The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1867-04-17

bly, the civil rights biti, the SHERMAN Dill,
the supplemental bill, and the constitu-
tional amendment. -A
BY Mr.. GRAvEs.-Inquiring into the ex-
pediency Of amending sections 80, 81, IS,
and SO Of chapter $50 Of the Code of Vir-
ginia, in relation to bail.
THE CONSOLIDATION BILL.
The Senate bill to facilitate the con.
struction of the Cumberland Gap road by
consolidating various roads under the
name Of the Atlantic, Ohio and Missis.
sippi Railroad Company, came up on the
question of its passage.
Mr.. CLARK, of Campbell, moved to pass
by the bill, with the view of getting time
10 consider the differences between the
Senate bill and the bill on the same sub
ject that had passed this House.
Mr.. GooDE opposed the motion; which
was rejected.
Mr.. CLARK moved to amend the second
section Of the bill by adding the following
"Provided further, that said Atlantic,
Mississippi and Ohio Railroad Company
shall assume and bind itself to pay the
semi annual interest on the stock guaran-
,eed by the city of Lynchburg, and give
approyed security to the Common Councli
OF the city of Lynchburg for the punctual
payment of the same"
This amendment elected a long debate,
in which it was sustained by MesSs'
CLARK. WILSON, BEKEM, and PATTERSON,
and opposed by Messrs. GooDE and HERN-
NOV. In the discussion, the merits of the
hin were debated. The gentlemen OPP
nosing the bill coutended that it proposed
TO perpetrate q gross act of injustice ana
an infringement of the vested rights OF the
stockholders of the Virginia and Tennessee
railroad by compelling it to an alliance
with the Norfolk and Petersburg, South
side. and Cumberland Gap roads whenever
those three might determine to consolidate.
IL was argued that it was further unfair to
put the pnnperty of the Virginia and Ten
nessee rallfoad at the same value with that
of the other roads, which was so inferior
to it in every respect that went to make
up the value of railroad property. Already
the discussion of this bill had deprecated
the value of the stock of the Virginia and
Tennessee railroad ten dollars per share.
The city of Lynchburg had caused the
road to be built. Without the means and
exertions of that city and her people 1t
never would have been built. Nor would
thew ever have undertaken it could they
have foreseen this movement to take their
property and put it under the control of
another corporation. Such an act, 1t was
would go far to throw suspicion
upon the reputation of the ancient Com
Lynchburg had subscriber
$500, 900, and her citizens nearly $3.50, 600;
TO the road. 1t was due to the city at
least that if this bill passed the city should
be relieved of the burthen she assumed in
order to build the road.
On the other side it was contended that
he consolidation promised immense add
to the State and to her seaport,
Norfolk.
Mr.. GooDE said experienced brokers
lad assured him that the stock in the Ten
lessee road would advance SO to $50
rom the passage of this bill. 1t was ar
,ued that no injustice could be done to the
because, when the CONSOLE
lated company bought out the State, its
power, aided by the votes of those stock
FOLDERS already in favor of consolidation,
would be omnipotent, and ought to be. In
addition to other alleged advantages TO
State and people, much was said about the
liminution of the public debt by S6,oO0,-
,O0-the people being relieved OF that
mount forever. 1t was also considered
.reat measure because it dissolved the
connection between the State and the rail
Dads concerned-an example which should
,e followed bv similar divorce Of the
from all the public i'm
Of the State.
The vote upon Mr.. CLARK's amendment
vas decided in the negative-ayes, Is;
noes, 81. =,
Mr.. EVANS moved to amend the fourth
section by striking out the first eight lines
md inserting the following:
eff any three of the aforesaid compa-
Mes shall form the said Atlantic, Missis-
,ippi and Ohio railroad, and the other
railroad company shall refuse or decline
q enter into the formation of the said At
Iantic, Mississippi and Ohio railroad, and
the said refusing or declining railroad shall
forfeit all the interest held by the State in
all four of the said railroads, and which
ever of the said organizations will give the
higher price for said interest shall become
the purchaser thereof; provided that such
interest shall not be sold for less than an
equal amount of State bonds.'
Mr.. EVANS explained the effect Of his
He offered it it in good faith,
and would vote for the bill if it were adopt
ed. 1t would enable the road which had
the most means to buy the State stock,
and would probably give the Virginia and
Tennessee railroad the control Of the line,
since it had 204 miles against 200 embraced
in the roads now in operation.
Mr.. GooDE was not surprised at the
of the gentleman from Rich
mond (Mr. EvANs.) 1t was consistent in
him as persistent enemy of the bill. If
the amendment be adopted, the bill would
not be worth the paper it was written
upon. 1t would bring the different roads
into conflict. They would cut each others
threats. The amendment would destroy
the vitality Of the bill. 1t presented an
1t was imperative until the
Atlantic Company was formed and under
its effect the company never would be
formed. What would it achieve, more
than the bill, beneficial to the State Is
it possible that any one would believe that
more than dollar for dollar could be OBJ
tanned for the States stock in the rail-
roads? The idea was untenable.
Mr.. CRUMP had been steady though
silent friend of the bill. 1t had gone to
the Senate and come back with an amend
ment that would change him from its
steadfast friend to its uncompromising foe.
The bill contains provision now that the
company shall not be required to take the
stock of the State Gin the consolidated
roads until twelve months after their con-
solidation. That was not the form of the
N Al.