Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1867-12-19
winchester and Potomac Railroad.

The stockholders of this road held meeting
at Winchester, Va, last week, and, as stated in
the Times of that place, concurred in the fol-
lowing agreement with the Baltimore and Ohio
Railroad Company:
1st That the Baltimore and Ohio Railr'ad
Company shall hold the undsturbed possession
and control Of the road for twenty years from
the lst day Of July last-receiving to their own
use during that time all the revenues of the
road. with the option Of continuing tn hold it
indefinitely thereafter FIR any succeeding term
or terms Of like duration.
o. That the Baltimore and Ohio Railroad
Company shall pay to the Winchester Compa-
ny. in equal Semi-annual instalmcntS. the sum
Of S27 900 per annun during the continuance
Of me contract.
81. That the am unit remaining due to the
Baltimore Company un the LIST Of July last for
advances made in the renewal and repairs Of
real, &c. shall be treated rs loan t. the Vim
chester Company during the continuance Of the
contract, and that the former company will al
So advance to the latter a sum not exceeding
$50 900 to provide f1r what is known rs its
floating debt, being debts contracted prior tn
or at an early stage Of the late war. and such
further sum as will enable the Winchester
Company to extingush its Indebtedness to the
commonwealth, in pursuance Of the terms of
the act passed April %, 1867.
4ih. That the Baltimore and Ohio Company
shall guarantee the bonds Of the Winchester
and Potomac Company fora sum not exceeding
the principal and one-ha)f the interest in arrear
to the LIST Of July last Of the : per cent. bonds
Of the latter-Such guaranteed bonds to bear 8
per cent. interest from the last named date. aud
/ which it is proposed to offer To the holders Of
| the per cent. bonds in exchange FIR the lat
ter. The suhSjSting lien on the road for the
security Of the per cent. bonds to be contiu-
ned rs a security FIR the guaranteed bonds in
! the hands Of the holder; and also to the Bilti-
more and Ohio Company for such amount Of
| them as they may be required to pay.
! 5th. The Baltimore and Ohio Company is 20
retain out of its Semi-annual payments to the
| Winchester and Potomac Company an amount
| equal to per cent interest on It's advances,
/ and also to provide for the semi-annual pay
ment Of interest on the guaranteed bonds,
| which it is expected will reach about $50 600.
9th That company assumes q" all the legal
! obligations Of the Winchester and Potomac
/ O'nlaiN Hl'ltI ltS ClldIitI, - Nv pay h'l pi''V
and Federal taxes, aud keep the road and its
appurteuanceS during the continuance Of the
term and deliver them up at its expiration in
as good repair necessary wear and tear except
| ed as when they take charge Of them"
The above contract between the two compa-
MES was confirmed yesterday, by the directors
Of the Baltimore and Ohio Railroad Company
at their monthly meeting The project Of the
extension Of the Winchester road TO Strasburg
/ is. Of course enhanced by this arrangement
| baltimore Sum Dee. -
We are much gratifrd at this result. The
vigor with which Mr.. Garrett and his officer,
will press the business of the road will prove
highly beneficial to our great Valley, and W,
look for an energetic movement towards the
Strashurg connection.
This affords us the occasion to note with ap.
probation the efficiency and courtesy Of Mr.. 4
b. Wood, the agent at Harpers Ferry-alway.
at his post; and whilst watchful Of the interest.
Of the company ever anxious to accommodate
the public Mr. Martin, the clerk, also deserves
com mendation for his business qualities.
! Free Press