The weekly register. [volume] (Point Pleasant, Va. [W. Va.]) 1862-1909, 1882-07-19

80 - NNNh isANfs7hfAHF ~ NAnNRf
at some Of the recent meetings OF the
syndicate at New York. Have YOU
any objections to giving the scuti.
ment that found expression at those
meeting concerning this road?
was present and participated in
all the discussions lasting through
severn! days, and carefully observed
and caavassed all tie points. The
universal sentiment was that the
road is a good and legitimate enter
prise, and, with one exception, the
gentlemen were in accord to go right
along with it if d sufficient amount
of money could be raised to insure
the completion Of the road without
resorting 10 sale Of the securities of
the road to raise the money for build.
ing and equipping it. Upon this
point careful inquiries were made
and it was thought 10 be absolutely
impossible to place the securities
even at u large discount; and the
question then arose as to enlargeing
the syndicate, or the gentlemen in it
increasing their subscriptions. This
too, was fully canvassed, and gentle.
men made frank statements in re-
gard to it, and it was ascertained
that pretty much all tho gentlemen
were largely engaged in other and,
some Of them, similar enterprises, and
that they could not dispose Of securi-
ties they held in the present state Of
the market. They we're therefore IN.
willing, and. in sanie Instances were
unable to increase their snbscript-
ions. Upon consulting with other
persons in this line Of business and
likely to become interested, the uni.
form expression was, they were load
ed up at present, and that it was a
bad time to start an enterprise of
this magnitude, but in many cases
arrangements were practically made
to join the syndicate when tho fnan-
cial outlook should become favorable.
You can well understand that while
these gentlemen are men of large
means, they do not have it in the
shape Of idle money, but have their
means either actively employed or
invested in interest bearing securi-
ties, which have to be turned into
money when they start into new
enterprise. was convinced by
these facts that this was a hard time
to convert such investments into
money at fair valuation.
Were you present at the late meet
ing of the syndicate when the decis-
ion was reached to suspend opera
tons at present, as mentioned in Sen.
ator Camdens late letter.
l was-Practically it was not pro.
posed to suspend operations as you
term it, but simply that it was not a
good time TO commence doing those
things in connection with the build.
ing Of the road which involved the
outlay of large sums of money; but
they suggested that the W, P. &. c.
R. r. Co., was not yet ready to con-
tract with mysyndicate for the build
ing Of tho road, and that we should
go on and have the survey completed
and the right of way secured, so that
when the conditions were favorable
prompt action could be taken, con-
tracts made and the road quickly
built. | regard this as important,
for we all know that twice since this
project was started the road could
have been commenced if the present
organization had had its surveys and
right of way in shape to have enter
ed into contracts. And right hore /
want to say that it should be borne
in mind that neither Mr.. Camden
nor any ofthe other gentlemen who
are honestly and earnestly striving
to work up this project should have
the whole responsibility fastened up
on them. When a sydicatc is once
formed, themembers who put in their
money have voice in its direction
proportionase to their subscriptions,
and no one would attempt to force
gentlemen 10 do that which their
better judgments regarded as mop.
perfume.
Are the syndicate now furnishing
funds for thesurvey of the route from
Parkersburg to Point Pleasant, and
fol: securing the right of way?
Means will be furnished to com
plete the survey, audit is hoped that
the right of way can be secured in
some form. | do not understand that
the syndicate have now, or at any
time, undertaken to furnish the
money to secure the right of way.
That is to be done by the present
organization.
How soon will your company 60 to
work on the survey and securing tho
right OF way Des-,onn Parkersburg
and Point Pleasant?
We will continue the work IN a
short time. We are now arranging
for corps Of engineers for this pur
pose.
Will your company complete al
once the right of way negotiations
between Wheeling and Parkersbure