The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1874-10-13
Chesapeake and Ohio RaiirOad-A
Curious and Interesting Situation.

| Curious and Interesting Situation.
From the yir ginia Real Estate and Farm
| Journal.
According to the terms of the contract
made between the commissioner" of
the State of Virginia and West Virginia
on the one part, and the Chesapeake and
Ohio Railroad Company on the other
part, which contract was ratified ard
confirmed by the Legislatures of both
States, the time within which that COM
panv undertook to complete the line
of railroad from Covington to the month
of the Big Sandy rtr,r expired with the
month of August last.
One OF the sections of that contract
provides that IF said company shall
fail to commence work or put the road
in operation within the time specified,
then the franchise hereby granted shall
rerert to tie said States, and the CONF
! missione1;s shall take possesejo" Of the said
road, after serving due notice in writing
to the president of said company that
said reYersiOn and repossession is claim
ed
The present Ohio terminus of the
Chesapeake and Ohio railroad is at
Huntington, eight miles from the mouth Of
the Big Sanity, where the charter of the
company required it should he. Some
curious Is well as practical questions
are suggested by this failure of the
Chesapeake and Ohio Railroad Company
to comply with the terms of their con-
tract. Have any steps been taken by
the commissioner" to recover poses
sion of the road for the States of Virgin
ia and West Virginia? Should these
States demand and obtain "the rcvcr-
sion and repossession" Of the property
and franchises now claimed and held
by that company, who would be respon
sible for the millions Of dollars OF
Chesapeake and Ohio railroad bonds
which have been sold. and which the
purchasers supposed to be secured by
lien on the railroad and its franchises?
The States of Virginia and West Virgin
ia having granted to the Chesapeake
and Ohio Railroad Company only Il
conditional title to certain properties
and franchises, could that company
make any conveyance which would
Internationally and absolutely bind such
properties and franchises for its debts!
Are not all the bonds of the Chesapeake
and Ohio Railroad Company without
any lamfpi security if the terms OF the
contract referred TO above have not
been complied with? Should there be
any attempt to sell out the railroad for
the benefit of the Chesapeake and Ohio
Railroad Company, would it not be the
duty of somebody to look after the inter-
ests of the original stockholders and of
the States, and to protect them from the
loss of their just rights?
1t has been frequently limited that the
embarrassment of the Chesapeake and
Ohio Company said to have been caus-
ed bv the panic Of last year, would re-
suit in sale Of the road to some other
company, either to the Baltimore and
Ohio railroad, or, perhaps, to the 'ealthy
and une,nbarrass>d managers Of the
(Tesapcake and Ohio Railroad Company.
Should such an attempt be made,
would it not be the duty of the Virginia
Legislature to protect the interests of
the State by asserting her legal rights,
taking possession Of the road in conjunc-
ton with West Virginia, and working
it for the benefit of its righHM omnerS.
Under all the circumstances, we think
il would be well for some examination
to be made into the details of the man
syement of the affairs of this company.
While such All examination is being
made, il would be well to inquire into
the reasons why Huntington was made
the Ohio terminus and not the mouth "t
Rio !Sandy ricrr? What was the prof;
realized by the purchasers Of the farm
on which Huntington was ioCa.ed. ara
who made that profit? How much ala
the damages paid by the railroad COM
many exceed the cost of the whole
estate? Why WAS it the cost fthe western
end of the road was SO enormously in
EXCESS of the estimates made by the
engineers?
There are many other questions we
might ask, and, indeed, intended asking,
but these must suffice for the present.
AT some future time, we propose to con-
tipue the subject. In the meantime, we
shall be glad to have our questions
answered, or toreceive any information
relating To the affairs of the Chesapeake
and OHIO Railroad Company. The peo-
ple of Virginia have indul ged the hope
tbs. CREST good would result to the State
from the completion Of this improve.
ment and it was the anticipation OF
this benefit which induced our Legs.
lature to grant to the Chesapeake aud
Ohio Railroad Company properties and
franchises Of such value on condition
of completing the work according to the
terms Of the contract. We have heard a
great deal during the last ten years about
the asacredaess Of contracts, when the
burden would fall upon the people or
State of Virginia, but it seems to be a
very different thing, in the eyes Of many
when the benfit would be ours. Now
the great capitalists who undertook 70
complete the Chesapeake and Ohio raii-
road to the mouth of the Big Sandy river
ON or before the 3lst of August, ls.4'
made ruinou.ly hard bargain with the
State of Virginia and West Virginia
and If they did not have the ability or
capacity u comply with its terms, theh
why should they not pay the forfeit!