Western Reserve chronicle. [volume] (Warren, Ohio) 1855-1921, 1861-02-13

Or S39.s3i 96 per mile
The Managers and Stockholders of this
Company and the Pennsylvania and Ohio
Canal Company deemed it advisable to
unite the two enterprises, and thereby pre-
vent the competition which would tend to
the ruin of both; and hence this Company
invested through Trustee. in the stock of
said Company S235. .224.62. This ar
rangement has proved highly benifcial to
both Companies, and eminently so to the
community through which the improve
ments pass. as by it both works are main-
taiued and preserved; whereas had they
been in rival hands. either the Canal or
the Road, or perhaps both, would have
gene to the wall.
In view of the difficulties in raising
funds, subjecting the Company to discount
on bonds and interest on floating debt,
amounting to the sum of S374.676.7I,
and the large amount invested in locomo-
tives. cars, shops, and shop materials.
amounting to s3l3.681,92, the Managers
fattcr themselves that the exhibit will prove
satisfactory.
Ids DGCu " luc TOllluS
stock of the Company. during the past year,
two locomotives and fifty coal cars at cost
of S40,643,4 AZ, which it is believed, will
prove sufficient for the buiness of the road,
for the coming year at least
The Road Bed, Bridges, Station Houses
and Rolling Stock, are all in coed con-
dition.
1t will be observed that there is yet due
;Grci Stuck subscription itne sum 81 ssllSS,-
1922, much of which is uncollectable,
and of the amount that can be realized, by
far the greater portion is due from parties
residing on the line of the road eastward of
Youngstown, all of whom subscribed with
the implied understanding that they were
not to be called upon for payment until the
work should be in progress in their imme-
diate neighborhood. But little therefore,
can be expected from this item until the
work is extended eastward When this
important event will take place, the Man
ayers dare hardly express on opinion.
The suspension of work upon the North
Western Road deprives us of an outlet in
that direction, even if our road was finished
to New Castle. We have no adequate
means to build our road to New Brighton,
and hence, important as it is that we have
direct railroad connection with Pittsburgh,
we must for the present look upon Youngs
town as the eastern terminus of our road
From this point we have an outlet for
freight to the Ohio Rriver by means of the
canal True, this is inconvenient and un-
certain, and in consequence subjects the
traffic to damages and delays. Still it is
advisable to put up with all this, rather
than again put all in jeopardy by the Gre
alton of another floating debt. l
The Managers of the Company should,
however, avail themselves of the first pos l
siblc means in their power to finish the {
road to New Brighton. The entire dis
trict of country traversed by the road from |
Youngstown to New Brighton, is rich in I
coal, ore and limestone. The country is |
thickly populated with an enterprising and c
wealthy class of men, II us giving every
assurance that the local trade alone will .
be amply sufficient to sustain the road /
when built In addition to this. our road
would then command at least share of a
the through business between Cleveland t
and Pittsburgh, thereby adding to the in 0
,Ome of that part of the road now in op- ]
,ratioD t
The Managers take pleasure in calling v
four attention to the opertiOns of the road S
or the past year, full particulars of which G
will appear from the Reports of the Super G
and Treasurer, herewith submit u
ed to you. n
Too much commendation cannot be Civ !!
n to the Superintendent, Master Machin- L
st, Road Master, and the several Conduc- e
ors, Engineers, and Brakemen, for the G
are, yigilazee, and economy they have "
'everally given and exercised in promoting Il
he interests of the Company. To these
Gentlemen We are indebted for our ability g
o again announce to you that we have /
'assed through another years business L
without injury to life or limb. d
By order of the Board of Directors, el
DAVID TOP, President. b