The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1866-11-24

Marshall county against the road has
been argued and isnow in the handsof
the court for decision. The suit of
many other counties will follow that
precedent into the Court of Appeals.L
Taking the company's own estimates
of the value of its property in this State,
and enforcing the general tax law on
that valuation, and there would be COM
ing to the State, back taxes at the rate of
$4,000 per year since 1856. Marshall
county claims for the years 1854, '65 and
'66, principal and interest, the sum of
$2s,73S %. And her claim, and those of
all the other counties, are exclusive of
the dues coming to the State itself. The
whole aggregate is immense, and we do
not wonder that the company was quite
anxious to compromise It before the
Legislature last winter. But in order
to compromise they must first
redress the grievances of the people,
in the way Of an abatement of extor-
tionate rates and unjust discrimina-
tons. No compromise on the part of
the State should omit rectification of
the wrongs complained OF not only by
the Fairmont people, but the people
along the entire 243 miles of the road in
this State. We need not rehearse the
old story of those wrongs. They must
be familiar to every man, woman and
child that reads the newspapers. Ey-
erybody hereabouts knows that gener-
ally speaking it is cheaper to ship
freight from Cincinnati, and OCCASION
ally from Chicago, to Baltimore, than
it is from Wheeling to the same point.
And it costs, we presume, merchant
in FairmOnt considerably more to get
n bill OF goods through from Philadel-
phia or New York to that place, than
it costs our merchants in Wheeling for
80 miles additional transportation. We
can avail ourselves here of a competing
route, but the unfortunate merchant at
Fairmont cannot. He must pay what
ever toll the company chooses to put
upon him. We need not enter into de-
tails and specify the enormous rates
charged between local points along the
line of the road. The people complain
of them very bitterly, we are told, and,
we suppose, they will mainly occupy
the attention Of the Grafton meeting.
II there was any need of this policy
on the part of the road, by virtue of its
necessities, there would be less room to
protest. But it is perfectly well known
that the revenues of the company have
been absolutely enormous. We risk
nothing in saying that there are not
half a dozen lines in the country that
surpass 1t. The stock of the Camden
and Amboy road is hardly a better or
surer investment. It must have sur
plus fund, at this time, of twelve or
thirteen millions of dollars. On the
first of October, 1868, 1t had upwards
OF nine and a half millions, and for the
three years ending at that date, it laid
by the snug sum of five and halfmil-
lions. We have not seen a statement
of its earnings for the last two years,
but in 1863 it cleared 80 per cent. net
profit, on its entire capital stock. 1t is
known that during the three years end
ing on the first of October of that year,
the company cleared 60 per cent. profit.
And this, too, recOllect, in spite of all
Its stoppages and extraordinary ex-
penses. The average earnings for ne
last nine years are computed to be
above IS per cent. net on the. capital
stock, which makes the road a royal
Investment.
While our people generally take
pleasure in the success of the
road, and wish for its continu-
ance and increase, yet, at the
same time, they recognize that the com
pany is not that sort of an ally, helper
and protector of their interests that it
ought to be. Not such friend, for in
stance, as the Camden and Amboy is to
the people of New Jersey, where in
stead of charging the local travel and
trade more than the foreign business, it
Is charged less. They feel that the Bal
imore company has great resources
and large profits, and has no need to |
impose heavy rates upon them in order |
to sustain itself. And, therefore, it is
that the Legislature will, at its session
this winter, demand full settlement
Of the arrears Of tax due by the compa-
ny, or such a compromise as will in the
future protect and advance the inter
ests Of the people ofthe State.