Holmes County Republican. [volume] (Millersburg, Holmes Co., O. [Ohio]) 1870-1895, 1872-10-03

company upon such person or company
giving satisfactory security to the Trus-
tees for the fulfillment of the contract
of lease or sale; which lease or sale
must be ratified by amajority Of the
electors of the township at vote called
for that purpose or be null and void.
1t will be seen that under the law, the
township will own the road so built by
it, until it is either leased or sold. As
the road will only be township road
from one line of the same to the other,
it will not, therefore, be convenient for
each township to operate its own road.
Each of these short lines is intended to
form whole line of said road.
In the construction of these roads it
is intended to make acomplete line from
Lake Erie, at Black River, to or near
the town OF COshocton, a distance of
80 miles, passing through the counties
of Lorain, Medina, Wayne, Holmes,
and Coshooton, and at the south end
connecting with railroads reaching
through the great coal fields of South
ern Ohio.
A company has been organized for
that purpose, called the Lake Erie, ,WOos-
ter & Muskingum Valley Railway Com
pany. 1t has made complete survey
of the whole route, and has obtained a
line on which to build the road and up
ON which the highest grade, either way,
does not exceed fifteen feet to the mile.
The road will enter the coal fields of
Holmes county about twelve miles south
of Wooster and about sixty miles from
the Lake, and pass through rich coal
mines rs fan. as it goes.
With such easy grades, reaching from
one of the best harbors on the Lake,
with cheap and convenient facilities to
handle coal, lumber, and produce, to
immense coal fields within short dis
tance, it will make one of the best pay
ing railroads in the State. 1t has been
found that coal roads realize the largest
earnings of any other roads; and, in
fact, about three-fourths of the earnings
of all the railroads are derived from
freights.
1t is proposed by the railroad COM
pany above named to purchase from the
Trustees of each township along the
line between the points named, so much
of any railroad as it may build under
the law. 1t is also proposed by said
company to assume the payment ofsuch
bonds as may be issued by townships,
OF villages, and used in such construc-
tion, at their maturity; and. also after
the completion of the road to provide
for the payment of the interest of the
bonds as the same may become due.
This proposed as the consideration for
the purchase of said parts of the rail-
road so made. The company will then
become the owner of the interest of the
townships therein, and will proceed to
complete the whole line of the road.
1t will be understood that the amount
of bonds issued by.the different town.
ships will not build the whole road ard
completed it for business. a very large
amount of money must still be furnish
ed by the company.
Under this arrangement, in the sale
of the bonds so made by the Trustees OF
the township, the taxpayers of the
township will only be required to pay
taxes sufficient to pay the interest on
the bonds while the road is being built,
at the farthest.
1t must also be born in mind that the
railroad when completed, and indeed
while it is being built with all its run
ming machinery and fixtures will bt
valued and placed upon the duplicate
for taxation as other property, and thu:
each township along the line will get
the benefit of the taxes it will pay ant
so far relieve taxation upon the Other
property in the township.
1t is proposed to issue bonds in Hardy
township for the sum of fifty Thousand
dollars, being little less than five PEE
cent. of the valuation of the property
of the township, and Prairie township
fifteen thousand dollars, being a littl,
less than three per cent. OF the valua
ton of the property therein.
To pay the interest oil the bonds il
Hardy township per year, will requir,
a levy of taxes of four dollars OH eacl
thousand dollars Of the valuation OF
the duplicate, and in Prairie TOWNSHIP
,, levy of the sum of two dollars an,
fifty cents ON each thousand dollars val
. uatiOn.
Thus, by paying this small sum b,
! way Of taxes for two or three years, thi
valuable improvement will be secured
, 1t should also he remembered that il
: all the townships along the line, and in
deed for distance away from the line
' this railroad will greatly enhance til
value of the lands, rs well as produc
raised thereon.
: 1t will also furnish cheap fnel an
/. cheap lumber and stone, articles S
n much needed along the line. Connect
}. ing rs this road will with four east an
n west lines, 1t will afford cheap trans
!; portation for all kinds of products, /,
well as convenient travelling connet
n tions, either east or west.
p INCORPORATORs OF THE i. f., W. & n
S V. RAILWAY COMPANY.
'. WOOSTER, Sept. l6, 1872.
Choice cigars at Vogel's. 5w3