The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1877-08-07
Another communication from
Our Anti.P. w. & Ky. Cores.
pOutlCnt.

WHEELING, August 9. 1877.
Editors IntellgenCer:
Permit me to express my thanks for
the courtesy shown my note Of the 4th
inst, and to say in addition that your
structures bear evidence Of being some.
what "ex parte.' There is certainly, il
your remarks are correct, an erroneous
impression in the public mind that con.
siterabIy over S250,O00 has been spent on
the p. W.. 4 KyR.R. Granting however
that there was not, isn't that sum large
enough to suit the complacency oil the
tax payers?
Having invested s95o,OOO in the road
what part Of it is saved by investing
$4,000 more in "new" capital stock Of
SlS0,O00-the balance OF $4,000 being
held by the Pennsylyania Co. and copart.
ners? Isn't the original S250,0O0 lost for
all that? Upon yOur showing it is only
going TO pay per cent upon the SlS0,0O0,
OF which the original $3.50, 900 Aforesaid
forms no part. It is hard to see under
this arrangement how the public are go
ing to cave any portion OF the S25000O.
Now suppose the road will earn per
cent upon SlS0,000 "the capital Of this
new organization" what statistics have
been published TO show this, except those
stale ones, shown about two years ago,
which will bear a liberal discount to
meet the new basis brought about by the
shrinkage ofthe last two years.
What rate OF interest will these bonds
We arc asked TO vote for bear7 Certainly
not over per cent. Then where is the
benefit TO come in il We must pay 7 per
cent and receive 7 per cent, with the
chances decidedly in favor OF the proba.
bility that we will have to pay more than
per cent for the money to buy the S5O,.
900 bonds with.
venture to predict that this SlS0,000
will not be sufficient to complete the
road aO proposed, in view Of the fact that
an almost entire new road bed must be
made, aa some parties who have viewed
it most decided y assert, and that it will
be only history repeating itself" and
that there will be another demand from
this capacious NAV. claim that il il far
better for the taxpayers OF this city and
county 10 let the road 20 to perdilion,
rather than invest $4,000 or 50 cents
more upon the thin pretext OF saving
S25O,O0O, when the latter amount ia ire.
vocAbly lost. call this "hocus.pocus"
Just IA much "a do the publication OF
old, stale and loug-ago controyerted lit
erature-jnst IA much "a do conceal
ment OF all the facts and figures.
The tacts arc that $4,000 more is
wanted from this county; not 10 save
S2j00O0, which Is lost beyond recovery,
but merely to add to that already spent.
iu order to build the road, or portion
OF it, to save its being done by private
enterprise, for private bOneis.
This proposition looks very much like
as il it was submitted 10 the wealthy
stockholders OF well.to.do mauufsc-
turing concern, who in their individual
capacity were asked to take the stock o,
bonds in order to complete the road il
connection with other interests. hay,
yet to hear Of a single person WHO il
willing to buy them.
Now, it Is an accepted and we'll proyer
maxim, that what cannot be done safel,
by individuals, cannot be safely under
taken by cor porRtion. II it would no
pay the stockholders, in norder to adyanc,
the value OF property, will II pay th
county. | don't believe the thing vii
nSuEs out-and am inclined to call II
"hOcuS.pocus,n
mhai guarantee have we that III,
FehnsylVania Company will not back ou
~ GngrSclously as did the r., C, 4 81
Louis Company? Then does not IN
Penusylvania Company make it a condi
tion that her stock is 10 be a pretsrrs,
stock In that case Brooke and Obi,
counties are to be aSked 10 tsEe n bscl
seat and sit outside and whistle Ior tbsi
per cent while the Fennsy lvania Com
pany ia gobhling IL? II these are n,
facts the public should understand then
and vote accordingly.
Do not understand me Us desiring I,
provoke quarrel with you or the road
or even discussion, for / am at decide
disadvantage, but want to enter m
solemn protest against this moyemsn
and TO call upon the public to reeiSte
their votes against Il, simply in sell
defense, for We are fast becoming a tar
ridden people, and for one am oppose,
10 any further subRidies.
am always anxious 10 see our yarioul
aanItsctories improved and advanced
onl DO not want to have all the none,
spent on one or two. There Is lini
where "iotebearanee ceases TO be a yir
'ue' This railroad has been before m,
PUBLIC many times. The laIe vote should
nave settled 1t, but this same "co.eriep b.