The Weston Democrat. [volume] (Weston, W. Va.) 1875-current, 1877-07-21

to her want Of public spirit and entor-
prise. and to a int.hcartcd, timorous,
narrow policy. which would sink a
grand improvement set on foot By her.
self, when half accomplished. We
cannot anticipate that she will take
this backward, ruinOus stcp-back.
ward because it would reverse her for.
ner declared policy, aud ruiuOns, be-
cause it will not OuIy lose tho west.
ment already made by hcr, aud the
towns of Weston and Clarksburg, and
private subscribers but may also
blast tho whole undertaking.
If the county should decline to OK
tend further aid, the project might, by
means Of a mortgage to private cor
still survive and succeed.
though this is involved IN uncertainty
aud doubt; but this would lose all sub
scriptious thus far made, in all proba.
bility. If finished BY means Of q mort.
gage, tho road would be in tho hands
Of a corporation whose interest would
bo to demand chatges which would en-
rich it, whereas, if controlled by the
county, its interest aud policy would
be to charge low rates for passengers
aud frcights, barely enough to pay ex-
pcnses, and thus encourage production
and trade; or il higher rates should bo
exa6tdG thay ttji iTfS:;l3 TSz4 gs5:G:5G county to
pay its bonds, aul after their payment,
to general county purposes, instead Of
going to enrich o private corporation.
Therefore tho Bua:d Of Directors
recommends to the people tue proposed a
subscription, 50 that the work may DO
pushed to completion. No moro favor
able time for its completion will ever
occur, owing to tue very low prices Of
iron, labor and material. A rise in
iron next year might increase its cost
many thousands. While upon the sub.
ject Of the proposed subscription, refer
encc should bc made to a misunlcr.
standing rs to some points to somo cx-
tent prevalent.
The questions arc asked, "Who is
the Company" "DO not few iudi-
viduals own the road ut the expense Of
the public p "WhO will get the prof,
its to occur from tho road 81 The
Company is a body corporate, cOmpos-
cd Of the stockholders. These stock
holders Own the road, they own the
they arc tho Company.
These stockholders are tho county Of
Lewis. tho towns Of Weston and Clarks.
burg and individual subscribers. The
county and towns cast their votes in
stockholders meetings, by persons
called proxies, appointed by tho cOuu-
ty court and town councils. The stock.
holders elect tho directors, make and
unmake them as they please and the
directors clcc. the President and 9TH
er officers, and manage the operations
Of the company. The directors ure
mere outward representatives of the
nero temporary managers
Of its affairs, to 10 changed annually
if the stockholders so will, aud do not
own q dollar in the road save as they
may have subscribed and paid in as
private individuals. Every stock
holder, Whether county, town or indi.
vidual, has vote proportiOnatc to the
Of his stock. Hence Lewis
county with lis stock, being larger by
far than other subscribers, would con.
troll and rule tho Company, its
frcights, its management, all its essen.
tial operations. Out OF the yearly gross
earnings there would be paid tho cost
Of operating the road, aud the balance
would 90 to the stockholders as divi-
deuds, tho county, towns and iudivid
ual subscribers receiving in proportion
to their stock. It follows that of the
profits earned, Lewis county's treasury,
whatever they be, will receive tho IL
Op's share, to 60 to pay of her bonds,
and then to pay general county cxpcu.
scS. Just here it is proper to say that
no officer Of the company, president,
Vicc.prcsident, treasurer, secretary or
director has yet received q cent? com.
pensation, oncrous as have been the
duties and responsibilities Of their posi-.
tiOns.
TIE ROADS PROSPECTS wusS COMPLETED,
There can be no reasonable doubt
that the road will be self.sGstaining,
and, with economical management,
yield a dividend growing as tho county
advances. Il is 10 drain all Of Lewis,