The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1878-03-30
p. Ky. RAILROAD.
OfieiaI Reports Made TO tue s,oeA'
naIde1s; m Getting on thursday
THE PRRsIDKsT REPORT.
WHEELING, March 18th, 1878

WHEELING, March 2Sth, 1873
To the Stockholders of the Pittsb'trgH
Wheeling and Ksntueky Railroad Conn
PaHy.
A! u general meeting OF the stock
boilers Of this company held on the Zosl
day of September 1876, the Board OF III,
rectors were authorized and empowered
TO issue bonds 10 the snoubt OF sZUo,uVo
bearing interest 81 the rate OF seven PEI
cent per srnum, and TO dEPo7e
of the same on the best terms Lnes
co2ld obtain. And 10 secure Ihs
payment of the bonds 50 10 be issued, Tue
Board of Directors were further sulhorl'
zed and empo wered 10 make, execute snd
deliver 10 such trustee or trustees IS Inc
President OF this company may selec',
mortgage of the railroad constructor Oh
10 De constructed of this company from
the Pittsburgh, Cincinnati. u ST. LOUIS
Railroad q. the east end OF TIE SIeucen,
vile bridge to the city OF Wheeling, snd
u their estate real and personal now
owed and hereafter 10 be acquired $40
Of the corporate franchises Of the same
In pursuance Of the above reeited al.
thority, the Board Of Directors lssued
bond. 10 the amount Of $4,000 being
200 bonds OF the amount OF $1,000 eschr
bearing date October 9th, 1877. ard pay.
able in thirty years from the first day OF
November, 1877, AID have executed q
mortgage OF like date 0! October ON,
1877, 70 secure the payment OF said
bond; sud the interes. thereon 20 Thos
D. Mes.ler sad VIM. 2. Hubbard, tcus'
ter, who have accepted tbs truss. on 81
the real aud personal property OF
the company, new owned or here
after 20 be SECURED, and o. the co.,
por.te franchise. Of the same. A copy
OF said bond and mortgage /, herewith
submitted in the recorded minutes OF the
company. The said mortgage further
provides shat on or before the first day OF
November, 1880, the sum Of s2 900 shs!I
be paid over 10 the trustees =, the frs:
in.tallment OF sinking fund for the re-
dempuou OF the bends and annually
thereafter on or before the frs. day OF
November OF each year like amount
OF 1900, for the same purpose. Sad
bond, were negotiated 81 ninety cents
on the dollar, retting TO the con-
p.ry $50 OOO-sl0O,OVo being taken oy
tie Pennsylvania Company, payable in
!roa rails and other material, needed II
the CONSTRUCTION o: tue ro.d, $4,000 BY
Ohio 7unty, West VirgIni., aud the re-
naisder oy ether parties. Tue proceeds
oflhese bond. have been expended IL
soc construction and completion Of the
railroad ready Fer the rolling stock, eu =
CHASING site. Tor and erecting depots snt
paying unsettled right. Of way. A de-
:sled statement OF these expenditures Is
herewli. submitted II the report OF toe
Treasurer o, the company, W. 4. Barnes,
Esq, ma-Eet A.
Herewi.a il .lso presented the repor:
OF L1let Engineer u. }. Becksr, marked
nB" msds to the Director. 81 their meet
ing on the IS,h met, showing tie entire
COS. 0: the road 20 TIL, date, and the es!l'
m..ed amount Of ssms.. portion OF Work
vet necessary for the completion OF Iae
road, 20 be S!y0.235.22, or an excess Q:
slO,23522 over the proceeds of;he bonds
IL this ancunt Is included the pur.
chase 0, stti.lousl tepo: grounds, the
p,ymen. Of unsettled right. Of way. and
Other expenditures, "a sc! forth in sad
report, not provided for n thc originsI
es:im.tes. Thi. excess is 8 deb: or TIE
p.rt o. tais company, which it j; hoped
will be p,lt By tue lessee and taken out
O. the frs. earnings OF the -o,d.
AS general meeting 1.-THE stockhold.
er3 Of Til. company OF the 9Th day Of
August 1877, held srt called 'or th.:
purpose, form OF lease Of the Pitts
ourgh, Wheeling and Kentucky Rail.
road Company 20 the It.sburgn, Gin
cinustI and ST. L1ui. Railroad Company
adopted ST q previous meeting meeting
OF 10. Directors AID recC nmerted for
the approval Of the stockholders, wai
presented by the President, resd and ex.
anined. snt OF motion tha folow!ng
resolution vs., adopted:
R,,0ir.f, Thst the lease this dsy pre-
sented, proposed between the Pittsburgh,
Cincinnati sad 81. Lou. RailwaY Com
psny and til. company be approved snd
-a.it.t IS OF this date, 10 tske effect from
the date Of the completion o. the road
resty for operation, and thst the P'esi-
dent and Secretary be snd are hereby
authorized 20 execute the same on behalf
Of this Company, aud 10 take such other
step. as the board msy deem necessary
TO carry cut tie same. 4 copy OF tals
ease i: Of record in tie minutes o. TIE
company.
~, soon as il was sscertaIned that the
wrOls amour: Of the bonds could be lie.
gOti..et, meeting Il :ne Directors w.s
called or the 81 July, 1877, Tor the pur-
pose o, carrying into eascs the proPoeet
arrangement Win the Penlsylvsui.
Company for the comp elton ottne rail-
rcst. said plsn o. arrangement is here
with presented, marked c. ard preiImi-
narv thereto Aor.m Wilson, vnc h.t
done good service IS member o! Iss
board. resigned his position and william
Thaw, Of Pittsburgh, wn elected 20 e..
the vacancy, and Thos. D. M..slsr, Of
Pittsburgh. wsa elected 10 FL the v.c.n.
cy already existing il the board by res
sOr Of NJ. d. {. List declining 20 serve.
On the ls!h Of July john AcLlrs, "
Vice President, and ". J. Becker. as
CHE. Eugineer, were directed 20 tax. the
necessary steps 20 prepare the roadway
secure ties snt complete ID. road IS earIy
"a practicable. Spec fc,tious we're pre-
psret and BIDS ,o.Ici,rd FOR competing
the -o.d bed. t-.ck.Is-irg ant b.llssting.
BIDS were received from izeniJ-one di'-
fsrer. parties. and a: meeting Of the
Directors. he'd on the 2l.t OF August,
1877. the contract 'or grazing, track