The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1872-05-31

OQlO IlvCL ~ "
Lake Erie, and the latter is Q company
chartered under the laws OF our STATE
to build . bridge by which the railroad
in question and such other railroads as
zee ct to use it may be brought into
this city. on the eastern side OF the river
asd thence run into suitable depot
srounds convenient to the business
parts of our city.
These two enterprises form perfect
line of railway without break irom
Toledo at the western end of Lake Er'e'
into our city, aad when they are COM
Melted we will be on the most direct
lin. between the great northwest and
the seaboard. When that day arrives
our hotels will not be languishing and
closing up for want of the travel which
now passes within few miles OF our
doors but will be filled with passengers
landed right in our midst and our man
ufsctories and merchants will feel the
benefits of their presence. -..r..
This line Of railway is straight and
easy to construct and is located through
the most populous and wealthy sections
OF Ohio. .~,----. -..
The construction Of this line would
greatly encourage the growth OF the
iron business here as it would not only
b. q competitor for and thereby cheaper
the transportation Of the iron ores OF
the Lake Superior region, but it would
also bring US within reach Of the ores
of the State OF Michigan, and in addi'
ton give us access to the immense beds
Of black band and other ores on the
Tuscarswas and other parts OF the
line. -..,.,
1t lie not necessary, however, to dis.
cuss the advantages which would flow
70 our city from the construction OF this
railway. a. we believe they are now
conceded by all parties. Our people
are willing to appropriate ak or seven
hundred thousand dollars, or even a
larger sum, if this railway can thereby
be secured. The fear seems TO be that
the money will be spent and no road be
built, OF that the terminus will be
changed TO some other point. And some
OF our citizens doubt the possibility o.
providing against these difficulties.
This apprehension is natural enough
after the experience we have had, but
it should not lead our people into a
blind ulreasoning rejection OF vital
improvement without thorough and eI.
haustive examination. Our City Coun'
cils are not made up Of either dishonest
or weak men, nor of men unmindful OF
the interests Of the city. They are per
fectly capable Of 80 guarding any sub
scription voted by our citizens as to in.
sure that our money shall be spent right
here and in our immediate vicinity, and
that it shall be paid only after satis-
factory assurance Of ability to complete
the line and as the work progresses.
There is no difficulty at all in this
and the members OF the Councils, with
but five or six exceptions, have already
signed written pledge exactly cover.
ing these points.
The construction contract made with
Mr.. WILSON and his associates is q
great bugbear with some persons. 1t
10 feared that this construction company
(who are said to be set of New York
sharpers) will displace the present board
OF directors of the railroad company,
put in their own men and alter the con-
tract to suit their own purposes. Now,
we have often and critically examined
this contract and nothing OF the kind
10 possible under it. The contractors
can get possession Of stock Of the road
only IS they earn it. The idea seems
TO prevail that they are to receive full
contract price for every mile Of the road
- fast as it is finished Nothing is
further from the fact. They are to get
paid on the engineers monthly esti.
mates as the work progresses, only one,
half in cash and the balance in
stock and bonds. II the estimate
OF work is not even 5000 per mile,
they will get only what it actually
10. A settlement will be made
when the road is finished and equipped
until which time the contractors can
by no possibility, come into possession
of even half the stock. During all this
time, and from the first, the subscrib
ere to the Company will be able TO vote
their stock. aud necessarily must be il
the majority. and consequently able &c
control the organization. Should the
contractors fail or abandon the work
the Company cannot suffer The con-
tractors will have received, in cash
oaly the one-hslf Of the cost Of thu
work done. No loss can possibly b
sustained, and the work remaining may
be re-let to other parties, or carried or
BY The Company.
There can be no possible liability or
the company in such, an event. The
consideration of this contingency wa,
ons NJ thu reasona which cans.d III.