The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1867-06-07
VOL. XXXII.

III VIC ColupIStlOH VI VIC CutStpSaNS aho
Ohio railroad contain about ten millions Of
acres of land, which is now comparatively
valueless for want Of proper outlets to
market, but which has an undeveloped
wealth consisting Of soil, timber, and NINE
rails unsurpassed by any section Of equal
extent in the Union.
When this great line of railway is COM
plctcd, these lands will probably be en-
hanced four-fold in value. Large cities
and thriving towns and villages will spring
into existence on the line of this road. A
very small tax per acre would, it is be-
lieved, with the aid to be derived from
other sources insure the completion Of this
work.
The cities Of eastern Virginia, which
have heretofore made slow progress in
population and wealth, would, we doubt
not, make large subscriptions.
By the completion of this line Of rail-
way, the valley of the Ohio would be
tapped at its central point, and its i'm
mense productions, which have con-
tributed so much to building up northern
cities, would be diverted through Nir-
sent channels.
OlHS.uHdtl duu OiIiCl SlNlto VI tiIC hSSl
are anxious to obtain q more direct and
cheaper channel of communication with
the Atlantic.
We call your attention to the following
extract from recent letter of III. G. Lord,
Esq, of Cincinnati, and president Of the
Indianapolis and Cincinnati railroad. He
says: " In answer to your inquiries as to
what, if any, interest the citizens Of Gin
cinnati and the railroads running west and
northwest from Cincinnati would take in
the early construction OF the Covington
and Ohio railroad to its proposed terminus
on the Ohio river, | reply that both the
citizens of Cincinnati and the railroads re-
fcrred to are in fact greatly interested in
the prosecution and early completion Of
that enterprise, and | believe that when
ever the city of Richmond and the coun-
ties and people along the line of the Gov
ington and Ohio railroad shall have shown
their appreciation Of the value and
Importance to them of this road,
by substantial aid to it, either by
liberal subscriptions to its stock or bonds,
the city of Cincinnati and the western rail
roads centering there, will respond in the
same substantial manner. The value Of
this road to the west, in atiording still
cheaper outlet for its products to the sea-
board, can hardly be estimated, and [
doubt not our people will cooperate with
the State and the people Of Virginia in Sc
curing the early construction Of this most
important channel Of commerce"
The preferred eight per cent. stock in
the Chesapeake aud Ohio railroad which
the friends of the work are now asked to
subscribe for in order to secure its early
completion will not be Of doubtful value.
Already about eleven millions of dollars
have been expended in the construction Of
the road from Richmond to the Ohio river,
and for the completion of which, it is esti-
mated, ten millions of dollars will be re-
auired. This amount it is proposed to raise
by subscription to the eight per cent. pre-
fcrred stock, and by sale Of bonds.
The subscribers to the preferred stock
and the holders of the bonds issued for the
completion of the road will be entitled tothe
net earnings on the entire road from Rich
mond to the Ohio river, until their divi-
dendS and interest are paid, with the en-
ception Of the sum necessary to pay the
interest on 81 $4,000, the present debt OF
the Virginia Central Railroad Company.
The probable net revenues of the Chesa-
peake and Ohio railroad may be estimated
from the results on the Pennsylvania Cen
trail railroad and the Baltimore and Ohio
railroad, the great rival lines
By the report Of the Pennsylvania Railroad
Company for 1861 IL appears that the entire
cost of their road was. S%l,p-i,eJl -
Gross earnings for
1855. 4,759,Oj7 &C
Expenses for lStj,.. lOO'S,9ii ~
1863, ,0Gj, ,ll3 A. or more than
lS per cent on cost. ~
Baltimore and Ohio railroad report, i>Gi:
Cost of road, main stem, from Baltimore 10
Wheeling .........,...... - S-7'''0'-'' -
Gross earnings. .SN''''.p'-
Expenses, ,............'. ",-'V'"oo
Net earnings, S1,30', -" OF more th'ii
20 per cent. ON cost.
1t is understood that the business and
profits of these great railway companies
are increasing from year oyear that after
paying eight to ten per cent. regular an
nual dividends to their stockholders, they
have large surplus fund to eXpend Ill en-
larging the capacity of their works, and TO
purchase or aid in the construction OF NeS-
tern railroads. -,
The Chesapeake and Ohio railroad will
have the advantage of these great rival
lines in many respects:
I. In shorter distance from tide-water
to steamboat navigation of the ONO rlVer'
From Wheeling TO Baltimore. 379 miles
From Parkersburg to Baltimore. 3N3 miles
From Pittsburg TO Philadelphia. 800 miles
From Falls of kanawha 10 Rlch-
mond the kanaWha river being
improved and the Virginia Gen.
traI railroad shortened, us pro
,,nsad 800 miles
From Falls of kanawha to Newport .,o.
News. - %" IN
From Fails of kanawha TO Norfolk 100 miles
2. From the Ohio river, crossing the
Allephany mountains to Covington-a dis
tance of two hundred and twentytour
miles-tbere will be no grade exceeding
twenty nine feet to the mile, and lor near
two hundred miles of the distance the
grades will not exceed ten feet TO the
mile. ~,
2. The severity Of winter, which SO
much obstructs transportation on northern
roads, will not impede business on the
Chesapeake and Ohio railroad.
4. The coal.felds of the kanawha, as re,
snects variety, quality, and quantity ol
coal. is not equalled by any coal-heldS IL
the United States.
Camel coal, nowhere else in the United
States is found of as good quality or IN SC SC
great abundance also splint coal, free IRON
sulphur and finely adapted 1 G"''h0u'
coking) to the manufacture OF iron.
Most extensive deposits of iron ore e.t o
many varieties and of the richest quaiitS
are found on the line Of this road, ana IL
believed that the materials local ana iroi
"a Co.. tba mamma cture Of iron. can Dt