The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1879-07-19

IN viii iointhe Chesapeake and Ohio, AM
connect 1t via Lexington, Ky, and tn
Louisville, Cincinnati and Lexington
Railroad, with Louisville and tho Wes
and Southwest, and via the Cincinnati
Southern and Kentucky Central will
Cincinnati aud the Northwest, and witt
points southwark to Chattanooga, besidei
bringing Il large proportion Of the trafiil
and travel between tho fertile and pros
porous regions Of Central and Northern
Kentucky and the East.
Second. The extension Of the yestcrr
end OF the Chesapeake and Ohio Railwa,
from It's present terminus at Huntington
to the Big Sandy River, to form connec
ton with the above, distance OF about
seven miles, -5 az. s-I i
Third. The extension OF It's eastern ter
minus to the most convenient and ayaila.
BILE point on the deep waters Of the
Chesapeake Bay. At distances varying
from tlftyto seventy-ive miles through 8
level tide-water country, either ono o.
several desirable points for this purpost
may. be reached, where vessels OF the
largest tonnage can arrive, load and de
part with greater facility, economy and
saving Of time, and where freight can be
handled and transferred to and from YES
sells atleSs cost than at any OF the ship,
ping points on the Atlantic coast reached
by the other trunk lines.
These two terminal extensions will form
parts Of the Chesapeake and Ohio Railway
ITSELF and can be built by this company
in short time aud at moderate cost, a.
the Western connection approaches com
pletion. r..,...
The completion Of the f. L. & Bis
Sandy Railroad is to be undertaken i'm
mediately, responsible parties having re
Gently entered into a contract to complete
the road to a junction with the Chesa
peake & Ohio at the Big Sandy river, and
receive payment in securities Of that com
pany on terms that have been agreed upon
as mutually advantageous and satisfactory
The E. L. & Big Sandy is separate and
independent corporation, organized un
der the, laws Of Kentucky. Thirty-thret
and half miles Of its road, from Lexing
ton east to Mount Sterling, were bull
prior to 1873, at cost Of about s., 200, 600
without the creation Of any mortgage debt
The distance remaining to be completed
is SSl miles, making, in all, from Lexing
ton to the Big Sandy River, 12S miles. +
is now proposed that this gap, which is al
that is lacking to the perfection Of an i'm
portant system OF railway connections, OIL
which the Chesapeake & Ohio Railway
will form the trunk, shall be filled under
conditions which will ensure unity Of in.
terest and management between it and
the Chesapeake & Ohio. The resources o.
the company for construction are as fol
lows:
Capital stock, other than that issued tC
counties, towns and others, say s., ,O0O, 900
First Mortgage Bonds--The company is
authorized to issue $3,500,0 ,000, in its first
mortgages, thirty-year six per cent bonds,
Of which Sl,000,000 will be reserved fol
equipment and other purposes, leaving
ayaiiSble for new construction s., 500, 900
Aid Bonds-The company is to receive
S5O, 900 in bonds from each OF the coun.
lies OF Clark and Montgomery when trains
OF cars run between Lexington and the Big
Sandy river.
Much Of the right Of way has been SO.
cured and it is believed that the remainder
will be donated,
.Messrs. Fisk & Hatch, as financial agents
ofthe Chesapeake and Ohio Railroad, have
issued to the holders OF the securities Of
that company letter inviting subscrip'
tons for 81 200, 900 OF the first mortgage {
per cent bonds OF the E. L. and Big Sandy
Railroad Company to effect the compile.
ton OF the construction and the equip.
ment OF the line. There is an evident pro.
priety in making this appeal to those al
ready interested in the Chesapeake and
Ohio, as the work undertaken is fraught
with the highest possible advantage to
that company, and indeed is essential to
the completion OF its plan and the realiza'
ton Of its prospeets. Messrs. Fisk 4
Hatch say, in their letter:
The facts and considerations which
should influence your action in matter
OF SO much importance to you arc so fully
set forth in the accompanying papers that
IL Is unnecessary that we should 90 into
further detail. No one can read them
attentively, and at the same time trace on
the map the relations which the Eliza
bethtown, Lexington and Big Sandy Rail
road bears to the Chesapeake and Ohio
without realizing at once the influence
which the completion OF this connection
will have upon the future Of the Chesa'
peake and Ohio Railway. The most nat
ural thoroughfare from large portion Of
the Great West to the sea will he over It's
line to the waters OF the Lower Chesa
peake Bay. With Its connections per.
iected, it will become one oil the East and
West trunk lines between the seaboarC
and the producing regions OF the interior
possessing advantages more favorable II
many respects than any Of the others.
The New York Central and the Penn
sylvania railroads each pay interest anC
dividends on nearly $3.50, ,000, 900; the New
York, Lake Erie and Western bids fair il
time to do the same on q still large
amount; the Baltimore and Ohio is crowd
ed with an enormous business, while II
$50, ,OO0, ,0O0 OF stocks and bonds are consid
| eEad as among the bestinvestments in th
country. The Chesapeake and Ohio, witt
lis splendid location in climate neithe
too hot in summer nor too cold in winte
for the safe and uninterrupted transports
ton OF merchandise and products Of eyer
sort, has TO earn interest on less than $50
Loo, 900 Of bonds TO make II o success, s
far rs la bondholders are concerned.
POS Twenty Years.
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