The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1875-05-13

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sbsent, and the annual report OF the
Board Of Directors was approved and or
7a~o1 ,,rirtod and also thot of tha Chief
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A"l@i'l'el.
The following queNIlohs were Illeh SUD-
--uitted TO the stockholders to he voted
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A'o" 9'SVo" II " i',' ''i'S ''''o - Do,'''','
county, ONO, and almost opposite NheeI-
7ng West Virginia; to classify the Board
nj Directoys so that three directors should
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--'7 o'loSeh - serve ','iso lo"''' ''''00 ~
serve TWO years, ana three 10 serve one
wear; and at each election hereafter the
-yirartors IN ha elected to serve three
r, c,nan ~ l,oth of tho ohoro
years, IH i",o' VI '0'' VI Wv "'o''
questions G42O votes were cast DelEg the
.Dtre vote present.
BOARD or DIRECTORS
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DIRECTORS REPORT.
The Board of Directors of the Valley
Railway Company respectfully submit to
Ehe stockholders the following report for
.he wear ending March 81, 1875:
The wear which has lust passed having
been one of general financial depression,
ablch has been felt with especial severity
-5v ali new railroad enterprises. the board
are nar able to report any very great pro-
.lress IN the work Of constructing your
road. .gtill. they feel that they have much
10 congratulate YOU upnn, in the preser-
rafjOu of vour property intact with such
.progress as has hcen made, and with fa-
gsraale prospects of an early con u elton
-rffhe enterprise.
at the commencement of the wear it
was deemed necessary by the Board.
owing to the differences in dispute be-
tween the company and the contractors.
30 regard to the construction of some of
the provisions of the existing contracts
ior the grading ofthe line between Cleve-
and and Bowerstown. to cancel these
contracts. This action resulted in the
amicable settlement of these differences
n which settlementthe balance due from
iheir principal contractors to their sub
contractors was secured TO those TO whom
fhey were indebted for their labor and
material furnished for the work. While
the amount so secured to the creditors of
lhe sub-contractors was but fraction of
Lheir Indebtedness, it was the most that
rs Uas the power of the company to do in
lhe matter
Owing to the great difficulty in collect
ng the stock subscriptions fast enough
10 pay the Indebtedness fortbe work pre-
giousiy done, it was deemed inexpedient
re let the work on that portion ofth
line between Cleveland and Canton, the
greater part of which was already nearly
completed until means could be fully
assured for fully completing the work
and putting it in running order Accord
1ngly no more work has been done ON
inat portion of the line than was neces-
sary to keep the road bed from wasting
by action of the weather, with the ex
ception Of completing some masonry
work. Still the affairs of the COMPANY
nave not been at standstiIl, and consid-
nrabe has been accomplished towards
the furtherance of the work in other
quarters All the right of way between
Cleveland and Canton for which the ex-
nenditure of money was required has
been secured and paid for. This does
not include the city of Canton. where
large amount has vet to be secured which
is. however, in progress of settlement
The delivery ofthe cross.ties for that bart
0f the line has been completed The To-
cation Of the line south of Canton has
been made toa point of junction with the
surveys of the Wheeling and Lake Erie
Railway in Fairfield township. Tusca.
fawas county, 70 $40 miles from Cleye.
land. with the same system of EASY grades
and curva urewhich characterize The road
north of Canton, and passing through a
section rich in minerals. which will give
= valuable lreightage as soon as com.
aleted.
in addition. 100000 to the stock sub.
scription has been made on that norton
of the line fully prranteed. In becem-
Der the contracts for the heavier work on
that portion of the line were LEFT 70 re-.
sponsible parties at prices satisfactory TO
the Board and since the onening If
spring the work there is progressing ran.
IDLY.
i branch is projected from that nor
ton ofthe main line near Mineral Ppint
TO Canal Dover. about eight miles distant
70 connect with the Marietta. PITTSBURGH