The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1876-02-17

for any ueD9 mhue ny tue parties uuu
their associates to whom this transfer is
made, nor for any debts heretofore con-
tracted on account Of said railroad.
As showing wherein the action taken
by Brooke county, as above set forth,
differs from that takenby this county, we
reproduce from our files the proceedings
Of our Board Of Commissioners on the
TIN OF this month. They were as fol-
Iowa:
The special committee appointed to
confer with Messrs. @. D. Hubbard, 81. K.
List and others, associates in'the forma-
tion OF company to complete the Pitts
burgh, Wheeling & KY. Railroad, and
the transfer Of the capital stock owned
by Ohio county in said Z. W. & Ky. Rail-
road Company, reported the following as
the basis Of contract submitted by the
gentlemen mentioned above:
They, and such others as may be asso-
ciated with them, propose to subscribe
additional sums to the capital stock OF the
company for the purpose OF completing
and putting the road into operation, and
to commence work for that purpose with
| in one year and finish it withinI two years
from the execution Of the contract be-
tween the counties named and the COM
pany. The road is TO be considered COM
pleted when train Of cars shall run over
Il from Wheeling to the P. G. & ST. Louis
road east Of the east end OF the Steuben-
vile bridget but upon the following condi-
tions:
1st. That The counties transfer to per-
son or persons TO be selected their stock
in the said company, upon the trust that
he or they shall hold the same and vote
il at all meetings OF the company, until
the completion Of the road; and will then
transfer the same to the, and among the,
signers hereto, and their associates. in
proportion to the several subscriptions
made by them for such purpose, to be as
certained by the certificate OF the Presl-
dent Of said company.
ID, That the. counties shall upon the
completion OF the road, transfer to the
same persons and in the same proper
tions 10 the debts and liens against the
road Heretofore purchased and then held
by the counties, to be discharged by the
transferors upon receiving stocks to an
equal amount in said company and upon
such receipt no longer to be held as debts
or liens against the company or its prop
erty. --.
81. That in the event OF final recover
les by NJ. Greer & Co. and A. Yoke
against the z. W. & Ky. Railroad Co., the
counties shall assume the payment and
satisfaction Of such recoyeries in the pro-
portions in which the counties have here
toiore assumed and paid the Indebtedness
OF the company.
The following modification was sub
sequently made to the original PROPOSE
ton:
ave further agree in case we do not
succeed in six months after the signing
Of the contract, in getting additional
subscriptions or raising funds otherwise
sufficient to jnstiiy us in commencing the
work, to give notice thereof to the coun-
ties and authorize them to make arrange
ments with other parties"
The committee considered this the
best that could be done to insure the
completion Of the road at an early
day, and recommended its adoption by
the Board.
The report was signed by the members
OF the committee except Mr.. Schultz, who
submitted minority report dissenting.
The minority report received but one vote
Mr. Schultz.
The proposition Of the Company was
then accepted by the Board rs the basis OF
contract, and the President and Clerk
OF the Board were authorized to sign said
contract. Messrs. Schultz, Waddle and
Whitman voted against accepting the
proposition.
As we remarked above, we do not see
any vital change on the part Of Brooke
county OF the contract entered into by
Ohio county, unless the 4th, and last, Sec
ton Of the Brooke county order be SO con-
strucd. 1t is therein declaredIthat Brooke
county will not become liable "for any
debts heretofore contracted on account OF
said railroad" whereas in the contract en-
tered into by Ohio county II is agreed in
the event that NJ. Greer & Co. and A.
Yoke recover their claims against the
road, the counties shall assume the
payment of such recoveries. Whether
these claims are Of such au amount
as to be made 4 matter Of mo-
ment to the counties or the new Or
ganization We know not, nor yet do we
certainly know that the 4th section Of
the Brooke. order refuses 10 become
liable for said claims. The mean
ing OF the section is not clear as it comes
to US, but perhaps it can be made clear
by those who drew it up. With this ex-
ception we do not see anything in the
action Of Brooke county that need be an
insuperablc stumbling block in the way
Of completing contract between the two
counties and the proposed new company.