Shepherdstown register. [volume] (Shepherdstown, Va. [W. Va.]) 1849-1955, 1881-11-19
LOCAL RESOURCES.

The road will develop a section of conn
try nearly 600 miles long Cincinnati 10
Baltimore) by about 100 miles in average
width, containing enormous local re-
sources and almost entirely unprovided
with railroads, The eastern section thro'
Virginia and Maryland crosses a fine
farming country; the western, through
the rich Ohio River tier of counties in
Ohio, thickly populated, very productive
agriculturally and Astounding in well-de-
veloped mineral resources but the mid
die section will ultimately prove the most
valuable 10 the road. The great BUSINESS
to be done here is in coal, timber and iron
ore, and their manufactured products.
The Baltimore and Ohio Railroad crosses
the northern part and the Chesapeake and
Ohio the southern part of West Virginia /;
while the line Of this projected road, fol-
lowing the valley of the Elk River, takes
the central part Of the immense coal, tim
Der and irOn-ore section of the State.
Professor Murray says in report to the
company that the available quantity Of
coal, iron-ore and timber in section ten
miles on each side of the road through
West Virginia is worth $4,000, 0O0, 600,
all accessible, above water level and avail
able for transportation" On the pro-
posed line there are 20S towns and cities
of which only 20 have railroad connections
the total number of counties penetrated Is
AZ, their average population being 30, ol3.
COST AND EARNING CAPACITY.
The maximum cost of construction to
make a frst-class, steel-rail, single-track
railway upon the route will, it is estimated
by the engineers, average about $26, Geo
per mile for the entire distance, or, for
600 miles, SIS, 000. 900, besides which tn c
side tracks, depots, warehouses, grain ell
evators, repair shops, water tanks, rolling
stock and telegraph wires will require
probably $40, 900, 900, making q total for
the railway completed and in operation Of
$25 900 600. This sum Is about one-quar-
ter of the amount at which the other lines
from Cincinnati TO the seaboard stand.
The low cost is attributed 10 the advan-
tages of the route in following the river
banks. To pay 6 per cent. upon $50, OO0,-
900 the road must earn about So 900 gross
per mile. 1t is claimed that the road can
earn that amount from the start and soon
double it. The projectors argue that the
Chesapeake and Ohio road, extending
only from Richmond, Va, to Huntington,
w. Va, (practically from nowhere to no.
where), aud without Western connections
has been earning s5,929.e2 per mile while
the Baltimore and Ohio earns $40, 526.20
per mile, the Erie SIG, 625.3l, the Pennsyl-
vania $23, POI 81 and the New York Gem
trail $29, 9204l. Owners Of valuable coal,
timber and iron-ore lands slong the line in
West Virginia have promised to give
about three hundred thousand acres OF
their lands.
TIE FINANCIAL PLAN.
4 construction company has been
formed under the laws of New Jersey TO
build and equip the road. 1t Is called the
Union improvement Company. and will
have capital stock Of SO ,00O, 900. The
railway company " i'll deliver 10 the i'm
provement company S25, DOC, 900 5f first
mortgage G per cent. bonds and s25, Co.,
600 OF common stock, in consideration Of
the construction and equipment OF the
railway by the improvement company.
The improvement company will first re-
ceive subscriptions TO its own capital
stock of $40, 900 900, and when all taken
will call up insEslments on same as re-
qnirej and proceed at once With the con-
struction OF the road. The improvement