The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1884-02-26

Aao SouAsaeo tA'oukh WAish wa iuA
the proposed narrow gauge railroad from
Glenvillo to the Ohio river are very much
In earnest. The whole community has
been aroused, and there Is somo prospect
Of striking the river at two points, one
branch running from Spencer to Rsyens.
wood aud the other from Spencer to Par.
kcisburg. The people are agreed that they
can not longer afford to be without such
facility, and thoy give every evidence Of
willingness 10 subscribe literally to the
company's stock. From these evidences
Of q desire to cooperate 1t may be inferred
that the people Of those counties intend to
give help tina! will be helpful, not to ex.
tend tho shadow Of aid without substance.
The proposition to subscribe 100000,
upon which the people OF jackson county
will vote May 18th, contains the proviso
that the road "shall not be %mortgaged, sold,
or in any manner disposed OF by said rail-
road company" Tho order Of the County
Court has been drawn with great care, as
such orders always should be, but this
proviso is likely to defeat the good intent
OF the County Court and OF the people for
whom the Court acts. 1t is improbable
inieed It may be regarded es out Of the
question-that tho road can be built with.
out mortgaging il. The subscriptions 81
the counties will not suffice. Add the pri'
vate subscriptions in those counties and
still there will not be enough. 1t Is not at
all likely, nor ia it expected, that the
money requiredt to construct and equip the
road can be secured in the State.
It will be necessary to 80 outside
among men who have money to invest
and who do invest money III railroad en-
terprise,. Those men will not take tbs
stock Of tho company; they will want the
creates! security they can gel; and if they
can he induced to invest at all they viii
want the bonds Of the company. Bonds
mean a mortgage. II the road can not be
mortgaged, it follows that in all p~robabili'
ty it can not DO built.
We can not expect that foreign capital
lists will take anything on trust, and VIC
may be sure that they will not be moved
by sentiment. Neither will they care
greatly whether the road pays dividends &c
long as it pays the interest on its bonds
This, to be sure, is a coldly practical view
but 1t is the view that coldly practical mer
take Of all such matters. It is believed BY
those we'll acquainted with the territory
through which the road will pass, and BY
nobody more firmly than by the people
who inhabit that fine region, that the roat
will not only be able to bear reasonable
interest charges, but that it will begin al
most at once to pay satisfactory dividend
on its capital stock. But stock, howeye,
promising, is not what outside capitalist
are seeking; and why should they, whe1
they are being sought every day to tax,
the bonds Of companies quite as promis
ing7
at least one other county has tied up it
subscription in the same way. Having al
interest in the development Of all Yves
Virginia, unwilling to see any good enter
prise halked in its progress by an impracti
cable condition, the INrELL1aENcRR hope
that the counties will reconsider this pro
viao, 80 that their subscriptions may avail
something after the people shall hav,
voted in favor OF them.
II may be taken for granted that outside
capital will have bonds or it will take nj
interest in the enterprise.