The Republican. [volume] (Oakland, Md.) 1877-current, 1910-02-24
TO PITTSBURG IN TWO YEARS
Mr.. George R. Gather Explains West
ern haryland'S Plans.

SuHDCIIdHu " NSW I1dNCli d.,
and the prospects of the bill now
pending in the Legislature to au-
thorize the company to finance the
extension, as follows:
Favorable report was presented
Friday to the House by the Com
mittee on Corporations on a bill
to authorized the Western Mary
land Railroad to finance the ex-
tension of the road from Cumber-
land to New Haven, Pa. While
new stock might be issued at par
without further authorization from
the Legislature, the plan of issu-
ing it below par, which is author
lied in the pending bill, necessi-
tates such sanction.
At a hearing before the commit
tee this morning Mr.. George r.
Gather said that probably SIS
600, 900 will be'issued, while the
opinion is prevalent that this will
bring from $50 a share upward.
The new stretch IS TO be 50 miles
long and will be completed, said
Mr.. Gather, in abont two years.
In days gone by, said Mr.. Cal
Their, the system followed in con-
struction new roads or extensions
had been to issue bonds and to
give stock as a kind of a bonis,
while the Western Maryland was
averse to increasing any prior liens
and believed that the road should
represent money actually invested
in stock.
I'VE want every penny put into
the road to be represented by ac-
tual property" sold Mr.. Gather,
Further, we have provided for
full publicity as TO the condition
of the property and the intrinsic
value of the shares, and shall court
and cultivate such publicity. The
actual value of a road is now often
considered in computing rates, and
this value will be accurately de-
termined by reports and records
which it is provided, must be fur
nished to the State.
That the proposed extention
will mean much to Allegany and
Washington counties in particular,
as well as to the State in general,
was the opinion expressed by rep
resentatives of those sections.
Said Mr.. Carl, of Allegany:
80 many and 50 great are the
advantages promised to Cumber-
land by the extension that it is
difficult to determine the most
prominent. In the first place, it
will put Cumberland onsano.her
trunk line, while it will also give
us additional competing connec-
ton with New York on the one
hand and Pittsburg on the other.
Further than this, it means an
investment of $4,000, 900 to S.
900, 900 in Cumberland and Ale
gany county in the next two years.
The Western Maryland already
has shops at Cumberland and
contractor is now at work on the
establishment OF an extension yard
on the West Virginia side, and
further expansion and consequent
expenditure of money will I'M
doubtedly be necessitated. These
are only two or three advantages,
without going into the possibility
of increased population, greater
circulation of money, added pros
perity for our tradesmau aud other
business interests, and so OH.
Mr.. Jacob NJ. Middlekauf, OF
Washington county, thus express
ed himself:
Some time will be required to
demonstrate the full benefits that
will accrue to Washington county
from the extension of the Western
Maryland and its connection with
the New York Central. Competi-
ton and consequent improvement
in rates will develop and our ship
pers will benefit proportionately.
The new road will bring us INTO
closer communication with the
great centers of the country, and
will also bring immediate benefits
through other channels"