The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1883-04-24

Bearing interest at per cent, couponi
payable semi.aunually in July and Jan
uary.
The amount oil funded debt Of the com
pany, mortgage bonds negotiated and held
by parties both In and out OF the State, ID
$97,900.
From the foregoing statement 1t can
plainly be seen that had the full amount Of
the authorized capital stock been issued,
there would have been no necessity for
any bonded debt, and It will further show
that had all the stock that was subscribed
been paid in, the bonded debt would nee.
essarity have been small, probably not
more than thirty to fifty thousand dollars,
the bonds would have sold at par from the
start, and dividends would have been paid
on the stock; but unfortunately the
company, having failed TO collect the
delinquent subscribed stock, which
seemed to be uncollectable from
various causes, the company was then com
PEELED to sell bonds at the best price they
could get to enable them to complete and
equip the road. It Is well known that at
this time the road was q skeleton, without
ballast and but partly built, and number
Of executions against the company in the
sheriff's hands for collection, and some
large claims for engines and other rolling
stock, equipments, &c, and land damages
remaining unpaid, and the want Of har-
mony among the stockholders and direc-
tors, it Is wonder the bonds brought any.
thing, (which seemed TO be verified to some
extent as no parties unaequainted- with
people here were found willing 10 invest in
them at any price, although they were ad.
vertised in several newspapers to be sold as
low as fifty.five per cent But the bonds,
through the necessities Of the company,
had to be sold at some price, and at q time
whenl:no one bad much confidence in the
ultimate success OF the road, 1t made 1t
hard work to get bidders for them. In
ducements were then held out to capital.
lists by friends OF the enterprise to come to
the rescueand help the company complete
and equip the road. Several men OF means
were induced 10 invest in the bonds. al.
though they were sold ct sacrifice, 1t
enabled the company to push forward the
work and make the enterprise q success,
aud we must say In commentator Of these
gentlemen, since that time they have gone
on obligations and become individually
liable for the debts OF the company in or.
der to help 1t succeed. Surely these bond.
holders deserve some Of the praise for their
good will. ACTIONS" 1t Is said, speak
louder than words" "
The earnings Of the road for 1882, In
face Of the drawbacks, amounted to s42,-
52707, a fair record considering the length
Of the line, some twenty.sevsn miles. OF
this 81, 1920 was derived from passenger
travel and s20,541.1 10 from freight When
It Is known that the road runs through .
more thinly peopled country then the va
rioug projected lines Of similar nature in
West Virginia, the encouragement to the
agitators Of narrow gauge roads in our com.
monwealth is twice as promising as it was
to the persistent people Of Greene county
who insisted on having an outlet TO the
tratliciug world. In the few years Waynes.
burg has enjoyed railroad facilities, the
improvement Of the town and the increased
valuation OF property, and the impetus
given public and private enterprises have
fully repaid the outlay, and encourages
other communities pining for the same
al va rams ant IN follnw har aYamnle