The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1879-02-06
1nE EALIEY RAllRAY rR0ubLE.
Contractors Walsh & AoyaahGa State Their Version
of The Matter.


Of The Matter.
The following card from Walsh 4 Moynahan
late contractors for the construction OF the Valley
Railway, appeared last week
TO The Editor Cf he Leader;
The papers OF this city and other cities along
the line OF the Valley Railway have for some
days past published news, reports and interviews,
In relation to the condition Of affairs between the
Valley Railway Company and ouTseveF which
| Will do some injustice to us IN the public mind,
because only showing the Railway CompaDy's
side in the matter The full facts from our own
side are briefly these:
| Our contract to build the Valley Railway from
Canton to Cleveland, dated August 7th, required
us to complete the road by January LIST, 1879, aud
required The Company to pay us on monthly esu'
mates reserving ten per cent Of the contract pr'
ces OF the various kinds OF work specified as secu
rity for our fulfillment and to pay us the remain
Ing ninety per cent monthly, as follows. Three
fourths Of the ninety per cent in cash. and one
fourth In first mortgage bonds Of the Company at
(75) seventy.fve cents on the dollar.
Up TO this time the Company has never paid us
one bond and by the estimates Of their Chief En-
gineer we were entitled up TO January ist last 10
thirty thousand dollars in bonds, and upward
besides which the cash part of the December esti-
mate has not yet been paid to us, though some
part of ii has been paid to our men and properly
charged to us.
The company has from the first retained ten
per cent in cash from our earnings in addition
to twenty hVe per cent in bonds; and have hith
erto paid us monthly only sixty five per cent Of
our estimated earnings instead Of ninety per
cent, as our contract entities us to have
If the entire amount due under he contract to.
day were to be paid over to us, 1t is more1han
sufficient even at fifty cents on the dollar Of the
bonds 10 pay every cent we owe any and every
man who has worked for us or Furnished mater.
al to uson this work, and we have offered to the
company that our attorney, L, A. Russell, Esqr,
should take as q trustee for ourselves and the
company, the cash and bonds due us and him
sell, give satisfactory bond to the company that
he would Immediately apply all the money com
ing to us and fifty cents on The dollar of our
bonds or so much thereOfless than fifty cents as
should be necessary to pay all debts Or, we have
offered to the company that their secretary shod
pay all our debts directly, and charge us the
amount of them and pay to us the residue
The company, however, sees fit thus far not to
accepteilher proposition telling us that they only
want bond that none Of our creditors shall hold
the company liable, aud then they will pay over
our cash aud bonds ana make a fual estimate
and pay us that and take the contract off our
hands, &c.
From the first signing Of our contract the COM
papy has desired such bond from us and from
the first we have been ready to give them such a
bond, II the company W Md give return bond
that it would pay according to the contract, but
not otherwise.
Such return bond the company has been un.
willing Tor unable) to give, and now only makes
excuse for its refusal to pay earned money and
bonds, due under the contract, that 1t desires a
bond which the contract does not require.
The delay in completing the road has been
laIgely due to the delays Of the company 10 fur
nish us engineers stakes to work by at different
points, delay to deliver us iron that we were
ready to lay; delay to furnish us bridges; delay 10
get the right of way for us at certain points, and
such like. The work we have done has been
largely nder or short estimated to us thus far,
and altogether we begin to feel that it is the de-
sire of the company to drive us from the contract
and Withhold from us our earnings under 1t, un.
der the speciOus plea that 1t desires to be sure
that the laborers and working and material men
shall be paid, and shall not look to it for their
money
If the Valley Railway Company will stand up
to its contract (Which is very hard one for us,)
and will pay us under it like men, we will pay
every dollar we owe In this world, and have lit
tie something besides to compensate US for build
ing the Valley Railway.
When any officer of the Company says 1t has
ever advanced us money, he should be under.
stood as saying the company paid money over
the cash part of our estimate only, and while
holding more than five dollars TO one of our
bonds as against the advance.
WALSH & MoYNAHAN.