The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1883-08-09
rHE o, =. '. q ". MArTER.
Mr.. Hoiiowsy's ReIoinder 20 Mt. Town
sends Plea.

70 Ae Editor q he hRaet0aaea:
sm:-1n last TharsdAy's 1sTRiticEseEs
was an article from Oscar Townsend, Receiy'
er Of the Cleveland, TuscsrawsS Valley &
| Wheeling Railway, rejecting upon you aud
myself. In the absence OF Mr.. Campbell.
now on a trip to the Pacific coast, the writer
Of the article that Mr.. Townsend Is pleased TO
call "stale Matter, ana to a large extent
false" 1 will answer for him, lest 1t n light DO
too stale for Mr.. Townsend before Mr.. Camp
BELLS return.
Mr. Campbell had the report for 1881, and
by some mishap stated the u~nexpsnded bal.
ancein hand " be sufficient to-psy interest
on the bonded debt; instead OF that the net
earnings for the year 1881 were more than
Sufficient to pay the Interest on the entire
debt and have a large surplus left
The report Of Special Ma ter Brieias Esq,
taken from the Cleveland Leader OF Msy24LD,
Is presumed to be official. Il Is the only re-
port we have had, and 1t answers Mr.. Town
sends assertion Of ''untruthfulness and un-
warranted statements."
| will AK Mr.. Townsend to turn TO the
official statement OF 1873, the year before the
Wheeling extension was finished, aud he will
l uuu tub ubb ukhEu Va thu tRNA
year to be In round numbers $3.50, 000. While
In 1881, the first year after the Wheeling ex-
tension was finished, the net earnings were
in round numbers S350,000. The mortgage
debt for 1881 vas 81 250, 900. showing the net
revenue would have paid the entire interest
and left $53. 900 OF a surplus, showinga bright
future for the stockholders.
1 am pleased 10 soy t at this money was
expended satisfactorily TO the Board, g ninoi.
lily Of which held q large p ftion OF the
bonds, In adding to the machinery and roll
ing stock, and thereby increasing facilities
for accommodating the increasing business
OF the road.
But Immediately upon the heels Of thii
most favorable showing, comes q demand by
those bondholders who were Directors &c
hsye o Receiver appointed. For what pur
pose was this, II 1t was not for the purpose o.
defrauding the stockholders on the Wheeling
, extension and fraudulently getting hold O.
nine hundred thousand dollars OF bonds and
coupons, the properly Of the company
But Mr.. Townsend was appointed Receiver
In whose interest WIS be appointed Was !
, to preserve this valuable property to thu
stockholders
Has be done this, or has he been acting II
the interests OF q trio tyndicate to gvbble NJ
the road2
flNe QUlOThDlb COuullo1tuutIot tuhu NhoA
there is none more upright, placed him taer'
to take care OF this property and keep Il
from being sacrificed, expecting him 70 keel
them advised Of its best interests. Did b,
do 1t? -,
MIR. Townsend does not deny that he said
"If let alone he could bring the road ont al
right, and save this magnificent property tt
the stockholders."
The public wants to know II he was '"lel
alone" II not, sho interfered with him
and why did he not save this property to the
, stockholders, knowing as he did OF its grea'
future2
: The gross earnings Of the road under Mr..
Townsend's receiyership were, from Febru,
airy 81, 1882, to January 81, 1881. In round
, numbers, one milliou and fourteen thousand
dollars. Now; IN all conscience, could he moi
have appeased the wrath Of Nj. Chamb= rlain
by paying the interest and u portion OF hi:
claim, he holding such doubtful collateral'
as nine hundred thousand doll'rs to secure
TWO hundred and ten thousand. and that a
seven per cert interest, when tue averagt
rate Is not over Ave?
!, Into whose pocket went the nine hundred
thousand dollars OF bonds and cupons attel
paying that little note Of Mr.. Chanberlain'.i
linn. Townsend will give us information BY
answering these questions for the deeply
wronged stockholders at this end OF the
road, and will not give exhibitions OF his bad
, temper he will confer q favor. III necessa'
ry he may hear from some OF US again.
W. W. HOLLOWAY.