The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1869-01-20
4 LIffL.L- CO -44a-a , 80 rd.-- et ~ sAtcs
Pittsburgh Port Wayne and Chicago
Railroad.

One of=the most important roads
running out Of or, into Chicago, is the
Pittsburgh, Fort Wayne and Chicago
roads, a fine that has long and Justly
been celebrated If0r the solidity5 Of Its
stock and the energy of its, mauage-
ment, 1t was commenced at the boun-
dairy line between the States Of Penn
syivaniA and Ohio, July f. IS49, by
the Ohio and PennsyIVania Railroad
Company, incorporated by an act Uf
the Legislature OF Ohio. and by, q
concurrent act OF the Legislature of
Pennsylvania. The eDtiFe track was
laid and the road opened for use be-
tween Pittsburgh and Crestline, q dis
tance of IS7 miles Aprile Ill, 1853.
Crestline was thus then made the
western terminus of the road in view
of the certainty that the line would
be practically carried to the western
boundary of Ohio by the building Of
the Ohio and Indiana railroad in the
direction OF Fort Wayne, aud the
building of the Bellfontaine and Indi-
ana railroad in the direction of Indian
apois- On the 2Sth of January, 1862.
the directors awarded to Mitchell &
Co., the contract for bnilding the road
from Crestline to Fort Wayne, a dis
tance of I3l miles. @ So vigorously was
the work prosecuted, that on the 1st
OF November 1858, the road from Pitts
burgh to + ort' Wayne was ready for
| use. 10 s-Pl- iFs-5lg 1it E lidrf0 20
The anxiety then became general
to have a western connection with
Chicago, and the passage of-an act was
| secured in the Illinois Legislature in
cooperating g=the -FAort= Wayne and
Chicago Railroad. Company, thus Civ
! ing the Indiana corporation legal ex-
istance in this State. The location of
this line was begun in 1852, and COM
Pleted to Columbia city, twenty miles
from Fort Wayne, in FEBRUARY, 1856 /
AT this time it became evident that
to secure the early completion of the
line TO Chicago, some plan for har-
moizing all interests and creating q
unit ia the, management would have
to be devised. T "a plan for. the con-
soiidat1on of these three corporations
into one was proposed and adopted,
and the Pittshurgh, Fort WaYne and
Chicago. Railroad ompanys whose
| formed tforty-ffVe miles Between
/ Colum bia-6 City and Plymouth was
completed on the 10th of Novem-
Der following and on the same day
the portion of the Cincinnati Peru
hank Chicago railroad between Ply
mouth and Laporte was 1isO compiet-
ed, q So that, on that day, line was
opened between Pittsburgh and Chi.
eago for the trafIiciof the NcrthW est,
384 miles in extent, Jog 90 sIivg2 sh I
lna0n the lst of January, 1850 the new
company executed a mortgage on their
entire property for l$I0, 600 y0O09TO SCI
cure an issue of the same amount OF
thirty year bonds divided d9into two
classes as follows SO, 300, ,000iC Cohstruc-
tion BondSst0 be uSsdia- a-tl1e construc-
tion and equipment Of the road, 1and
S6, 800, 900 Redemption Bonds to +, be
used IN redeemfng all the issues of the
old corporation. fies9i3 DIh DstbhEh /
| to complete its track to Chicago. In
December, 1853, the bondhOlders
commenced proceedings for forecIos-
ure and the property was placed IN the
| hands of q alreceiveF.S Soon after, the
whole property was soldsland Jpur-
chased in. for the benefit rof the cred
itOrS OF all classes. A new CORPORATION
/ was created to hold the properly,
batE'FOm the commencement Of this
great enterprise in 4849 to the con-
summation of the plan of reOrganiza4
tion in 1861 nocreditOr OF the company
was required to abate, one dollar from
any inst claim j. all such debts, with
interest, having been paid in cash, or
in the bonds of the company. si4lii
aIn our present issue, I'VE are unable
| t. present the speeifie figures iregard !.
| ing the Operations, of the past year,
but viii publish them, rs soon as the
returns can be forwarded from the
rcompany headquarters at Pittsburgh.
The total earnings for the year, how
ever will be it's estimated, be some
where in the neighborhood of $50, :
600, 000.i = 9e1Iicdgo Replt6liccot.. slill''