The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1878-03-14
Theqntelligetrftr.


ss'l. ssl ven that the Baltimore and
M" Nj" ,o,d has determined to move ii
Ss'" .s.o. and round house at Keyser City
.,.F III n Piedmont, on the ground that II
VII ' HEREBY save several thousand dol
wv w. ~, anaum. Piedmont will once
~. bscoue the eastern end OF the
',,oo,,ip -~s run, and the wear and tear :, oi
.o1Iiur .yG stock expended in a FIVE miles
%,b.r tS run will thereby be saved.
'- %.do not alluas to this change from
r.,,., 10 Piedmont by way Of finding
~, MI ,i,b the movement. We presume
%"i,n. financial necessity at the pres
WI =, lin. Gu the part of the company to
..,. ~, ,,.ry dollar possible, although it
.,,n, strange tha! those who made Key
., i,,...d Of Piedmont the terminus
,,,lj 40. have seen then what they see
:, ,l.,,l, nov in the matter OF increased
.,,,,,... /. is certain that a heavy
M, ,iIl b, struck OF the future Of Key.
., b, hi, ".ober second thought" OF the
.,up.uy, snd great loss, and, possibly.
,,,,, ruin, b. inflicted on a number OF
D,opls who have bsen induced to locate
,.d invest at Ksyser.
Still, these loses are a part ot the for
tB,., Of war that attach to all railroad
t,,s,. They are lia0Ie to occur at any
lima, We refer to the change alluded to
merely to show how narrowly q great
.rporltiou, that has been accustomed to
.,aut iu income BY millions, Is watching
hs. times every dollar Of outgo in the
yu Of expenses. There has even beer
ui ,hss vages will be reduced Is per
ca. shortly although this report is dis
,,.di,sIin Tuesdays BaltiROre 4msriean)
.,l 6. notice TINT between two and three
haaIrsi employees we're discharged at the
Ese,n end Of the line 4 day or tive
40.
All Indications point to the fact that
IL. Baltimore & Ohio Company, like the
ma. Pennsylvania road, is feeling the
pipch Of expenses these times very severe
i, and is making every effort to save
.r.ry possible dollar in view Of the con-
tinr.nciss Of the future. 1t reduced Id
lat dividend, and may possibly, following
Ii. example of the Pennsylvania line,
conclude next time to suspend diyidend'
altogether for the present. This necessity
soas il part from the decline 10 business
Aad in part from the decrepltude or insol'
vsucy Of connecting lines whose bonds OF
stock have been bought up. The Marietta
GCincinnati road ia one Of these insolyent
lines, and the Ohio & Mississippi is an
other, whose stock aud bonds are largely
bed BY the $50. The so-called surplus
taud Of the Company is almost wholly
invested in non.paying securities like
these, uud it was owing to the expecta'
lious oil the public that this surplus
would sooner os later be capitalized thai
th. stock was run up to $3.50 per share
Shereu it is now selling at less than one
hall that 6gure.
The panic. and especially the 9Th year
oIit nov in progress, is, like chem
itil rs-ageut, seeking out and exposing
every weak spot in great corporations
hitherto supposed to be impregnsble
rd We see their so-called gilt-edget
shares sinking to level never supposed
possible under any probability OF COM
nsrei.l and financial disaster to tht
country. The dagger Of Cassius shovel
to Rome how easily great Cesar, wor.
shipped as a divinity, could be humblet
10 the dust, and so, in like manner, the
ruthless thrust Of the panic into al
values, little deeper each year, is de
PIs!iHg many great concerns, even mann
moth lines Of commerce, Of their yer,
LIE blood, and to our utter astonishmen
telling them to the earth.
Read in this mornings paper the story
Otihs meeting Of the stockholders Of tn,
great P.nnsylvania Railroad. The re
port submitted to them a few days agt
By their famous President, Col. Thoma
seOtt, seems 10 have acted on some 0
them n a red rag would act on a MAJ
SOll IN the arena. But yesterday Scot
could, like Ca'ar, stand against the worlt
u their Estimation. Now there is scarce
y enough prestige left from his brillian
career to save him from ignominious re
PUdiAtiOn. Heia rudely assailed in thu
house Of hia. friends, and suspicious ar,
thrust at him in every shape in regard I,
MS salary and perquisites. A might!
aan'er Is ngain in danger Of being torn 4
pieces By his own hounds. Not becaus
sl'y did nOtknOW, all these years pas
SAAtScott was doing; how he was cou
uau'lly y bringing prisoners home
S'1e; how he WA adding line upon linl
lease upon lease, guarantee upon guar
aa'ee' Y to the triunphal car Of the grea
Pennsylvania corporation. But tho.
we're the days Of dividends, when the
aS all these sights. Those were th
'a'h days when these same courtier
aid u after US the deluge."
tA' deluge came too soon. As i
France, itdid not wait ou. the life tim
81 q those who had bAsked in the smiles {
As monarch. "Hence these tears.n Fo
The inst time the impending fate Of III
great corporation Is somewhat clearl
di'ceFnsd. Iii. seen to be saddled wit
load that only Alias himself coul
a'fy' Think Of assumptions aud guarar
%e' TO The amount Of 1870 millions Of do
@'' and bearing a rate of interest, to,
a'Ie's than seven and fOur.tsn.hs pc
eea'I Think oil a shrlnkage in assets .
s'sl''hA' the unwilling pen Of Scott hu
70 Be drawn throuch Ian million. ot,h.,