The McArthur enquirer. (M'arthur, Vinton County, Ohio) 1873-1884, 1873-05-21

cite county.
AS an investment, lido not believe
there is an enterprise in the State
of Ohio, to-day, that presents as
good a prospect for a large profit, as
there is in the stock of our railroad,
True, it progresses slowly, but
every week is adding something to
the work, and if all interested
parties would do their duty, 1--WE
ask no more we would soon have
a railroad; but if you hire a man
to publish your paper, then tell him
you will not furnish him with paper
and ink and type, as you agreed to,
you cannot expect him to print
your paper, neither should you ex-
pect a railroad to be built by your
directors when you refuse them the
means to build the road that you
have contracted to furnish them
simply because all the stock-hold-
ers cannot be directors. Yet the
most Of the work thus far done ON
our road, has been done without
any money in the treasury of the
company; but those doing the work
have had confidence enough in the
company to continue the work I'm
der the assurance that their pay
was sure, though they might have
to wait for IL longer than they
should. And you will notice, by
the report for January, that 1 send
you herewith, that the company was
between twelve and fourteen thOus-
and dollars in debt, on January LIST,
1873. The annual election was
held on the 18th of January, and
before the disconnected stock hold
ers could vote themselves into Of
flee, they were required to pay up
their delinquencies, and some Of
them done so, to the amount of ff-
teen to eighteen thousand dollars,
mot being half as much az we eK=
pected, from their boasts, would be
paid,) which enabled the directors
to pay off the indebtedness of the
company; and, on the first Of April,
the company was entirely out OF
debt, unless there may have been
some small amounts back on pay
rolls, unaccounted for. 1 don't
know of any. Since January, pay
ments have been again almost en-
tlrely with held.
Yet our people have faith, and
are working steady ahead-many
of them working to pay up their
subscriptions; and if we had the
money that is due, and now paya-
BILE, on hand, or if it was due from
men that we could rely upon pay
ing it, when needed, we could have
the road ready for the crOss-ties ia
Macarthur, except one tunnel and
some heavy trestle work, and posi-
bly, the whole Of 1t, by the first OF
October, and no doubt much Of the
iron on it by that time. But under
the present state Of things, we must
do as we can, and not 40 We would,
if we had the tools to work with,
hold that to get the greatest
benefit from this road, our citizens
should own and control it, to de-
velepe the resources of the route;
and to induce capital to come among
us, we need cheap transportation
OF the ability Of our people tc
own and control the RAILROAD
with but little inconvenience
to them, l have not a doubt,
neither have | a doubt, but it will
prove the best investment they ever
made if the affairs of the company
are properly conducted, and I have
no doubt but what they will be
With the road graded, there will be
no trouble whatever to command
all the money necessary for the
iron and rolling stock on favorable
terms. The merit of the route it
self would insure that result. / an
told that a learned member Of the
legislature, from our county, stated
here a few days since, that If oul
people would grade our road, O
company could be formed that
would finish and operate 1t. How
knowing he must be! Get this
road graded and ready for the su.
perstructure, and you have a basis
that upon flrst-mortgage bends will
bring all the money you need al
fair rates; and you will not need
much aid to find customers abroad
or customers on the line for the
bonds. If we have to go abroad
for aid, my theory always has been
to do all you can at home first, put
every dollar into work on the road
that you can; show all that have
interest enough in the enterprise