The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1875-10-28

The lion. c. b. Hubbard, President Of
the Pittsburgh, Wheeling & Kentucky
Railroad, will address the citizens Of
|Wellsbutg in its interest this evening.
As Is well known, Mr.. Hubbard Is inter.
|esting himself actively, along with Capt.
John MCLure and others, in the reorgan.
lation and completion Of the road. He,
and those who arc cooperating with him,
|lre not only working for It's success but
are likewise putting their money in It as
tho surest means Of achieving success.
An active canvass OF the two counties for
subscriptions to the proposed reorguniza.
ton it on the programme. This canvass
is to be carried on both privately and
publicly. There arc already number
| Of large subscriptions, ranging from
$1,000 up oSjOOO, and II Is intended to
solicit every grade Of subscriptions, down
to $50, or even smaller amounts. Not
that the solicitors rest their appeal on the
charitable disposition Of the public, for
they believe, and give evidence Of their
faith by their acts, that on the proposed
basis Of reorganization each subscriber TO
the new stock viii receive a valuable con-
|iiderHtiOn for hismoncy. They rest their
appeals on grounds both Of public veal
|and individual benefit. They believe
that the road when completed will not
| only be benefit to the two counties but
to each man who takes stock in it. The
new stockholders will receive, for moth
| Ing, lthc Iroad "a 1t now stands, clear
| Of debt, or, in other words, they
will receive a railroad that has been
graded and bridgcd, and that for $4,000
lcTcn less according to Capt. McLure's
e'IimaIc) can be made ready for tie lies
and iron. The new capital stock will be
dHed'ny at 100000, and this capital will
represent llthathaS been expended by the
Two counties up to this time-say $780,
|ON, and, in addition, the expenditures
necessary to complete II. In other words,
the new capital will be used to repair The
road bed, put down the ties and iron,
build the switches and depotS, and make
Ihe road ready for the rolling stock,
When the road Ia thus finished its "a
miles will represent the small share cap.
ii'l Of only 100000, or about $3.50 per
| mile.
As We have explained In a former ar.
llcIc, there are two ways OF completing
The road, One is to raise the money, IA
explained above, by stock subscription to
'Ae whole amount. Another Is to raise
only $4,000 to $4,000 in the way oi
share capital, and then mortgage the road
lot The amount necessary to complete ii.
asa matter Of course, the more capital
stock taken the ccNsier II will be to nego.
llaIe loan for the balance required.
Capitalists will give more for bond
FpfcCning atoOd nearly finished by its
own capital than II II il to be mainly
constructed out Of loan. In case SIS.
VV oi capital ia raised, rs proposed, II Ia
not unlikely that a loan Of Sl25,OOO could
Oe effected at 90 cents on the dollar for a
per cent bond. These two amounts
would finish the road, ready for the cars
'ee Mr.. Becker's estimate Of October
'!'h) and leave small surplus for con.
Iingencies.
The CHARTERS Valley road Washing.
'on, "a, to Mansfield Junction., about 90
miles in length, has n capital Of 100000,
.. Si0,01O actually paid in, and debt Of
T'V,gso, which is over $4,000 per mile.
nna This capital and debt represent moth.
Jug out the road, the rolling stock being
@. owned sy the Pittsburgh, Cincinnati 1
." Loni, Company. In 1874 this little
.oaa did business enough to earn, over
.si, .aa above it' running expenses, $lS,l ,l8O,
which would b over . per cent profit on