Lynchburg daily Virginian. [volume] (Lynchburg [Va.]) 1852-1861, 1860-06-21

Va.
Closing Song Words by the President Music
by Prof Bozzoatra.
BENEDiCTIJN.
RlcuAoND, FREpERicKsBrRG AND Porou &C Rail.
RoAp.-The city has been "agitdtcI" to one OK
tent, SD to speak. for the past days, in refer
to certain liabilities contracted lv Edwin
Robinson, Esq who has, for many years past.
conducted and managed the affairs # this road as
President. with an ability which does MT admit
Of question. This rumored "detalcatio.l" having
assumed such proportions Us to require notice at
the hands of the public press in some shape or
other, We yesterday instituted enquiries at the
proper place and CLEANED the following facts.
which. SO far as they affect Edwin R"bnson's per.
sanal fortunes we record with an emotion of sim
regret; On Monday n meeting Of the Board
Of Directors. namely Messrs Charles Mills, DR..
". IIaxall Nicholas Mills, George W. Munford
and John S. Caskie, was called by the President.
and met at the Office Of the Company. in this
city At this meeting the President sta Ell frankly
what was as surprising to the Directory as it will
be painful to his many friends in this city and
elsewhere, viz: that. tempted by the hope Of ma
king not only for hmslf but the Company he rem
resented. he had endeayored to establish the vii
lage of Ash land and other mprovements-that in
doing so he had used besides his funds q
large amount of the credit Of the Company and
that finding that it was greater burthen than
he could bear, was willing to surrendertyerything
he possessed for the securitv Of the corporation
over which he presided.
1t is proper to say that the President entirely
exonerated all the other officers Of the Company
from aay partci patton in his abaritIve plans for
the advancement Of his own and the Company
fortunes. In concluding his remarks to the board
of Directors, he rendered his resignation as Pre-
sident of the road, which was accepted, and DIR.
Charles s. Mills was then chosen President pro
tenn.
The Directors Immediately proceeded to an en-
qury into the extent Of the liability, and were en-
gagged in go doing a portion of the past two days.
There Investigations would lead tn the belief that
that it would exceed $40 900, and probably reach
Sl50,0
The assets out Of which to make this amount
are considerable, and of great pocuniary value,
present and prospective and it is herdy probable
that the Company will lose cent by the unfor-
tunate speculAtons Of it's late Presdent--specula-
tons which were embarked in doubtless with its
own knowledge and tacit consent
The Ashland Hotel property, and the land and
improvements connected herewith, urc believed 10
be worth 500 900; and the race track; AMI i'm
provements connected Herewith cost over 100000
and would produce lawful int est ON more than
$4,000.
All of this property, which belonged to Mr.
Robinson in pursuance OF his determination tC
that effect has been decided absolutely to the Com
pany Yesterday evening deed was recorded in
the Hastings Court from himself c'nveying the
lot and dwelling on the corner of Franklin and
Adams streets, seventeen slaves and all his house
hold and kitchen furniture for the consideration OF
S35 000 of his indebtedness
We believe the above TO be n substantially cor
rect statement. Any developments that may be
made to-day, or in future. which concerns the pub
lie, wo will publish as matter OF duty only We
take no pleasure in recording the mis!ortunes of
any citizen, and certainly could never feel thai
emotion in speaking Of the pccunary downfall Of
80 public-sprited citizen as was Edwin Robin
son.-Rich. Examiner