The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1872-05-28
Some of the Operations of that
Contract,

W.& L, E, Railway Company, OF which
our readers may have heard something
has been carried round ;hc city and exhi.
blted privately to q number Of our citi.
zens, that being considered the better way
Of not giving information aboutit to tho
public. Some features Of the document
thus brought to light, seem to merit
notice.
The provision for leaving the river not
farther north than Deep Run is not alb
solute and positive, but the Company may
require that the divergence I've not beyond
that point. But as the present provisions
Of tho contract are Of course subject to
modification by consent OF parties, this
and other provisions may be hereafter
changed TO suit circumstances. The Rail-
way Company will be represented, in the
matter of such notifications by the board
OF directors elected by the stockholders.
Let ussee who the stockholders are. The
stock Is to consist Of $4,000 per mile;
$4,000 OF which is 10 be taken by indi.
vldusls and corporations on the line of
the road, and $4,000 by the contrac.
tors. We have been authoritative
~ informed that the contractors might not
insist on having the entire halftaken along
the line but might take more than half
themselves II the other half was nearly
taken. The stock owned by the contrac.
tors being in the hands Of single person
or firm, would oil be voted at any election
OF directors The individual stock being
scattered amongst hundreds and perhaps
thousands Of stockholders along the line
Of the road never could all be voted. lift
could, the contractors having half would
only have to procure proxy or buy a
single share OF stock to enable them to
elect their own board of directors. II
they took more than half the stock as sug.
gested, they need not even be at the
trouble Of obtaining single proxy or
share from others. The control OF the
directory would be entirely in their own
hands; and as they and their own direc.
tors would be the parties to all proposed
notifications OF contract, the game would
be altogether theirs.
The contractors ore to have 1856 900 per
mile. From the mouth Of Deep Run
through and over the hills TO Short Creek
is about three miles, for which they would
get $1O5,000. The cost of constructing
these three miles would certainly exceed
100000. The distance from the mouth
of Deep Run up the river and up the val.
ley of Short Greek to the point where il
would intersect the Deep Run route, is
about six miles. For the construction oil
the road on this route the contractors
would get $4,000. The cost of construc.
ton on this route would not exceed $685..
600 per mile, amounting in the aggregate
to $4,000, and lcavlng.tbe contractors a
difference in their favor OF 100000 by go.
ing up 10 the mouth of Short Creek.
Where the contractors can make a profit
of$6O,OO0 on one route and would suffer u
loss Of at least 100000 on the other, it is
not difficult to sec which route u board OF
directors in the interest Of the contractors
would be likely to adopt, The same prin.
ciple is applicable throughout tho whole
line. Wherever the work could be cheap
ened and the pay increased by lengthen.
ing the line to avoid tunnels or other
heavy and expensive work, it would, Of
course, be done, While this would cheap.
en- the work to the contractors it would
increase the length Of the road, increase
the aggregate cost, and consequently in
crease the contractors profits. So as to
grades; the heaviest that are at all admis.
sable would be adopted to reduce cost of
construction.
IA 1t regards the bridge: the city is to
subscribe, 100000, and it has been sug.
gested that these same contractors will
subscribe 100000. This would give
Them the control OF the Bridge Company
from the start. They intend to take the
contract themselves. Having control Of
the company, they can fix their own
price, and their own plan, and their own
place for locating the bridge. Tho con-
tract FOR the building Of the bridge, us
wellas that for the construction OF the
road, would, if ever completed at all, be
completed to their own acceptance. All
controversies that might arise during the
progress Of the work, as to plan Of con.
struction, as to materials, workmanship
and everything else would be determined
by board Of directors elected by the
contractors. The contractors are set of
New York brokers, about whom the poo.
pie Of Wheeling know nothing. Have
the officers Of the Wheeling s. Lake Erie
Company entered into this contract with
outseeing how completely they and their
enterprise will be at the mercy of the con
tractors; or ii they know what they are
doing, do they expect our city to walk
into their trap? In either case, this is
the feast we arc invited to sit down to,
where the contractors have both sides Of
the bargain and will have everything
their own way-their interests being nee.
essarily opposed to those of all other
stockholders.
If by miscalculation or misconduct, the
money should be expended leaving the