The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1875-12-02

The President and directors expressed
themselves as very sanguine of success
in. completing the road to Akron early
next spring. They urge upon our citi-
zens the importance of the road, and es-
pecially that it be put through as early as
possible. In this connection the follow
ing circular issued recently by President
King win be of general interest
T6the stockholders of the Valley RaiIway
Company .'
Since the issuing of a circular from this
office last May, work on the road grading
and masonry has been done at and
south of Canton, putting the line in for
ward state from Cleveland to Mineral
Point, distance of about seventy miles,
The efforts of the directors have been
mainly directed, however, to obtaining
from the city of Cleveland contract for
the use of the abandoned portion of the
Ohio Canal within its limits. This OBJ
iect has finally been attained, and secures
tothe Valley Railway terminal facilities
equalto those of any railroad in Cleve-
land, and very superior advantages in
handling coal and iron ore, besides ad-
ding largely to the value of the assets of
the Company. Having obtained this val
luable right Of way in Cleveland it is now
highly important to the success of the
enterprise that the road be completed
without delay to Akron or Canton, which
will give to the road large shipments Of
freight and passengers, and will insure
very profitable returns to the Company,
and fix a ready market value to the stock
and to the bonds of the Company, at
prices largely in excess of those at which
he,directors now propose to offer them
in limited amount TO the stockholders.
The Board of Directors have recently
had offers ofany amount of money suffi-
cient to complete and equip about eighty
miles of road. Thus far these PROPOSE
tions have not been accepted, believing
the acceptance would eventually result
in a sacrifice of the interests of the stock
holders. 1t has been the aim of the
Board from the inception of this enter
prise to avoid all "entangling alliances"
and to make the Valley Railway home
institution, intirely independent of every
other railroad management, thereby Sc
curing the greatest benefit to stockhold-
ers and shippers alike. 1t will be very
difficult to attain this desirable end and
complete the road at an early day with
out further financial aid from our stock
holders, to whom will inure the great
benefits and who are well aware of the
real value of our securities, and to whom
the early completion of the road is para
mount Importance. 's
In view ofthese facts, and upon the ad-
vice ofsagacious friends of the project in
Cleveland. the directors have resolved
again to offer to the stockholders limit.
edlnumber of the first mortgage gold
bonds Of the Company, sufficient to en-
able them to complete and equip the
road TO Akron or Canton, at the very
low price of seventy-6ve cents on the
dollar. The bonds are already prepared,
and are in denominations of $500 and
$1,000, payable in gold in the city Of New
York, November lst, 1904, bearing inter-
est at per cent. per anlum, payable
senai.annually in gold at the same place.
Purchases Of bonds must therefore be
made in above denominations. Sub
Scription for the bonds on these terms
will be received at once, payable 20 per
cent, on the first days of February,
March, April, May and June, A, D. 1915,
respectively
BY offering the bonds to our stock
holders at this very low price the direct
Ors are assured that the permanent inter-
Osts Of the Company are thereby sub
serve, in the fact already stated, that the
completion Of portion Of the road, in