The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1869-08-02
A Surprise and o Breakdown.


Western Railroad Company was held in
Danville. The company met to elect Off
GERS and transact ordinary business; but
the session WAS marked by an extraordi-
nary sensation, which electrified the town
as well as the company. This was nothing
less than proposition to subscribe 81 ,ooO,-
900 to the stock of the company by Messrs.
ROLLS c. LINK s. Co., of Philadelphia. II
was indeed startling proposition, and i'm
parted so much surprise that those inte-
rested could hardly enjoy the feeling OF
satisfaction which such an announcement
should inspire.
1t appears that Messrs. OULD and CAR
RISGToN, of this city, were attorneys Tor
LINK s. Co., and had, before the meeting
was held, offered to the treasurer the SUBJ
scription of 100000 in behalf Of their
clients, which the treasurer declined to re-
ceiye without first consulting the president.
On the day following Mr.. ROLLS c. LINK,
Of the firm, made similar tender, which
was declined in the same manner.
A committee appointed by the stockhold-
ers ascertained these facts and reported
them.
Pending tho consideration of the subject
in meeting of stockholders, Colonel FLOUR
NoY, president of the company, inquired OF
Messrs. 0ULp and CARRISGToN what infor-
nation they had relative to the connection
G. ~ 10
DARLINGTON stated that he had made inqui-
ries concerning the matter, and that he had
learned much to induce him to believe that
they were what they represented themselves
to be. Major CARRlNGToN then sustained
the proposition of LINK l. Co. in On earnest
argument.
Judge 0ULD followed in the same line Of
argument. He stated that Judge HURST, OF
Philadelphia, confirmed every representa-
ton made by LINK & Co. He had seen
nothing to create shadow OF doubt that
they were acting in good faith but the best
evidence was their readiness to pay down at
once the first instalment, the earnest money
of ten per ccnt.-S700, 900.
Mr.. r. C. LINK, who is described ms a
youthful looking man not over twenty-five,
made statement. He had come to Danville
in January to ascertain on what terms he
could get the control of the Great Western
railroad he repeated the effort without sue
cess. He went to England in June, and was
instructed by his company to see what it
would cost to get control Of the road. His
firm was On extensive one, of ample means,
and had been engaged largely in building
railroads, both in this country and in Eu-
rope. He then went on to show what they
proposed to do. They proposed to build an
airline road with steel rails and iron
bridges, with as low grade as possible, and
to finish it by the lst of January, 1872
l. e., 3G5 miles in q little over two years.
They would have thousand men on the
work in short time. He announced that
the famous McIIENRY, of England, lin |
rather bad repute there,) was concerned
with them. Mr.. LINK also stated that the
$780, 900 would be paid down promptly. /
Colonel FLoURNoY said that if LINK & |
Co. subscribed as they proposed they would
acquire control of the road. Yet if the COM
pany favored their proposition he hoped
they would feel no embarrassment on his |
account. He wanted the road completed,
and would be happy to see il pass into other
hands if that would assure its early COM
pletion. General IMBoDEN was present
with q competing proposition from the In
ternational Land Company Of New York,
which, according to his statement, was not
only willing to build the road, but would
undertake to settle it up with industrious |
immigrants for the space of twenty miles
on each side of it. He stated that HORACE
GREELEY, DUNCAN, SHERMAN s. Co., JAY |
COOKE & Co., and other prominent men,
were large shareholders, &c. He attacked |
LINKS scheme as diverting the control of-the |
road from the hands of Virginians, which
his did not, and threw suspicious upon it
as being in the interest of certain northern
lines-the Pennsylvania Central and Balti-
more and Ohio railroads-the design being
to prevent the completion OF the Norfolk
and Great Western line. As for the ten per
cent. subscription of 100000, as LINK
Co. would have control of the road, they
might pay it back to themselves tomorrow.
Mr.. Guild defended LINZ s. Co., and
charged upon the great Land Company. He
ridiculed the apprehensions about schemes
to prevent the construction of the Norfolk
and Great Western road-that was q mere
bugaboo. But LINK & Co. would do the
work by January, 1872, as they had the
"rhino" to put down. He had himself
seen the spondulics.'
DR.. PRETLow proposed to refer both
schemes to special committee, with in
structions to contract within thirty days
with the party who proposed the best
scheme. There was great deal said about
the grandeur of the enterprise, and its con-
nections With the Pacific route rid San
Diego. The scheme was frequently pro-
nounced the grandest ever projected.
DR.. PRETIow's proposition was voted
down. General IMBODEN's scheme met the
same fate, and then the stockholders &C.
copied the subscription of LINK & Co.
And 1,oac this bright sunshine seemed to
have been suddenly withdrawn, and the
company left in profound and impenetra-
bic fog. The arrangement of some out
standing claims against the company-not
large-seemed to have been brought up by