Ashtabula weekly telegraph. [volume] (Ashtabula, Ohio) 1853-1873, 1864-02-13
From the New Lisbon Buckeye State.
The AshtabuIa and New Lisbon Raj Ir Dad

The AshtabuIa and New Lisbon Raj lroad.
We intimated last week that the resuming of
work on the Ashtabula aud New Lisbon Rail
road. and its early completion from Nilestown
to the Ohio River, depended upon the ability
OF the company to procure leases, of from
twelve to fifteen thousand acres more of coal
labds along the route. This will be apparent
when it is understood that the peeuniary means,
estimated as necessary TO build aud equip the
read are to be procured in Europe, through
the aid Of certain gentlemen connected with
the Atlantic and Great Western Railway Com
pany. These gentlemen are induced to render
their aid because the road, when completed,
will furnish the Atantic and Great Western
Railroad large amount of profitable freight
10 carry, thereby becoming a feeder to that
road. Before, however, they assume the risk
of raising the million of dollars deemed neces-
sary to build aud equip the road, they very
properly require from the Ashtabula and New
Lisbon Railroad Company guarantee that
given amount o. freight per year, for certain
number of years, shall be furnished the road
The lowest amount stipulated for per year is
three hundred thousand tons, and as this will
be composed almost entirely of coal aud other
minerals, as pledge of the ability of the COM
pany to perform its guarantee, they require
erai lands enough to furnish this amount oil
freight per year, for the number Of years their
guaranty shall run. 1t must also be borne in
mlnd that the money necessary to build and
equip the road is to be borrowed in Europe,
aud 10 induce Capitalists to advance it, n must
be shown that the road, when built, will be
profitable. The best evidence that can be of
fered them Of this will be to show them that
the company itself controls an amount of min
era lands, which can be worked at profit,
sufficient to furnish freight, not only for itself,
but adding largely 10 the traffic oil the At
autic aud Great Western Railroad, in which
they are already deeply Interested.
II is evident therefore that the coal
along the line of route must build the
road. There IS Two ways ia which II can
be made available for this purpose. The
owners ol The coal lands might subscribe
the necessary amount OF fuuus, aud render
the outlay profitable 10y working the VEINS
themselves. THIS they will never do. Ii
uney desire theD 10 avail themselves OF this
source ot wealth without outlay of their
own, they must lease 10 capitalists, who
wall build the road and look ~ the success
ful working OF the mineral veins 10 repay
them, and II is for This purpose they now
seek these leases.
The questions then for the owners Of
mineral lands to consider is, whether they
had better let their coal veins remain un
worked, or lease them 10 parties who Will
work them aud render them q source OF
profit. IL would seem that the principal
Of self interesl would furnish solution 10
The question, YET the procuring leases OF a
sufficient number OF acres Ut land TO insure
the road has been attended with great
trouble aud annoyance. The majority Of
the owners of coal iands IL is true have AZ
once seen their interest aud leased, but
there are others who appear 100 dumb To
appreciate theirs and have refused, or they
may nave been afraid they had not brains
enough to make PLAIN contract without
beiug cheated. The real reason, howevel
they have not leased We appIehended TO be
that they expect their neIghbors 10 furnish
mineral lands enough To insure the road,
while they retain theirs for future specula
tion. We warn all who desire the road to
be bull. against this policy, ID will prove
fatal mistake 10 their own interests
Leases sutiicen 10 make up thirty Thousand
acres must Oe procured within month. OIL
the whole project abandoned; as We have
said before from twelve 10 fifteen thousand
acres is still lacking. II Que man rsiase
to lease. his neighbors usually follow his ex