Bristol news. [volume] (Bristol, Va. & Tenn.) 1867-189?, 1869-08-06
THE VIRGINIA AND TENN. AIRLINE.
The Commerce of the Cou,,ty.
tFrom the Now York Tribune.l

The Commerce Of the County.
tFrom the Now York Tribuns.l
The great consolidated Virginia line,
which embraces three important railroads
to-wit: The Virginia and Tennessee, the
Snuthside. and the Norfolk and Petersburg,
Is OF such magnitude, Of such capacity for
through as we'll as local business, and il so
imports mt in Its manifold relations to the
whole country as to challenge au irteres- cd
attention IN all the centres OF business and
capital. i, therefore, propose TO take q
somewhat extended and critical review of
the line and Of the several roads compos
ing 1t, nosing such improvements as blV,
occurred in their properties, business and
finances siuco the policy Of com old alton
was iusugnrated under President Mshor 9.
THE VIRGINIA AND TENN EssEE RAILROAD.
Thi- road came into what ia known 10 |
tue public as ;h- Gte,' SpnIh sid. Console |
dsth'n, dn"ni Year ana a half ago. Re !
mrmbering its 'iiiapidsttd condition in re-
pcet u"t tniy g It's property but To- its |
finances and credit, IL may MT he ami>s OF |
un,Ds 1ctive e. c ntrsst the pr' sent bright |
aud pleasing 'tae VI It's affairs with The |
me'ancholy condition II preserved when IL |
Game into the CONSOLIDATE N. Your cores |
p"ndent's desire 10 p-rform this work &C.
curstely is such that he has taken the |
trouble to examine into the aff,irs Of this |
cooperation personally aud cinsely. The
tact Is that eighteen months ago this link
IN he railway chain connecting the ses-
| board AT Norfolk with the Mississippi at
Memphis, was almost hoPefessly bankrup'.
Its credit had gone, tot being snfli 'i-ut
| even To procure Ordinary daily sup, lies.
| Interest upon its bonded debt had BEEN al.
lowed to accumulate Ia the sx 'ent of S300,,
600 or $500 900, and a floating debt of over
| $1,000 had heen added to the burden -
Its railway track, badly worn and suffering
for new rails and cross-ties, was In the mud
IL was al NJ print in god order. Its roll
ing stock, cars ard engines, alto. ether IN
adequate to the local business of the rold
were at best limited and inf friOr. NJ n, of
its bridges aud depots destroyed during the
| war, were yet To be replaced, and with all
this its orgsn'zl zltion, cumbersome and oV r
grown, had become inefficient aud uuen
duTably expensive. How stands the Gaze
now 10 the brief period Of about eight on
months the credit of the corporation has
come TO stand in the monetary circles at
home and abroad as 0rst-class; its paper
is everywhere marketable and acceptable
at the lowest rates ruling and, remarka.
BILE TO say, at no time has this compsny's
paper gone 10 protest. On the contrary,
its bonds have steadily advanced 10 the
market, even under the damper and dis
advantages OF suspension Of the pay ment
OF interest, until they are now sought after
at an advanced rate over that period of
fully twenty five per cent, A new life Is
Observable In the whole concern, and a
marked and permanent Improvement in its
property is everywhere discernible. The
railway track has been put in good condi
tion, and for great part laid upon a we'll
bsllasted bed Of rocks; fdeen mileS Of
new railS Of the Fish joint pattern have
been laid thousands of new cross ties
have been put In, aud this work Is still
, bravely going on new bridges and new de-
pots have been erected, and 4 large num-
| Der of cars and ten 6rst-clsss new Mason
engines have been added to the rolling
stock. But furtf er, we soc by the last
semi annual statement of the company
that there has been marvellous reduction
: 10 its current expenses. And here let us
, boar IN mind that II Is not what one makes
or gains, but II is the difference between
what he earns and his expenses, having re-
/. gard to the Improvement 81 exhaustive oi
bis resources, that deter mines his real sJfb
stance This applies TO railroads as tC
farming operations aud to other pursuits
IL Is to be- observed that there has been mol
only an Increase In the capacity of thi,
corporation to accommodate the trsfiiC
J Sa .,a"du ino, a. l.. "us ne .nvo .nI na.
a.h.as 49,. ,",nar,.n, "a 80 LIN ,,ar. sns
S,srast 10 ~ knngboIda,s No discovsr n,
: ,hs, comnsn,'s saroiesnnnsT s,a,.rsnt IN !,
In the first ak mouths Of the current fisca
& year there has be, earned net revenue
u quite equal to tho interest upon itsentir'
,r funded debt for a whole year. But VI
nsrcs,va ,hst n ha. haer The oolicy of AZ,
Is comnany. and from our observation Il Is
wisa noiicy 10 sppIy ia earnings 10 the psr
nsnant improyement of the property. I,
It make safe tis principal Of tho bondholder
!. and 10 secure The assurance that intrres
once resumed will he maintained. Updr