The new dominion. [volume] (Morgantown, W. Va.) 1876-1904, 1895-07-13
COMING into WEST VIRGINIA
EXTENSION OF THEP.Y. & c. ROAD
PROBABLE.
The Company NegOtiates a Six Million
Dollar Loan Presumably for that
Purpose.

Purpose.
Uniontown News Standard
The Girard Life Insurance, An
nuity and Trust Co, Of Philadelphia,
on Tuesday entered for record in
the register and recorders office
here a mortgage for $6,000.O0O
against the Pittsburg, Virginia d
+ Charleston railroad company. The
mortgage is given to secure bonds
issued by the railroad in payment
of a loan of six millions made by
the Girard company recently. It is
specified in the mortgage that the
Trust company will hold the bonds
in trust aud sell as many Of them as
possible The bonds will be made
in two issues, 100000 of the first
issue and 100000 ofthe second and
are interest bearing.
There is a good deal of specula
ton as to the object of the compa-
ny in negotiating such a large loan
at this time, but the general opinion
is that an immediate extension into
West Virginia is contemplated
+ Part of the loan was used to satisfy
a mortgage of 100000 held against
the p. V. q G. by John p. Green and
Strickland Kneass, trustees. This
mortgage, which has been running
several years, was satisfied yester-
day. The question is, What is the
company going to do with the bal
ance Of the loan? Hon. J. X. Ewing
who is director in the Southwest
railroad, a branch of the p. r. r,
which controls the 2. v IL c. branch.
when interviewed by News Stan
dard reporter this afternoon said
that no definite action has yet been
taken, but he supposed that the
loan means the extension of the road
into West Virginia. The p. r. r.
has a lease on the p. V. IL c. and
besides this holds majority of the
stock in the latter company. Con
sequently the p. R. r. would have
charge of the extension. Mr. Ew-
ing said SO far as he knew the com
pany had not taken definite action,
though the matter had been fire.
quentlv discussed at the p. r. r.
meetings Mr.. Ewing said the com
pany possibly negotiated the loan
for the purpose of making other i'm
provements, such as double tracking
their road from Pittsburg to Browns
vile, etc. but admitted that the
amount is pretty large for that pur
pose, in fact larger than would be
necessary.
The p. V. d c. has for several
years contemplated the extention
of their line up the Monongahela
river. The rich mineral and timbsr
lands of West Virginia, as well as
the coal, oil, gas and timber regions
which the proposed route would tap
in Fayette, Washington and Greene
counties, have been very. inviting.
The eXtention of the great rival, the
b. d O., which was long threatened
and at last completed into the same
region was a powerful incentive.
Several years ago the right of way
was secured up the Monongalia on
the Greene and Washington county
side. The route was surveyed last
year but nothing further was done.
In fact nothing could be done last
year, as the directors Of the p. V. IL
c. at their meeting in January, 1894,
agreed not to make the extention
last year. 1t is possible that the
extension will be commenced this
year, The p. r. r. has long been
DESTROYS of getting a southern outlet
into the rich West Virginia mineral
and timber territory. The p. r. r
and the B. d O. have both kept their
eyes on that rich storehouse of ma
ture and each has been anxious to
head the other off at every turn.
The route of the proposed extension
lies up the west bank of the Monoa-
gahela and is said, by railroad en-
gineers, to be better location than
that selected by the B. & O. on the
other side of the river There are
more valley lands on the west side
and consequently there would be
fewer cuts and fills. In addition to
this the road would not have to
cross the river to get into Fairmont
as does the B. & 0.