The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1878-04-26
HELlAERE.

The BeIiairc mnd Southwestern Rail.
road-Its Financial Condition and
PrOspects-0IherEt Items OF Interest.
President Morgan OF the Bellaire and
Southwestern railroad, was out along the
line of the road yesterday, attending to
the ,ompany's interests 10 person. We
learn from the Secretary, however, tba.
the first section reaches from BelLalrc TO
Woodsheld. distance Of forty-two
miles. This is graded through It's enllre
length, with the exception Of two miles
Of rather heavy work, and two CT very
light, and reSdy for the ties, which are
piled st cow enlent intervals along the
line of the road, ready to be laid. There
is some little finishing o. grades and lay
ing of small bridges to be done yet, tie
measuring and marking TOR which Is
all finished. Five miles of this section,
from Bellalre down the Ohio river TO
Wegee creek, and for something over
half mile up this creek, Is completed, ana
regular trains are running, and, as before
mentioned in the REGISTER, doing
good local business Some time ago the
Board OF Directors, in order to complete
the construction and equipment OF the
road TO Armstrong; Mills, st least,
distance OF lwenty-oue miles, proposed to
sell 100000 OF first mortgage bonds OF the
company At eighty cents on the dollar.
With twenty-one miles completed, winch
can be done within three months, the
board feel well assured that 1t will de-
velop such q trade Lhst from the net earn
mrs the interest on the bonds Can be
promptly met and thus secure a ready
sale OF the bond ~ or near par value
At the next meeting Of the board
proposition was made, which was deemed
more advisable, and the bonds were with
drawn from the market
The plan referred II embraces a loan TO
the company by individual stockholders,
or other friends Of the project, OF Il slm
not less than $50 600, for term OF years,
TO be expended in the completion and
ou.ft of the road, the company to place
in the charge of competent person,
chosen by the company and the sub
scribers ID the lean in concert, 100000
OF their first mortgage bonds, as coiia.-
eral security to the subscribers lJr the
sums loaned These bonds are to bear
seven per cent. interest which viii be
paid 10 the trustee tor the use OF those
I iosning the money The trustee Is also
authorized to sell these bonds II
At any time the company should
fail to pay the interest or principal
when it becomes due About 81 900 mas
already been subscribed to this loan, and
| it is expected that the remainder Will be
soon taken. Should the Board OF Di-
rectors fsil to realize what they expect,
the persons interested in the loan could
buy the bends when they became forfeit
/ ed, and, under the mortgage, sell the road
under the hammer. or, # this plan should
| not succeed in securing them the money
| loaned. they could iorcclose the mortgage
and bid in the road themselves, thus Sc
curing for their $4,000 loans what bad
cost the company $4,000. The oaly
aim in this plan Is TO make the parties
taking hold OF the loan perfectly secure,
and, ms represented - US by The state
ments the substance of which Is given
sbove, it seems tina. this is undoubtedly
secured.
Mr.. Charles K. w, Price, of the
Ba-resviile Enterprise Is in the city.
Mr.. Win Sharon nephew OF the Sena-
tor, who mas been staying with relatives
for some months in this city, returned %
his home down tie river.
The warehouse on the premises OF the
rolling mil, which wss blown down 10y
the wind on Wednesday is berg rebuilt.
Dr. Baker and WIFE, are visiting friends
in the country nesr Marietta
Al . special meeting OF the Board o.
Education on last Tuesday night, Mr..
John L. Duff, Superintendent oil the pub
Tic schools OF the city was reelected 10
fill that position for term Of two years
at his present salary OF $1,000 per an
NUN Mr.. Daft has not ye. accepted the
position, but mas reserved has decision
ill some future time.
Col Z. 5. :. Baron Is absent on an eX-
tensjve business trip.
Miss Jennie Rogers, who has been VS.
It.ug friends in this city, has returned to
ner nome At S.oau's station.
The Ladies Temperance League mold
they annual election for officers this
afternoon.
johnnie, brigham interesting little
son of Mr.. r. NJ. Grouse, the janItor Of
me Fourth ward school building, died on
Wednesday night, and will be buried this
morning at ~ o'clock. School was
omitted in the ward yesterday and to-
day on this account.
"Teu Nights il Bar Room S to be