Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1865-11-10

give ~. Il careful perusii. s
Among the great roads Of the South, none
have the prospect Of more brilliant future
than the Virginia Central railroad. In spite
Of the heavy indebtedness of the State, and
the narrow circumstances ofour people, there
is, at this time, stronger conviction than be-
fore the war, that this road is soon to form
a portion of the great line which is to pour
the exhaustless products Of the West through
Virginia to the ocean. -
Accidentally seeking advice, the other day,
from leading firm Of brokers', of this city,
as to the present value of railroad stocks, we
learned that they had orders to buy every
share Of the stock OF the Central railroad
which was thrown u}on the market.
The bright future of this company, even
now, is clearly disccrned by those keen and
far sighted Northern and foreign capitalists,
who are not deceived by the temporary mis-
fortunes Of Virginia, and her leading line of
railroads.
We have been both surprised and morti-
fed to learn that at time when the great
object for which the distinguished President
of the Central railroad has SO long labored is
nearer being collsunlmated than eyer before
there are movements on foot. to deprive the
Company Of his long and most valuable SER
Wees
From our earliest recollection to the pres
ent time the name of EDMUND FoSTAINE has
t been honorably Unidentified with this great
road. Through good and evil report, in its
hours of adversely and utter insignifcanee,
| as well as in its days of great prosperity, he
was universally acknowledged as unequalled
in ability, industry, and efficiency as a rail-
road officer A volume of facts almost as III
teresting as a SENSATIONAL romance might be
written commemorative Of his struggles for
more than quarter of a century against all
the difficulties which the Central road has en-
co ntercd.
That there should be the slightest opposi-
ton to this most self-sacrifcing and faithful
officer, is strikingly Illustrative of how very
speedily public services are forgotten. Look
back to the history of the Central railroad,
and remember the difficulties it had to en-
counter The time was when the Little
Louisa railroad" as it used to be derisively
called, was scarcely worthy of notice. Then
it was mere feeder OF the Fredericksburg
railroad, with Colonel FoSrAINE working
day and night to make the road what it has
since become-and rcce ling the magnificent
salary of five hundred dollars per annum-
1t was then that this gentleman took charge
of the road. when it was withoM funds and
sci5hom credit, and endorsed it's bonds, as we
remember in those days to have heard, to the
extent of his entire estate Then, az we have
said, it was mere feeder of another road
commencing" as some one then said, mo
where, and ending nowhere, y commencing,
however, at the present junction" near Tay-
lorsyillc, in Hanover.
AS we recollect, he secured the construc-
ton Of the independent line to Richmond, be-
for that powerful corporation, the Richmond
Fredericksburg and Potomac G mpany con-
descended te notice the movement consider
ing the enterprise as beyond the capacity of
so feeble concern as the LITTLE Louisa Rail-
road Company. We venture little in saying
it would not have been built but for his exer-
tons, and pledging his estate to sustain the
credit Of the Company.
Asor the Company acquired separate
line to Richmond, and got rid Of the depen-
dencc on the road of the Richmond, Fredcr-
icksburg and Potomac Company as medi-
um Of communication with the city, It's pros
poets began to brighten The same unAag-
ging resolution continued to press its claims,
and gradually it crcpt along to Charlottes-
vile. to Stanton, to Millborough, to jack
sons river; and wants only the superstruc-
ture to finish it to Covington. Having over
come the passage of seventy miles west of
Staunton, nearly the whole distance sterile
mountain region, furnishing little or no aid
in building the road, it opened the way and
furnished basis for the Covington and Ohio
road, which the State had commenced build
ing to connect the great and fertile West with
the commercial cities of Virginia
1t was no easy matter to construct a road
two hundred miles long, nearly half of it
over barren, rugged mountain track AZ
ter much opposition, the city of Richmond
was induced by his public speaking and wri-
ting to subscribe $500, 900 But still there
was a large deficit We have felt sufficient
personal interest in this matter to examine
the reports Of the company. 1t appears by
the treasurers reports that nearly one mill
don dollars have been appropriated out of the
nett earnings Of the company towards the
construction and equipment of the road.
1t also appears from the treasurers re-
ports that dividends have been paid to the
stockholders to the amount of 81 ,322 ,6S1.-
80.
From examination of the reports of the
Board Of Public " orks, it appears that the
dividends declared by the Virginia and Ten
nesscc, the Danviile, the York River, and
Orange and Alexandria roads, amount to
about $3.50, 900. We make no reflection on
these companies, but here is the fact that the
Central has paid fifty per cent. moro divi-
dends than all four Of these roads We
know that all of these roads have been ably
conducted, and yet none have equalled the
road of which Colonel FoNrA1sE has been
the President for quarter of century. -
Have the people of Abcmarlc forgotten the
great contest for the location of the road west
of Gordonsville when that indomitable and
able man, WILLIAM SMITH, then Governor
and President of the Board Of Public Works,
refused to make the State subscription, the
elaborate report of President FoNTA1NE, made
on the subject, decided the choice of route by