Lynchburg daily Virginian. [volume] (Lynchburg [Va.]) 1852-1861, 1858-10-25

been hypothecated with the Banks u secure pay
msut Of nntes referred to before under the head Of
existing indebtedness.
Stock subscribed on Capital Stock oi Lyneh-
burg Extension.
BY County Of Amherst. $50.Ooo 90
by Individuals ACKNOWLEDGEMENTS. Al5.oo4 VI
4G3 GA %
Tho remainder of Capital Stock on hand and un-
subscribed is 81. 036. 1855 "a.
From the foregoing statement VI the financial
co~dition Of the Company. II will be that the
means aud resources Of the Company will be
pie 70 meet the eaiirc u finishing The work to
lynrhbsrs OF the ISSUE Of eight per cent bonds
sniAorifed BY the special meeting 10 April last. II
is expected that . lin,ei amcuat only will he
se1d A tarrc margin was assumed only TO cover
esasinEepSss-
CONSTRUCTION.
The BArd are happy TO report the advance
nsezss made In the Construction Of the extension tc
LyscA hurg since their last meeting The report
81 tn Chief Engineer, 7. c. Atkinson. esq, here
with sshuis,ed preseats its condition in detail
The great body Of the graduation and masonry
viii be completed By the end Of the current year,
leaving only some half dozen II the more difficult
points 10 Be executed in the course of the next
spring. and early part Of the summer. This Of
course will involve the exercise Of considerable
activity and vigour in the prosecution II the work
but the completion Of the graduation and mason
~ can be affirmed with great conscience as praci
cable with proper effort within the time Indicated
above. II the State aid granted hy the last Leg
islature could have been obtained at the beginning
Of the year. when the usual labor for the work is
engaged. its earlier completion would have been
much advanced. The track-laying is u tedious
process and necessarily requires time for its
execution, but can be greatly expedited by com
menciug operations contemporaneousy at both
ends.
TIL. ,,,,i;o, IN ;ovolr, s,,no additional cos,
bat will afford ample remuneration in the earlier
completion and use Of the road. The delay of
even . month NOW i'll finishing this part OF the
work, causes loss Of thousands of dollars To the
revenues Of the Company. Contracts have been
entered into for tho delivery of three thousand two
hundred tons Of iron raids a which some five hun
dred tons have been delivered. Seven hundred
tons moro will be delivered next month, md the
remainng two thousand in the months Of April
and May next About two thousand tons more
will lie required next summer 10 complete the
line. These purchases have beeu made On terms
favorable rs to price, with guarantees tor de-
livery Of iron Of the best quality and munulac-
ture
1t is proposed to commence the laying down Of
track on that part Of the work nearest To Char
lottesville, early in November, aud to procrcd
with the same continuously, rs far ~ possible, du
ring the Fall and Winter. With the opening ii
Spring, the track can be commenced to be laid Mt
the Lynehbarg end, and regularly extended east
wardly, until junction is iormed With that laid
from the ether terminus. The construction Of ,Lc
bridge 1t James River opposite tho city n ly"ch-
burg has been postponed on scooun, ofthe heavy
expense involved. aud che limited means of the
Company for 60 large outlay. Plans are
maturing to let this work at an early day, and in
the meantime temporary means will he adopted
for the proper accommodation Of our business at
that point 1t was hoped that some arrangement
with the Virginia Central Railroad Company
could have been reported to the present meeting,
IN respect TO the transportation Of business
over their line, between Gordonsville and Char
lottesville. From the correspondence, however.
which has taken place on the subject. it is conf
IDENTIFY believed that reasonable terms can he
agreed upon to accomplish satisfactorily the object
IN view Before the next annudl meeting Of the
Stockholders. there Ia every reason to expect that
the work ii the extension will be completed and
the read in full operation to Lyachburg.
The Board, IN conclusion. congratulate the Stock
holders upon the improved condition Of their work
and upon an early consammation Of its brilliant
prospects
The operations En- the Extension prescntet
more 10 detail by the Report Of the Chief Eugi
neer which we copy in full ~ follows:
ENGISEER's OYrIcE,
ORASos h ALEx'A. r. r. EXTENSION,
Alexandria, Oct. lst 1858.
10 John s. Barbour, jr., esq., Presidenf:
Sn:-i proceed to notice the work of the Elk
tension a. comPrised under the following customa
~ divisions:
GYedaatios.
Tho operations which at the date of the last An
laal Report were Sader vigorous prosecution
continued 20 until near Christmas, with the CUES
onabe ability to proceeding with fun vigor III.
ensuing year.it was considered expedient to ter
inmate ell the contracts, as the original agree
nsnts bad provided in the discretion Of the Com
pany, II TIE sad Of any one year. In aooordanc,
fhsFswith, notice to such eAect wss given to al
the parties.
Tie Consequence wss suspension Of much q
~ 1ss6 sstil he decisive action Of the Legisla
eas1aA1 iespifsd ffesh cos1dence. -IptAs mont
ef-ApFH - ssi4ption had become general, m