The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1875-02-04
VALLEY R. r.
Cars 10 Run by July St-,-EyDGnSGS
and Receipts,
PRESIDENT KINGS REPORT,

the Valley Railway are, in every respect,
highly satisfactory to all who are inter-
ested in this important enterprise. Not
withstandtng the financial crisis which in
1873 paralyzed so many projects of real
merit, and collapsed bubbles of specula-
tions innumerable, the work on the Val
ley Railway has been pushed steadily for
ward to completion. AS will be seen by
the report of the Chief Engineer, that
part of the line between Cleveland and
Canton, a distance of fifty-six miles, is
substantially ready for the rails; few
weeks of vigorous work will complete it,
and with it the most expensive structures
ofbringing, masonry and viaduCts upon
the entire line.
SOUTH OF AKRON.
Contracts for the heavy work in grad
ing and masonry, between Canton and
Mineral Point, have recently been exc
cuted at prices satisfactory to the Board,
and within the preliminary estimates of
the Engineer. To meet this expenditure
the local subscriptions to the stock ofthe
company are abundantly sufficient. The
right of way was all secured before these
contracts were let, the greater portion of
it having been donated, and the remain
der at reasonable cost. The line from
Mineral Point to Wheeling is substan-
TALLY located; and the branch from Min
eral Point connecting with the Marietta,
Pittsburgh & Cleveland Railroad at Ca
nal Dover, will be surveyed as soon as
circumstances will permit. A reconnois-
sance has already been made which
shows that the admirable character of
curvature and grade can be maintained
to Canal Dover.
STATE OF FINANCES.
The depressing influence of the panic
affected to a considerable extent the col
lection of subscriptions to the capital
stock, and somewhat embarrassed opera
tions; but by judicious use ofthe credit
of the company, the work was carried
on as rapidly as was considered desirable
by the Board By a temporary loan re-
Gently negotiated, all of the floating in
debtedness will be paid, and collections
on stock subscriptions, now being rapidly
made, will amply provide payment for
this temporary loan as it becomes due, so
thatthe company may be considered out
Of debt, with large part ofits expensive
work already completed, and in condi-
ton toawait the revival of public conf
dence and the resumption of the active
industries of the nation. Recent inves-
| legations have developed wealth of
COAL AND IRON ORE
deposits, which will find an outlet to
market over the Valley Railway far ex-
Ceeding the most sanguine expectations
of any who have givena consideration of
the resources of this line of road. The
results of the geological explorations of
Prot. Read have been more than verified.
The Marietta, Pittsburgh & Cleveland
Railroad from Marietta to Canal Dover,
traverses a vast field of coal and iron ore
heretofore unknown to the industrial in
terests of Ohio. Bituminous coal of the
various kinds known to commerce are
found very accessible in veins VARYING
from six to nine feet in thickness. Mines
now opened show body of coal almost
exhaustless, possessing qualities for coax
ing nearly; if not quite equal to the cele-
brated Connellsville coal. Black band
and red hematite iron ores, of remarka-
BILE richness and almost limitless guam
titles have been discovered. A commit
tee ofthe Board of the Valley Railway
recently passed over this new road in
company with its protector. Gen. A. j.
Warner, and others, and the showing of
undeveloped wealth of resources along
its line is full proof of the sagacity
which prompted the enterprise and will
doubtless insure the reward due to the in
defatigable energyand zeal which brought
to successful issue this importantaid to
the active industries of the State. Cap
ital from England and Scotland has found
investment in these rich mineral lands,
and ere long the hum of busy manufacto-
ries will be heard along its line, tits de-
termined by the Board of the Valley
Railway that immediate steps shall be
taken to secure an early connection with
this important feeder, upon terms which
will be mutually advantageous, and thus
open to commercial relations with Cleve-
land territory heretofore seeking trade
elsewhere, which, with the minerals, will
bring TO the Valley Railway traffic up
on which no calculations were based at
the inception of the enterprise.
CONDITION OF THE COMPANY.
Capital stock authorized, $3,000,0O0 90
Capital stock subscribed, 9lS,450 90
Expenditures to December l, 1874.
For grading, masonry and
bridging, $603,010 n
For right of way, 1888 "a
For cross ties, ... 71,l55 Is