Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1858-10-22

sale OF Company bonds at a low figure. Most
reluctantly the Board has been forced, BY the
despotism of circumstances, TO submit IN this
loss. Pressed for payment, and without
means, except those derived FROM the sale of
bonds, the Board had the alternative Of selling
the bonds themselves, or having them soll by
the creditors of the Company. Comy e!led,
therefore, to 90 into market, submission to
market prices was a necessary consequence.
Manassas could exhibit as her basis Of
credit, only q revenue crippled by short crops,
aud was forced to take a lower rauge Of prices
than C1mpanles with more ample revenues.
The hIating debt of the Company should
he extingui-hed, partly because payment is
demanded, ard in part that the rate of inter
est IS 50 much higher upon the fl ,sting debt.
as to make it prudent that it should be tnnd-
cd. The prospect is that 10 future the ex-
change can be effected with improved prices
for the bonds, because Of the better revenues
OF the Company, and the reduced debt re-
quiring the sale OF q less number of bonds,
and diminished urgcncY for their sale.
The BDard has every reason 20 justify
their confident expectation that the road will
he completed as far "a Mt. Jackson, early 10
December. The crOss-t,es are bow laid with
in three or four miles Of this point, and the
rails are confidently expected to arrive in the
course Of the month OF November-;he lay
ing upon ready cross tics requiring but little
time. The rails are the best Welsh manu-
~fscture. and will cost the Company, ell ex-
penses paid, S43 50 q ton.
The completion of the road to Mt. Jackson,
is cause of congraiuiatiou, for several rea-
.z l. -, -. All e IN A.
sive work on the road to Harrisobburg; it is a
point Of greatly improved accommodation to
the trade Of the county Of Rockingham, and
by improving the revenues Of the Company,
it gives relief from the ihraldom of q pressing
debt.
Nj. jackson, located On the Valley Turn
pike, which has q South Western direction
to Harrisouhurg and Steunton, will also
draw 10 it the trade of Page county on the
East, by a metal!ed road leading to Luray,
and will draw a large portion Of tao business
Of Pendlcton and Hardy counties on the West
By a graded road now being made to Moor
field. Tie location of Nj. Jackson ard also
of EiinbuTg, constitute points of striking To-
cal Development. Situated on two consider.
able streams, Stony ard Mill Creeks, near
their junction with the Shenandoah, they are
surrounded by bottom lands renowned for
productiseucss in earn and other articles too
bulky for wagon tramp I~rtation even as far
as Woodstock, by great water power, By
exhaustless stores of ircn imbedded 10 the
neighburing bills, and abundant supplies of
lumber furnished from the boundless forests
which cover the mountains that pass
the valley.
The completion Of the road from Mount
Jackson to lIarrisonburg, will be anxiously
pressed By the Board. There are one or two
points which will require length Of time Tor
their completion, and the Court OF Rocking
BAN, all the Magistrates of the county pre-
sent, expressed the with, that the Company
would use the county bonds, in the immediate
prosecution OF this particular work. The
Board deeply regret their inability with their
limited means to do more work than that adj
vertcd 10. Ii il however - pleasing r. Election
that the completion Of the road to HARRISON
burg will not require q large sum. An ap-
preparation OF S250,O00 by the State vail close
this work.
90 the work of the Independent Line, and
L1udoun Branch, as was stated 10 the report
Of the Beard of last year, the graduation
and masonry have bCcn more than hall nm
isbed. The completion of the work, super
suuciurc and grading, will require $500 100,
a sun greatly exceeding tbe means OF the
Company; and although toe way Of It's &C.
complishment is now dark, yet a rerseveriug
will, may fpd the way: i. is a Just source OF
Confidence that the past achievement o! the
Company, authorizes the conviction that the
entire completion of this work is a question OF
time and not of fact. b. order oi lie card:
EDWARD c. MARSHALL, Prest.
ENGINEERS REPORT.
E>CINErR'S DrFICE-