The Daily state journal. [volume] (Alexandria, Va.) 1868-1874, 1871-08-09
THE VIRGINIA INTERNATIONAL LAND
COMPANY

THE VIRGINIA INTERNATIONAL LAND
COMPANY.
The Virginia International Land company
is apparently emerging from its inchoate
state. Mr.. Gurnee, the new president, has
fully demonstrated his ability and tact in
managing land enterprises in the West,
making them profitable to the original own
ers and attractive to solid immigration
Other gentlemen associated with him COM
mand large capital, and if Colonel Flour
noy cannot talk the scheme into favor with
those who lack nothing but persuasion to
induce them to take stock, his tongue has |
lost its natural eloquence. Perhaps it is a
mistake, but the suspicion will obtrude, that
the real objective point of these gentlemen
lies many miles west of Virginia; and the
plans of the company, so far as developed,
only look to supplying missing Link in the
Norfolk and Great Western railroad, and
starting loan and discount offices wherever
borrowers with good security are plentiful,
aud money scarce. Would it not be more
in accord with the promises which induced
the Legislature to grant this company so
liberal charter, if local railroad enter
prises had consideration FIRST, as sup
plying an urgent need, and, by supplying
that need, increasing the taxable value Of
property; and second, as being less
speculative investment, and so yielding more
certain profit to stockholders.
1t is well known that existing trunk
lines of railroad in the State, generally ira
verse the ridges, where land is thin and
poor, and unfavorable for farming while
settlers object to purchasing at a distance
from the road because of the greater isola-
regular gauge cross railroads is of course
out of the question, but it is certainly feas-
ible in many places to build marrow
gauge" railroads, and these enterprises seem
to come legitimately within the field which
should be occupied by the Virginia Interna-
tional Land company, and from which, if
prudently managed, the stockholders would
realize ample profit.
AS an example in brief, and perhaps not
mathematically correct, being hastily
tirawn, take the projected narrow-gauge
railroad from Stanardsyille to Keysville:
Seventy-two miles regular-gauge rail-
road at $50 900 per so 160, 900
Seyentytwo miles narrow gauge rail
road at ST., u00per mle-.-........... $S64, 000
Difference in cost ,zs6, 600
The narow-gauge railroad being really a
steam pike, will be of more direct benefit
to farmers along the line, than regular
,ra,,oa mo t,.a raiIrood ,,ok;no fayu cfon.
pages. Now, it appears reasonable, that
crossroads, such as these, opening up an
entirely ne,o and better farming country,
and giving equal if not greater facilities
than the present regular gauge roads to
settlers, who now refuse to purchase at any
great distance from them, would enhance
the value of land on each side of the
track-say, to five miles, SO per acre; from
five to ten miles, 81 per acre; and from
ten to twenty miles, so cents per acre.
Let us see how this account will stand,
taking the 72-me road above alluded to,
and assuming only one-third of the land
included within these limits as arabic and
salable: ~
One-third of area ~ miles by 10 T
miles 1885, 600 acres
One-third of area y miles by 10
miles wide 1907 200 acres
l53, GOO acres, first area, So per acre$307, 200
1900 acres, second area, 81 per
acre. ....,.,..."..--............. 1853 600
10000 acres, third area, $50 per M
acre. 1858, 600
Totai..... $el4 400 -
OF course it is not supposable that sucl
railroad will receive land subscription Of
anything near one-third of the area cover
to full extent received, such land subscrip
ton can certainly be made exceedingly pro-
titable by company dixie this Land com.
pany is supposed to be) which could receive
the lands, either by sale or hypothecation
and build the road, bringing the land into
an active and profitable market. &
What an increase of taxable values thes,
operations would absolutely CREATE
while immigrants would be induced tt
bring in much larger sum, as working
capital, stock, and fixtures. Further
properly and economically managed, sucl
roads will pay reasonable dividend upol
the investment, and contribute to the relic
of over-strained, if not hopeless, tax-pay
ers. .k 4
The Virginia International Land, &c.
company will find in such enterprises, lie
climate and profitable undertakings ant
it is to be hoped, landholders whose pro
perty lies adjacent to the lines ofprojecte
or decided cross narrow gauge railroads, vii
make suchpropositions to this wealthy com
pany, as will induce it to invest in loca
works of internal improvement.
- X
A house on the north side of King street
in Alexandra, took fire from the explosion
of an oil lamp. The flames were extin
guished before anything was damaged.
Two of Pullman,s nalace sleeninn-car