The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1871-03-22
VOL. XII.


associates, and a certificate Of deposit signed
by Treasurer Rye.
Mr.. TAYLOR then asked that the prop
osition Of Messrs. Ellyson & Co. aud accom-
panying documents be read.
The President stated that those papers
were in the hands of the Clerk of the House
of Delegates.
Mr.. CARR, Us one of the sicncrs Of the mi
nority report, made q few remarks. He was
an admirer of General Malone. That gen.
tleman was certainly one Of the smartest of
Southern railroad men, and he had certain
ly played some pretty smart pranks.
Here Mr.. CARR was interrupted by MIR.
Snowden, who raised the point that discus.
sion of the merits Of the bill was not now in
order.
The President sustained the point of Or
der.
A resolution was then adopted requesting
the Clerk of the House Of Delegates to send
the Senate copy Of the papers relating to
the proposition of Eilyson and others. 1t
was done.
Remarks Of Colonel Pendleton, Of
B0fetOurt.
Mr.. PENpLEToN said he felt it his duty to
explain why he was constrained to vote
against the report of the committee and for
the bill as it came from the House Of Dele
gates. If proposition had been made
when this Legislature first assembled to buy
at par in State bonds the States interest in
one of our works of internal improvement,
1t would have been gladly accepted. Little
inquiry would have been made as to who
the proposed purchaser was or where he
came from. 1t would have been rightly
considered that we were poor, and here was
a chance to
REPLENISH OUR TREASURY,
and the opportunity would have been i'm
mediately and gladly embraced. Indeed,
when the first proposition of the kind was
made-when bill was introduced selling
the States interest in the Richmond and
Danvillc railroad-it passed the Senate
mem. con. This policy had been steadfastly
adhered to by the General Assembly in
every instance. 1t is within the memory Of
all that, even when an offer had been re-
ceived by telegram from distinguished
gentleman Of Staunton, on behalf OF out
side parties, Offering much more than its
market value for the State stock in the Vlr-
ginia and Tennessee railroad, the Leglsla-
ture had adhered to this policy, and with
singular unanimity rejected the outside Of
fer, Notwithstanding the higher price held
out as an inducement to sell.
GEN. MAHoNE's CHANGED VIEWS.
Gen. Mahone's friends were them the most
outspoken in the enunciation Of the doc
trine that preference should be gwen in the
sale to the stockholders Of the State. Yet
he and his friends were actually the first to
abandon it, as shown by his cool PROPOSE
ton that the Richmond and Petersburg
railroad should be turned over to him, and
Tor Il small amount. When q proposition SO
extraordinary in its character is made IL is
right to demand the reasons for the eXcep-
tons to the rule. He (Alr. PendIeton) con-
tended that no good reason had been
shown for the exception, and that none
could be shown. The
CLAIMS OF ELLYSoN co.
On the other hand, the parties competing
with Gen. Malone for the possession OF the
Richmond and Petersburg railroad have
already, accepting our invitation to capl-
talsts to invest their means with us, in
vested large amount in that road, and
own almost if not quite majority of the
private stock. Is the Legislature prepared
to break faith with them, and sacrifice its
stock to please
SOME PAMPERED FAyoRlTE OF The GENERAL
ASSEMBLY!
Who is this new purchaser who comes
forward, rudely demanding that the Rich
mond and Petersburg railroad shall be
bound and delivered over to him? The
real purchaser is the Atlantic, Mississippi
and Ohio Railroad Company. And who is
the Atlantic, Mississippi and Ohio Railroad
Company? Louis the Fourteenth said |:
"L'etat c'est moi" Who does not know
that
THE ATLANTIC, MISSISSIPPI AND OHIO RAIL-
ROAD COMPANY IS GEN. WIN. MALONE,
who directs all its movements and controls
its policy? He looms up as the central
figure in the group, and all the crust
work will be thrown aside as soon as his
purpose is accomplished.
! find amongst the group certain old
Scotch merchants of Petersburg
., Caledonia stern and wild,
Meet nurse OF pacific child!
Thou hast never in thy widest moments
produced the sons of unthrift. Whatever
vices thy sons may have, they never spend
their money in vainglorious undertakings.
Why are these Scotchmen here? What
| profit is it to them? What security have
they? Why have they put their names to
this paper. The State of Virginia owns
1856 shares Of stock In the Richmond
and Petersburg Railroad Company,
for which they now propose to pay
5000 per share, amounting in the aggregate
to S771 200 in State bonds, worth, they say,
| on the streets Of Richmond, ffty-fve cents,
which would be in cash Sl.10 per share. or
1921 $50. This stock was last November
considered enormously high at thirty-hve
cents. 1t has paid no dividend since, and
there has been no Improvement in its in
trinsic value. Have these old Scotchmen
so entirely forgotten their devotion to Gale.
donia, and have they become so enamored
of Virginia, that they are willingto pay $1.1O
for stock which four months ago rated high
at IS, and has not since improved. In ad-
dition, the Richmond and Petersburg rail-
road is subject to mortgage Of S326,OO0,