Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1881-11-22

WHEELING, w
probably be appointed receiver. The
| Chesapeake and Ohio Railway Com
pany is the heaviest creditor. 1t holds
unpaid freight bills to the amount OF
about $4,000.
The Kanawha to be Bridged.
When the .reat railroad controversy
was raging in the Legislature last winter,
and shaking the round earth from center
to circumference "in Your minds eve,
Horatio," somebody advanced the idea
that the best way to curb an Overbear-
ing, extorting railroad was TO build an
other railroad right along side OF 1t. In
other words, that competition is reguia-
tiOn. | believe the project will work.
For nine years the city OF Charleston
has bemoaned the want OF a bridge to
give access TO the railroad depot on the
opposite side of the kanaWha. Her
sDominable apology Tor a ferry has
pointed many Cdrping critics sneer,
and the villainOus landings and ap.
prOaches thereto have been cursed
"from Indus TO the Pole" aud during
all that time it never occurred to the
Chesapeake and Ohio or any one OF
it's potentates what frightful
amount OF human suffering might be
relieved, what terrible storm OF human
profanity might be averted by building
a bridge across the kanawha river.
Now that the building OF the Atlantic
and Northwestern is al assured fact,
Mr.. Huntington sees formidable rival
line constructing on the north side et
the river; he straightway turns phllan'
thropist and, solely to do away with the
Inconvenience and annoyance OF the
ferry, he proposes to build railroad
bridge across the kanawha river, and
will connect with it a foot and wagon
way; provided the city will give HIM
proper facilities and the citizens will
make fair contribution TO the cost.
Ten Years Ago
Mr.. Huntington could have
gotten anything, in reason, he
might have asked from the
people here. Now he can have the
privilege OF owning all the property i'll
the city and placing his bridge termi-
nus and city depot just where he
pleases, provided he pays his way. The
people remember thar while the bridge
was necessary to them only, it remain
ed uuOuilt Now that it has become |
his necessity, he can build it. They
know that they will he indebted for its
construction 10 the enterprise OF the |
Atlantic and Northwestern in giving a |
rival to the Chesapeake and Ohio, and |
they will give no depot or transit tacll- |
ities to the old road, but what they will |
concede 20 the new. The people want |
the bridge. They remember that COM |
petition regulates, and they feel thank
tul to the competitor.
Now ii Mr. huntington will abandon |
his policy OF obstruction along New |
river, and allow the Atlantic and |
NOrthwester TO en- Joy its charter priv |
leges and construct its line on one side, |
as ne does on the other, a better under |
standing will be reached, and Mr.. Hunt |
ington will not appear as only occupy |
ing a kindly attitude toward the public |
when his necessities compel him 80 to |
do.
Have Brokers Brains?
Is question that has more pert,nenCe |
than might at first glance appear. the |
average brokers' capacity iOr mlslnlor- |
nation is something startling. In the |
New York Tribune OF the 18th |
appeared a report OF a meeting held |
in that city on the l4th, OF American |
holders OF Virginia deferred bonds"
Although the meeting was private, Mr.. |
J. B Manning, an eminent money mon
ger OF Wall street, in whose office the |
gathering was held, managed to relieve |
himself to a startling extent concerning |
the nature and history Otthosc Virginia !
deferred certificates.
Tine Virginia deierrel bonds, said |
Mr.. Manning, amount t. $4,000 600. |
They were issued by the State OF West |
Virginia in July, 1871, as the portion |
allotted 70 that State OF old Nirginia'S |
snte-war debt, and representing about |
one third OF that undisputed debt The |
bouds were provided for in the Consti |
luton OF West Virginia adopted and |
ratified by the Federal government in
1868. They were 20 draw 8 per cent. |
interest annually, none Of which has
never been paid, and which now, |
uncompounded, amounts to over s., Co., !
600, msSng the total debt $4,000, 900. |
At our meeting this afternoon We dis
Cussed measures looking to the recover |
ing at least OF portion OF our money, |
and Mr.. Satterthwait upon the part of |
the English holders, stated that he was |
willing to compromise at 80 per cent. |
We appointed committee with power !
to take new bonds from the State iOr |
IS 00O,0O0 as exchange for the Sl6,0OO,- |
900 bonds and interest now held, the |
new bonds to be at ; per cent. in lieu |
of the old & per cent. II some action |
satisfactory 10 the bondhoderS is not |
soon taken it is probable that the Court !
OF Claims at Washington, or the United |
States Supreme Court, will be asked to
give relief"
Is it any wonder the Virginia debt re.
mains unsettled so long as the creditors
are represented by men who talk such
nonsense as this extract contains?
lst. These deferred certificates amount
to Sl5, 100, 900
81. They were not issued by the
Stale of West Virginia.
Sd. They were not provided for by the
Constitution OF West Virginia, either OF
1868 or 1872, etc, etc. West Virginia
s not bound for dollar of those GER
tifcates; she had nothing to do with
their issuance. She will have nothing
to DO with their redemption. The cred
itors released her when they took them;
they could have no standing in court
as against this State upon those certiti-
Gates, and a Virginia farm boy, who did
not understand and discuss the debt
question better than this Wall street
broker, would not be permitted to 60 to
market with a dozen chickens or a
bushel of corn. HAMPTON.
STOCKS AND BONDS.