The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1867-04-25
a,itl,mcnd llspatth.
The Danville Railroad Extension.

THE l)9nNlltt Nalilo AlCilSkoll.
The bin for tho extension of the Rich
mond aud Danvillc railroad from the town
az Danvllc TO some point on the Virginia
and Tennessee railroad was on yesterday,
after amendment, passed by the House OF
DELEGATES by the handsome vote OF e.
ayes 10 IL noes II was immediately after
wards passed Ivy the Senate.
As this road is the most important and
beneficial TO Richmond Of all that termi-
nate nj this time within her borders, this
event vii, be hailed with satisfaction by
our citizens generally. The line OF the
extension is through country OF great
fertility and mineral wealth which has at
present no outlet TO market. Every foot
of the way that it progresses will add to
the trade and prosperity of this city. II
is the only road whose entire operations
contribute 10 the benefit and growth OF
Richmond.
Colonel KEEN, Of the Senate, and Judge
CErNr, of this city, were the chief sup
portcrs of the bill, and both of them sus
tanned it with energy and ability. 1t wa
assaicd in the House earnestly, and en-
durcd some strong language. 1t was pro
nouuccd monstrcuS and outrageous rait
upon the States interest-aud 1t was al
legged that the company would make a clear
sweep of some three millions of state pro
rertv without consideration therefor. Mr.
CRrMr. in reply, showed that figures were
AGAINST the f,cts-that there had been too
mich powdcr for the shot of the attack,
and that il did not take effect. The iact
was the aS>alants took into account the
purchase of the Piedmont road, not yet
aid for. and ovcrcStimated the value OF
the stock in it, rs well as the Dan'ille
railroad stock. which, put in the market
now. would soon tall to $40, and prooapi!
$40 pcr share, while the States stock Is
advancing. If the State, indeed, could 60
on paving interest upon the cost OF hef
t1ree-ftths OF the road until the business
If the road paid the cost of Its con>'ruc-
t;,n and the interest upon ii, the figures
wnald do. So they would equally applyto
the Central and all other railroads.
Indeed, the same plan OF the exchange
# the State interest for her stock in rail-
roads which prevails in the Danville rail
,,,d bill. has been incorporated in the
Central and the Southside consolidation
hills and il met with universal favor. II
WAS left for the Danvile railroad bill to en-
ron,,rr the objection 10 surrendering the
States stock in railroads for her bonds
3,rgr for d5Nar. 1t is hard 10 see how the
State loses ty such transaction. She
may have to 20 on for long time paying
;rt,.r,>, on those bonds before her railroad
stock will pay anything; hence most peo-
III, thought it was grand operation tor
the State. and for the people, whose bur,
;lrus must be greatly lcs>cncd.
We are only afraid that tie schemes
which Lave been passed to build railroads
and absorb the State debt may not be put
into operation. The large amount o
State stock that must be retired 10 put
them atloat may so raise the price of stock
that the means cannot he had 10 purchase
All that may he wanted.
We trust that some Of them if not all
may succeed. aud we should certainly
deeply regret that the Danville road should
h. one Of the unsuccessful. 1t will have
4 smaller amount of State interest TO buy
out than any Of the companies, and its
condition is 50 very good that we not only
hope, but feel pretty well convinced, that
II will be entirely successful. It's ex-
tn,ion will be a great benefit to Rich