The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1872-12-06
dltl1tteGttelIia Iiastree1.
The Railway and Bridge SubScrip.
tionss.The BridEe-.Guar.
antics. &c.


antics, &c.
We trust the documents bearing on the
proposed railroad and bridge subscrip
tlons, printed in our columns yesterday,
have received the attention Of city
readers. Without attempting careful
analysis Of them, we direct scrutiny to
one ortwo salient features. The Railroad
Committee report that the Keystone
Bridge Company offers to build the pro.
jected railroad bridge here for $e5O,0OO,
with $4,000 for approaches. The
statement Is that the directors Of the pro.
jected bridge "hnd that the bridge, a
single span iron bridge, can be built for
"$65o,OOO, and that the approaches, less
"the right ofway, viii cost $4,000. They
shave an offer from the Keystone Bridge
Company to contract for the building Of
"the bridge at the above price" This
statement needs explanation. A single
"spAn iron bridgs'cannot be built over the
Ohio. 1t will take several spans. We
are informed that this same Keystone
Company charged 100000 for simply
the channel span Of the Bellaire bridge.
Iron Is much higher now than then.
Does the Committee mean that the prop.
osition they have is to build simply the
channel span tor $05O,0OO, leaving the
shore spans, the piers, abutments and ap-
proaches still 10 be provided for2 III so,
what will all these cost additional? Or
does the proposition cover the whole
work except the approaches on shore, in
Guiding channel span, side spans and
masonry. It'll important to know exactly
what is proposed. 1t may involve a dit
ference Of half million Of dollars. Mr..
Linton, engineer of the Pan Handle rail-
way was engaged here sometime in sur.
vey for the bridge. Why do not
the Committee or directors give
the result Of his estimatesi He is
a competent engineer. We are informed
that he regarded the site almost lmpracti.
cable,and estimated that bridge could not
bebuilt on 1t for less than sum between
81 100000 and $1,4O0,OOO. The doubts
surrounding this matter are increased by
the casual remark in the report OF the
bridge directors that they confidently
"believe that with q stock basis OF $780,.
1000 the company can float more than
"enough Of its bonds to build the bridge"
Hit can be built for $650,00O and the ap.
proaches made for $4,000 more-or the
whole for $7CO,OOO-and $sOO,OOO is OBJ.
tained by subscriptions, what occasion
will there be to float bonds TO raise addi-
tional money, and for what purpose and
amount is such issue contemplated
In the report Of the President OF the ".
& L. E. Railway Co., the stock subscrip-
tions are stated at $1244,05O, but in this
we find included $500, 900 subscription by
Wheeling. We were not aware before
that Wheeling had made any such sub.
scription. The circumstance suggests the
inquiry, how much Of the remaining
1914 $50 IS in the same category. This
report shows that the price which the
Company has contracted to pay for build.
ing the road (supposing the distance as here
stated only IT'S miles) is $1,111,25O in ex-
cess ot the engineers estimate oil cost.
That strikes US as q pretty handsome
profit, and Is the first fruit Of that re-
markable expedient resorted to by this
company Of putting the road under con.
tract without survey and before there
was anything but mere skeleton OF a
company formed. Our $780, 900 will not
go very far towards paying even the pro-
fits on the job, and all the actual subscrip.
tons now reported by President WooD
fall nearly two hundred thousand dollars
short oft. Where the money is to come
from to pay tho actual cost Of the road
to the contractors does not yet appear.
The ordinance authorizing the subscrip.
tion to the W. & L. E. Co., providing that
the money shall be expended between
this city aud the Panhandle road and
that the road shall be built into the city
on this side Of the east channel, provides
this extraordinary guaranty" to enforce
the performance OF these conditions, viz:
that the W. s L, E. company shall
subscribe 100000 to the stock of the
Bridge company, and the clty's sub.
scription to the Railway Company is not
to be binding till the latter's subscription
to the Bridge Company "is made" (not
paid.) But just SO soon as the agents Of
the Railway Company have signed for
1900 shares on the stock book Of the
Bridge Company, the city Is bound for
her $S000OO subscription to the Railway
Company, whether dollar Of that com.
pany's subscription is ever paid or not.
But then we learn from Mr.. WooD's re.
port that the Railway Company does not
contemplate paying any money at all on
that subscription. A second mortgage
tor $4,000 mile Is to be laid on the road
Gt will have TO be moro Il the road Is but
175 miles long, and bonds are to beissued
on this mortgage, and the subscription Is
to be paid in these bonds. What these