Gallipolis journal. [volume] (Gallipolis, Ohio) 1837-1919, 1870-03-03
An Important Railroad Line.

An important step toward reyiylng
the material prosperity of Virginia and
West Virginia, whereby their great
natural advantages of soil, climate, and
mineral deposits viii be made available
for greater and more active industry,
has Just been taken by several promi-
nent New York capitalists in identify
ing themselves with the great railroad
line which extends between Richmond
and the Ohio river, now known as the
CHESAPEAKE AND ONO RAILROAD. This
line includes the old Virginia Central,
and the Covington and Ohio roads,
both of which received from the State
prior TO the war large amount of aid
in the aggregate more than $780,
600. This expenditure the State now
surrenders to the new Corporation on
very favorable terms. The road is in
operation from Richmond to the famous
White Sulphur Springs of West Vir-
ginia, 927 miles, and it is believed can
be completed to the Ohio (2o0 miles)
by the close of 1871. Among the pro-
moters of the enterprise are Messrs. c.
P. HuNT1NGToN of the Central Pacific
Railroad, A. A. Low, WILLIAM Fl. AS
PINwALL, DAVID STEWART, and others,
of New York city; Messrs. WIcRHAM,
ANDERSON, EcHoLs, and PARSONS, Of
Virginia; with Messrs. FISK IL HATCH
as the Financial Agents of the Com
pany. These names are sufficient
guarantee of the vigor and fidelity with
which the great work will be carried
through.
The completion of this line to the
Ohio river brings it within short dis
lance Of the important railroad centers
of Columbus, Dayton, Cincinnati, and
Louisville, from which tributary lines
are projected and building, by which
the Chesapeake and Ohio Railroad will
establish a Through Line from the
seaboard to the great West. Besides
being the shortest line from tide-water
to Western cities, il will have the great
advantage of grades much lighter than
any of the more northerly lines. 1t
passes through the great coal fields of
the Kanawha, and will have cheap and
abundant fuel The celebrated iron
ores of Virginia are situated on the
central portion of the route, the active
iron furnaces of Southern Ohio at its
western terminus; and between thetwo
are these inexhaustible veins Of 'splint"
coal, SO necessary for iron manufac-
ture.
This line will furnish the necessary
outlet for the fertile tract Of country be-
tween the Cumberland and the Kanaw-
ha, and will draw over it the wheat of
the cotton of Tennessee,
Mississippi, and Arkansas, together
with the cattle, wheat, and tobacco of
the intermediate region, as it unites
10000 miles Of inland navigation and
1000 miles of railroad in the West, /
to the best harbor on the Atlantic
coast, by the shortest and most eco-
nomical line to be found.ig The eoal |
and iron traffic of the road alone will
be enormous.
The Chesapeake and Ohio is already |
profitable enterprisefrom its local hu7
siness merely; when completed to the
Ohio, it must become one of the most
successful roads in The country. The
is in efficient and honorable
hands, the debt upon the road is incon-
and the prospect of remuner-
alive traffic very Aattering.
The FIRST MoRreAeE BoEDs Of the
CHESAPEAKE AND ONO R. R. Co., Of
cred for sale by Messrs. FISK d HATCH,
the well-known New York Bankers,
will at once attract the attention and
command the confidence of capitalists
as very superior investment. 1
The loans heretofore recommended I
and negotiated by this bouse-now
recognized as among the standard and
favorite securities in the markets af
both this country and Europe--besr
testimony to The. discernment and indg.
ment exercised by them in the seleee-