The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1877-02-27
The Brllaire 4 Sou 'lWeStern K. r.
A Statem"Dto OF the work Already
COmpleted----StoCkhOiderS
Urged tO Pay Their SIb-
sCrtptfOns. or GIVE ~
Their Notes tor
H the Amounts. . "a


Having Common interest with you
in the success of our rairoad we con
gratplate you on the progress which has
been made in its construction, and the
very satisfactory manaerin which ii has
been managed.
Careful estimates show that full half
of the work in preparing it for the rails
has been done at all expense of about
$4,000, indicating that this part. of the
enterprise when CONF lifted will have cost
the Company but Sl40, ,0C0, which is at
Last S25 900 bel Nv any estimate deem
ed isfe before the contracts were let,
We therefore have the evidence that
thus far our money has been jidiciously
and economically employed, giving entire
confidence that our enterprise is in trust
worthy hands -. Earn ->.r..n,
We are looking hopefully to the early
completion of our road to open markets
to us, 10 advance the prices of our pro
ducts, to make money among us more
abundant, and 70 revive business gere-
rally. 4, s.- A..
To the speedy accomplishment Of this
important Object everything seems to be
working smoothly and satisfactory-ex-
cept one thing. To aid in the removal
of that one obstacle is the chief oil lject
Of this address.
The one single drawback now, is the
delay in paying subscriptions. This has
already become so grave as to threaten
serious delay if not an abrupt stopping
of the work either of which would sc
impair the credit of our Company as to
add greatly to the expense and difficulty
of procuring iron and rolling stockton
both OF which the credit Of our Compa
ny must in part be usei. Even ten cents
discount on the dollar in the sale OF oul
bonds will amount in the aggregate tc
an important sum.
Although all the subscriptions are due
we learn that but one third part is paid in
and what is more humiliating to US il
the fact that in this payment our sec
tion. which has heretofore kept in ao
vance of all others, is behind every othel
section.
Our duty is plain. The enterprise il
our own. We can afford to do nothing
less than to carry it rapidly to trium
plant success We must pay our sub
scriptions promptly, even though it in
volve some sacrifice.
But there are few who cannot pa.
Immediately. From such the Company
will take a note with interest. Thes'
notes the Board can pledge as security
for loans, thus Keeping the work Pre-
crossing vigorously and at the same tim,
giving an extension of time to suhscri
bers who are not ready to pay now
Some of US may be too poor to pay OF
short notice, but none of us are too poo
to give our notes, and thus keep the worl
in progress while an extension Of time i
accorded us
If the money is not paid, or tue note
given, as above indicated, at once, theI
the company will be driven, yes, actuall,
driren, BY the stockholders, in their osc'
enterprise, TO commence actions at Law
to enforce payment OF the unpaid sub
scrip,ions II that be done, by the pro
visions of the law, Interest will be re
covered upon each assessment from th'
date at which it was required 10 be paid
this interest, then, with the costs Of sui,
will largely increase the amount nov
proposed to be taken by the Company
About the right, under the law, Of th'
Company 10 collect unpaid subscrip
tions, with interest as before stated, ,ther
can be no possible question; and tina
many of the stockholders are by thei
perverse conduct, forcing the Compan,
to so collect them is, unfortunately
equally beyond question. :
Is it not astonishing that prudent, in
telligent men should persist in cours
so adverse 20 their own interests? Be
llieving as we do, that this embarrassed
and embarrassing condition of this, en-
terprise is, with many, the result of mis-
apprehension and misunderstanding 0
their obligations and the rights and con
ditions of the Company; and having
with you, common interest in the sue
cessful prosecution of this work, we ap
peal to you TO aid is in relieving tb
Company from its necessities and iron
the discharge Of duty which will b
talike disagreeable to its officers and pref
judicial to the interests Of the Compan.
and yourself. -. - -.
| w. F. HUNTER. JERE WILLIAMS
IT,. R. Norris. NJ, HoEFFLER.
| FRITz REEF j. T JUDKINs
c. H. GooDRIcH. P. ScHUMAcHER, JH
| And 80 other stockholders
ii.sgt..fftnr p. 3fyy - - ,trFr.l} -e..l.. J,