The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1877-06-06

.NTNn
s,,ct IN the amount Of about S3oO,OOO
which stock they are willing, upon the
completion Of said road as Aforesaid, aho
in consideration of the advantages 10 the
citizens of SAID counties, TO ass Ign aho
transfer TO any party or parties who shall
furnish the means TO so complete saio
road And so soon as the said COMPANY
shall, out of the proceeds OF the sale Of
b,nds herein before mentioned, or othel
means. so complete its said road, SAID
s,ock TO be divided among such parties
nro. rata in amount with their respective
subscriptions and purchaser SAID oohds'
therefore,
Resot,ed, That the President. or either
q, the Wee Presidents, be, and he Is
hereby authorized and empowered, for
and in behalf of this company, TO sub
scribe for 100000 OF the first mortgage
7 pe- cent 80 year bonds, proposed TO oe
,ssued by the Pittsburgh, Wheeling and
Kentucky Railroad Company, at ~ PEI
centum of their par value, payable ID
railroad iron, join: fsstenings and rail-
road spikes delivered at the connection
with the Pittsburgh, Cincinnati and St
Louis Railway, near the east END OF tht
Sleubenville bridge, 1T current market
rates. with freight added. 1t being un'
derstood, however, that tor any raiiroau
iron so delivered within SIX months from
the first day of June, 1877, the price snail
be thirty-eight 1881 dollars per ton.
Provi{ed ho,cerer, That before any de
Iyery of material shall be made on &C.
count of this subscription, that all mat
tiers connected with this company, It's
organization, laws, &c, including the pro-
posed transfer of stock by the counties oil
Brooke and Ohio, in West Virginia, and
the proposed mortgage, shall nave been
examined, and fully approved and en-.
dorsed By John Scott, Esq, general
counsel OF Pennsylvania Railroad CON-
psny; and
Provided turther, That no portion OF
the subscription hereby authorized snail
become available until the subscription
for the remaining 100000 of said first
mortgage bonds shall have been made oy
local parties. who shall be perfectly salts
factory rs TO their responsibility 10 VIM.
Thaw, E.q., and
Py0pilied That the iron rails and other
material shall only be furnished rs each
five 10Y consecutive miles of the road bed,
from the connection with the Pittsburgh,
Cincinnati and st. LOUIS railway, near
the Steubenville Bridge, towards Wheel
ing, shall have been prepared and made
ready for the reception OF the track
superstructure.
On Monday, June 4th, the Board OF
Commissioners of Ohio county took &C
tron in the premises, ss fol ows:
The following agreement prepared by
W. z. Hubbard, Esq., was submitted to
tue Board by Mr.. Ewing;
This agreement made this - day OF
1877. between the Bosad Of Com
missioners of Ohio county. West Virgin
is on behalf of said couuty of the first
part, Michael Reilly, Henry X. List,
,John Mcclure, Chester d. Hubbard and
.ncb others that may be associated with
them of the second part, and ----
of the third part, witnessth, that whereas
the said parties of the second part pro-
noses by the subscription OF additional
sums to the capital stock OF the Pitts
burgh, Wheeling and kentucky Railroad
Company, or by the purchase of bonds to
be issued by said company, or by both
those methods or otherwise to furnish the
means OF completing and putting into
operation the road OF said company; now
therefore,
|. The said purity of the first part
hereby transfers to said parties OF the
third part all the stock Of said party OF
the first par. and of Ohio county, in the
said Pittsburgh, Wheeling and Kentucky
Railroad Company, and herewith deliv.
ers to said parties of the third part the
certificates issued for said stock, and
hereby constitutes the Secretary of ssld
company the lawful attorney OF the said
psrty of the first part to trsnier the said
stock upon tho books OF said company,
said stock to be held by said parties OF
the third part upon the trust that they
OF any two of them, or the survivor OF
them, should there be but one surviving,
shall hold the same and vote it at all
meetings of the said company until the
completion of the said road, which shall
be considered as completed when
train of cars shall run over it from
Wheeling to the Pittsburgh, Cincinnati
Il st. LOUIS railway, east OF the east end
OF the Steubenviile bridge, and shall upon
such completion transfer the said stock to
and among the said parties OF the second
mart IN proportion to the values and
amounts advanced by them for the pur-
nose aforesaid, which amount and values
shall be ascer,sined by the certificate of
the President of said Pittsburgh, Wheel
ing & Kentucky Rsiiroad Company.
Provided, that unless work shall be COM
menced within six months and completed
ss aforesaid within eighteen. moIths from
the date thereof, such transfer shall not
be made to said parties of the second part,
but said parties of the third part or the
msiority or sole survivor of them shall
re.trsnsfer said stock to said party of the
first part.
ii. said party of the first part agrees
and binds itself to transfer TO said parties
of the second part, upon the completion
of the road as aforesaid, the debts, liens
and claims against said Pittsburgh,
wheeling and Kentucky Railroad Com
pal or its road or property. which have
been heretofore purchased and are now
held BY the said party of the first part or
which may hereafter be purchased or
held by it, such debts, liens and claims to
be transferred in the same proportion as
the stock herein before mentioned. But
said parties of the second part shall not
hold the said debts, claims and liens as
such, if the said Pittsburgh, wheeling
and Kentucky Railroad Company shall
offer in payment thereof stock OF the said
company at par to an equal amount, but
shall receive such stock and thereupon
cancel and discharge such debts, liens
and claims.
III. Said party of the arst part agrees
and binds itself to pay and satisfy or pur-
chase the same proportion Of any judg-
mepts which M. Green & Co., and A.
Yoke may finally recover against said
- hay fafn