Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1892-07-10

ing service has also been very far from
what 1t should be, aseveryonein Wheel
ing having occasion to visit that end OF
town we'll knows. The new manage
ment propose to remedy all this and
place the road upon the very best
basis, but in order that they may do so
some agreement with the local stock
holders will have to be reached, and
that speedily. OF course, in transac-
ton OF this magnitude, involving so
many varying interests, 1t is somewhat
difficult to secure unanimity upon any
thing. Some holders Of stock bought at
from ITO to $50, originally, and they
naturally are somewhat averse to let
ting go at 20, and in addition there was
a noticeable under-current of express
sion yesterday to the effect that the
road ought to be allowed to go into the
the hands of receiver and be sold out.
This feeling Is not extensive, but 1t ex-
lists. One prominent local capitalist
said yesterday he would be willing to
go into a syndicate for the purchase OF
the road,
OF the new owners OF the controlling
yesterday evening except Mr.. Cham
pion, leaving their interests, as regards
the resident stockholders, in the hands
of Messrs. L. G. Stifel, P. B. Dobblns
and Judge Jacob. All the gentlemen
are expected to return Tuesday, how
ever.
Mr.. Champion, the legal advisor OF
the out-of-town capitalists, was seen
last evening, and said;
Gully one-half of the stockholders
have accepted the seventy cent PROPOSE
ton, and the remainder have until
Tuesday noon to do so. Nearly all OF
the large stockholders have accepted
this new proposition. 1t has been the
general idea that the original plan,
made at the meeting Thursday, OF an
assessment of $3.50 per share is still in
operation, aud that stockholders could
come in on that or the seventy
cent plan. This is not so, as the plan
suggested at the stockholders meeting
has utterly failed, it being conditional
upon the assent of nine-tenths Of the
stockholders subscribing to 1T. So
really the only proposition Is the sew
envy C60G plan. no ldblOI 10 a. kOhOA-
Gus one, more than the stock is worth,
as can be see by the fact that the out
standing liabilities are more than $685.
600, and are accommodating at the rate
of SIS day for the fixed charges. The
new stockholders from outside want to
act In a generous manner, but without
the responsibility of carrying the road
through for the benefit OF the local
stockholders. They came here In the
utmost good faith, expecting the active
cooperation OF the local stockholders.
They were disappointed, also, in the
condition in which they found the IL
nances. II they can't meet with prac-
tical unanimlty, on the seventy cent
offer, the creditors OF the road will be
permitted to take their course, which
means judicial proceedings, the sale OF
the road and the practical destruction
of all the stock. These proceedings are
being held back by the creditors only
in the hope that the present plan will
succeed, Papers are being prepared by
the creditors for bringing things to
crisis very shortly. Citizens of Wheel
ing should look at the matter in a local
as we'll as in a financial light. Should
the road be seized 1t means long de-
layed improvements and a worse condi-
ton in the end than now exists"