Bristol news. [volume] (Bristol, Va. & Tenn.) 1867-189?, 1869-08-06

which It's business Is drawn, is Feen TO be
greatly more than sufficient to pay interest
upon the whole sum. Besides, We See that
the floating debt of this company, as IL now
stands, comp r~d with its assets, Is nominal
and smost trihing.
THE sOuTHsiDE RAILROAD.
We come now 10 notice the second ani
middle link in this Consolidation Line, and
we say ia linline that the contrast between
Its present improved and prosperous cond-
tion and the spectacle Of dilapidation It OK.
hbited on the day Of i's coming into the
consolidation policy, is quite as marked as
that presented by the road first considered.
Never, perhaps, was there q railroad pre-
tending to accommodate the public less ca
pahle Of the performances of such an un-
dertakinV, unless We except-as In com
mon fairness We think we ought-the Vir-
ginia and Tennessee railroad, as before
mentioned. Here, as there, everything
was out OF order-bad track, worn. out rails,
rotten cross ties, dangerous bridges, no
credit, an accumulated 6patiug debt, aud
an amount Of past due interest, which, to-
gether with the general disorder Of the or
gsn,zstion, SO that Il had come TO chsllepge
the Ingenuity Of man to regenorate the
road. Aud what do we now see 7 A liv
lag and prosperous corporation q railroad
IN fact, not only safe In all the elements of
physical construction and In its conduct of
traffic, but whose operations are ma ked by
as much regularly as Is to re fjnna upon
any rsilrosd in the State. New cross. ties
have been put In this road thu roughout the
whole line. Fifteen miles OF new Fish rail |
have been laid, and this improvement Is
still going on. New bridges and new de
pots have been erected. Iron bridges are
tskirg the places of the most important |
wooden structures, and the road brs been |
thoroughly equipped with locomotives and |
cars Of the best description, ample for the |
performance OF any amount Of business |
The business OF the company has been
greatly enlarged. For ,hs ak months Of
the current fiscal wear II has been marked
by an advance Of fifteen per cent. upon it,
gross receipts and twenty nine per cent.
upon its net revenue. rs securities have
advanced fhrty per cent. All Of its pas.
due interest has been funded, and It's ma
tured bonds taken IN and new bonds issued.
Interest on part Of this company's funded
debt ives resu1ed last January, and the
whole was resumed on the LIST Of July.
NORFOLK AND PETERSBURG RkIROAD.
We come new to the third or seahosrd
| link in this great Consolidated Line, and
fort tunately have NO occasion to ct p To con
| trast the present with the past condition OF
this rosd-fr if there Is a fnished rRiir"ad
| in This country the Nnrf'lk and Petersburg
railroad may properly bs so classed. In
| evrrv phN steal relation IL msy be charac-
terzad asa first class railroad. Il il 81
mites long, IS Of which are absolutely
straight. The little curvature upon it Is
| light and the grades are essy All the
structures of this road, bnildiugs, water
| stations and bridges, are Of q permanent
character and tasteful 10 design. Tn everv
respect 1t Ia most adm rably appointed, and
| Is fully equipped with the best description
! Of cars and f7st-c,ass engines, all a. .Od ss
new. The rail upon this road Is GA pound
to the yard, OF the Fish j,iut pattern, and
| ss good rs new. The financial condition of
the company Il inrompnrshly superior 10
tha, of any railroad In Virginia, perhaps In
tn, SOUTH. Us funded debt that cannot he
at once d charged by available assets The
business Of this road has steadily increased
since the war, and for siI months Of tie
| current fiscal wear the business statement
exhibits the following results; An increase
In gross revenue Of Z9 per cent. in current
expenses only two-tenths Of one per cent.
an increase 10 net revenue over the cores
p0nding period Of the past year Of loo
per cent, aud a clear net revenue for this
prroi amply more than sufficient, double
ihe amount, in fact, Of interest upon its
funded debt for a whole year. To this Il
should be aided that never yet has this
: corporation failed 10 meet Its semi annual
interest. With all these striking facts be.
} fore us, II can scarcely be NJ cessary 10 say
that no belter can be found an, where in
, this country, either for the safety Of the
investment or the regularity with which
interest is paid.
} Here. then, Is a review Of the Consolida-
ted Line, made from personal observation
: and knowledge Of facts. The subject RI.
ses above mefe individual r local interest
) TIE operations Of this great line vitality
; concern Virginia and the West, especially
! the Virginia cities Of Lynchburg, Rich
mOnd, Petersburg and Norfolk, and the sea
{ board cities Of the Atlantic.-All of these
; communities have an interest In the mainte
! nance OF this line, looking 10 the su
3 perior advantages it presents for con
D dnctipg more promptly aud economi
cally than any other nov in operation, theil
: important uaie with the bouhdlrss West
who-e great basin Il penetrates st Memphis
. and by lateral lines at Nashville and point
; south Of Chattano ga. IL Is ih- main artery
j upon which Virginia and Vuginia citiei
: mus deprhi for the development o
: their resources aud trade II Is their mail
q reliance, and, as We believe, the Onll
& available line through which Virginia aa'
" her atstrr y hteb OF tuo OouNu huu W crb Cal
y confidently ex9 9ect to realize their chsri'he'
n aspiration and ohject-d,rect trade. Blu
IS this great line Is not alone important L
$ them 1t Il also Of material Consequence &
q the mrtr,polis at this continent, the cit
y of N Yrk, whose intelligent busines
II men should note the following fact, We
y On the $4,000, 900 Of pounds of Wester
o produce trabsJnrted over this line last year
,. 80, ,0O0. 900 found their dsstinatiOn at Ne'
't York, whence 23, ,o06 000 pounds OF mel
Is chandise, of the Al, 900 900 carried owe
&c this route, we're shipped.
IS The purpose of this letter Is 10 direct put
a lie attention 10 great trade thoroughtar
% which connects the Mississippi Valley wit
y Virginia sesboard which can be made
~ play great part In the commerce of III
81 whole country, rather than To pay compl
10 neu,s to mere individuals connected wit
70 Its management. But IL would b. nniu
70 10 cl,ss without adding that we are iDdeb
10 ed 10 the Kehius,i energy, devotion ard II
q domitable will OF its President, Gener
= William Malone, for the admirable coud
TO tion, physical aud financial, ,of this line so
y, OF the several corporations composing IL.
st New York, July 81. 1869. VIRGINIA
VI ----------
r. CAPrAIN JO. JAcouSs. This gentleman
IN as will bs seen from our report oi the NEE
n ing OF the Direc ors Of the East Tenncss
ID and Virginia n ,ilroad waa vaaterdlV elec