Ashtabula weekly telegraph. [volume] (Ashtabula, Ohio) 1853-1873, 1859-07-23


RAIL Roam MEET1No---The meeting ofstock-
holders Of the Ashtabuis & New Lisbon Rail
Road assembled at Fisks Hall on Wednesday
last, in goodly number every part Of the line
being represented. The proceedings Of the
meeting were marked by very little diversity Of
opinion. The special object of the meeting as
was stated in the call, was to authorize the is
suing Of bonds TO an amount sufficient to pro-
cure the iron and equip the road The sub
scriptions are deemed sufficient to prepare the
road bed, and parties are confident and stand
ready to undertake the negotiation of these
bonds at a reasonable rate for securing the rail-
Letters wero read, giving the most encouraging
opinions OF the business, present and prospec-
tive to amply sustain the road. Indeed the
beds of superior camel coal along its line, will
go very far to do this from the manufactures to
which these beds have already given rise, from
the transportation Of these other Goals, to the
lake for manufacturing purposes in New York,
and other eastern cities. One firm alone has
present orders for 5000 tons for New York city.
This branch of trade is not matter of remote
probability. 1t is already inaugurated, and has
been in operation for years on the Pitts burgh
road. The docks of Cleveland testify to the
business Of shipping this kind of coal in large
quantities to New York for the Gas manuac.
tories Of that city, and also for the manufacture
of oil, from which so large per cent is obtain
ed, and for which the demcnd is so great, and
chi Ap 81 . &.
cannot but congratulate the friends of the road
generally, upon the uuspicious signs of an early
completion Of the work, and the abundant rea-
son they have that when completed it will be a
sef-snstaining and growing institution. The
following resolutions were adopted unanimously:
RESOLVED As an expression of the sentiments
OF this meeting, that whenever in the opinion of
the Directors Bonds may be sold of sufficient
amount, including present available means to
put the road in condition to do oil the busi-
ness which may be required Of it, by the de-
mands of the country the interest Of both the
Company and public demands, that no time be
lost in affecting such sale.
That while thus unequivacay expressing our
opinion of the policy and safety of borrowing
money we declare that the question of pre-
sent or future time and condition, and circum-
stances, when and where, under which money
may be borrowed, can be we'll determined only
by our officers, such questions in detail requir-
ing more careful and thorough examination than
stockholders at public meeting are able to
bestow, and we, therefore, rely on the sound
discretion of our officers, and will sustain them
to the extent of our ability.
ResolUed, That while thus expressing our
general views, leaving details to the wisdom and
sound discretion of our officers we concur in
the opinion known to be entertained by them.
that until the bonds of the Company can be
sold on favorable terms, the Directors without
suspending their efforts in increasing the means
of the Company at home, especially along the
central portion of the line, and forwarding all
other matters, preliminary to superstructure,
postpone the sale of bonds