The Calhoun chronicle. [volume] (Grantsville, W. Va.) 1883-1984, 1896-07-14

A-A1AiA ll1,s.' "''u III MS issue, &c VIII
he seen that the County Court has sub.
United to a vote of the three river
districts. the question Of subscribing
To- the capital stock Of the Little Ka-
nawha Railroad Company. corpora.
ti"n composed Of some of the best
business men IF Parkersburg, includ.
ing G. II Shuttuck. President of the
Citizens National Bank, II. G. Jack
son, President Of the II &. Jackson
Company, a. Il. White. f. w. Me.
Creary, w. II. Wolfe, Cashier Of the
Second National Bank and many 9th
ers whose names are not before us, for
the building Of Standard guace
railroad from Purkersburg To- Burns
vile and passing b miles through
this county and dividing The districts
of Sheridan, Center and Sherman
almost centrally. The amount asked
from Sheridan $1,000. and no part of
It Is to be paid either in money or
bonds until the road is completed,
with cars running! to Brownsville.
Center district is asked to contribute
$500, payable only WIN cars are
running to Grantsville, and sherman
district Is asked to give $4,000, payu.
BILE when the road is completed and
cars running TO the Gilmer county
line. These subscriptions are proper
tomato to the taxable wealth of
each district and also to the
number of miles in each district, Sher.
idan and Center having about ten
miles each, and Sherman about
twelve miles. Under Il decision of
the Supreme Court of this State, nf-
firmcd by the Supreme court of the
United States, IL railroad company is
compelled to pay taxes ON their roll
ing stock and road b =! to the same
extent Rs other properly owners.
And rs this road is to he IL standard
guage road, the rate of valuation per
mile for taxable purposes will not he
less than $4,000, which is the average
value for taxation in this state. This
would give to Sheridan and Center
districts $50. 900. And to Sherman
about 81, 600. of additional praper-
ty TO tax. The rate of taxation in
these districts is, for Teachers, Build
ing and Road purposes SI15, saying
nothing about the rate for County
and State purposes, which is about
SlOO moIe. This would give TO Cen.
ter and Sheridan district for district
purposes atone $3.50 in taxes. while
the interest on the Sheridan bonds
would only he $3.50, and the total of
principal and interest, would only he
1905 per year, and the interest Oh the
Center bonds would be $500 and the
principal and interest would be only
300 per year Sherman district
would pay in interest 1870 per year,
and would receive in taxes 1928, and
her principal and interest combined
would be only S7l6. 1t il thus shown
that as to Sheridan and Sherman dis
trlcts the railroad would actually pan
M district tGreS alone considerably more
money than the districts would have
to pay out. And il. the case Of Cen
ter district, the railroad would only
lack 80 per year of paying both prin-
cipal and interest. In addition to The
above figures the County levy, at the
present rate, 20 cents, would raise
from the road bed which for 80 miles
would amount to 1892, 900, the sum
OF 81 ,344--which would go into the
general county fund, and the three
districts would, Of course, participate
IN the benefits received therefron.
A railroad up this valley would quad.
ripple the wealth and population, and
thus to that extent diminish the tax
cs to nc paid by each person on &C.
count of the railroad, 20 that il is AN.
parent to any person who will take
a pencil and make few figures, that
1t Is to the financial interest of every
voter in these districts to support the
subscription, to shy notniug of the
benefits to be derived by having a
railroad through the county. The
bonds only bear five per cent interest
and the principal does not have to be
paid until tho expiration of 80 years
unless the districts see lit to do So be-.
fore that time. There is but few
counties in this State without a rail.
road. All around US are roads which
are developing the resources Of the
country, and wc can not longer get
along without one We are getting
oIh and gray and have long bopcd To