Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1871-04-21
Correspondence of the Richmond Dispatch
Important Action of the Valley
Railroad Company.
LEXINGTON, VA, April 4

LEXINGTON, VA, April l4, 1871.
A regular and very important meeting Of
the Valley Railroad Company was held here
last night, Col. J. T. L. Preston presiding
It bsing ascertained that considerably
more than majority of the stock was rep
resented. Col. NJ G.. Harman was called
to state the status and prospects of the Val
ley Railroad Company.
Col. Harman stated that the whole of the
stock necessary to build the Valley railroad
had been subscribed except tvo hundred
thousand dollars, which was the quota as
signed Augusta This county having re-
fused to vote the subscription, as it was ex-
pected she would do efforts have been made
to raise it elsewhere. Friends in Baltimore
discouraged the effort to raise this amount
there, and he saw no hope of raising it along
the line of the road He had proposed to
subscribe the two hundred thousand dollars
himself on condition that he should be per-
mitted to divide this amount of stock anon e
the contractors when the r 'ad is let
He had received letter from the pres;-
dent (Mr. Robert Garrett in which he
says that this last proposition conflicts with
the terms Of the subscription of the city Of
Baltimore.
Colonel Hartman said that he was really
at loss to know what to propose
The letter Of President Garrett was read
to the meeting, and seemed to be generally
construed as virtual abandonment of the
enterprise
Judge Shelley did not regard Col. Har
mans proposition as at all conflicting with
the terms upon which the city Of Baltimore
had voted to subscribe to the stock of the
Valley railroad.
If our Baltimore friends have tho will
they can very easily fad the way of arrang-
ing all this 1t would be burning shame
if, after raising SO large an amount for this
great work, we should now fail for lack Of
the comparatively small sam Of 5000, 900.
He thought that the after could be Fat
isfactorily arranged By conference with
the authorities in Baltimore "a
Colonel William Allan was disappointed
at the tone of Mr. CARROTS letter. 1t look
ed as if he meant to abandon the enterprise
He was not disposed to cast any censurs
upon Mr. Garrett, but We must have rail,
road, and if he cannot devise the ways and
means of building it, wssmust look to those
who can
Rockbridge had done all that could be
expected Of her, and if Mr. Garrett proposes
now to fold bis arms, he would lock to the
Chesapeake and Ohio railroad and see if
they are not willing to take the charter (of
which, fortunately, we and not Mr. Garrett
have the contro) and build the road. He
offered the following:
"Whersas we have reason to believe that
the Chesapeake 4 Ohio Railroad Company
is willing to aid US in promptly carrying
forward the Valley railroad:
Resozre1 That we appoint committee
of four to confer with the Chesapeake &
Ohio Railroad Company, and ascertain if
terms mutually satisfactory, and which shall
look to enabling this company TO put some
part at least Of the line under contract this
summer, can be made: said committee to
report to an adjourned meeting of this COM
pany to be held here OF May 10th at I
o'clock P NJ
Judge Shelley proposed as substitute
that committee be appointed to go to Bal
tlnOfo anu see II The hatltf SanuOl DC ar
ranged there, said committee to report to IA
meeting of the stock olders to be held here
ON the 10th Of May
After long and very spicy discussion,
part cipated in by Judge fey, Colonel
j. W. Massie, J. D. Davidson, Esq Colo
mel NJ. G. Hartman, Coouel Allan, Captain
G A. Davidson. and Colonel j Z. l..
Preston, Colonel Allan's resolution was
adopted,
Judge Shelley resolution is also adopt.
ed as an independent proposition.
The chair appointed as the committee to
confer with the Chesapeake & Ohio Railroad
Company, Col VIM Allan, Col J. W
N!assic, Major H NJ. Bell, and Capt. Jas
Compton.
Tue committee appointed to go to Balti
more was Judge Shelley, Col. M. q. Har
man, and Capt. G. A. Davidson.
This means business The Rockbridg'
people say that any responsible compan.
which will agree to begin at once to dig dir
from here to Stanton can have their cub
scription, and that if they can't get promp
action they will spend their money on
railroad of their own, or on turnpikes.
LEXINGTON.