Lynchburg daily Virginian. [volume] (Lynchburg [Va.]) 1852-1861, 1852-12-20
letter from Col. Garnet.
LyAcnnrna. Nov. -, 1882.

% sou briefly The condition 81 the Virginia and
| Tcnue-s 2niiroad Company, and other mat
tiers cont cf1iog tie value Of thcirfo4d
tn present c,pfal offhe company Is So
900 900, 81 - b.ci the State 'akes ihieetif hs,
tcire three ,'hrs 81 cFery rwo fakcn BY m
ldiyidaal stocktol lcrs; ond there nj oHly %
! 900 wanted IN complete Ire capi al. The sum
noces-aty Ia com lae and equip the road Is
| 81. 900 900. and tn excess above tie c,pIt4l
| is To he provided ioras ol.n"s:
/ Tie stockholders. at Their recent nnuu
meeting, authorized the board OF directors 20
issue six per cent. coupon bonds. rcdeemable
il twenty yelrs, tn interest To be pa d III Now
Yorl. anI the principal payable in iynehburg
TO secure the punetua pigment Of tncPlinp-
pal and interest ofaby bonds issued under tins
AUTHORITY ihc stockholders have agfeed to
mortgage the entire road and property Of tlre
company costing S 800 600 and The nei prot
rs oflhc road are liedg' d for the payment Of
tho six per cent. interest. and Tor LAYING aside
one per cent. on the debt, rs sinking fund
The board Of directors have also the power 10
make these bonds convertible into stock with
in limited period Already contracts have
been nude with responsible parties for com
plotting the graduation OF the road, laying the
superslructafe, and furnishing the cars which
are deemed necessary in addition to hose al
ready ~ u.c aud ordered. These contracts
amount 10 hal a million # d,liats, mud are
payable in the above bond at fair cash prices,
ihc same prices heretofore paid III cash 10 the
same p1ries. There's now nothing wanted
TO complete and equip the road fully but 49,
600 tons olron rails.
To purchase these, application will be made
TO the Legislature to loan the company
>l,000,000, and there is every reason IL feel
confident OF this being DONE as the most ample
and undoubled security viii be given to insure
the State against al possibility Of loss. This
VIII Together with the contracts atrcady men
toned make the 81 800 900 Of loan autAoriz d
by the stockh,llers.
The whole length Of the road will lie POI
miles, aod although II crosses the Bluc Ridge
aud Allegheny mountains it is more direct
with very few cXcep'Ions) than any road in
abe Union. 1t is only - miles longer than an
air line b,ilg loss Of distance OF only II 81
100 per cenl
There are ITO aS-lOO milr, Of straight line,
aud thcrc are % 81 100 hi, Of curvature Of
large radli; never less i.on 1874 fret--there Is
no very obieclionable curvature on the road
The maximum grads are &C feet per mile;
descending IN the direction Of the heaviest ton.
! dIettou
Al the heavy work is flushed The grad,
ing Of the first 72 miles Is completed. and Of
the neXt 63 miles, four fiihs of the grading is
done. In few months the entire road bed
viii be ready to receive the superstructure as
far as Wyihe, lie. 1876 miles from Lynchburg
Much work has been done beyond Wythe
vile, and the whole is ulder contract II the
al, III ~, I,s
nt once, So that the delivery may commence
in Ma:ch, there will bc 10 difficulty in putting
the whole road IN operation to Wythcyille IN
all Of lS53--and 10 It's Southwestern terminus
in al Of 1851. The iron now purchased is
only sufficient to complete 70 miles.
Tho superstracnre is now laid and the cara
are running So mi!rs and the road will be
, opened To Salem, 81 miles, on the 10th day OF
f December next
The superstructure consists of L rail of
90 lbs. per yard, laid on the very best white
oak, post oak. chestnut or locnst cross ties
nine feet long, averaging 9 by 6. inches, and
placed p FEET apart from centre To centre.
The unllre road runs through country of
unexampled fertility; and the climate, as well
as the soil, Is admirably adapted To the raising
r OF live stock, and the growth of wheat corn
and tobacco, Indeed, no part of the Union is
q capable of producing greater variety Of
crops Iron ore Of superior quality, coal aud
= lead are found on the line
The iron ore particularly is very abundant,
n and there are found inexhaustible deposits of
/. salt and gypsum Of unusual purity The lro.
$ ductions OF the soil and the mineral produc.
tons along the line of the road, would ofthcm.
selves, make the stock valuable But there is
now under construction line of railroad
i lending to Memphis which, with the Virginia
D and Tennessee road, will form part OF the
nearest possible line between that city and
New York. From the terminus OF tins road
on the Tennessee line. to Memphis. is sos
miles. 1st, the East Tennessee and Virginia
road, 1870 miles to Knoxville. TO the construc.
ton OF which the State contributed $4,000
at the last session of IFS Legislature, is now
under rapid progress Then, the Georgia
and East Tennessee railroad is now in actual
, operation, with the exception of &c miles next
to Knox lille, and that is under contract
j, The Inc 10 Memphis will go So miles on
his