Western Reserve chronicle. [volume] (Warren, Ohio) 1855-1921, 1871-09-06

From the Cleveland Herald, Sept. 1, 1S7l.l
The New Departure Of the Atlantic
and Great Western Railroad.
AT noon of Friday, September LIST,
the Atlantic and Great Western Rail-
way, with all the property connected
with that organization, was formerly
transferred by the Receiver to the
Trustees under the reorganization OF
the Company. The stransfer took
place at Akron, and on its completion
the three Trustees, General McClel-
Ian, Judge Thurman of Ohio. and MI.
Duncan Of New York, took possession
of the railroad and all its appurte-
nances in behalf of the newly organ
lied Atlantic and Great Western Rail
road Company.
The new organization comprises all
the various classes Of bondholders,
with the exception of a portion of the
bonds held in Holland, and so many
Of the stockholders as signed the
agreement and consented to the seal
ing down of their stock. It isbeliev-
ed that by far the greater portion Of
the stockholders have come into the
arrangement. There is nc opposition
to the scheme on the part of the bond
and stockholders who have not come
into the arrangement, they merely
preferring to take their chances out
side of the arrangement. The Dutch
bondholdeE have been paid their
overdue interest, and are now work
ing in harmony with the new organi-
cation. The stockholders who stand
out do so because they think the in
vestment is good, and that after the
bonds have all been provided for there
will be more value left in the common
stock than is allowed for it now in
scaling down for the new organization.
The Trustees who now have tempo
rary control of the property, during
the perfectment of the re-organiza-
ton, will probably surrended their
trust within thirty days to the Com
pany, when General Mcclellan will
become its President. Of the other
details of organization it would be
premature to speak as yet, other than
to say the arrangements are such as
will guarantee the efficient, economi-
cal, and thoroughly satisfactory work
ing of the line, to the best interests of
the proprietors and the public. The
future policy of the company is to be
a wise liberality in furnishing facili-
ties for the prompt and satisfactory
dispatch of all the business offered
the road, no matter how great that
may be, and especially for the foster
ing of the local interests along the
line.
All arrangements with the Erie
Railway Company ceased at noon on
Friday, and the two lines are now
merely connecting roads. This, how
ever, will work no inconvenience to
the travelling or business public, who
will have the same facilities as before,
to say the least. Important changes
are in contemplation, and will be
commenced at once, the object of
which is to make the Atlantic and
Great Western independent of the
Erie, whilst maintaining friendly
relations with it. A few of these
changes we indicate; others in con-
temptation it is not yet proper-to an
nounce.
The first step, to be taken immedi-
is the laying a double track
marrow gauge(, with steel rails, on
the Cleveland Branch cleveland and
Mahoning.) This is rendered neces-
sary by the immense business, local
and thorough, pouring over the line
between Leavittsburg and Cleveland.
At the same time the rolling stock
will be enormously increased so that
the business offered the line, now
very largely in excess of its capacity,
can be promptly and satisfactorily
done.
The rails taken up from the Cleve-
andBranch viii be used towards lay
ing a third rail from Leavittsburg
eastward so that narrow gauge airs
IAN pass over the main line east
IF Leavittsburg. Arrangements have
been perfected with the Phila-
lelphia and Erie Railroad, by which
narrow gauge traffic between Cleve-
and and Atlantic cities can pass over
he Atlantic and Great Western to
and thence over the Philadel-
lhia and Ene and its connecting lines.
Connections will be made with the
New York Central also, either over
he Buffalo Division of the Atlantic
md Great Western, which in that
,ase will be completed without delay,
II over another line in course of con-
itruction. With these arrangements
completed, the Atlantic and Great
Western will form part of q narrow
,auge line by way of Cory, Harris
Durg, and Philadelphia, anothar mar
ow gauge line by way of Buffalo and
he New York Central, and a broad
,auge line by way of the Erie.
The building Of a short line, twelve
II thirteen miles, from the Mahoning
inc to the Baltimore and Ohio EX-
ension, will open a new and short
cute between Cleveland, Baltimore,
nd Washington. Other projects are
contemplated, by which, without
-reat expenditure of capital, new
utlets and feeders will be secured to
he line and its value enhanced. All
hese plans, when carried into effect,
will be directly beneficial to Cleve-
and.
The new managers Of the line will
inter- on their duties backed by the
ull confidence of the owners, by a
arge capital, and fully restored credit.
dr. James McHenry, who is here to
id in ~perfecting the reorganization,
as labored steadily and persistently
o secure this result, and has been
ully successful. The future policy
f the line is to hold a position of
omplete independence, maintaining
relations with all the great
ines, but subservient to none. The
vowed purpose is to provide abun-
ant facilities for the transaction of
IL the business that can be obtained,
nd to do that business to the direct
roft of the public and the owners Of
be line, instead of for the enrichment
f outside organizations or inside
.rings.n With the information we
.oW have, a portion Of which we
ave given our readers, there is no
Dom for doubling that the new de-
Of the Atlantic and Great
Western Railroad is not only a good
hing for the owners in terminating 9
)ng and exhausting litigation and
up a seemingly hopeless
audible, bnt also a benefit to the pub
c at large, and a particularly auspi-
ious event for this city. Cleveland
nd its business men should cooperate
1rdially with the new management
increasing the facilities of the line
nd turning those increased facilities
} account BY increased business.
---Oe-
The Crops Onthe Continent.
The following interesting informs-
on in regard TO the state Of the crops
n the continent has been received by
be New York HdndeE's ZeitHng,
- No.. mbo-,oS Gorr & IN in