The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1867-09-09
CHESAPEAKE AND OHIO ROAD
LETTER FROM COLONEL FoNTA1NE
City Subscription to Chesapeake and
Ohio Railroad.

10 me EdllOrS OF me flChnOnd DtSpdlCh
AS the citizens of Richmond may posi-
bly, require some information on this sub
iect, in response to request | make the
following brief statement on the promi
nent points involved:
/ take it for granted every one believes
that opening direct communication with
the western States will make Richmond q
great city, as the same means have done
with northern cities, vastly increasing hcl
population, her capital, manufactures, do.
mcstic aud foreign trade, and shall there.
fore enter into no argument on that
subject.
They wish to know,
lst. VIII the Central Railroad C0mpan,
be able to finish the cork 1oith the Richmono
subscription and other means at their com.
mdnd
Before answering this inquiry I will
state that the stockholders consented al
the special meeting in May to allow al
their property to be mortgaged, to extend
the road to the Ohio from steamboat navi-
CATION on the kanawha, after the road was
put in operation to that point by the use oI
all the subscriptions, not doubling that
the credit Of the company would then Sc
cure an ample loan for the purpose. II
the application Of the western subscriptions
to the western end simultaneously with
the eastern subscriptions to the eastern
end shall promise its completion, we may
presume that the stockholders will be
equally willing to allow the mortgage to be
made in the beginning.
What are the means, and aehat acW be The
cost Of putting the road IN operation +?
In late letter on this subject Mr.. Will
liam A. Kuper, the principal assistant of
Mr.. Fiske, the engineer who was con-
structing the work before the war, says
"Mr. Fiske was extremely cautious in sub
mitting an estimate Of the cost of the Co.
vington and Ohio railroad. He distinctly
asserts that notwithstanding an allowance
Of ten per cent. had been made by his
assistants in their estimates returned to
him, to be certain that the actual cost OF
construction should not exceed the eSti-
mates, he has added fifteen per cent. to
them" The same excessive caution in
duccd him to incur an unnecessary eX-
pense Tin the opinion Of good eDglneers)
in all his masonry, and, indeed, structures
of every kind" Mr.. kuper remarks fur
ther: /" l feel sanguine that by adopting
temporary tracks over the most difficult
parts Of the work, such as over tunnels,
and making temporary undulations in the
grades originally assumed, to put the road
in operation from Covngton to the head
Of the kanawha Valley would require
only S4,G00,000."
Mr.. Whitcomb, the present chief engi-
neer of this company, estimates that, by
the practice of the same policy, such as
adopting trcstle work (Which would last at
least ten years. in lieu of permanent
bridges or embankment, from the Falls of
the kanawha to the Ohio at Point Plea
SAINT, that part Of the road could be put in
operation for $l,5l0,000. 1t will thus be
seen that by postponing some heavy work,
which may be done at future day, pro-
badly at reduced cost, the road may be
made ready to commence operations to
the Ohio at the mouth Of the Kanawha for
a sum little over S6,000,000.
At the White Sui phur Convention an
allotment of s2,500,000 Of subscription to
the eight per cent. preferred stock was
made to the different counties in West
Virginia. So far as they have voted, they
have have exceeded the amount. Put the
whole West Virginia subscription at
$2,5O0,OOO. Though the "Sandy" branch
is equally important, aud its success may
be as certainly counted on, we will for the
present only consider the Point Pleasant
branch. Therefore, deduct from the
81, 100000 the subscriptions strictly appli-
cable to the road from the mouth OF Scary,
on the kanawha, to the Big Sandy-yiz. :
For Boone, Putnam, Cabell, Wayne,
Logan, and Lincoln, $75o,000-lea.
ving.... ............ ..'.......' Sl,''o, ,oeo
From Richmond we expect. 600 900
From Aleghany, A Augusta, Abe
marie, Fluranna, Goochland, Hen
rico and Manchester, we expect At
least OBSERVATION-DISCLOSURES. 900 900
S4,6j0, 900
From cities outside Of the States of
Virginia and West Nirginia-Cin-
cinnati, Louisville, &c, 1T least. zoo, 200
s5,60O,OOO
The Central road cost SC 100000 more
than s3,OOO,OOO have been expended on
the Covington and Ohio road-summing
M basis of credit Of Sl4,650,000.
Is it not reasonable to expect that with
a basis of credit Of $l4, CSC, 600 at least the
sum of 100000 may be borrowed to be
expended in the completion Of such road,
with a lien on the whole property after
the road is done?
! have presented this simple statement,
showing that the enterprise is practicable,
omitting all details, which are proper sub
iects for experienced financial agents to
arrange. :, -,
I'd. VIII Richmond get the benefits Of the
road after it is made ?
Some apprehend that Baltimore will get
the principal benefit Of the trade, and that
If the productions of the West come this
way, they will find an ultimate shipping
port at West Point or Newport News. In
reply to the latter difficulty don't sup.
nose it is necessary that merchant should
live at the wharf where his goods are snip
ped. If he ships from Richmond, ne may
have his office and warehouse two miles
from Rockets, requiring resort to the
street cars unless lie had an agent on the
spot to attend to his business, and so the
York River railroad might be used, II ne
shipped from West Point, as facility 1or
attending to his business, unless he had sn
agent there. The dray or wagon IN one
case would be the medium for transporta-
tion of his goods from his warehouse to
Rockets; and in the other, he would use
the dray and railroad. The river has mol
been properly appreciated. Il Richmond
had all the produce now brought to her
market which could be advantageously
shipped from her wharves she would be
commercially in very different condition.
The real difficulty is the want Of line OF
communication with the great producing
regions of the West that will invite their
boupdless stores by unrivalled facilities OF