Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1871-11-30


Small balance of State of Virginia ,,o
piIIs roceiv.hIn S29 IL
| Inventory of wood, crusS-tic5 and ~,
material purchased and not used. il,Ilu 10
Total S.;SS.l73 50
GENERAL POLICY.
Several acts Of assembly were passed at the
last session Of the Legislature of Virginia re-
lative to this company which call for formal ac-
ceptance on your part Some OF these acts
were passed in accordance with resolutions
adopted ut former meetings, and DO not require
special explanation now; rs the acts to Issue pew
certificates Of stock for purposes oil uniformity
and to fund the several mortgages executed ~
the company, and to guarantee certain bonds
for the Lynchburg i Danville Railroad Co.
| The act to allow the company TO construct L
connecting link of their railroad between Cor
louisville and Charlottesville was accepted BY the
stockholders ut the special meeting III Septem-
| Der last. 1t is not expected that any lmmedl
ate necessity will arise for the exercise OF TINS
authority. as the Chesapeake l. OHIO Railroad
now extends between these points and furnish .
| eS accommodation 1T present Tor passage u!
trains and the purposes OF the company lt IS
| clearly to the interest OF the I. X y. Il. h.Co.
to make reasonable rates and afford all COVE
nicut facilities for the business which passes
over that part IF their line, aud not compel
this company in self protection to build par
alel road The G. j. o. Il. K. TO. Is rapidly
pushing the construction Of their road west OF
the Greenbrier White Sulphur Springs anu
calculate upon completing their entire line
through to the Ohio river in another year.
Large authorizations are INDUCED of the amount
of travel aud tonnage coming east from the
opening of this new liur, and to accommodate
it more fully an act OF the Legislature has been
passed to allow the T.. x o. R. r. Go. to build
branch from their road to connect with
Washington city. As the O., \. Il NJ X. K.
already affords direct communication between
Gor,lonsvile and Washington, and will be able
to supply al the facilities ot transportation
which both lines may require tor all business
likely to be presented for many years to come
it will in like manner accord with the policy
aud interest Of this company to invite the Use
and occupation Of their road on equitable terms
as an outlet for the eastern bound traffic OF the
| G. K q. +. r. seeking transportation by rail-.
| Even if the accumulatiunS Of trade should be too
large for the existing line, il would be tar cheaper
| for the connecting company to construct 4 uOll-
BILE track than incur the cost OF building another
road. 1t may therefore not heinapproprateat this
| time for this company To express ITS readiness
to meet the views of the &. X q. K. H., and
to offer the most liberal and equitable arrange
meuts in the use of their road rs above men
toned. The existing relations OF the two coni =,
panies in this contingency, each calling Tor USE
in part of the road Of the other would operate
to check any arbitrary exercise Of power by
either, and afford the most etfectual guarantee
to both for the permanent nantanlance OF sat
isfactory arrangements between their respective
roal$
LAND PURCHASERS.
Another noticeable feature in the Legislation
Of the last session of the General Assembly Was
the set passed to authorize the company to pur-
chase lands along it, immediate line OF railroad
with 4 view to their resale and settlement by
,h,. terms of the act referred to, the Company
il allowed to buy lands within Il Hunt Of live
miles ON either side Of It's line vi road, and not
to exceed in quantity two hundred thousand
acres, and to issue bonds and create stork Nc,
in payment for the same. 1t IS known that eX-
tensive tracts OF country we'll adapted to agrl-
cultural purposes comparatively unsettled, aud
living waste and reproductive are to be found at
various localities upon the line Of the road
The object Of the law was to enable the Com,
many to obtain coutrol OF these lands, aud
through its organized capital and agencies have
them occupied and made productive. BY purr,,
chase and subsequent Subdivisions INTO small
farms. to be sold GU long credits, additional Ia
bour and population would be lntrodnced and
more local travel aud frei ght brought TO the
road The experiment had been successfully
made by some ofthe Railroad Companies! OF the
West, and the results there would warrant the
Introduction Of the system when applied to
sparsey settled districts Of country III Virginia,
living upon the line of the O., y. 4 VI. Il. T.,
and especially when the advantages OF our CHI
mate and the proximity of many Of these lands
10 the capital Of the United States, and our
Virginia cities, are taken into considerations
Tie company propose fer the pure ase OF
land to issue i special class Vi bonus Tearing
six ner cent interest and running for fifteen
wears from date, and to apply the proceeds OF
resales of lands to pay principal and interest on
the same: the lands to be sold on ] credit OF
ten years to actual settlers, and payable in
equal annual instruments commencing two years
from date Of purchase. This feature will at
tract settlers with small means, and enable
them to use their original capital in improving
and stocking their farms. The land owner by
this arrangement can exchange his unproduc-
tive surplus land for 4 good interest bearing
bond. secured by the proceeds OF sale OF lands
| specifically set apart tor the purpose; ana py
the credit of the company in addition. Sach
| obligations with coupons attached would pass
from hand to hand by delivery, and answer Tor
purposes Of investment, or Tor payment OF
debts. The measure has been formally brought
to the attention of land, holders. and i'll some
localities met with favorable consideration.
Proposals to sell the company upwards Of
twenty thousand acres Of land near the railroad
in Nelson, and Amherst, counties, lying for the
most part in adjoining tracts, and embracing
much variety Of soil, and Of timber and cleared
land, have been made ut prices not exorbltant.
and will come up for early consideration OF
the Board of Directors. If other suitable parts
of the line will favor the measure and submit
similar proposals for their Ian d. 4 general
land scheme may be inaugurated and put 10
operation productive of valuable results both
to the community: and the railroad com
pauy. The company however proposes to pro-
,oI ,,; a rrao, cnuthp in th, prp mi St1S and To