Western Reserve chronicle. [volume] (Warren, Ohio) 1855-1921, 1857-01-28
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The earnings Of your Canal the last
year, exceed that of any preceding sea-
son, which ~verifes our last years predic-
lion, that the local trade Of the Mahoning
Valley, was yearly largely increasing,
and but for the prospective Railroad COM
petition, would, in a few years, pay The
stockholders satisfactory dividends.
A part Of The Spring, the Summer and
Fall, were exceedingly dry, affecting The
Canal navigation by detenIions, incident
TO a scarcity Of water, and preventing
boats from carrying their usual quantity;
yet the amount Of coal that passed over
the Canal exceeds hat Of 1855, over 49,
900 tons. Dealers in Briar Hill Coal,
found in the month Of August, that their
supplies were. not equal 10 the demand,
and could not largely increase their re-
ceip;s on account of low water, having
many large orders they were unable 10
fill, which admonishes them in future 10
boat while they have wafer in the Canal,
and their interest will be promoted there
bv, and the Canal revenue increased.
Doubtless the coming season, the coal
tAiul III ~ VI hulIY wiz CACCGu l0dl OI Z
this year $4,000 ions. The severe drouth
If the past season has lessened the guam
rity Of cheese and butter made, very con-
s%iderably, causing a falling off of more
Than l,000,000 lbs, as is shown bv the
Tonnage statement at Tie port at Warren,
of 1855 and 1856. We have expected.
and would have had, a large trade in
Lake Superior Iron and Copper ore, had
there been sufficient water in the Ohio ri
yer to enable bJais to deliver it in Pits
burgh, where the largest quantity is con-
signed. We might enumeraie many arti-
cles that are usually exported, such as
wheat, corn and dried fruit, none Of which
were produced in his section Of Country,
J above the wants Of home markets.
The Cleveland & Mahoning Railroad
was opened 10 Warren, early in July; to
Girard, in September; and to Youngs-
town, in November; and from the time
The road was prepared TO forward freight
from these diff rent points, tie canal felt
the effects of competition most seriously.
y ails all of the merchandise and a great.
or portion OF The butter and cherse, sought
the railroad, particularly that destined for
The Western and Cincinnati markets-,he
low Stage If water in the Ohio River,
leaving 10 shippers no choice as 10 route.
The causes above enumerated would,
and did make a difference of from Sl5,
900 to S25 00J 10 orr receipts.
The proprieio's of Briar Hill, Girard,
and Mineral RiIge coal mines, have con-
strucicd railroads at much expense, CON-.
Meeting heir coal-fel4s with the C. & NJ.
r Railroad, Intending, doubtless, TO ship
their coal in future on he railroad, which
if done, will make a serious inroad upon
our earnings The coming season.
The Canal will not %oun compcti-
tion from Youngstown east 10 the Beaver
division Cf the Pennsylvania Canal, for
one year at least; and on that part con-
siderable GRE and coal are transported,
as vel, as a large New Caslletrade, con-
sisiing of iron, nails, glass, &c. Also
we anticipate heavy shipments from the
Powers and Mount Nebo mines, both of
which are located east of Youngstown.
to Cleveland, the coming season.
Our opinion, however, is that the earn
inns of the Canal for one or two years,
will not more than defray the ordinary
expenses until The Railroads eastern con-
n~ecIions are perfected, when the desire Of
The Railroad will be 10 DO a more extend
cd freight business-as is evident will be
for their inieresi-and give up the local
carrying to the Canal, when we hope TO
see il earning in an ordinary season, from
$4,000 TO SIS 600, and each year there
alter increasing is dividends. Although
this view may appear sanguuIe, never.he
less, we feel that the result will verify
our conclusions.
The Canal is, as YOU will perceive by
Mr.. Robinson's Report, much out of re
pair, and 50 extensive is the di~lapidlIion,
Thai we scare know where rebuilding is
most needy. From Lock No. 3, 10 10,
cast of the Raycnna Summit locks, Z are
to all appearance ready to fall, 10 rebuild
which, a large quantity Of stone have been
delivered and made ready for laying, 10
repair the locks whea it occurs, with the
Utmost despatch. The severe cold wealth.
er forbids US 10 calculate on doing any
work Of consequence this winter.
The hasty, and as was intended at tie
time, temporary support erected at the
Newton Falls Aqueduct. exceeds our ex-
pectaIions as to Its %permaneuce, and t.
appearances will answer for another year
with a slight additional strengthening and
at little expense. We are prepared, how
ever, with stone and timber to erect a per-
manent strueture when necessary, with
the least possible detention, On the plan
mentioned in our last Report.
Although the earnings of the Canal
will be small for one or two years, we
feel sanguine that it will ultimately do a
large and profitable business. But 10
keep il in condition for a resumption OF
The carrying. when the Railroad will no.
be a competitors, it must be sustained by
more than It's prospective earnings. And
the Directors in view # that contingency,
have concluded 10 make no dividend this
wear, but to invest safely to the best ad-
van,age. what surplus moneys may be on
hand, to meet the Ordinary aud contin-
gent expenses necessary for the purpcs
and 10 make the Improvements recon-
mended by Mr.. Robinson.
The Mahoning Valley has the elements
for becoming The great Iron section of
the West, having cosl, free from sulphur,
in abundance, aud most mines are under
laid with a vein Of Black Band ore, pecu-
liar for its properties. Compounded with
a small percentage of Superior ore. al,
qualify Of iron is produced, very vslua-
Bile, and readily finds a market in Cleve-
land and other Lake markets, at largely
reInuneralins prices. .