The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1869-11-30
c,,o.onealse and Ohio Railroad.

WESTON i. Will the HUNTINGDON company
noyn,etr the road? II they do, the COM
,,,r win he Unidentified for the sacrihcc
made in the bargain with theln. II 'n
f,i, to complete the road, theh thes wa
Mace the company and the State at i sie".
disadvantage indeed, but they lose the gle'''
>..,,,s "a themselves which constitute thst
soo+,rc in the contract which Is called the
sn,ri8co--yiz.. eight millions of dollars OF
shoras in the stock of the company. ana
mic sacrifice Is the guarantee ior 'nc
comnletion of the road. 30 great "li '"''
rc<, stimulating the contractors 10 Inc CON-
,,n.;on OF what they undertake must VI
no,,s;dorcd one of the strongest OF guarah-
.ons Nothing could defeat the performance
of work which brings so vast pro''' ~
i,s undertakers but a want OF means anu
r,roo Now. can we suppose that either
will be wanting in such men as HUNTING
nos LOWE, STEWART, AsPISwALL' anu 'nen
colleagues? Relying upon the powerful hio-
t,,.e which must stimulate them, ana theii
nroverbial sagacity, energy, ana lmllensc
wealth, we must regard the complexion Vi
tho Chesapeake and Ohio railroad unoei
their auspices as one oil the most cei'"'n "a
events vet to be accomplished.
The competing proposition brought III at
III. eleventh hour by an unknown Seh'ie-
man without such credentials rs are re-
,,orded INDISPENSABLE in all business, anu
esncciallv financial transactions, was most
,rnnerlv rejected. This gentleman, Nr'
r,arrr smoke for 4 firm called "SMiTu "
Co.." of London. Even so rcspectao'e
name as Smith could hardly pass Tor NIL
lions unsupported by proper TESTIMONIALS Oh
crodit We could hardly see how even
Jous s., with his great and universall!-
honored name, could expect his dralt lor
moro Than 4 million to be honored WITHOUT
.hor,, Ruta telegram from the Westminster
Bank. received after the difficulty about Gre
fcntials had been raised, said that that BANK
hod had connections with SMITH d 90. a.
,.soy;c;t0rs Not bankerS-and that they
were "reliable" men and this reliable,
we take it, hardly meant that they ""r.
GOOD for s.. 900. 600, but were men of good
report. wouldn't lie, and might he trusted
rs other Trustworthy men who TO not ash
In he trusted Tor more than they are worth
without security. The company here haa
no knowledge that this answer OF the west
minister Bank was written with the KNOW
ledge that SMITH & Co., through CARTER,
nronosed to assume any such obligation as
$4,000, 600; and if not written Win tiiaI
knowledge, it was not entitled TO be con-
sidcrcd.
It seems that McGISSEss S Co. were IN
correspondence with the parties, and tnre"
their influence in favor Of SMITH 60. But
when we consider that MCG1SNEss d co.
have had a sort Of financial agency for the
Chesapeake and Ohio Railroad Company for
\ wear or more, and have utterly failed 10 Sc
cure for the company any material assist
ance. their recommendation could hardly
be of much help to SMITH Co. AND III
another view Of the probable connection Of
McGISSrss & Co. with the movement. their
appearance in the matter ut all was justly |
damaging.
The company might we'll ask itself, Shall
we reject the HUSTISGDoN contract, ana be
thrown once more upon the broad ocean OF
embarrassment and uncertainty, to enter
into negotiations with an unknown com
nany in London, represented here by an
unknown man, without letters OF credit.
whose best recommendation is from house
in this country whose efforts to assist the
company have failed?
The fact is, the whole proceeding in this
proposition introduced by CARTER was SO
much like that Of " Link d Co." ut Dan
vile, that our reporter inadvertently wrote
the name CLINE e Co." instead of "SMTH
& Co." in his report of the proceedings of
the stockholders meeting. CARTER said he
would get the endorsement of the BARISGs.
The committee waited for it, and it never
came. Precisely the same happened with
LINK! In neither case was there any show
o. spondulics."
Our opinion is that had the company
thrown off HUNTINGDON & Co. to take hold
of SMITH & Co.'s bait they would have been
nicely hooked. indeed. They would have
waited long for another proposition from
real capitalists in this country and we can
not think that the suspicious and utterly
unsupported proposal from London would
have ever resulted in anything but dlsap-
pointment and embarrassment.
Well, the HUNTINGDON scheme Is nlaugu-
rated. HUNTINGDON is President of the
Chesapeake and Ohio railroad, and the di-
rectory is composed of the men he and his
colleagues indicated as proper men to direct
the affairs of the company. According, also,
to their wish, General WIcKHAW is Vice
President. and will probably be the acting
president, with the occasional supervision
of Mr.. HUNTINGDON. Thus the control OF
the company is translated to New York; but
the interest controlled is fast anchored here.
in Virginia and West Virginia, in property
that is immovable: and it becomes the IN
forest Of these capitalists and directors III
New York to promote our interests. There
fore we are safe and if by the scheme we
infuse into the great work in question life
and activity which will hurry it to early
completion, and secure for 1t the most eff
cient mana cement. we will be more than
comp ensated for the great bonus given to
the men of New York.
Anxiety has been expressed for the safety
OF our State and local interests with this
great work in the hands Of New York capi-
talists. We think they are unfounded.
New York is too great city to be engaged
in the small business Of warning upon the
commerce Of smaller cities. She is too pow
erful to be mean, too well assured of supre-
macy to tyrannizc and hector over interiors.
The interests Of this city and New York are
entirely harmonious And were they not