The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1875-10-22
OCTOBER e. 1876

The EnbaFFaSSmenlS that have
Surrounded the wheeling and
Lake Erie Railroad.
From the Martins Ferry News
Some people have very singular ideas
about building railroads, and we regret
to be compelled to say that some OF the
subscribers to the capital stock OF the
Wheeling 4 Lake Erie are among the
number. The first error was made by the
friends Of the road in different localities
in taking stock; individuals were permit
ted to insert all kinds Of conditions. This
conditional stock was represented TO the
Directors after the organization Of the
Board as being bona fda subscriptions,
and the Directors were urged to proceed
Immediately, and have been severely CEN
sured for not doing SO. OF course the first
thing to be done was to get rid Of the alb
surd and impossible conditions, In many
cases this was accomplished after much
labor and the loss Of valuable time;
in other cases the conditions were
insisted on and made large addi-
tional subscriptions necessary. Then
many rival routes were presented and
their claims urged, making it necessary
to spend time in surveying and selecting.
After u route was adopted the company
were urged to call in subscriptions and
"push thingsn but here the panic Of
1873 burst upon the country as unex.
pectedly as q clap Of thunder from a
clear sky. Under the pressure OF this
panic many roads, well under way, were
compelled to suspend operations, while
others already completed have passed
into receivers hands; and yet the Di'
rectors Of the W. & l.. 4. Railroad have
never relaxed their etiorts-never sus.
pended operations, and on those parts Of
the route where subscriptions have been
paid the grading Is almost completed,
at other points the hard times were plead
Us an excuse for the non.payment Of
subscriptions according to the call Of the
Board, and yet these very subscribers
complain Of the want Of energy in the
managers. Two courses were Open-One
was to insist on the prompt payment OF
subscriptions all along the line, regard
less oil the money pressure, and let the
money lie idle until the preliminaries
were settled; the other was TO let the
money remain In the hands Of tho subscri-
bers and they enjoy 1t until 1t was H6so'
lutely necessary for immediate use. The
latter plan was adopted, and early in the
past summer supplemental call for the
payment Ofsubscriptions was issued pay
ment to bO made In ten per cent. INSTALL
ments every thirty days. In many cases,
we learn, this call has been unheeded,
and the Directors have placed the books
in the hands Of attorneys for collection
with instruction, that where suit Is
brought 1t shall be on the original call
and interest Is to be collected from de-
mand to date Of payment; 80 subscribers
who are delinquent may know what
to expect. We are satisfied from infor.
nation obtained Of Mr.. Robinson, the
Chief Engineer, that the delay has been
Of much advantage, rs much OF the time
has been spent in re'surveyiRg, In
strengthening and thus shortening and
improving the route. Now after an al.
most infinite amount OF obstacles have
been surmounted, after the expenditure
of much time and n large amount Of
private funds on the part Of the energet'
ic Board Of Directors, they propose to
push the road to early completion all
along the line, and they expect and ask
the corporation Of all interested in tho
completion Of this much needed improve
ment.
a word to subscribers to the capital
stock Of this road; You believe the
project to be practicable, you believe It's
benefits to you will be four.fOld the
amount you have subscribed, you believe
the road will be paying one, and you
believe the sooner the means are fur.
nished the sooner the road can and will
he completed. Therefore, pay your sub:
scriptions TO your local collectors, and
by so doing encourage the Directors to
proceed and save costs to yourselves.