The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1874-03-30
Second Annual Meeting of the Stock.
holders of the Pittsburgh, Wheel
LIE and kenIuCkY RhilrnAh.

holders Of the Pittsburgh, Wheel.
ing aud Kentucky Railroad.
The stockholders OF this company met
in the Board OF Commissioners room at
the Court House in this city on Saturday
forenoon last. Seven thousand one hun.
dred and thirty.tive shares Of stock were
represented, consisting Of the 4S0O
shares owned by Ohio county, the 1900
shares owned by Brooke county, and IS
shares of private stock. JOHN 0EsTER-
LING, Esq, Of the Board OF Commission.
ers, cast the vote Of Ohio county, and DR..
G, W. CALDWELL, Of Wellsburg, that OF
Brooke county. The election resulted in
the unanimous choice OF the following
named gentlemen as Directors for the en-.
suing year, viz: Hon. G. D. HUBBARD,
Capt JOHN MCCLURE, Col. JAMES Nc
CLUNEY, W. X. PENDLEToN, THos.
HUGHEs and LEWIS ArPLEaATE. A res.
OluIion was passed empowering the new
Board to negotiate for the completion oil
the road on such terms as, in their dis.
erection, they should deem most conducive
to the interests Of the company. At q
subsequent meeting OF the Board the
Hon. g. d HUBBARD was elected Presi-
dent of the company. We did not hear
oil any action taken by the Board look.
ing to a completion Of the road, but
presume it is understood that the sugges-
tons in regard to mortgage bonds, sub
mittcd and considered at tho Steuben-
vile conference with Colonel SCoTT and
other officials Of the Panhandle road,
will be the basis Of all negotiations aud
efforts in that direction Tor the present.
We have already explained pretty fully
what those suggestions were, but will add
the following paragraph from the Wells
burg NeroS OF Friday on the same subject :
"ThG talk at the meeting at SteubeI-
vile between a majority OF the Board OF
Directors Of the Railroad and Dir. Tbos.
Scott, terminated in a proposition some
thing like the following:
1.-THE present Indebtedness Of the road
about $4,000, 10 be paid oil by Brooke
and OHIO counties. First mortgage
bonds 10 the amount Of $264000 10 be
issued by the road, $24, 900 10 be expend.
cd Tor the completion Of the road bed, esti.
mated at 81 600 per mile, anu the remain.
der Of the bonds, $4,000, to be in favor
Of the Pennsylvania Central, and Mr.,
Scott proposes 10 negotiate them for iron,
etc, TO complete and put the road in
operation"
The information OF the Meas goes a
little more into detail than that we pub
lished q few days ago. Whether the
editor speakes by thel card or not will
appear hereafter, 1t is to be regret
ted, il such Is the case, that another up.
peal is to be made TO Brooke and Ohio
counties for even SO small an amount as
$4,000 Still, il the payment Of the
present Indebtedness oil the road is a
condition precedent to the negotiation Of
It's bonds, we doubt not the money will be
raised 10 the extent named.
II will be observed that, according 10
the NftrS, the mortgages are to be made
payable to the Pennsylvania Central"
meaning, we presume, the "Pennsylvauis
Railroad" This VT doubt. The "Pennsyl.
vauia Road" has not been in this business
from the start, and We do not sec wbv !,
is likely to come in now. Even the penn.
sylvsnia Co" another corporation, is NOT
10 II, but simply leased road of that com
pany-vlz-the Pittsburgh, Cincinnati &
St. Louis Railroad, We suspect that the
Nt1os has got matters wrong end foremost
as regards Col SCOrr's proposition, and
that It is TO the Pittsburgh, Cincinnati s.
St. Louis Company that the mortgages
are to be made payable. We should Ger.
tainly be glad to see the Pennsylvania
Railroad taking our bonds, Tor with her
endorsement we would expect to sec
them bring good price-s good deal
better price than with the endorsement Of
the Pittsburgh, Cincinnati & St. Louis,
Company, whose first mortgage 2 per
cent bonds are now selling in New York
at II cents on the dollar only.
The NHcS expresses some misgivlue
about the existing deed OF trust on the
road being q hinderance to negotiations.