The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1871-03-16

one hundred dollars per share, and as now
amended one hundred and fifty, payable fl
State bonds In six equal annual instruments
without interest. Mr.. Speaker, it takes two
to make bargain. have never been able
to find inside Of this House, or outside OF
it, any man who could give me any bust
neSS-like assurance that the Atlantic, Mis-
sissippi and Ohio Railroad Company hat
ever authorized such q proposition.
II has certainly not been developed in thi!
debate. The transaction Is large one II
involves SSs5.6o0 of State bonds. 1t is {
bargain outside the charter Of the Atlantic
Mississippi and Ohio Railroad Company.
WHO is AUTHORIZED TO STEAK FOR THAT COM
| rANY ?
Have the stockholders of that company ir
general meeting ever authorized such 6
proposition HIVE even the directors O.
that company, by concerted and official ac-
ton, ever indicated their intention to re-
commend the stockholders,to authorize such
proposition? Who is it that assumes to say
that he is the Atlantic, Mississippi and
Ohio Railroad Company, and claims author
lily to make such otftr?"
In fact, Mr.. Speaker, the Atlantic, Mis-
| sissippi and Ohio Railroad Company is not
before this General Assembly at all by any
legal or authorized representative. Wher
you talk to me about this so-called propo
sition Of the Atlantic, Mississippi and Ohio
Railroad Company feel as if we were en-
gagged in soliciting the Atlantic, Mississippi
and Ohio Railroad Company to make ar
offer which she may reject at pleasure. This
is good device to prevent the sale Of the
States stock during the pleasure Of the
Atlantic, Mississippi and Ohio Railroad
Company. But, Mr.. Speaker, we mean bu
siness. We really and honestly want te
| sell.
A BUSINESS OFFER.
| 1t appears, therefore, that there Is really
but one proposition before the House, anG
that is the offer of Messrs. II. X. Ellyson
Joseph r. Anderson, and their asso
ciates, which is in print before this House
These gentlemen propose to give the
State for her stock in the Richmond
and Petersburg Railroad Company the
sum of $3.50 per share, payable in
State bonds within six months; but the
developments before the committee show
that it means cash, and as an earnest OIL
their serious intent they have deposited
with the Treasurer of the State 100000 Of
the bonds of the State. While the uu.
authorized suggestion made in behalf of
the Atlantic, Mississippi and Ohio Rail.
road Company contemplates q credit run
ming through period of six years. il
these two propositions were on the same
footing before this House, the difference be.
tween them would be about
$l21 ,4A IN FAVOR OF THE ELLYsoN PROP.
| oSITION.
Who that represents our taX-burthened
people can hesitate between the two'otfers
say, Mr.. Speaker, it becomes us te
weigh these propositions well, for we must
not forget that we have an uns ettled matter
between this State and West Virginia, anG
that she will rs she oughA to do, hold us tC
strict account for the manner in which we
dispose OF the assets in our hands of which
she is part owner. With what propriety
can we demand. of her: =" Pay that thou
owest," when we have with utter disre-
gard of her interests and rights, sold bel
stock in the Richmond and Petersburg
railroad company for less than is now Of
trred by parties whose good faith, respon
$pibllty, and ability TO do what they pro
pose to do, is beyond all question?
THE PRETENCE OF y1RGINIAN1sM DIssECTED
1t has been argued on this floor that it i;
our duty to sell to the Atlantic, Mississippi
| Virginia enterprise, and should be nurturc(
and to$tcrcd by us as Virginians. Let Us
look for i moment at the Virginia part O
the question. Some months ago cnterpriSins
citizens Of Richmond, Petersburg, Norfolk
and Danville and the adjacent counties, de.
string to protect Virginia commerce against
monopolies, organized 4 company styled the
" Virginia Steamship and Packet Compa
NY" to run steamers from the head-Waters
of the James river to the city Of New York
They began their enterprise by buying and
putting on their line one steamer (the Up.
tom, and commenced building another ut
Rockets, i'll this city, in order to give EN-
\
velop Nlrslniirs resources. AS the demands
Of the trade increased, they We're forced tc
buy third vessel before they could finish
the second; and the directory, in the spirit
of true Firginians, pledged their persona
credit to enable them to make the pur
chase.
HOW MALONE TREATED THE VIRGINIA STEAM
SHIP COMPANY.
Presuming, Of course, that this grea
Virginia consolidated line would gladly
embrace the opportunity to extend to Vir
g;nia enterprise all the facilities in thei
power, such as connections, pro-rating
&C., we are startled by the facts Of the case
I prefer to develop the facts by the officia
correspondence, which l will ask the clerl
to read. [The clerk here read the following
communications
NEW YORK, Jan. 10, 1871.
Gen. ". Malone, President Virginia ant
Tennessee Air-line: ~
| Dear Sir Shortly after we took the agen
cy of the Virginia Steamship and Packet
| Companv's line we were offered frelghts
for points on the Virginia and Tennessee
Airline. AS we had = printed schedule
of "through rates" circulated here, we
accepted the ireights at those rates and sent
them forward; but were surprised to learn
aiterward that our freights had been charged
| .'local rates. from Norfolk. We then called
on the agent here of the Virginia and Ten
nessee Airline to request an explanation
of this Discrimination against us, as we
could not suspect that the Virginia and
Tennessee Airline could be bound i'll eX-
elusive obligations to any other company,
and that, as its only object could be to ben
| eft the business of the several roads COM