The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1867-03-05

4I0ttOTo LHtetttgeHSeT" 8
i have carefully read the Act relating
to this Company, published in recent
OF your paper, and propose to
examine ii in connection with existing
facts.
The new State in '63, became the alb
solute owner of the line of this
road, as far as her East line,
with the half million worth of
work that had been done upon it be-
tween Charleston and Guyandotte.
On lookingatthe map, everybody must
see il is the key to by far the shortest,
cheapest, and in every respect, most
desirable communication between the
West and tidewater; and, without II,
the old State and her harbors must re-
many of her railroads Commencing
everywhere and ending nowhere" and
built with view to War, rather than
Peace-compHrative valueless. With
these unequnlled advantages, which
this key gives the new State, have
always looked upon the COvington and
Ohio Railroad as self constructing from
its ot1n Intrinsic merits, when the old
State shall be republicaniZed and safe,
and capable of producing vast benefit to
the State, without dollars expense to
her, ifwisely and prudently managed.
What has she done thus far? March
Sd, 1864, she chartered the West Vir-
ginia Central Railway, and transferred
TO that Company the portion OF the
Covington and Ohio Railroad route
West of Charleston, with the half mill
lion worth of work. Much has been
promised by this Company, and various
legislation has been made since respect
ing it, but not blow has been struck to-
wards its construction. Just as the
Legislature of 1866 was about to adj
journ, Commissioners from Rich
mond arrived at Wheeling with
certain Acts, touching the Covington
and Ohio Railroad and Virginia
Canal Company, pissed by the
same Legislature at Richmond, that
had on the 9Th of December previous,
repealed the Acts OF the Wheeling Leg
islature passed in SO, giving consent to
Berkeley and Jefferson counties becom-
ing part of West Virginia, and asked
our Legislature to cooperate in relation
to both subjects, which it did, thereby
mond Legislature, which Congress has
all the while denied. Our Legislature
granted charter giving full control of
the balance Of the route within her ju-
risdiction, and authorized the company
to make the best terms it could with
the West Virginia Central Railway for
the portion between Charleston and the
mouth of Big Sandy; and appointed
five commissioners TO cooperate with
those of the old State in disposing of the
| charter to such capitalists as would
give the best assurance and security
that the road should be commenced and
built agreeabIy to the charter. The
| charter contains an express provision
that the work should be commenced in
six months and completed, from Cow
| ington to the Ohio river iH SIR years; and
on failure in either particular, the
whole to become forfeited and reveSted
/ in the State. These commissioners, at
I IL
who has been disabled during the last
six months by sickness, have failed, it
seems, to effect such contract. And
now comes the magnificent scheme you
publish which our last Legislature has
sanctioned and enacted into Law. 1t
appoints five commissioners, two of the
old and three new ones, and clothes
them or any three of them without the
concurrence of the other two, with full
and unlimited power to contract on any
terms they choose, directly with the
| West Virginia Central Railway or the
| Virginia Central Railroad, to construct
the Covington and Ohio Railroad with
in six years, commencing Then It
chooses. And thereupon the name of
the railroad 50 contracted with is to be-
come changed to "the Chesapeake and
Ohio Railroad Company" which is to
| absorb all the powers, privileges, and
rights conferred on the Covington and
assuming any Of the material obLigG-
tons and conditions imposed by
the same, and possess without
any limit of time or otherwise,
the power to absorb at will the other
road named, and the South Side Rail.
road from Petersburg to Lynchburg,
and the Norfolk and Petersburg Rail-
road from Norfolk to Petersburg, or
any one or more of them-to purchase
the Blue Ridge Railroad and build u
| road from Lynchburg to Covington, as
well as other roads In old Virginia; to
possess "A capital of thirty millions and
hold JiUe millions of acres of land for ten
| years. (See sec. l4.) Or if our commits
sioners or any three OF them elect, they
may ut once open books and organize
the Covington and Ohio Railroad Com
pany, which, as soon as organized, is to
have full power to consolidate with all
or any of the foregoing Companies, and
thereby acquire the name of "the Ches-
apeake and Ohio Railroad Company"
with all the powers, rights and privil-
| eyes, but tCithOut the obligations aud con-
ditiOnS as before stated. AS l said be-
| fore there is no time fixed for COM
| mencinE work on our road, nor is there
any provision that it shall forfeit If our
road shall not be finished in six years,
It is exempted from taxation until its
net profits shall be 10 per cent, which
exemption is in the charter dated March
new Company.
| As soon therefore as three of the Com
missiouers, even against the consent of
the other two, shall contract directly or
through the Covington and Ohio Rail-
road Company, which they can easily
! organize Tor the purpose, the consolida-
ton is effected, and West Virginia loses
forever her valuable key before stated,
which will pass at once perhaps into
the hands of mere spectators and our
road may or may not be built within
| the six years, as shall best suit the
wilkins and speculative interest of that
class of men, and if it shall be built, il
will be owned and controlled by
Company likely to possess three times
the power possessed by the Baltimore
and Ohio Railroad which has ever
since our State was created, set
our laws at defiance, with entire
possess any power to restrain or check
the monster corporation when once
former, for she has, reserved no such
power, and the recent Act it has passed
Will become apart Of the Contract
which her Commissioners may make
and as such will be protected as invio-
late by both our own and the Federal
Constitution. Old Virginia, and per
hSpS the private stockholders, would
have no doubt have made a present of
one or more of their dilapidated roads,
for the sake of securing the use of the
key we hold, and line of railroad from
the Ohio to Richmond and Norfolk: but
the Act of our Legislature expressly
provides for a purchase and payment
of par value in her bonds cancelled
See sec. ID.
There Is no doubt, If Old Virginia
could and would give her interest in
one or more of her CiIapiGated roadS -