The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1875-05-27
G sht Qonmg 1euoeraG Qanpn @tp Gnmsdg Jsg 27 1885,
THE VALLEY RAILROAD,


Valley Railway Company, from Europe
naturally leads to wonder as to his sue
cess in the main object of his visit there,
the placing of sufficient of the first mort
gage bonds of his company to put the
iron upon the track, procure rolling
stock, and begin transportation in real
earnest. The result proved that the Wis
it made at an inopportune juncture, the
leading bankers and brokers of London,
to whom Mr.. King carried letters of in
PRODUCTION, uniting inradvising him that
there would have Been no question of
his success had the'maNerbeen brought
forward six, or evewshree months ear
lier. AS it was, however, it was just on
the eve of successful negotiation and the
bargain for placing the bonds at re-
markably good price for new road was
actually to be perfected on certain day
an appintment to complete the contract
having been made for two. o'clock in the
afternoon, and all would have been
safely concluded at that time, had not
the London Times ofthat very morning
devoted two-column leader to an at.
tack on American securities, citing the
Potter Railroad Law of Wisconsin as a
a fresh instance of the dishonest purpose
of the people here to make the payment
of railroad mortgages impractcable and
to make their reputation the regular
thing, and declaring that the English
capitalist might as well throw his money
into the sea as to invest in American en-
terprises. This was a Settler" for the
time being, coming as it did in the midst
of the Parliamentary investigation of the
whole matter and manner of foreign
loans by foolish investments in which
as it must be confessed, millions upon
millions of British capital have been
sunk. and being itself but one of the
editorial articles in which the entire
London press we're at the time discussing
the revelations made by the investiga-
ton in question. 1t would be no wonder
if, under such circumstances, the credit
of the best and worthiest enterprise sho'd
suffer, and Mr. King, acting upon the
ADVICE of sagacious counsellors, deter
mined to let the matter rest until the
capitalists could get over their scare and
be prepared to look at the propositions
in behalf of the company in their true
light, viewing them in their true light
viewing them upon the solid ground of
the real merits of the line, its actual pro-
liabilities as to present business and its
capabilities for future growth. 1t is a
significant and encouraging point, more
over, that rhe matter was left by him in
the hands of a firm that has never before
interested itself in American securities,
but which is so well assured of the soil
dity of and excellence of the present en-
terprise as to be quite confident of rising
all the funds needed, just as soon as a
fair hearing can be had and in ample
time for completing the road before the
present season ends, as has been the
general expectation.
Thus, it will be seen, we are not
yet as those without hope, so far as "our
own Railroad is concerned, nor have
we any right to be, even if Mr., King had
not left matters in London in the most
favorable shape to take early advantage
of any return of confidence in American
securities among the money lenders of
that city. The fact is that the Valley
Railroad has so many points of positive
strength as to make its II innate success
beyond any question, and none will be
quicker or more ready to recognize this
than railroad men and the people who
have money to invest in railroad enter
prises. There is not railroad projected
or under construction in Ohio to-day
that has one halfas much to recommend
it as the Valley road, connecting as it
will, by the directest line possible, the
principal city upon our Southern border,
with the most hourishing manufacturing
city in the northern part of the State, be-
sides having upon its route Akron and
Canton, two of the largest and most
solidly prosperous manufacturing towns
in Ohio; all this, with sure promise of
an abundant and unfailing supply of
freight of every class and of most ex-
cellent local passenger traffic, being in
addition to the immense revenues that
must inevitably follow upon the develop
ment Of the building step stone deposits
which are found between here and Cleve-
land and at other points, of the great
coal fields which extend on either side of
the route from here to Wheeling and of
the rich black band-iron mines, salt and
petroleum deposits, which are found all
along the Southern half of the line to say
nothing of the extensive pottery interests
of our own country, or of the supposing
agricultural wealth of the entire region
traversed. There can be no question, we
repeat, OF the certain success of the line
with such opportunities for business, and
we do not wonder, therefore, that, be-
sides leaving the business in London in
the most excellent shape possible, Mr..
King has some most favorable PROPOSE
tions from parties in this country, which
will insure the prompt completion of the
road, if they are not accepted, but of
which it will be more convenient to
speak in detail ereafer.-AkyOA Bea-
cen.