The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1868-12-23
TIE CuEsAPEAKE AND OHIO
RAILROAD.
A Complete ana Comprehensive
History.
The Distance, Cost. Profits OF the
Work, md all About 1t.

wards OF 400 miles.
The Virginia Central Railroad, IN
Guiding the Blue kiuge hailIoau I'LL, I'LL
structed by the State, covers iltle
more than onC-halt OF this line. anu To-
pether have cost nearly SO,OOO,o0O.
The Covington and Ohio railroad, me
construction of which was undertaKen
bv the State of Virginia alone, has
~ dale cost about s., 25O, 600. Since the
erection of the State OF West virginia
nearly tho whole of tho unfinished line
| Is included within its limits.
The important ends TO he Salheu ny
the completion of the COvlnRtOn anu
Ohio Railroad led to Identical action on
the mart of the two States most interest
ed, and under acts passed by the leg
islatures OF each in 1867, commissioners
were appointed whose duty u was 10
contract with any party when coulu
give satisfactory assurance OF p E
able TO complete the road between Gov
lineton, Va, and the confluence oil Inc
Biz Sandy with tho Ohio river. me
acis specially referred to the virginia
Central Railroad Company, ana pro,
yided that in case that company should
lake the contract, they should acquire
all rights, interests, &c., In the work
now held by the States atoresnlu anu
under the general title of the Chesh-
peake and Ohio Railroad Company Do
come owners Of the line. .,..,
| The CLesnpenke and Ohio Railroad,
"a Tins organized, will begin at Rich
mopd and run west through the Alle-
vhany Mountains and West virginia 10
The Ohio river, IA distance oil iQo lhlIes'
4 branch hne will also be Dullt from
point IA miles west oil Chatiestoht w:
Va 10 Point Pleasant, thereby making
two termini on the Ohio river ana con
nections with the network OF rHlIrOaus
already completed or now being con,
sIructSd in the Northwest, West ana
southwest. At Richmond direct con
| ,tNVfNl 4, Point
deep waters of York river and also with
Norfolk, 4 line is also projected to
, connect with Newport News toHetheT
giving the road three termini on the
Tide waters of the Atlantic ocean
On the 3Ist of August, lS6S, the com
,isSioners amounted under the acts
aforesaid and the Virginia Central
Railroad Company signed 81 contract
giving to the latter theauthorlty heces'
sary 10 construct the line from CofinR-
ton. together with all the franchises
&C. conferred by said acts. ana from
Ihnt date the Company assumed the
title of the Chesapeake anu ONO Nall
road Company. -..,.D,, q,
complete the road is about Sl3,OOO,OOO
OF this about 50, OOO OUO mas Deen Secut . q
st bv stock subscriptions ana the remain
=, dor NV the issue of bonds secured by
IN fresh mortgage on all present ant
Tnture property of the Company. 70
this purpose "a mortgage Tor SlU.uVu,UO
wns executed on the first day Of Octo
her 1865. the trustees being Phiio
Cslhoon' William Butler Duncan an
If TVilIiam orion of New York, an
Mathew +. Marry OF Virginia. In
bonds issued under this mortgage nav
as thirty years to run from Octooer Is
IL 1865. and are made payable Prihc,PH
ny anG interest in gold, either i'll New 1or
CITY or London. They bear seven p'
I. cant. interest free from United STATE
Government tax, payable IN goIu
sterlinC, at the option of the ho!uer
The mortgage deed also provides for
acrnn,ulaIiye sinking fund, to con
mance one year after the completion
tho road. Ofthe total issue authorize
81 600 Geo are to be set apart in trust l.
inc payment Of the bonded aud noatli
q debt OF the Virginia Central kaiifoi
~ Company, to whose property: rlHh'
ITanrhes, &c, the Chesapeake al
ohio Railroad Company succeeds.
snecial acts of Virginia and West
al pinia all the property OF the conpai
- ia exempt from State taxation until
per cent. dividerds are deciareui ~
net earnings upon the capital stock.
The Chesapeake and Ohio RatITo
will mass through a country aboundl
in natural resources-iron' con,
salt being among it's principle prouuc
@ 1t will connect the Western wnters L n
10 those of the Atlantic by the snort
line and at its ocean termini find b
hoTs capable of receiving the larS
class of ships. Norfolk has = II
Newnort News % feet and West 10
81 feet water. The distance from ki
mOnd to the Big SANDY IL lUn III" III
Point Pleasant 39S miles. FROM III
mnnd TO Cincinnati, by the Chesapei
and Ohio Railroad, the distance
, si5 miles, TO Louisville GIL mi
to Chicago 792 miles; ana
st. Louis $50 miles. 80, me c Snc
:iaIIy natl 10 New York is 756 miles, II
Chicago to New York 81 miles,
rom louisville TO New York So mi
NO II ia thus apparent that the distaI
% from the Ohio river to tide water
much shorter by this route 'hni
..,. now existing, and also that it must
! 1H 1na the order of things, become str
TORE competitor for the commerce orig
ting in the great interior aud agEr'
while ting in the Atlantic seaboard Pr
eeO The establishment OF steamship
from Norfolk TO the principal Ire
norris ia a part of the programme.
If we were to measure the ullln
sncrass of the whole road by the sue
n: a part which has been in opera
for years, we should fall short OF
IL promises to be the actual result
existing portion OF the line hns
eastern connections, and It's term
nts. Ia in the midst OF n wild ana put
at Toe tally improved country. 1et IL
St,, vpaF 1867. is, the gross earnings nlC
ID de. ed TO 500, 35i 90. and the nett earn
after paying all expenses on acco W
operations, amounted to SloZ',l
enough to pay per cent on the
outsianding debt and liabilities 0
u company and leave constueraole
nIus for the stockholders. AS Inc
~ extended to the Ohio, IL VIII
Capesi have changed its local character
and assumed those of great |
line, and with this change must
~ far more favorable results.
THE speeches in Congress on u
Eyle oagion or the announcement o
/ Steveu's death show that the old
ningA .IOGuent left behind him no me
Ell .o,d Of that body capable OF pronoun'
10 really fitting eulogy. Some oil IN
things said OF him were salu
I political opponents. The remar
Senator Sumner-from whats
- ,,,r- Greek and Roman authors adoI
10 ~" were pretty good. The fling OF 81
Ruckalew merely showedthat IN
.ONEY a @S.S as Of old kicks at the dead Ii
RESPECTABLE people will be &
hear that Brick POmery's New
Democrat is in sinking conditlo
drawing heavily upon the La
s, Wisconsin, concern to keep IL q
little longer. Subscription TO Dol