The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1874-04-27
PW RAILRoAD.

The Board ofDirectors OF the Pitts
bursh, Wheeling and Kentucky rail-
road were to have helda meeting in
this city last Saturday, but IS we are
informed, there was no quorum present
and consequently no official action was
had. There was some conversation
however concerning the condition and
prospects Of the road and some infor'
NAL discussion of plans for its compie-
ton. The P. &C. & st. L. company
which was relied upon to lay the track
and furnish cars and engines and to
operate the road after the
road-bed had been constructs
ed by Ohio and Brooke counties
con fesses It's inability to comply at pre-
sent with that agreement. Even II the
road.bed were now completed 10 ac'
cordance With the original plap, the
money would still be wanting to pay
for the ties and rails and rolling stock.
We must, in order to save our invest
meut in the grading and bridging that
has been done, provide the remainder
of the expense from our own MEANS or
else find some other party that Is will
iug to accept as a donation all that We
have already spent upon the line and
undertake it's completion: H..
In this dilemma the following plan
has been proposed. The cost OF finishing
the road-bed and laying the track is
estimated to be about $500, 600. Let the
railroad company issue 7 per cent bonds
tor this amount, the payment Of inter-
est and principal being guaranteed BY
Brooke and Ohio counties; Brooke
county endorsing say 100000 and
Ohio county 100000. These honda
thus secured would meet with ready
sale and upon them all the money that
is needed for the purpose could be OBJ
tanned. For the equipment OF the road
with cars and engines it is believed that
An arrangement might be made with
the P. C. g. St. L. railway company
by the payment to them OF the net
cost OF operating the road and about
or s per cent OF the cost OF the ma
terial employed. To meet the
liability thus incurred We must
look to the probable receipts of the
road, and for these the business done
by the Cleveland and Pittsburgh road
furnishes the nost natural basis of es-
timates. For several years past the
net profits Of the c., b P. road have
averaged nearly 5000 per mile. This
includes, of course, the business Of the
main line as well as Of the River Di.
vision, but it includes the 26 miles be-
tween Rochester and Pittsburgh where
the Cleveland road does no local 'bust
ness whatever ssd pave to another
company heavy rent for the use Of
the track. Nov ifths Eeceipts ofthe
P. W. & K. road over its
twepty-four miles Of track should
be only oue-fourth Of those on a cor.
responding number Of, niles Of the
Cleveland Isnd Pittsburgh road, they
would be sufficient to pay. the Interest
on the bonds which il is53 proposed "a
issue and to provide also.oa sinkine
fund which will ct ita maturity die
charge the principal. q 70 -, ~. - 10 ;,
Itseems TO NJ, after such slight ex-
animation ~ we have been able Il
give it, thst'the plan outlined above II
the most feasible that has yet beer
proposed for the solution Of the dim
Guilty. We will be glad 70 hear thu
views Of the bcsiress men Of the city
in relation to the matter. 1t is possi'
bic that there may be some legal diff
culties 10 the~ay. What they are, I
any, will be brought forward in tn
discussion.