The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1874-07-08
fgoods brought up the river by steam

half this amount and this is suffi'
cient answ er 10 those who complain O.
the great expense OF the present pro-
iect.
A statement Of the.history and busl'
ness of the Cleveland and Pittsburgh
road was gu omitted. showing that not
withstandipg the increase OF stock to
nearly double it's original amount
handsome dividend was annually re-
reived By its stockholders. The city
| Of Wheeling some years age
sold for 40 cents on th'
dollar it's stock in that road, but were
it held to-day it would pay an annua
interest of about IA per cent on tht
sum originally invested. Short line
railroads are nearly always profitable
and 10 proof OF this the Charters VAL
ley and the Youngstown roads were
cited
He saw no improprietv in the coun
tvs owning and operating railroad
The city owns and conducts the gas
works aad the water works, and resps q
profit from each, and there 10 no good
reason why it may net protitabiy own
and work short line OF railroad.
In conclusion Mr.. Hubbard stated
that if the proposed subscription were
voted, he would devote his personal at
teption to seeing that the money ls
properly applied and. abandoning all
other business engagements labor to
make the road profitable investment
for the people OF Ohio county.
AT the conclusion OF Mr.. Hubbard
remarks an opportunity was offered fol-
the expression OF any adverse opinion
which anv OF the gentlemen present
might entertain, and for the
propounding OF any question which any
one present might feel disposed to ask
No one volunteering to discuss the
question, President Pendleton, o.
Brooke county, next addressed The
meeting.
He stated that the people OF Brooke
and Ohio counties had already expre!s
ed their opinion as to the desirablIity
of the road, and it WAS scarcely worth
while to discuss that matter farther
All had been disappointed at the TAIL
ure OF the money already provided to dc
what it was intended to accomplish, bu
this was no fault OF the Board. 1t Ii
impos-ible to build house withou
baving the expenses over-run the estl'
mate, aud this had been the case witt
the road. The extra cost has arIser
mainly from extra work that was no
estimated for. But still it is less thar
the S2S5, 900 which was bid by one o
the contractors for the completion o
the whole work and which some peo
ple had blamed the Board for not &C
ceptiug. The road is now just as i'm.
portant and juet as valuable at
when it was. first proposed anc
received the endorsement OF the
people. The reasons which lei TO it:
inception still exist, and are still a.
strong as they ever were. The Penn
sylvania Company WAS willing 80 long
as their ability TO DO so remained. t.
put into the enterprise larger amour
OF money than is now asked for from
the counties. Why2 Not to pleas,
Ohio or Brooke county, or the city o
Wheeling, bat to make money. The!
believed it a profitable investment
and agreed TO accept the preferred
stock Of the the road, jus
such as is now offered 10 Ohic
county in return for a smaller outls!
OF money than the Pennsylvania com.
originally agreed to invest. II the en-.
terprise was deemed by these shrewC
railroad men an advanta geous one ior
them, why is it not equally so for us
We regret that the lsteness Of tht
hour at which we write (the meeting
did not adjourn until after 10 o'clock
prevents the publication OF complet,
summary OF President Pendleton
address. 1t WAS very
D plausible argument in favor
OF the additional SUBSCRIPTION
which, he eRdeavored TO show, woult
be q profitable investment for tn,
county. He urged the people 10 holC
on TO their present stock in the roac
aud assured them that the only way Il
get back the money already invested
waa to finish and operate the road.
At the conclusion OF his remarks Mr.
Boring ststed that he was not full,
satisfied that the investment would pa
and, Wheeling having had such ba,
luck in railroad stocks heretofore, b
felt incliued TO oppose any further e1
peuditures OF this kind.
He was answered BY Mr.. Hubbard
who, in reference particularly to tn
Hempfeld road, stated that while u,
dividends had been received bv tn
stock holders sof that line, the indi
rect and Incidental advantages reape,
by the city had conpeusated for its cost
Mr.. Morgan Gregg then followed il
an enthusiastic and iuspiriting speecl
in favor OF the enterprise and We
loudly spplauded at the close.