Daily new dominion. [volume] (Morgantown, W. Va.) 1897-1906, 1899-05-31

| time giving the shipper on the short
road as low rates as if he were on
the main line Thus the new road
will start off upon the most fayora
BILE basis, and upon terms that the
Kingwood and Tunnelton Road did
not secure till the beginning of the
present year.
| CAN THE NEW ROAD BE BUILT WITH
OUT LOCAL AID?
1t does seem possible, in view of
the fact that from the time when
Col. Nemegyei attemptee 25 years
ago to start the Black Bottle, in or
der to get his iron, coal and coke to
Pittsburg, the effort has been re
peatedly made, the route often sur
veyed, coal options S. per acre ten
dered, and timber lands, at cores
pondingly low figures offered and
the route, resources and country re-
peatedly examined and inspected by
capitalists. Every time the effort is
made to get others to build the road,
the question is propounded by the
nonresident capitalist, why will
not your own people put money into
this enterprise, when they sotH be
chiefly benefted?' If all these re-
sources which seem so many and so
valuable and so easily developed
have failed to enlist the aid of non
resident capital, and if the foreign
investor still insists that we must
do something for ourselves, and
show our good faith and our belief
that the road will pay, it is unwise
to longer delay, and hopeless task
to look to others for help when ace
eotH not help oarselUes.
Will less than the $45, 600 asked for
! be sufficient?
That amount is the least that will
do. More would be better. Less
would not secure the road. That
amount, with SIS, 900 from Valley
District and private subscriptions al
ready pledged, will make absolutely
certain the building of the road at once
nothing less will.
Do we run any risk that the money
may be spent and no road built and
operated?
None. Read the Court order and
see how carefully that matter is
guarded. Two miles of road must be
built, equipped and actually IN opera
ton, and cars running before any bonds
can be called for, or delivered, and
then only $4,000. To build, equip
and operate this first section will re-
quire over $40, 900. The Railroad
Company must advance this sum for
work, materials, rails, ties, rights Of
wayfur which latter one party is de-
manding $500 or at the rate of about
IS, 900 per mile) locomotive and cars,
before it can ask for the "a, 500.
1t must build, equip and operate
the whole / l miles in Morgan district
before it can receive one half Of the
subscription, the other half being
payable only when the l miles is
completed and in operation.
This section of ! | miles, with equip
ment, will require an outlay Of at
least 800, 900 before the $751; can
be called for. Certainly after that
amount has been invested, the enter
prise will pot be abandoned
What will Valley district do?
Everything depends upon what
Morgan district will do. In Valley
district there were 200 votes for, and
l59 against clear majority Of Al,
and new election ordered to be held
one week after Morgan votes. Already
enough votes Git requires change Of
only 16 votes) have been pledged for
it. to give the necessary 3-5 majority.
Without both subscriptions it will be
almost hopeless task u attempt the
building Of the road.
What interests will the districts
have in the Railroad Company?
i They will hold $50, 900 of st ok,
and will always have proportionate
voice in its management, and in it's
Board Of Directors. Tile districts
will h I'D preferred per cent diyident
bearing stuck, and all other stock will
be corlm IN stock and take no part of
tie earnings of the real, till after the
preferred stock Is paid its dividends.
Morgan district will have eleven
mill - 3TG al he added wealth
it will bring upon which it may levy
all its taxes and ST. reduce the rate If
tax on all other property. 1t will
also have the benefit of all the money
put in circulation in the district while
the road is being built. 1t will have
the increased population which steady
| am nj ovmauf will certainly briuU