The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1878-01-29
wheeling Register. 23d inst.)
BELLAIRE AND SOUTH w EST.
ERN RAlLROAO.
What President Morgan Says In
Regard TO Iss Prospects.

1c w Spou pcopiC VI tuc ID " . uOuiS
at present?" queried Register reporter
of Mr. E. G Morgan, ,Presiden. of the
Bellai-e and Southwestern, road, yester
day afternoon Mr. Morgan was sitting
at his desk in the company's office, busy
making some calculations, hut he greeted
the reporter with warm welcome, and
answered cheerily: So
"Oh, we're all busy trying to push
things ahead as fast as possible "
''Whst Gid you do atthe meeting of
The Directors last week r.
I'VE organized Board of Directors,
numbering fifteen, all well kno wn gentle
men from Monroe and Belmont Coun
tirs. Those from Bellaire are Col B R
Cowen, John " Sanders, Booth, ia
cob Heatberington and E G Morgan j
The most important action performed bv
the Board vas the passing Of q resolution
10 put $50, 900 worth of 6rst mortgage
bonds on the market and ask for eighty
cents on the dollar for them They will
carry seven per cent interest, pay able
semi annually, and will be an excellent
investment"
"Who do you think will take the.
bonds p
"Well, I'm in hope that the stockhnld-
ers will buy all of them II is the inten,
ton Of the Board to visit the stockhold-
ers personally and endeavor to persuade
them BY doing this they will secure the
road for themselves and will run no risks
If they do not take all of the bonds, or a
larger portion of them, it may go hard
with them, for provision will be made in
the mortgage bonds thstif the interest is
not paid within four months of the time
1t is due, the road can be sold either at
public or private sale, and the stockhold.
ers would thus lose their money / think,
however, that the greater part of the
bonds will be bought by the stockholders
and then OF course they will be perfectly
secure"
"What security do you offer for the
mortgage2' ssa
"Four times the amount Of the loan
The road has already cost S240. 900, and
when the $50, 900 aditio1ai ia expended
on it, there will te 100000 worth of
property as collateral. This $4,000 will
anish the road to Armstrong; Mill. 81
miles from Bellaire When we reach tina.
point we will require another issue Of
ESQ., 900 worth of bonds, but we expects
get ninety cents for them. This last sum
will complete the road to Woodsdeld, Al
miles from here"
"Do you think you will make money
enough to pay the interest from the
start !" 80 s65
.rhere's no doubt aboutit. Naw, I'll
give you some idea of our expenses and
thereceipts which We look for Twenty
Eve bushels of coal will ran train tive
days. but l will base the calculation ou
one DAVIS running of single train to
Woods6eld Coal 81 engineer ~, ,hrakea
man aud fireman % SO, total S5 80 Now
say we have ten passengers eacil way,that
will he $50, four cars of frei9h' At hal
Q cent ton per mile, would be S64 thef
the express receipts would make it a
least Sl00.and the net gain would amoun,
to $94 80 for single train. The coun
try which we are to open up isone that
we'll settled and largely productive, bu
has little or no outlet for its produce. In
that part Of Ohio they grow at least 20,
600 hogsheads Of tobacco, and we vii
carry two-thirds oft We viii also have
a heavy trade inlimestone for the furna
ces. The road will furnish a splendid
coal market for the mines in this section,
There is not q single coal bank which
amounts to anything between Bel)aire
land Woodsield. They pay twelve cents
Ia bushel Tor miserable coal in the latter
town at present, while we would furnish
4 the very best for eight cents"
"How much of the road is finished
now, and what do you expect to do fol
THE presentr' -
I'VE have five and half miles in com
tplete running order now, and will rur
trainsto to and from Wegee, Tuesday W,
will not run any freight trains just now
With the exception Of two sections. each
a mile in length, the road bed is graded L
Woodsfield and the bridges, DC , ar,
built. II has been surveyed as far a.
Athens We expect to stop for the pree
ient at Amber store, about three fourth,
of mile up from Wegee, until We SCI
how the bonds sell and what the outloot
will be. We would like to 60 on at once
as We anticipate rise in the iron market
but it is not our policy to 60 beyond Am.
bler's at present. Sixty thousand dollars
will build and equip the road from Arm
strong's Mill to Wonds6ehl, in that
case there would be $500, 900 security fol
$4,000. We can take force Of 25 Oh
26 men and lay haK mile of track q day
land have it in readiness for the train "
"Then you think that your prospects
,aken altogether are bright 2
"Oh, yes We have every reason Il
believe that we shall succeed il the stock
holders will only look out for their Owl
intercsts.