The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1874-02-03


The Wheeling g. Lake Erie Railroad.
The annual reports Of the President and
Chief Engineer Of thisroad have Just been
published in pamphlet form. We do not
know that there is much in them that has
not in one shape and another, ut one time
and another, been brought to the atten-
ton OF our readers. Still, the subject
matters presented in them cannot fail to
interest many readers on both sides of the
river seeing that they involve considera-
tions of so much local moment to us all.
10 regard to the contract with MIR
suANLY, the Housitonic tunnel contrac-
Tor, whose prestige as man of skill and
energy is widely known, the President Of
the Wheeling s Lake Eric road has this
to say:
After alluding to the cancellation Of the
original contract with WILSON for the
building Of the road, he goes on to say
that on the same day-the Goth OF March
last-"the enterprise was presented to the
Hon. WALTER sHANLY, of North Adams,
Mass, gentleman OF large experience
and favorably known amongst capitalists
and railroad men in this country and
Europe"
"Aiter an examination OF the situation
and prospects of the road Mr.. Shanly, on
the 3lst day Of March last, made propo-
sitions for tho complete construction and
equipment Of the road from Martins
Ferry to Sandusky and Toledo, based
upon $1,000 per mile Of local aid-sub.
sCribed and municipal-conditioned upon
the line being satisfactory to him alter
personal inspection.
During the month OF May Mr.. Shanly
carefully examined the line from Martins
Ferry to sandusky and declared himself
satisfied Herewith.
A lew days prior 10 this the Supreme
Court Of Ohio declared the unconstilution.
alily Of the Boesel law, so called. Much
time and effort had been exdended in try.
ing 10 utilize tho aid voted under this law
and to render 1t available as a basis for a
contract and for construction purposes.
Under 1t $A60000 had been voted by mu.
inequalities west OF Lodi and the town.
snip ol Bethlehem In Starke county, and
The village Of Martins Ferry in Belmont
county.
Here again was a serious difficulty pre-.
RE ~
upon the proposition Of MIR. Shanly, but
with that liberality and enterprise 50 con.
sptcuous in his character, and his well
merited faith In the advantages Of our line,
he on the 1st day OF August last so mod.
flied his proposition as TO make 5000
per mile the minimum basis Of local aid,
and provide sliding scale in the price Of
construction that will secure TO the Com.
pany the full benefit OF all local subsctip,
tions secured IN excess OF that amount.
It was also provided that the entire
local subscriptions should be made availa'
bic for grading, in ten monthly install.
ments, the company to provide the right
OF way without cost 10 the contractor, and
work 10 begin at two or more points east
ol Lodi on the subscriptions already OBJ
tained on that part oil the line.
These propositions, very full in their
terms and accompanied with detail speci-
1canons as 10 construction, equipment,
Gepots, shops, &C., were accepted by the
Board on the 9th day Of August last, and
thus became the basis Of a contract be-
tween Mr.. Shanly and this company. and
under It work was begun at Navarro. In
Stark county, September 9Th, and subse-
quently near East Greenville, same
county. 'S
Under the contract with Mr., shanlv
and the provisions Of law passed May
9th, 1878, II became necessary 10 secnrs
authority to increase the capital stock a
me Company to $S,70O0O6, though tbe
issue issue IS not to exceed $6,2O00O0. 10 Sc,
cure this increase IN a legal manner r re
qaired a tedious and Complicated nro-
s.s Sess, !. put me same, together with author,
ny 70 issue the requisite amount Of firsl
mortgage bonds, was sanctioned f !, hv IiS' N.
required vote OF stockholders Al a y meat ss
ing held OF the principal office ii tSs
Company on the SOth day Of ssntsmhsr =, ee
called and held in compliance with n,
pfoYisiOna nf said laU, WIN Ln'