Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1868-01-24
COyINGToH AND OHIO RAILROAD.

Y Uo Peo1eo H"J"o'"' ftH
You will be called on very soon to decide
whether you are willing to make a small
contribution out of your abundance, to Sc
cure the completion of that great enterprise,
the success of which, is not only the best
measure to restore the waning prosperity Of
the State, but, as | propose TO prove to you
will ioubly and trebly repay you for all that
is asked Of your county.
By special invitation [ attended your De-
cember court for the purpose of addressing
the people, but as a suitable opportunity for
doing so was not presented, [ take this meth
cd of discharging the duty which my official
connection with the subject imposes on me.
I was surprised to find SO many erroneous
impressions prevailing, which. in the absence
of proper information, would naturally make
you unwilling to subscribe.
1. The contract for building the road has
not been made by the Central Railroad Com
pany. Such a work as this, requiring the
borrowing of at least ten million dollars,
could not be undertaken by this Company
without very substantial aid.
The stockholders have prescribed as a
condition that no portion of the work Shall
be put under contract until three million
five hundred thousand dollars of stock shall
have been subscribed !; and if they had not
required that sum-, the acts of the Lsgisla-
ture of Virginia and West Virginia prohibit
the Commissioners to make a contract unless
the contracting party has raised three mil
lions Of dollars. You will therefore see that,
unless your county assumes her just proper
ton Of the requisite amount of subscription,
you have no right to expect that the road
will be constructed.
2. 1t is believed by many that the three
hundred thousand dollars proposed to be
subscribed is to be paid up at once by a tax
on the people. It is not expected that any
part Of the subscription is to be called for in
money. but the bonds Of the county, paya-
bic thirty years after their date, if your
court so decide, will he received in payment
Of your subscription, at no greater discount
than ten per cent. no matter how much less
than that would be their value if put on the
market.
Sd. This contribution is not to be called
for at one tine not more than one-fourth of
the bonds, and consequently not more than
onefourth of the interest, will be wanted the
first year; you are not to make a gift of
these bonds, but to have stock issued for
them, on which you have a guarantee that
eight per cent. dividends will be paid annu-
ally, after the road is completed to the Ohio
river, which dividend you will have made
up. if necessary, out of the profits of the
road, although the old stockholders may get
nothing.
This road ought to haze as large a reve-
nae as any Northern lines.
You not only have the guarantee of get
ting eight per cent. IN your stock, but there
can scarcely be a doubt that you will get
more when the road is opened to the coal
region of West Virginia, and the western
and northwestern States, teeming as they
are with population and wealth. Why will
it not do as large a business as any Of the
roads now leading from Northern cities. It
is not only nearer from all the centres Of
trade in the West and Northwest to Rich
mond, than to Baltimore, Philadelphia and
New York, but the superiority Of its grades
are equivalent to many more miles in dis
lance.
Adrumtage Of Climate and Grades.
The Southern location Of the road is
another great advantage. 1t is not liable to
be INSTRUCTED, as is sometimes the case by
SHOWS on Northern lines of transportation
The closing of canals at the North for near
" half the year. will send a vast amount of
trade to this line. Some few weeks ago the
New York Herald said: eve have intelli-
''gence that the Erie Canal has been frozen
sup and probably closed for the season. In
zone stretch alone on this main artery of in
s%'terior navigation, viz: from Syracuse to
Troy-it is estimated that not less than four
million bushels Of grain, besides, a vast
amount Of other produce will be locked in
until Spring. We also learn that the Dele
ware and Hudson canal is closed by ice lock-
ana up ouer 20, 600 bushels q coal." Anoth-
er New York paper of very recent date says;