The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1890-06-28

80 49, " AANSA"h ~ 1S%NS A@asN AsaAANaNt
now within eight miles OF Wheeling,
coming to this city without any regard
to what may be done to bring it here?
Or are misrepresentation OF the railroad
company frankly declaring the compa.
ny's determination when they say a
stock subscription Of 500, 600 is the price
OF the thing We have so long and 80 ar
IDENTIFY desired?
These questions are not easy to IN.
swer. I. may be that the road will come
anyhow, because there is good business
awaiting it here. II the enterprise
were OF less importance to US than it
is We might take the chances. In mat
ter Of go much moment to this commu.
nifty the last thing we can afford to do is
to take the chances. Wheeling needs
more railroads, and she needs especially
this particular railroad for its benefit to
our manufacturers and TO our jobbing
and retail merchants. Ii it be true that
we need the new railroad, it remains
only to determine whether the price is
fair and whether we are able to pay it.
Individual subscriptions having fallen
short OF the required amount, it is pro-
posed that Ohio county, which is SUBJ
stantially Wheeling under another
name, shall subscribe to 100000 worth
Of the stock Of the company to be paid
when tho company shall have spent
within the county like amount for ter
minal facilities. None of the money is
to go into the construction OF the road.
The price is not unreasonable. The
money would remain ut home in form
easily reached for taxing purposes. 1t
is the custom to discount such sub.
scriptions as gifts, but it should be borne
in mind that in this case the subscrip-
ton would DO to stock now bringing
in the market forty cents on the dollar.
The subscription would have, there
fore, a market value OF $4,000 at the
start, and the Gay the road enters Wheel
ing its value should be very much
greater.
Ohio county is able to pay the price;
and this may be done by an issue Of
bonds for the purpose, or by tho sale Of
the county's holdings in the Pittsburgh,
Wheeling & Kentucky road. 1t is true
that those holdings are good invest.
ment, but when the money was put into
that enterprise it was not with a view to
secure good investment but to bring
to Wheeling a much needed railroad.
The double success Of the venture yindi-
Gates the public judgment.
The interest OF Ohio county in that
road represents present market value
OF about Sl40,G0O-S40,000 more than
enough to secure the Wheeling & Lake
Erie. AS business proposition Ohio
county needs the Wheeling & Lake
Erie 100000 worth; she does not need
to hold fast to the Investment in the
Pittsburgh, Wheeling 4 Kentucky. 1t
would be good business to take the
money out Of the enterprise which it
was intended to help, and with itinsure
another railroad Of importance hard to
exaggerate.
The lNTELLlcESCEn is convinced that
this is the best way to provide the money. |
Rather than run the risk OF losing the |
road loan should be made to raise the
money. The County Commissioners will
doubtless be glad to counsel with citi.
.sns as to which plan shall be adopted.
The essential thing is to make sure of
landing the Wheeling & Lake Erie in |
Wheeling. The sooner the better, be.
ore the new road gets switched of in
mother direction.