Cleveland Past and Present: Its Representative Men: Comprising Biographical Sketches of Pioneer Settlers and Prominent Citizens
History
Cleveland Past and Present: Its Representative Men: Comprising Biographical Sketches of Pioneer Settlers and Prominent Citizens
Cleveland (Ohio) -- Biography; Cleveland (Ohio) -- History
None of the roads were built under these charters. The financial panic of
1837 swept them all into oblivion, together with a multitude of other
roads projected throughout the country. Some of them were heard of no
more, and others were revived in after years, the charters greatly
amended, and the roads eventually built. The design of the Cleveland,
Columbus and Cincinnati Railroad Company was eventually carried out to the
extent of building a line to Columbus and there connecting with railroads
extending to Cincinnati. The Cleveland, Warren and Pittsburgh charter was
dug up, amended, and made authority for organization of the Cleveland and
Pittsburgh Railroad, whilst the original route was mainly occupied by the
new Cleveland and Mahoning Railroad.
The Cleveland and Bedford was at last rendered unnecessary by the
Cleveland and Pittsburgh passing over its route, whilst the Cleveland and
Newburgh reap-pears as a street railroad, for passengers only, the
original design of a local railroad for freight being abandoned thirty odd
years ago.
In 1845, the lapsed charter of the Cleveland, Columbus and Cincinnati
Railroad Company was revived, revised, and a new company organized, with
John W. Allen, Richard Hilliard, Jolin M. Woolsey and H. B. Payne as
Cleveland directors, and John W. Allen as president. Between the
organization of the company and the construction of the road there was a
wide gulf of difficulties, jealousies and enmities, bridged over at last
by untiring perseverance and unwavering faith in the final success of the
undertaking. The story of the struggle is told incidentally in the
biographical sketches of those connected with the enterprise. All that we
have to do here is, to briefly sketch the leading features in the
narrative as it has been already told, after a careful examination of the
documentary history of the company. That account says the incorporation
of the company had been obtained in the year 1845, with a proviso
authorizing the city of Cleveland to subscribe two millions of dollars to
the stock. The bonds of the city were promptly given, but before any money
could be obtained upon these bonds it was necessary that a further
subscription should be made by the citizens, not only to meet the current
expenses, but to give assurance to capitalists abroad that the people here
were really in earnest, and would not suffer the undertaking to fall
through. After a thorough canvass of the city, by two well known and
respected citizens, it was found that not more than twenty-five thousand
dollars could be obtained. There was both a scarcity of cash and a lack of
faith in the enterprise.
Public-domain text, read in full here on John Shaqi.
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