Wheeling daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1852-1859, 1857-01-06

is not even plausible under the circumstances
which now surround this company. 1t is ust-
less indeed suicidal, to assume an undertaking
not possible TO be accomplished, and especially
where the very effort recoils with only disaster
and loss upon those whom it is intended TO ben
eft and relieve. The Board desire TO deserve
the confidence of the Stockholders, (WithOut
which they could not administer the Companys
affairS,) by plain and straight forward dealing
with this and all other questions and hold Them
selves ready to do all that honest men can do to
secure the success of their great enterprise; but
they cannot and will not hesitate or falter in
dealing with any question because Of its being
unpopular disagreeable- These bond stock
holders must provide for the prompt and punct.
ual uayment of their interest according to the
tenor of their bonds; the Immediate result will
be the restoration of the COmpany's credit by
releasing their securities; the prompt completion
OF their road; and in that mode, (the only truly
reliable one) securing permanent relief from the
burden thus assumed, and the enjoyment in per-
petuity of the great advantages which their
road will undoubtedly confer upon the country it
tTaversea
After careful and mature examination and
consideration, and as the most reliable mode of
securing prompt aud successful construction
of the road to Washington, in May last the
Board entered into contract with Mr.. David
Mccartney, by which the work was to have
been completed ON or before the LIST Nov. inst.
In this contract the Board were especially
careful to guard the interests Of the Company,
whilst allowing to the Contractor reasonable
gains and profits to remuneTute him for his cap
ital, responsibility, experience and skill. The
time for the execution Of this contract has ex
pired, bit the Board have as yet taken no ac-
! ton upon the matter, nor do they deem 1t ne
ceSSary to submit any proposition upon this
subject to the stockholders. They arc ready 70
submit the contract, with any further infornia-
ton deemed necessary or desirable leaving their
.lraF
appear to berequired by the interests of the
Company, combined with just and due re-
gard for the rights and interests of the Con-
tractor.
| 1t is with great satisfaction, the Board APP
pend hereto a copy OF articles OF agreement en-
tered into on the 18th ult, with the Marietta
Cincinnati Railroad Company, the HillsbOro i
Cincinnati Railroad Company, and the CHARTERS
Valley Railroad Company, by the Executive
Committee. These articles are expressly made
subject to your ratification and approval The
purpose and intent of this contract sufi-
GENTLY cxplalaiued in the concise recital, that
the lines of those Companies form the only
chain of railway communication, by which
continuous and un6rOken guage can now be Sc
| cured between the cities of New York, Phiiadel-
phin, Pittsburgh and Cincinnati. They deemit
unnecessary to enlarge upon the advantages OF
this contract, not to this Company merely, but
common to all; they are so obvious, as readily
to suggest themselves to every one familiar with
the geography of the country, and at all ac-
quainted with what experience daily proves to
be the great dcSideratum on all lines Of railway
traffic. The controlling advantages among COM
peting routes, apart from material differences in
length, are unity of control and management,
an unbrOken line and uniform guage.
All these would render the proposed combin-
ed line as sufficiently developed in the contract
submitted pre-eminent amongst the various
principal routes between the great West and the
- H. - OaHI Gu0r
tages, which indeed arc now the necessities of
the trade and travel between the EaStand West,
originated this enterprise, have sustained it I'M
der peculiarly adverse circumstances, and ensure
its ultimate success; in other words, the Hemp
field Railroad is an indispensable link in one OF
the principal and most important routes of ma
tional INSTRUMENTATION. By examination
and analysis of the terms of the contract now
submitted the stockholders will see that all the
rights and franchises of the Company are pre-
served intact and unimpaired, and the original
plans and purposes of its projectors are more
certainly secured by the contemplated cOmbina-
ton, than by continuance of this COmpany's
own separate action. The jealous and uninter-
hitting efforts OF the Board will be continued to
consummate the projected arrangement, and
their success is assured by the perfect harmony
of interest necessarily existing among the sew
eral contracting parties.
No difficulty is anticipated in procuring the
necessary legislation; and the Board look to an
early contamination Of their reasonable hopes
and expectations.
The whole arrangement is so simple and di-
rect, and the results to be accomplished are so
apparent, they do not deem it necessary to so
into application of details, but leave the sub
iect, with this brief introduction, to the
| frightened consideration of the stockholders
The Board look forward to the early compile
ton of the road to the Borough of Washington;
by which time they anticipate being able, in the
Flnfin nd aft rflnA fO
rich and valuable country through which their
line passes, to make some adequate return to
their stockholders, especially Washington and
Ohio Counties, the Borough of Washington, and
the City of Wheeling, for the aid they have eX-
tended, by their subscriptions to the stock of
every farmer along the line, and for
considerable distance on either hand, in the
permanent enhancement in value of every
product of his land, will soon give him the most
satisfactory proofs Ofthe practical wisdom which
prompted theinveStment.
The convenient and direct connection Of the
tracks of this road with that of the Baltimore&
Ohio Railroad CO., in the City of Wheeling, Sc
cures to the merchants and traders of the BOr-
ough of Washington, and the farmers of WASH
ington and Ohio counties, that directand imme-
date access to the markets Of the Eastern Cities
which is found to equalize the prices Of all
things, with the small allowance for transporter
ton and commissions on sales. It is the uni
versal experience, that no one class derive more
valuable and immediate benefits from success
fully prosecuted railroads than the agricultural;
and the Board look forward with the most cheer
full confidence to these results, as the best vim
dication of the Company's great enterprise.
The Board, in closing this report. must be-
stow well deserved tribute of commentator
upon their Chief Engineer, Walter c. Smith,
ESQ.,, for his intelligent zeal and untiring atten-
ton, rendered valuable to the Company and so
honorable to himself by professional skill and
ability.
Ali of which is respectfully submitted.
(Signed) c. N. REED, Pres't.
Nov. 18th, 1856.