Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1870-02-22

AN IMPORTANT RAILROAD LINE.-Au i'm
portant step toward reviviDg the material pros
pcriy of Virginia and West Virginia, whereby
their great natural advantages of soil, climate,
and mineral deposits will be- made available for
4 greater and more active industry, has just
been taken by several prominent New York
capitalists in Identifying themselves with the
great railroad line which extends between Rich
mond and the Ohio River, now known as the
Chesapeake and Ohio Railroad This line in
cudcs tho old Virginia Central, and the Gov
iugton and Ohio roads, both of which received
from the State prior to the war u large amount
Of adm the aggregate more than So, gu, 200.
This expenditure the State now surrenders to
the new Corporation on worry favorable terms.
The road is in operation from Richmond to the
GINA, 22ii miles, and it is believed can be COM
plcted to the Ohio (oOO miles, by the close Of
1911. Among the promoters OF the enterprise
arc NIessrs. G. =. Huntington of the Central
Pacific Railroad, A. A. Low, William II. As
pinwall, David Stewart, and ctbers Of Ne
York city; Messrs. Wickham, Anderson, Ech-
OILS, and Parsons, of Virginia; with Messrs.
Fisk T. Hatch as the Financial AGENTS Of thc
GG%9a a ihc T vSor and filthy with which the
great work will be carried through
The completion of this line to tho Ohio River
brings it within short distance Of the import
ant railroad ccntcrs of Columbus, Dayton, Gin
cinnati, and Louisville, from which tributary
| lines arc projected and building, by which the
| Chcsapeakc and Ohio Railroad will establish
| Throurh Line from the seahoard to the great
| West. Beside bcirg the shortestllne from tide
| water to Western cities it will have the great
| advantage Of grades much lighter than any OF
the more northery 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
norton Of the route, the active iron furnaces OF
| Southern Ohio at its western turminuS and
between the two are those ineXhaustlble veins
| Of "snliut' coal, 80 necessary Tor iron manutac-
turc.
This line will furnish the necessary outlet tor
the fertile tract of country between the Cum
berland and the Kanawha and will draw over
it the wheat Of Minnesota, and the cotton OF
Tenncsser, Mississippi, and Arkansas, together
with The cattle, wheat, and tobacco OF the IN.
tcrnediae region, as it unitcs 5000 miles of
inland navigation and 10000 miles Of railroad
in The West to the 1ast harbor on the Atlantic
coast, by the shortest and most economical line
to be- found. The coal and iron traffic Of The
road alone will be enormous.
The Chesapeake and Ohio is already pre-
Gtab!e enterprise from its local business mere;
when completed to the Ohio. it must become
one cf the most successful roads in the country.
Th,. enterprise is in efficient and honorable
hands. the debt upon the road is inconsidcra-
bic, and The prospect Of rcmunerative traffic
very flattcrnc.
The first Mortgage Bonds Of the Chesapeake
and Ohio r. Il. Co., offered for sale by Mcssrs.
Fisk Il Hatch, the well known New \ osk Bank
ers, will at once attract the attention and com
man the confidence OF capitalists as very supe
| riOr investment.
The loans heretofore recommen led and ne
goliatcd by this hOusc--now recognized rs
among the standard ard !avortc securities i.
the markets Of both this country and Europe
: hear testimony to the disccrnmcnt and judg
mcnt exercise by them in the selection and ap
provai of loans.