The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1876-01-17
c.e.one.ke Ohio Railroad

Messrs. Fisk j. Hatch have put forth q
circular stating plan for the organiza,
ton of the Chesapeake and Ohio Railroad
Company, after the sale Of the property
of the company. This plan is stated since
the dismissal of the foreclosure suit by
the United States Circuit Court. 1t is
proposed that a decree tor the sale OF the
property be obtained from the Virginia
court, and that it be purchased on
behalf of 1.-The bondholders and creditors
who shall unite IN the plan" and that
after the re organization Of the company
under this purchase is effected, hrst
mortgage bonds be issued for seventeen
millions Of dollars; the first for thirty
wears. and the latter for forty years.
Fisk d Hatch conclude their circular as
follows:
1T is also believed that when the
Chesapeake and Ohio Railroad Company
,s reorganized aud re-estsblshed upon a
sound basis, and its future control and
policy So determined as to give to the
cities of Richmond, Louisville and Lex
iugton satisfactory assurance that
it will be managed in harmony
with the Interests and plans
heretofore entertained by them, the
project for completing the Eliza.
be,htown. Lexington and Big Sandy
railroad. by meaus of subscriptions from
these cities, will be revived and success
fully carried out. This will give to the
Chesapeake and Ohio railroad one OF the
most importan, OF its contemplated west
arm rail connections, and doubtless result
in the construction OF one or the other OF
the projected lines along the Ohio river
TO Cincinnati"
We suppose this is the plan favored
bv The New York directors, who raised
the money to build the road from Gov
ineton to the Ohio river. We may i'm
sgine difficulties in the way OF pertecting
this scheme. No science Will be free
from them. But that the road must be
sold. there cannot be doubt
We may say also that NO
plsn which does not contemplate
and provide for connecting the Chess-
neske and OHIO road with the western
system of railroads can succeed. We
cannot suppose that any company oi
CAPITALISTS would dream o: purchasing the
Chesapeake and Ohio railroad withou:
frs, clearly providing for its extension,
so that i, shall not only connec; with the
Kentucky system Of roads, but also with
the OHIO system, and through that with
the roads Of the entire Northwest.
Looking upon the gres: work, situated
and circunstanced as it is.' We have no
fears. l, isa property Of too much mag
nitude for subordination. II must main-
tain its independent character and inte-
gri,y. Whoever may become is Proprie'
tors can become so only upon the condition
that il shall continue great corporation.
entirely tree Of entangling alliances and
untrammelled, to prosecute iu own IN
,erests in the best way to pr mots III
own prosperity and welfare; and We
hold tha, that can only be effectively
done by advancing the welfare and pros:
perity Of the communities q: IFS tsrminl
and along the route it pursues- -,
We contemplate no event that "ili
preysnt the contamination Of this theory
of its future. The property cannot stand
in II. present state, and It cannot We Dc
l;eye. change hands without the condi-
tion. We have stated Acknowledgements
Dispatch.