The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1871-01-05

L
tractcd to this road from &c fact that their
line was locked up at Baltimore, and they
were unable to make Satisfactory arrange
ments to get freight and passengers through
to Washington. That Spmpany lis now
building line from Baltiaore to Washing
ton under charter from the Maryland
Legislature. When we gpeto Washington
we found we were still as bad of. There WINS
agap between Alexandria and Fredericks-
fburg which there had been ne effort to fill.
| 1t was subject to interruption from Ice
In winter, and was unreliable. Parties
approached the Pennsylvania Central with
an offer TO- sell the franchise of the Alex
andria and Fredericksburg railroad. Mr.
Lincoln was the party, and said chat he
had control of the charter. We examined
the matter, and found that the charter was
Imperfect that 800, 900 had been expended
on the road, and that $4,000 had been
issued by the company to pay for it. We
told Mr.. Lincoln that if he would get the
charter perfected and made so as to extend
70 the end of the Long Bridge, and
would bring us all the bonds and stock
OF the company, we would pay him
$50, 900. In the early part of June,
1870, he brought to us the charter, per-
fected as we wished, except q proriso
that the line from Alexandria TO Washing
ton should not be constructed until the line
from Alexandria to Fredericksburg had
been completed. This proviso, which was
Objectionable, he explained by saying that
it was inserted by another interest to give
| them the advantage of few months more
control of the traffic. We accepted the
charter. Mr.. Lincoln then brought us all
the bonds, stocks, &C., of the company, and
the designations of the President and Direc-
tors. l then gave him my check for S40,0 900.
We since changed q part of the location of
the road and are now working on it.
In the early part of the spring we thought
we could make connection at Fredericks-
burg with the Richmond and Fredericks-
burg Railroad Company. Mr.. Moncure
Robinson told me that he owned stock
enough in the Richmond, Fredericksburg
and Potomac railroad, and controlled
enough held in England to carry any point
he might promise. That company desired
to build the first 10 miles Of the road, and
Mr.. Scott, our agent, agreed to it. should
not have done it. The agreement entered
into between the Richmond, Frederieks-
burg and Potomac railroad was that the
two roads should be run as an unit, and
we should have the right to put agents any,
where south to solicit freight for any
point north, the Richmond, Frede-
ricksburg and Pot omac Railroad Company
to receive its pro rata. Mr.. Robinson
submitted the proposition to Mr.. Daniel,
President of his road, and afterwards said
it was rejected, and gave several reasons
for it-one Of them, that he owned several
steamers, and the Pennsylvania Central
might put freight down so as to render
them useless. We then made another pro-
position: to lease the Richmond, Frednr-
icksburg and Potomac railroad, and pay to
the shareholders per cent. That was re-
fused. We then. offered to buy out the
stock at so per cent. above the market price.
That was refused. We offered to buy his
stock, and he fixed the price at =, 900, 900.
OF course that was out Of the
question. We could build a road at
half the money. He estimated the
value of the road at $3,OOO,000 and its
not being taxed by the State at 81 1000, 600
additional. We didn't believe that the
State would long exempt it from this taxa
ton, and thought the value set was ticti-
tious. We then saw no other way but to
apply to the Legislature, and we now pro-
pose to build road from the end of the
Long Bridge to Richmond to carry passen-
gers from Richmond to Washington at one
half the price and in one-half the time. We
are forced to ask this from the Legislature
in view Of our investments in Virginia. We
, understood that Mr.. Robinson was able to
sink, and was sinking, his interests in the
roads in which he was interested in order
that he might make his property in steam.
boats more valuable.
With reference to the legality OF the COM
pany whose road we purchased, that ques-
tion has been tried in two courts with, to
US, successful results. We knew nothing,
and suspected nothing, Of fraud. AL the
agent who sold to us contracted to do, he
did in good faith, and got his money. We
have seen nothing to move us from our be.
lief that the company was legal, and the
transaction perfectly fair. All the stocks,
bonds, &C., brought to us we investi-
gated and believed to be correct and be-
leving so, we stand upon the legality of our
position.
THE MONEY ALREADY PAID BY THE PENNSYL-
VANIA CENTRAL.
We haye paid for this road $4,000; s15,-
900 for engineering and $4,000 for turn
pike road which we intend to use. We
supposed that if there was anything wrong
in the original charter that the Legislature
would have cured it when it revived the
charter. We never had any suspicion Of
fraud in the matter. 1t is one hundred
miles Ivy the road we wish to build from
Alexandria to Richmond, about sixty miles
shorter than the present route. MIR. Mon
cure Robinson is going on to build the ten
miles of road, expecting to connect with us
at the end of it.
THE PENNSYLVANIA CENTRAL COMPANY HAS
CONTRACTED TO TAKE $400, 1000 IN BONDS
of the Alexandria and Fredericksburg
Railroad Company, at par. 1t backs that
road in its construction from Alexandria to
Richmond. The money is already collected
for that purpose, and is now out at interest
u2 per cent?. l paid 81 for coming here
, from Washington. We can carry passen-
gers between Richmond and Washington
at 1926, and passengers can go to WASH