Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1891-04-30
THE NEW RAILROAD
JUDGE COCHRAN ADDRESSES TRE BOARD OF
COUNTY COMMISSIONERS
And Asks -tr tie Appointment Of Conference
Commiues-A Subscription asked for,
70 AID the PROJECT

A committee II the incorporators OF
the proposed Wheeling and Councils
Vile railroad appeared before the Board
of County Commissioners yesterday
afternoon, at O'Clock. The committee
was composed OF Judge R. Il. Cochran,
Frank Hearne, Joseph Spiedel, WIN. Z.
Hubbard aud W. \. Lynch. There
were present in addition TO those gen.
temen, Messrs. George Wise, j. y.
Vance, W. A. lsett and Cecil Robinson.
Judge Cochran was introduced 10 the
Board, and made the following state
ment OF the wishes of the incOrDoratorS:
Our object in appearing before this
Board can be stated In few words.
sumOerO OF gentlemen in this city have taken
out "a charter for the Wheeling and Con-
uelsvilie railroad. This step has been de
laved until we could ascertain reciprocal
feeling among capitalists in me East. Inc
iucorpOratOrs held q meeting al the ONCE
of the Riverside Iron Works, Monday
evening. and appointed a committee 10 con
fer with a committee which they respect
fully ask YOUR body 10 appoint In regard TO
a subscription which is asked Of ObiO coun-
w. 10 is proposed 10 issue traffic bonds,
receivable for freightS in the hands OF any
shipper. and upon a basis which the incor-
poratOrs believe will guarantee at once
-. OOuOOO Of freight traffic % the road. We
have rect lived the promise OF the assistance
of Eastern capitalists who have been MOI
than pleased with the falr manner
ia which they have been treated oy
the city OF Wheeling and the unanimlty
with which your city subscribe 10 the cap
ital stock of the Terminal Company, with
the result that they invested double the
amount of money Origina ~ Intended We
ask for subscription Of 500, 900 from ONO
county. We hone. by next Monday al the
latest, 20 present some matured plan for
action by your Board OhiOcouuty will be
safe. and the subscription will be put In
good shape The details will be gone over
by the Board when YOU have more time
~ far as we have been able TO learn there
is d. practical uuanimity of opinion in favor
of the SUBSCRIPTION by Ohio county
The gentlemen were informed that
the committee would be appointed, and
departed. Upon motion OF Mr.. Blaney
President Cruise was made member OF
the committee, and later that Official
appointed as the additional members
MeSsrS. Blayney, McGregOr, Mckinley
and Hall Mr.. Mckinley moved thai
the committee be empowered TO employ
counsel II il deemed legal advice neceS
Sary. The motion was carried.
The two committees will probably
confer this evening, as it is the desire
of the railroad people to lay their propo
sltion before the Board as soon as posi-
BILE. Ia order that il may be acted upon
promptly.
Judge COchran'S plan OF issuing traffic
bonds is "a new one here, and If accept
ed 10 is believed that il will place the
.cOunty'S subscription on a better basis
than by any proposition which has here
tofore been rendered to the city OF
county.
The proposition Of the Wheeling and
Counellsville Railroad Company is in
substance as follows: Second mortgage
bonds TO the amount Of the county''
subscription will be issued by the rail
road company. These bonds, called
traffic bonds, may be sold by the county
to local manufacturers aud ship
peers doing business with the
railroad. who will be permitted &c
pay with them 10 per cent. Of theli
freight charges For example, manu-
facturer receives coke from Connells
willie. upon which the freight charges
are -. 600. He buys ten per cent OF
thiS amount. or 500, from the county,
and receives traffic bonds for that
amount, which are turned over to the
railroad company ia part payment OF
his freight bill with the balance in cash
Thus 10 will be- seen that with the co
operation Of the local manufacturers
ldud shippers the county will in the
course of time receive the entire amount
of the subscription and interest. i
500. 600 worth of the bonds are solo
annually the subscription and intereS
wll, boz paid iu five years. On the othel
hand, the railroad is also benefited, io'
tine reason that the county'S SubScrip
ton 0f $500. 900 is guarantee Of
traffic business OF $500, 900 BY thi'
scheme the railroad is assured OF an I'm
mense business from the day 10 oDen'
tbe road IL does not take long head
to divine the advantages OF this plan Il
I'm. railroad. The ease with which IL
could float It's bonds would be great!
Increased