Wheeling daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1852-1859, 1857-04-17

TnE CHART1ERs VALLEY RAnRoAD.--Neetiag
Of the lStocIAolders.-We take the following
proceedingsof the Stockholders of the CHARTERS
Valley Railroad, from the Pittsburgh Post of
Wednesday:
A meeting Of the stockholders of this cOmpa-
ny, as advertised was held Yesterday at their
rooms, on Fourth street Mr.. Smyser, one of
the Council COMMITTEES, being called TO the Chair,
] Gen j. X. Moorhead, president of the company,
proceeded toread the act of the Legislature autho-
riZing consolidation with the Hcmpfeld Rail-
road Company, passed March 16, 1857, and ap-
proved by the Governor. He then read an ar
ticle Of agreement entered into between the
CHARTERS Valley and Hempield companies.
7 They are to be consolidated under the title of
the Ohio Valley Railroad Company-be govern
ed by board Of nine directors, who shall select
a President, Secretary and Treasurer Six of
the Directors are to live in Pennsylvania, of
which three shall be in Allegheny county, and
three in Ohio county, Virginia. An agreement
with the Pennsylvania r. Il. Company was also
read, in which that corporation agreed to carry
freight for the consolidated company cast and
west as cheap as for any other Western Railroad
providing the aforesaid company keep its line in
good repair. 1t also agrees to build track to
connect with the CHARTERS Company on the Mo-
inongahela, from the Pennsylvania Railroad pas
senger depot
| DIR. McCandEess asked how consolidation
could strengthen the CHARTERS Company if the
other company was in crippled condition.
| Gen. MOOrhead replied that it would only be
| by giving the new company longer lineinstead
of mere local one.
Mr.. BrOwn-Isnot the other company worse
off than we are.
/ Cen Moorhead-No sir. The Hempffeld
l 600, while it will take upwards of 100000 to
| finish the CHARTERS road.
Mr.. Mcknight was opposed to consolidation,
| if lie voted ut all.
| Mr.. Daniel Houston, of Washington, said he
owned stock in both roads-that, heretofore, he
was willing TO acquiesce in the suggestion made
! by tho President.
Major Ewing, of Washington, thought we
ought to look what the ultimate prospect would
! be, if this thing be done. He was in favor of
looking after the intercst of the Hempfeld Com
Pany, because we would be securing connec
ton with one of the best constructed roads in
the country. His interests were in every res
pect in the CHARTERS Company.
Mr.. BakGwell was not of the opinion of the
speaker who had just sat down. He spoke ut
some length and wound up by offering the fol.
lowing
! Ras0Ircd, That the further consideration of
the question of consolidation be postponed until
such action be obtained as may release the con-
sOlidated road from all obligations of the COM
lpany to complete the Hempficld road from Wash
ington to Grcensburg
Several gentlemen spoke on this resolution
Gen. Moorhcad said the objection to the resolu-
ton was that it would require further legislation
to carry it out, which he was sure was utterly
impossible during the present session of the Leg
islature. BY consolidation we make the repre-
Isentativcs of the Henpfed Company equally
interested in our road with ourselves. They
would then have ono route to the PENNSYLVANIA
scarcely want another via Grcensburg.
Mr.. Blackwell feared the Henptield Company
being under the influence entirely of j. Edgar
Thompson, and having the preponderance, III the
stock, would not consult our interests.
! DIR. McCandless moved to add to Mr.. Bake
wells resolution as follows, which was accepted:
and ascertain whether said consolidation
would interfere with or invalidate the contract
now existing between the CHARTERS Valley and
Steubenville Railroad Companies"
Major Ewing wanted to let the Hempficld
Company down as easily as possible. He there
fore offered the following as a substitute to
AR. Bakewell's resolutions:
! ResOLred, That the question of consolidation
MS presented to the Stockholders of the Char.
tiers Valley Railroad with the Hempffeld Rail
road, be referred back to the Managers, and that
they bercquired to have a further conference
az to the terms of consolidation with the Hemp
field Railroad.
Mr.. Brown was opposed to the substitute, be-
cause it was not definite enough
! Gen. Moorhead thought if the meeting was
not prepared to vote for consolation, it would
be better to adopt Mr.. Ewing's substitute. He
gave his views at length, and explained his po-
sitions in a very clear and concise manner
Mr.. Houston spoke briefly in the same strain.
Mr.. Brown spoke on the opposite side.
! The question coming up the substitute was
rejected, and the original resolution of Bake
well, as amended by Mr.. McCandless, was then
passed.
! Resolced, That the Board of Directors Of the
| CHARTERS Valley Railroad Company be directed
completion of said road by means of the pre-
ferred stock and mortgage bonds of said com
lpany on the most favorable terms they can.
After some further proceedings the meeting
adjourned until called by the Board.
Mas, PARrrveToS's NOrloSs OF GAnRorlSe.-