Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1870-05-31
From the Lexington Gazette.
Valley Rail Road.


The following letter from Judge Shelley, OF
Staunton, to friend in this place, although
not designed for publication, possesses SO muen
Of interest to the people of Roanoke on the
subject of the Valley Railroad, that we take
the liberty of laying it before our readers, and
hope the facts SO lucidy set forth will induce
every voter In the county to cast his ballot in
favor of subscription to the road, on the 4th
Thursday in this month :-Roaaohe Times.
STAUNToN, May u, 1870.
D. B. Strouse, Esq.
Dear Sir-In accordance with your request /
make the following statement In respect to the
terms and conditions of subscriptions to the
stock of the Valley Railroad Company, and
the ability to complete the road from Harrison
burg to Salem in case Augusta county sub
scribes $500, 900 and Roanoke 5000. 900 to the
stock of said Company. / will preface what
have to say, by correcting an erroneous impress
! sion on the minds of some persons to the Ell
! feet. that the road may be commenced at Har-
risonburg and be constructed part OF the
way, and then be stopped for want OF means to
finish it and that the road will cost far more
than the sum proposed to be raised by SUB
scriptons to the stock. Major Randolph S
| first estimate Of the cost for the whole work,
| made, believe in 1866, when gold was worth
| from 1876 to 145, was about six millions OF dol
lars, indeed something above that sum. Last
winter. hewever, he revised his calculations up
On the basis of actual lettings OF the same kind
of work on the Winchester and Strasburg Rail-
road and he reported the cost at $4,400,000
and further stated that, 10 his opinion, this
amount would be diminished by actual lettings
and by some contemplated changes in location.
| [ have no doubt the entire work from Harrison
burg to Salem, can be CONTRACTED for at 81 200,
600, the contractors to take 20 per cent. In the
mortgage bonds of the Company. Again to
meet the apprehension that the road may be
arrested midway in its progress, | can only say,
| that this cannot happen, consistently With the
| conditions connected with the subscriptions. -
The ordinance of the City of Baltimore makes
| the subscription Of that City dependent upon
| the procuring from the counties and towns in
the Valley, and persons and corporations sol
vent and able to pay, the sum of 50, 200, 600.
| Of this sum it is contemplated that 81 200, 900
will be furnished by the counties and towns in
the Valley, and 81, 000,000 by others. OF the
amount required Of the Valley counties and
| towns, Rockbridge has subscribed 100000,
| 800, 600; and in case Augusta subscribes
$500, 900 and Roanoke $500, 900, the sum oil
| ST 200 900 will be secured from the counties
and towns in the Valley. Before Baltimore
subscription can be made, however. the outside
| subscription must be raised to $2,200,000; SO
| that corporations and persons solvent and able
to pay must subscribe at least $1,000, 000-
This we have full confidence will be done, in
deed, it must be done, or nothing can be done.
For, without it, the Baltimore subscription will
not be made, and the county and town sub
scriptions will, likewise, not be made. And,
on the other hand, if the requisite sums be
subscribed by others, and the counties and
towns Go not make up the amount required of
them, as condition precedent, by the Balti-
more ordinance, the whole enterprise must fail,
because the ordinance referred to, is based upon
the idea that the interest of the counties and
towns In the Valley must be identified with
those of the City of Baltimore, as co-share-
holders in the road. and that certain sum, at
least must be subscribed by them before the
Baltimore subscription shall be made.
Again the Baltimore ordinance, as further
condition precedent, requires, that before the
city's subscription shall be made, the Commits
sioners of Finance of the City of Baltimore
pany, Jy additional subscriptions Of stock or
otheraoise has made adequate precision for the
construction and completion Of the entire road
from Hurasonburg to Salem, according to the
Charter.
First, Then, $3,200,OO0 mast be raised by
stock subscriptions to begin with.
Second, Whatever it costs, besides, to COM
municate the Uboie work, must be provided for.
Third, From all this, it is clear. that no Com
pany has been organized in Virginia on a
broader basis than this will stand upon, when
it begins It's operations.
will add, that the road will pay, and be OPP
Grated as soon as 1t IS constructed Southwest OF
Electromagnetic Manassas Gap Company
agreeing to run their trains over it as it is made
and to pay to the Company sixty per cent. OF
the gross amounts received for freight and pas
senger fare. 0
And, as by the recent act Of Assembly, the
twenty mile restriction has been removed,
We can have the whole road completed to Sa-
lem promptly, and not be compelled to wait
until one year after the completion Of the Ches-
apeake and Ohio Road to the Ohio River
The success of the whole enterprise will depend
upon the votes Of Augusta and Roanoke and [
have confidence that those rich counties will
not let it fall to the ground.
Yours truly,
HUGH W. SHEFFEY.