINGHAM, Chairman, anC
A. PEAROE and j. W. MCBErH, Sec
retaries.
The Chairman stated that the oh,
ject ofthe meeting was to take into
consideration WAYS and means for ex,
tending the S. K II. V. Railroad.
Mr.. T. R. Stanley was called upon
and spoke on the subject, explaining
the situation of the II. r. Company
and urging the citizens of Vinton to
take hold and help the road to this
place, from which, he did not doubt,
it would be extended through without
difficulty.
Mr.. K. A. Spencer, President Ofthe
r, r. Company then presented to the
meeting the views of the Board of Di.
rectors and the proposal which they
had concluded to make. Mr.. S. said
that the completion of the road TO this
place from q point two miles below
Hamden, via. Hamden Furnace, Una.
king a new route for some five or six
miles) would cost S116,000. OF this
amount it wonld require $4,000 to
purchase the iron; but an Eastern
Company having already agreed to
furnish the iron, whenever the road
was ready for it, only 100000 was
necessary to be raised. 1t was pro-
posed that the citizens of Vinton co.
should furnish half of this sum--say
100000, and the counties of Jackson
and Scioto the balance. In order to
procure this money, the Company Of
fer TO sell their income bonds bearing
Z per cent. interest, payable semi-an-
nually, at so cents on the dollar, the
bonds to run for ten years. The
Company did not ask for gratuitous
subscriptions, but simply loan upon
which they were willing to pay about
8 per cent. per annum. 1t must not
be supposed that all of this 100000
would have to be paid in money!
Contractors would be willing to take
fifteen or twenty per cont. Of their
contracts in s--friends of theroad
could perform service and receive pay
in the same way, so that the whole
amount of actual cash needed to COM
plete the road to this point would not
exceed $4,000. The company
would have completed the road long
since, if the means could have been
procured bonds could not be sold at
like their true value in the
Eastern markets, and, as a last resort,
the Board had concluded to depend
upon the people along the route who
knew that the road would lie a paying
one, for the small amount necessary to
complete it. From the information
Mr.. Spencer had received, he thought
that the little deviation from the orig
inal route between Sherer's and Nc
Arthur Station would be almost as
cheap as to pay tie Marietta Compa.
ny their enormous estimates, and it
was desirable to avoid further Difficult
ty with that company.
Mr.. Stanley again spoke, conclu-
ding his remarks by offering the fol-
lowing resolution, which, after some
discussion was adopted
ReSOlged, That a Committee offve
be appointed by the Chair to act in
conjunction with others who may be
by Jackson and Scioto
counties and the Board Of Directors,
to take charge Of subscription books
and other matters to forward the build
ing of the Railroad to Macarthur.
The Chair appointed the following
named gentlemen as the Committee:
Messrs. T. r. Stanley, J. S. Hawk,
r. Aiken, @. earns and f. Shades.
Mr.. Pond, Superintendent of the
Road thought that if the means were
on hand, the road could be completed
to this place within ninety days.
Mr.. j. S. Mcdowell, being called
on said that he had reconnoitered the
new route by Hamden and
Eagle Furnaces, and that he consid-
cred it quite as good as the old one.
Mr.. Alvin Finney said that the
people in the northern part of the
county were anxious to have the road
go ahead and willing to help it along.
The meeting then adjourned.
E. +. BINGHAM, Chm'n.
j. J. ". .1ICI3 McBrrn, Secretaries