The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1872-05-03
From the Norwalk Reflector.
Wheeling and Lake Erie Railway

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wheeling and Lake Erie Railway.
The President OF this road, Hon. Joel
Wood, and its principal contractor, H.
B. Wilson, ESQ of New York, accom-
panied by Messrs. Lewis Baker and r.
Ii. Cochran, OF Wheeling, passed
through Norwalk last week, and met a
considerable number OF our citizens at
the st. Charles Hotel in the evening on
Thursday.
The meeting was addressed by them
at length, and very interesting and en-
couraging statements were made as to
the condition and prospects of the enter
prise.
Mr.. Wilson said that he had experts
euce of twenty-five years in the bust
ness of building and constructing the
financial interests of railway companies.
He had been the managing agent OF
the Detroit and Milwaukee, and the
Great Western railway through Canada,
and bad raised over ten millions OF
money for them, and had been con-
nected with the management and build
ing OF other important lines, and as the
result of his experiece in the business
and his observations on the Wheeling
and Lake Erie line, he felt confident Of
the success of this enterprise. He had
contracted with the company to build
the road and to fully equip it for $685.,
900 per mile, of which $4,000 are to
be furnished by the local subscriptions,
$4,000 by subscriptions of the contrac-
tors and $4,000 by sale Of first mort
gage bonds. Parties stand ready to
take the bonds aud furnish the money
as soon as the quota Of local stock Is
subscribed. His arrangements are such
that within thirty days after the local
stock is furnished, he will begin
the work and will complete the first
twenty-five miles OF it, beginning
at Sandusky, in seven months, provided
il is not delayed by the local subscri p
tons until winter. He will undertake
to put the whole road in operation in
eighteen months, if the means are
ready. The money at his end OF the
financial line is now ready. The only
DELAY is for the local subscriptions. The
road will have an ample equipment,
costing over four thousand dollars a
mile, and the road ITSELF without the
equipment, will cost s. 900 per mile.
In looking over the route, he could not
but express his surprise that a road
possessing so many advantages had not
been opened before. He mentioned
nine important lines of railway which
it will cross between Wheeling and
Toledo, and its terminal connections
will make it a leading main line. The
coal region through which it runs is for
distance Of over eighty.tive miles one
continuous bed Of coal. No other road
in the United States passes through
such continuous extent of coal region
He expressed his opinion that in three
wears after the road is built, its stock
will be worth at least fifty per cent pre-
MUM in the market.
The road runs through counties Of
double the taxable value Of those
through which the Cleveland and Pitts
burgh railroad passes, and the assessed
annual value Of property in those coun-
ties is over $l70,000,000. 1t shortens
the distance by railroad between Sam
dusky and Wheeling about sixty miles.
Important reductions of distance be.
yond Wheeling are in progress of A.
miles between Wheeling and Cumber-
land, and 50 miles between the latter
bv Point of Rocks to Washington,
making the whole reduction in distance
by this route over the present lines OF
travel, between Sandusky and Wash
ington City, about AZ miles.
On the first Of June the people OF
Wheeling are to vote on propositions
to subscribe 100000 to the Wheeling
and Lake Erie railroad, and 100000
TO build the iron railroad bridge across
the Ohio at Wheeling, which will take
this road directly into that city. 1t is
estimated that this bridge will cost
81, 100000, Of which 100000 will be
subscribed by the city, S400,OOO by the
Wheeling and Lake Erie Railroad
Company, and the balance will be made
up by other subscriptions or the sale OF
mortgage bonds. 1t is believed that
the Wheeling bridge stock will be
valuable, as other railroad lines will
pay literally Tor the use ofthe bridge.
Wheeling has voted s22j,OOO to the
Steubenvlle road, which will prove an
important adjunct to this Messrs
Baker and Cochran expressed their
belief that Wheeling will vote the two
subscriptions, to the bridge and this
road as both enterprises are regarded
with high confidence by the business
men AMI citizens generally, and their
great importance to the prosperity OF
the city is manifest to all. NJ. Wilson
suggested that in his opinion this road
ought to maintain its character as an
independent line, and not be swallowed
up in any of the monopolies. On the
east, he regarded the Baltimore and
Ohio as its most natural ally, but it
connects directly with the Pennsylvania
Central and other leading lines.