Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1885-02-15
PllNIy Of AoOM
lcossnasd iron First paseI

AANA ~ UAH -
Is q ismny 1e'V' - ara said to be
- Rasd Ia Ia say the
very reasonable VA sS,sr,;semeut
least an sAse 49,
Tor DIS Doarulng s L., ..,ho,;ty that oil
ltis ststed On .no - ! rool Ia nc.
these hotels have eneetsa ruless
eePt no guests ioT INC - a, their
they a up sof ,bam tor
rooms, tnoegn lnSh .,om "a 10
oniy one night in
Sie per Gay.
- -
- coms here have been very for
tnns,a TINS far, in securing seeomnoda.
n"s prob.nIr there IL no more marked
$50 e .nrs lncf However. than that of the
eGa .sh;ch DELAYED making
nr,;l The nresent week.
s M 1870 n cbsrteriug the Har-
int uons9 smsH bo.el on "E' Street, the
nr,r S;ssdvsntage of which. is that it is
Iors,,5 on q s,reet which is known among
r. ola re.;dsn,s oftbis city as Rum RoS.'
RI no. no a difference Of opinion AS to
- 80 - really a disadvantage
- :, RaruhI;csns have been in the
-, - aionm;ng that the latter is
ha
There can be no doubt, from present ap-
Des,snces tLst the inaugural ceremonies
I'll hr;ns At least so 600 guests 10 Washing
,"n hn, @ inc IN the condition of the seuIl-
49,. ~ us;dsn Wasb;nutopians. above al.
InSa5 81 ,bsra Is mn doubt that they will all
he ,sksn core of II will be the part OF
J,n.a,;nr bouevpr for every man to come
~ ~ n,oIo,s yell 6Iled unless he has re-
WIN 20 o;,D ~ Ill Iook ont for him
"0n'
The racine Haiifo"u'
The Pacific railroads are likely to take
up q part Of the remaining time Of both
Houses OF Congress. There is q question
as to the necessity on the part of the Gov
erument for some action which will ensure
the payment Of the immense sums, or the
principal and accrued interest now que 70
Uncle Sam from the tour ROADS ana rsP'a.y
increasing in smount. The Union facinc
road OWES $S0,la2, O90.49 the Central ia,
cife $l6.55I045.lf; the SIOUX City ana
Pscifc $3,59,lIS 81, n the central oranea
OF the Union Pacihc S3,oIo, 4ooVo acGor1'
ing ioihe report OF the COMMISSIONER nsi''
roads, dated on the hrst OF last november;
Tie railroads are bound under the law OF
1878, TO pay into the sinking fund applicable
10 the payment OF the prnc'pai
of The debt, a sum equal to hve per cen.;
Of the total net earnings OF taelr sIos,ui Iss
lines. But two alnceities nave Ieen Ir
covered In the operation Of this law.
rhe hrst place the roaus "nlcn nave u.I
Ibis control portions Of hnes not suosiu,Heu
make 1t a point to divert trailG as macn a.
possiDie, from thelr SUBSIDIZED Nhes Ia
10 iessen ihe amount 'nat must VIC pau I've.
othe sinking iGho ana In 'ne secoau P1aGe
t has 6een aeciuea th"t LiS u -
liable Tor the nrSt mortgages ueoS
OF the companies as wen
as Tor the SECOND mortgage mems WHICH tue
government holds. The result Is thst the
eported net earnings are very o. ana tns'
The fund growing very strong y does
would be no adequate protection to the
government even were it to amount to
enough 10 settle the government debt al
maturity. The FIRST mortgage bonds OF
these four companies having priority over
the government debt amount TO over sixty
nine millions of dollars, not including in.
terest, 80 that if the first mortgage bond
holders were to foreclose there would
he q total bonded Indebtedness rest
ing on the roads Of about one
hundred and forty-three millions Of dol
lars counting the sinking fund as money
paid over. The government would have
only one way OF protecting Itself, and that
would involve the payment in cash the sixty.
four millions due to creditors having prior
ity leins and the purchase of the roads in
question. That, in brief, is the way the
matter stands at present.
1t is too late to question the policy ofsGb-
sidizing railroads, or to lnvelgh against the
legislation which made these state oil facts
possible. The Republican party is as proud
of this legislation, with all its its defects, as
it is Of anything in its history, Undoubt'
eddy the subsidies did more to develop the
resources of the great West than anything
else could have done. In a sense 1t was
necessary Certainly 1t was eXpeedlent to
take the course that was taken, but II is
easy to point out now the flaws that have
been revealed by the hight OF twenty years
experience II the treasury were to lose
every cent OF the money spent In subsidies,
the country would still be the gamer by the
bargain. At the same time our law makers
do not propose TO act in such a way as TO
exempt the roads from the payment OF their
debt, and they would be taking leave Of
their senses if they did. 1t is
merely r question Of the method
to be pursued by the National
Government. Shermau's bill on the sub
ject is one founded on the .6rtiter in re
Sudretcr in modo principle. He would COM
pei the roads TO pay a fixed amount each
year into the sinking fund instead Of a per.
~centaVe Of their earnings, and would enforce
more Tigidly the payment of interest, bat
would do nothing TO break the roads down
He thinks that harsh legislation at the pres
nj ume "PuI1 nave Tue snect .. mas;ng
mPoss'oLo io[ Tue ra.toaas 70 PnS 'He I'm. e
s' On ahe't nrst Thymisssss 0o .Lus ~ O.
orcc osure ETItu ioiio. anu thai tIe uo.
GTnIQe0L NOulu Ut DTGtlDlldltll Cdtlcl upDU