The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1878-03-29

on the ION 1n1t,t SHOWING Iue euhIe SoSt
ofIthe road TO this date, and the estimated
amount OF small portion Of work yet
necessary for the completion Of the road,
70 be Sl90,235 %, or an excess Of Sl0,.
2S5 % over the proceeds Of the bonds.
In this amount IL included the pur-
chase Of additional depot grounds, the
payment Of unsettled rights Of way and
other expenditures, as set forth in said
report, no. provided for in the original
estimates. This excess is debt on the
part Of this company, which Il is hoped
will be paid BY the lessee and taken out
Of the frst earnings Of the road.
At Ia general meeting Of the stockhold-
ers OF this company on the 9th day OF Au-
gust, 1877, held and called for that pur-
pose, form Of lease Of the Pittsburgh,
Wheeling & Kentucky Railroad Compa-
ny 10 the Pittsburgh, Cincinnati & st.
Louis Railroad Co., adopted At pre-
yious meeting Of the Directors and rec
commended for the approval Of the stock.
holders, was presented by the President,
read and examined, and on motion the
following resolution was adopted:
Resotrod, That the lease this day pre-
sented, proposed between the Pittsburgh,
Cincinnati 4 St. Louis Railway Company
and this company, be approved and rati.
fed as Of this date, TO take effect from the
date OF the completion Of the road ready
for operation, aad that the President and
Secretary be and are hereby authorized
10 execute the same on behalf OF this
company, and to take such other steps rs
the board may deem necessary to carry
out the same. A copy Of this lease Is OF
record 10 the minutes Of the company.
As soon as il was ascertained that the
whole amount OF the bonds could be ne.
gotiated q meeting Of the Directors was
called on the Sd July, 1877, for the pur-
pose Of carrying into effect the pro-
posed arrangement with the Pennsyl:
vania Company for the completion OF
the railroad. Said plan OF arrangement
Is herewith presented, marked @, and
preliminary thereto Abram Wilson, who
had done good service az q member OF the
board, resigned his position and William
Thaw, OF Pittsburgh, was elected TO 6ll
the vacancy, and Thos. D. Messler, Of
Pittsburgh, wes elected to gil the vacancy
already existing 10 the board by reason
OF Mr.. D. c. List declining TO serve.
On the 18th Of July John McLure, as
Vice President, and N. j. Becker, as
Chief Engineer, were directed to take the
necessary steps to prepare the road way
secure ties and complete the road as early
as practicable. Specifications were pre-.
pared and bids solicited for completing
the road bed, trsck-laying and ballastlng
Bids we're received from twenty.one diff
ferent parties, and at meeting Of the
Directors, held on the 2lst Of August,
1877, the contract for grading track
laying and ballasting was awarded TO Z.
Maxim & Co., OF Pittsburgh, as the low.
est responsible bidders who could give
adequate security for the faithful per.
formance OF the contract. Work was
commenced on the road soon after, and
prosecuted with some degree Of energy
and success, and on the 25th Of February,
1878, train Of cars ran over the road
from Weeeling to its point Of connection
with the Pittsburgh, Cincinnati 4 st.
Louis Railway, near the east end Of the
steubenyille bridge. And trains OF
cars have continued TO run over
the road between said points
each day since, except Sundays,
thereby fixing the said 25th day Of Feb
ruary a. the date on which the lease TO
the Pittsburgh, Cincinnati & 81. Louis
Railway Company should take effect, and
Of the completion Of the railroad according
to the terms Of the agreements made be-
tween the counties Of Ohio and Brooke for
the transfer OF their stock. &c, to the par
ties who may furnish the means for COM
pIeting the road. Copies Of these agree.
menta are herewith presented and made a
part OF this report, and the certificates OF
the President rs required by said agree.
nents.
The opening Of the road has been Of too
recent date TO give any data in regard
to its earnings, but all the indications go
TO show that those who invested in the
bonds Of the company aud BY conse-
quence in its stock, will not be disap.
pointed in their investment.
respectfully submitted,
G. D. HUBBARD,
tS-sS'S'"'"
The following are the papers marked
"a" and "B," referred to in Mr.. Hub
bard's report:
PAPER RA-rRAsuREa's REPORT.
W. Fl. Raraea, Treasurer, In neeount With Pitts
bursh, Wheelisg Ksatueky Z. q. Co.
To cash resolved, being amount Of
500 900 binds At % esut....... $50 cog g
Balance due O11 u
slsLO4t 81
Agdnst this bJlInes the Trewurer held. 500,
amount received from "whsellng lron aud Nall
catered on ihs Cash Rock, ss Mr.. Becker has nIt
yet reported ''distdbutinu."
Ths Eennsylyania z B Co. owes Tor oysreaarss
~ amo mt which h1, not yet bEee rrPGrted.
By amouut paid, account construction sIpIndl-
tures. viz:
En g1nE .ssssssss.s.s S1S W
ChSirs, splIess, spikes, bolts, iress and