The weekly register. [volume] (Point Pleasant, Va. [W. Va.]) 1862-1909, 1882-07-05
Wy. Pa q. m. r..

The following letter from Senator
Camden 10 the President Of the above
road, explains the condition Of the
W. P. & c. r. R., at this time, andin
it will be found some wholesome ad.
vice. Itshows the necessity of our
people dealing in a liberal spirit
with the company, if they hope to
have this road through the county;
New YoRK, June 23d, 1882.
To he President and Directors Of The
W. P. & G. r. r:
The gentlemen representing the
syndicate to build the road from
Wheeling down the Ohio River to
Parkersburg and Point Pleasant, met
in New York, on the 10th Instant
Mr.. llsley, who had been selected as a
practical railroad expert to examine
the line Of the road and obtain sta
tistical Observation-Disclosures his
report recommending that the entire
line be built from Wheeling TO Point
Pleasant. The syndicate expressed
confidence in the merits Of the enter
prise, and concLrred in the recon-
mendation that the whole line should
be built at the same time, but were
OF the opinion that the present un.
satisfactory condition Of financial
matters resulting from great depress-
ion in railroad securities, and the
general feeling of uncertainty and
apprehension produced by labor
strikes, and other causes made il haz-
fzardous and unwise to4commence an
investment Of this magnitude un-
til feeling Of confidence is restored.
AS you were informed by me at the
last meeting of your Board the syndi.
cate had been formed with capital
sufficient to build that part of the
road from Wheeling to Petersburg,
leaving the part FROM Petersburg to
Point Pleasant to be provided for af-
terward; but after a personal inspect.
ion Of the whole line by some Of the
members Of the syndicate, they were
of the opinion that the true interests
of the enterprise required that the
entire line from Wheeling to Point
Pleasant should be built at the same
time, in order 10 secure the impor-
tant advantages of through connect
ions for business between Pittsburgh,
Wheeling, Petersburg and the South
and West by connections contempla-
ted from Point Pleasant. 1t was
then proposed TO increase the capital
Of the syndicate from the amount re-
quired to build the road from Wheel.
ing to Parkersburg to an amount suf-
ficient to build the entire line, and
also look to the necessary arrange
ments for connections with other
roads.
The meeting in New York was for
the purpose of increasing the capital
Of the syndicate and carrying out
this view, but as stated after careful
ly considering the present unsettled
and unsatisfactory financial outlook
it was thought best to defer further
action until moro settled and salts
factory feeling is developed.
The syndicate is satisfied with the
merits Of the road and looks to build
ing it as soon as circumstances are
favorable and recommend that your
Company complete the surveys and
the free rights of way from Parkers-
burg to Point Pleasant so as to be in
position to enter into arrangements
for building the road whenever the
financial conditions change for the
better, and IN order to enable your
Company to meet the expenses neces.
sary for this purpose arrangements
were made u furnish you the means
required. Very Respectfully,
J. N. CAMDEN.