The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1877-07-07

can be crossed moreIcheaply at the SEeu.
benyille bridge and brought down this
road TO the mills than by way Of Bellaire,
and thence up the B. & o. TO Wheeling.
The same thing Is true Of the shipment Of
nails or any other treights from our city
by these roads. II is certainly conceded
that all Connellsyille coke will come by
this route. The transportation by wagon
OF all these freights from the other side OF
the river to this side costs from 80 cents
to one dollar per ion each way. This tax
on our manufacturers will be saved, and
thus increase our advantages as a manu-.
turing center.
The Ohio river ireighb by boats will
be brought 10 this city, as It will be the
purpose OF this road 10 build a track
down 10 the river for the purpose Of
transferring freight to and from boats.
The steamboats, will much prefer bring
ing their shipping freight to Wheeling
direct rather than stopping al Bellaire,
as they now do. This point ends their
trip, and coming here direct relieves the
present detention at Bellaire, which Is
often amatter Of hours. Their Pitts.
burgh freight will reach It's destin alton
bya shorter line and in quicker time
than at present. For these reasons and
others which could advance, cannot
see why the P. W. 4 Ky. road will not be
a good paying line outside Of the great
advantages to the people along the line
Of the road, and especially 10 the people
Of Wheeling.
II is important to bear In mind that
the investment in the p, w. & Ky. Rail.
road, when completed under the proposed
reorganization, will only be $lS0,OO0.
We will have, in other words, a road 25 |
miles long at the rate OF say 81, 200 per
mile. This, as every one knows, il q
merely nominal price as compared with
the general cost Of railroads, or M com.
pared with what lhia road has actually
cost, il we count the original stock. The
Cleveland Il Pittsburgh road, counting
double and side trackage, has about 800
miles Of line. This mileage, divided into
its capital stock and funded debt ($l6, ,4sS,.
402 55) shows cost Of about $55, 900
per mile. And yet on this immenselcost
that road earns and pays Z per cent divi-
dends in quarterly payments OF II per
cent. In order to pay per cent on its
stock and funded debt It has to earn con.
siderably over million dollars net,
while in order TO pay per cent on the
$lSO,00O invested in the p. W. & Ky.
road the company will only need to earn
$4,000 net. The little road running
from Washington, Pa, TO Pittsburgh
narna1 Nnur rlr thrna ina an H. 20 n,ynnN, ! :,
1875, according 10 the table Of earnings
reported in the last number Of Pooi'I
Manual OF Railroads.
1t is well known that the line Of this
road passes through an excellent coal
region. The coal not only abonnd5 in
the hills but unGerlies this road and the
bed Of the river for many milcs through
Ohio and Brooke counties. This coal
has superior qualities for manufacturing
purposes, and can be easily and cheaply
obtained. There are many valuable sites
along the road where coal can be had for
manufacturing purposes OF all kinds. In
my judgment the p. W. & Ky. will be the
only additional road we can ever expect
to get for our manufacturing interests in
this city. would ask any one to point
out any unooccupied territory in any To-
cality in this city or county which can
give the required facilities for coal and
railroad transportation for manufacture
ing purposes. There is no such territory
except upon the line Of this road. And
this is point that deem OF more i'm
portance 10 our counties and city than
all other advantages combined.
Again, it ls said TO me by leading men
OF Hancock county, "You build your
road, and in leSs than twelve months we
will meet you with narrow gauge from
our county, which will give Wheeling
direct trade with Hancock" This trade
| look upon as Of great importance to
our merchants and manufacturers.
In order 10 make this subscription
more clearly Understood let me say that
if our people elect, by voting this sub.
Scripti0n, on the 7th Of August, it will
give our county, in addition TO the mort
gage bonds, 1900 shares Of the capital
stock in this road, which ! believe will
in very short time pay dividends. l
am entirely confident that the interest
upon these bonds will be promptly paid.
Voters should bear in mind that these
bonds are a first and only mortgage on
the road and that the county will get
them at 90 cents on the dollar. This
price will only require the county to
make her obligations for S45, 600 in order
to purchase the $4,000 Of railroad bonds,
which amount we believe the county can
place at 6 per cent clear OF tax, par
value. While the county will thus only
pay per cent she will almost certainly
receive 7 per cent clear Of tax on $780,
900, thus making difference in her ia.
YOUR annually Of $500.
In order to show what the probable
cost Of completing the road will be at this
time l herewith append the estimate OF
Mr.. Becker, Chief Engineer of the Pitts.
burgh Cincinnati e ST. Louis road, to
which ask the careful attention Of all
readers.
In view Of these and other facts, I de.
sire to ask the voters Of Ohio county
whether sound policy Of economy does
not call upon them to avail themselves at
the coming election, on the 7th OF August,
Of the opportunity to take $4,000 Of the
bonds to be issued by the Company for
the completion Of the P. W & Ky. road.
JOHN MoLURE.