Raftsman's journal. [volume] (Clearfield, Pa.) 1854-1948, 1859-02-16
CLEARFIELD, PA, FEB. Is, 1859.
TYRONE & cLEARF1ELD RAILROAD.

The friends of this road will doubtless be
much gratiied to learn that its early compile
tion is now rendered nearly certain Its i'm
portance as feeder, as well as in other re-
spects, seems at last to have attracted the at
tention of the Board of Directors of the Penn
sylvania Railroad Company, and induced them
to take some action in the matter. In their
18th annual report to the stockholders, dated
Feb. 7th, 1859, TIE Board say =
"Application for aid toward furnishing the
iron rails to complete the Tyrone and Clear
field Railroad, twenty-three miles in length.
was made by that company, and after mature
ly considering the subject, your Board of Di-
rectors agreed 10 receive in payment of pas
senger fares and dues for freight that may ac-
crue for transportation to and from that road,
and passing on the Pennsylvania Railroad, six
ty per cent. in cash, and forty per cent. in the
first mortgage bonds of the said company pro-
vided the amount of the first mortgage. which
is not to exceed 5000, 900. shall complete the
road from Tyrone to PhiIlipsburg. This road
penetrates region rich in products of the
mine and forest, and when brought into use,
will doubtless be a valuable tributary to the
Pennsylvania Railroad, developing a portion
of the State which has hitherto been without
the facilities of reaching market"
This proposition, if we have a correct I'M
derstanding of it, contemplates that the Penn
sylvania Central Company is to furnish $780,
900 in stock and iron rails, put the rails down,
erect water-tanks and other conyeniences, fur
nish the running stock for the road, and take
mortgage for the above sum. payable in twen-
ty years, with interest. The ties are TO be de-
liyered by the Tyrone s. Clearield Company
at convenient points along the line, and when
ever they have any tolls for freight or passen-
gers to pay, the Pennsylvania Company Will
receive 60 per cent. in cash and 40 per cent.
in mortgage bonds-or, rather, give credit on
those bonds for that amount. The President
and majority of the Directors of the T. < C.
road are to be conceded to Philadelphia, in
order that the affairs Of the road may be at
tended TO with that promptness and dispatch
which are essential to success.
Should this proposition of the Pennsylvania
company be accepted by the Tyrone & Clear
field, and We have no doubt that it, or another
from which mutual advantages will be derived,
viii be, we may look for the most active oper-
atoms to commence on the line during the
ensuing summer, and completion OF the road
In a comparatively short time thereafter.
When the many advantages that are to be
derived from the construction of this road
the deVelopement OF our latent mineral wealth,
the enhanced value and importance which the
lumber trade of this region must necessarily
derive therefrom, the complete revolution that
will be effected in the mode of transacting
business, the immense trade that would con-
verge at this point, and the large amount of
money that would be saved in the cost of trans
portation-we say, when these advantages are
all properly considered, every individual who
has the prosperity and advancement of this
portion of our State at heart, cannot fail TO re-
joice at the bright prospects which now sur
round the enterprise.