Staunton vindicator and general advertiser. (Staunton, Augusta County, Va.) 1858-1860, 1858-02-06

city that an alTasg cement can be made
through those institutions by which the
floating debt, q large portion Of it, can
be distributed through period of five
years, one-ffth Icing paid annually, where
by one-half OF 4le surplus revenue, or in
round numbers, Ss0o,0oO, annually, will
be left applicable to the purposes Of inter
nal improvement.
The interest held by the Commonwealth,
in the works named, is as follows In the
Covington and Chic Railroad, 81, 500, 900;
Virginia Central Railroad, 2,O4O, 900 !;
Orange and Alexandria Railroad, $685.
500; Norfolk and Petersburg Railroad,
5000, 900; Mmassa Gap Railroad, ST.
$50, 900; Alexandra, Loudon and Hamp-
shire Railroad 1920, 600, and Richmond
and York River Railroad, $500, 900, To-
tai, IS, 029, 500. The report then pro-
ceeds to give statement Of the progress
and condition of these roads, and says that
all Of them will require further assistance
from the State, an assistance which in some
cases it will be unwise to grant, so little
progress having been made on the roads re-
curing it. BESIDES these interests in un-
finished roads. the State also owns larger
amounts Of stock in other roads, some Of
which have been recently finished 1t is a
sto ckholder in the South Side road to the
amount of $500, 500, and creditor to the
amount of near million Of dollars row
This road has been completed within few
years past, and sufficient time has not yet
elapsed for fair experiment of it's value =
The amount invested in the stock of the
Lynchburg and Tennessee road is 1900,
600.
The committee suggest that the follow
ing appropriations be made this session =
To the Covingtou & Ohio Railroad $500
GOO; Orange and Alexandria Railroad
$500, 900; Richmond and York Rive,
Railroad 5000, 900; Norfolk and Peter S
burg Railroad $25, 900; Alexand ria, Lou
doun " L ampshre Railroad $500, 900
Virginia Central Railroad $780, 900; ex
tension of the Richmond & Danyille Rail
road $500, GOO. The committee think i
judicious to respond favorably to appeals
from works in progress as far as practicable
but think ''that in the present condition O
the finances of the State, it would not b.
expedient at this time, to undertake an,
new work Of Improvement, but that all on
energies should be directed to the prosecu
ton and completion of works already com
menccd, and on which large expenditure
have already been made, and such auxilia
ry works as are of indispensable impor
lance" Speaking Of the Richmond, Fred
erlcksburg 4 PotcmGc Railroad, the repor
says:
"fhe Richmond and FREDERICKSBURG
road, which has been in operation for abou
twenty-five years, and which is the onl
railroad in the Commonwealth which. in til
just sense of the term can be regarded a
finished, because al its connections hav
been supplied, furnishes striking eyidenc
Of the value and profit Of well conducte
road. From a statement obtained from th
officers OF that company, and which is ap
pended to this report, it will be seen that
has, within the period of twenty-five years
| reimbursed to the State the whole amour
of its subscription, $4,000, in cash
bonds OF the company, and permanent ao
, ditions to the value of the road, and til
, Commonwealth still retains it's interests
the road, which there is good reason to b.
lieve will continue to yield large dividend
| to the treasury. Dispatch.