Bedford inquirer. [volume] (Bedford, Pa.) 1857-1884, 1862-02-14
REPORT OF THE PRESIDENT AND d.
RECT0RS OF THE BEDFORD RAILROAD
gUMphNi.
Office Of the BedJord r. X. Compaay,
Bedford, Pa, Dec. 81, 1861.


Bedford, Pa, Dec. 81, 1861.
The President and Directors of s.The Bed
ford Rail Road COnpaay," would respectful
ly submit 10 the stockholders the following re-
port of the affairs and proceedings of the
Company during the year ending on the 8 lsf
day of December, A. D. 1861.
The stockholders are aware of the fact that
during the year 1860, all work upon the road
except TO small extent upon sections and
two, was stepped. The same causes which op,
Grated to discontinue The work during that
year, prevented anything being done during
the first nine months of she year just closed
Dull, Collins d Co., TO whom the contract for
the graduation and Masonry of the first
twelve miles or sections had been awarded IL
1859, after doing considerable amount OF
work, rslinquished their contract, and the
Company owing to the refusal of a large ma
jJrlty Of the stock subscribers to pay their
subscriptions, being without means to prose-
cute the enterprise, it seemed, for while,
that ell hopes of carrying 1t through would
have 10 be abandoned. IL had friends, how.
ever, who would not, aud did not, giYs il up
10 despair, although the difficulties surround
ing 1t appeared 10 be uusurpountabls, aud lhe
prospect was very gloomy one, the worst feas
ture of II beiog thai the persons who would
Dc mos benefited, aud wbo at one time were
suxious tor the success OF lhe project bad ta-
ken position of hostility TO 1t. Nothing Of
interest trahspired in the business OF the coms
pany until the 24th of june last, ON which
day compromise or settlement with Dull,
Collins & Co., was affected, and all tonoec-
tion between them and the company then eeas-
Ell. AT that time, and sooE after, six OF the
nonresident directors, who had been elected
Ia January last, resigned their places, aud the
vacancies we're filed by the appointment Of
citizens OF the county who we're known TO
be friendly to the Improvement. About the
first Of September last through the influence
and Invaluable exertions OF Wm. z. SchsIl,
Esq, who may with truth be called the iather
of tns Bedford CT the Bedford Rail Road, and
to whom when it is completed, the people Of
Bedford and Its vicinity, will be more lndcbi-
ed fer any advantages 1t may btiug them, than
10 all Others beside, al Arrangement was
ulade with the Penusy lvania Rail Road Conn
pany, by which, lt Is believed that the hsst
Twelve niles OF our road from dopeRell to a
point near the turnpike about mile aud 3
balf west OF Bloody Rua, viii be finished and
put in complete rapding order. The details
OF this arrangement cauuot Dow be given, a.
the contract between the two companies has
DOT yet been fully cousummated. Tne Impor,
tant provisions Of 1t are briefly these: The
Penn'a. Il. Il. Go. is to pay to the Bedford X.
4. Go. the SUN OF SlS,OU0, in cash, OF which
$4,000 are to be applied 20 the payment in
part. of thu $4,000 which by tue setllenent
above mentioned with Dull, Collins & Co., our
company agreed to pay them. The remainder
$4,000, is to be expended in finishing the
graduation and masonry of those twelve miles.
! The Penn'a. r. Il. 20. is also to furnish the
money to complete the entire supsrstracture,
s,,..inos. tprnouts, Eaterstsllons, turn-table,
&c. The BedforG 4. X, 20. Oh It's part, Is e
issue, execvte add deliver to the (. y. H. 70:
two hundred bonds for $500 each, With cou-
pons attached--the principal thereof to be
paid nt the end of the twenty years tEom the
date OF said bonds, and the Interest, at the
rate of six per cent. per annum, 70 De paid
semi-annualEy. These bouds are 70 be secur-
ec By a mortgage OF SAID twelve miles OF
ral road. real estate, DC. &c. The Bedford
r. Il. Co. is also TO execute a release TO the
r r.. r. Co. under and By virtue OF the att
entitled san Act for the communication of ton,
age duties" OF the above mentioned sum OF
SIS 900, the sum OF $l3,000 has already
been received By our company, OF which the
sum of $4,000 has been paid apOa lbe jadg,
msnt of Dull, Collins i 20.
Soon after the foregoing arrangement was
made with the p. Il. Il. Co., it was determine
ed By the board of directors to let the con-
tracts FOR the completion Of tho graduation
and masonry Of the irst twelve sections, and
letting was aecordingly advertised, aud on
the 2ata OF September last, the contracts were
awarded, as follows, viz:
Sections & 2, to james Hsfner at S2II7 60
3,4&5to IN. Campbell 90 562U 90
< S&9lo j. M Campbell a 1851 40
!" & Z 70 Thos. b keatine AZ 1915 90