Bedford inquirer. [volume] (Bedford, Pa.) 1857-1884, 1868-06-26

1t confidently expected that the entire roaC
will be in working order. and the city of Cum
berland will be the central point on the grea
highway from the West to the National Cap
ital, between Pittsburgh and Washington
Cumberland Ciciltan 18Th inst
PITTSBURGH AND CoNSEIIsvIILE RAIr.
RoAD.-The following circular has been issued
by the management of this road, which We
publish for the benefit of those who may have
funds to invest, and to exhibit 10 our people
what is claimed for it by those who are best
informed:
The attention Is respectfully iagited to The
First Mortgage Bonds the Pittsburgh and
CoRuellsriUe R. R. Co., and their Security
as First Glass Investment. description Of
road.-It is designed to connect Pittsburgh,
/ in Pennsylvania, with Baltimore, ia Maryland,
| ria the Baltimore and Ohio Railroad, which
it reaches at Cumberland, passing through
| the counties of Allegheny, Westmoreland,
Fayette, Somerset aud Bedford in Peunsyl,
vania, and Allegany, in Maryland. There is
already in operation the portion between
/ Pittsburgh and Conuellsville, in Penusylva-
nia, constituting about two-ffths of the work
with It's branch of twelve miles to Union
town, about seventy miles-and which earned
last year about $1,000 per mile.
| The remaining three Gfths, the part yet TO
be completed, lies between ConnellsyilIe and
| Cumberland, about ninety miles. Upon this
| there has been a considerable amount Of work
done-the summit tunnel of 1900 feet in
length, being more than half finished.
1t is the shortest and cheapest route from
Pittsburgh and the Northwest to Tidewaier,
and by the Metropolitan Branch of the
Baltimore and Ohio Road viii be seventy
five miles shorter than any possible line to
the City of Washingtoa-giving it n9tional
importance:
As Path to the Sea-" its relative ad.
vantages will be shown by the following table:
From Chicago, ria Cleveland, Buffalo and
Albany, to Iidewater at n. York, $50 miles.
From Chicago ria Cleveland, and
Dankirk, TO Iidewater at New
\ 1Ork ......... .......-. y0S "
From Chicago ria Pittsburgh, to
Tidewater at Philadelphia. S33
From Chicago ria Pittsburgh, TO
Tidewster at Baltimore............ 794 81
A gain over the shortest line in
miles ...,.....,....-:..... -...-......- 2G :.
/ And by equation Of grades..-.-.....- 20
A gain over the y. Y. Central Of. $50
:, and Erie Of. 1C4
From Pittsburgh to Washington
City ria Harrisburg ................. 374 g
From piftshurgh 10 WashiugtOu
City ria Cumberland aud the
Metropolitan Railway, ............ 800 =
A gain Of ......... ......................... Is ="
The magnificent natural harbor Of Baltimore
the lines Of steamers successfully operating
between that city and Europe and every
principal point upon this Continent, give
assurance ofevery needed facility to shippers,
and the saving in freights alone, resulting
from diminished distance, viii be a fair profit
upon ordinary transactions.
Funds Needed to Finish the Work-The
amount required can be met by the sale of
the present issue of 81 4,00O, 900 Of first mort
gage seven per cent Bonds-the entire pro-
eeeds of icbich ,ciH be deroted ezcIusirely to
building the road from ConnellsUiHe to
Cumberland. The security offered is first
mortgage upon the entire line between Pits
burgh and Cumberlanda excepting the ten
miles nearest Pittsburgh, upon which there is
q prior lien Of (S4O0, COO four hundred
thousand dollars There is also included in
the security Of the loan now offered, all the
equipment now possessed and hereafter to be
acquired and the earnings Of the completed
portion, which at present loould pay the
interest on large part of the loan. The
gross earnings for the year 1867 we're S49s.-
oo0 and f.om purely local sources. If only
the present rate per mile OF gross and net
earnings be maintained, there will be a large
excess over the necessary amount.
There has been already expended in the
road and its equipment about four millions Of
dollars. and when the proceeds Of the present
mortgage are invested in the line the basis Of
the security win be seen to be ample. The
Baltimore and Ohio Railroad eyinces It's
interest in the work aud confidence in the
value Of these bonds by prompt subscription
Of one million Of dollars The City Of
Baltimore has shown the same feeling by the
retirement Of her first lien upon the road in
favor Of this issue.
B'lsiness.-This road possesses the re-
markable feature Of being the only remaining
route by which Pittsburgh and the Northwsst
can reach tidewater. IL an economic point Of
vieO Il can aeusr hare riual.