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


Petersburg railroad! What security have
they given to these Petersburg merchants
to save them harmless7 A little bird has
whispered in my ear that million of the
first mortgage bonds of the Atlantic, Mis-
sissippi and Ohio Company has been per-
verted to this purpose. / do not know this
fact, but where else Is the indemnity to
come from? What else have they to give
for security2
IsITABoNA FIDE OFFER?
Is this, then, ask, fair and honest
proposition that it is intended shall be
carried out. / have no plummet to sound
the human heart and dive into their inten.
tions. No doubt they are honest gentle.
men. But it is our duty to see that the con-
tract is one legally binding, and from which
they cannot retreat whether they will it or
not. The first proposition they made was
that the Atlantic, Mississippi and Ohio
Company should purchase the stock, pay
ing $50 per share, not secured by any State
bond as collateral, but with worthless
guarantee" from these same gentlemen
| that the company would comply with its
proposition. When did they find out its in
creased value? What new light has dawn
ed upon them within the last ten days.
THE PROPOSITIONS coNTRAsTED.
How does the case now stand? We have
on the one hand proposition from certain
most responsible gentlemen of Richmond,
made many days ago, to take this stock at
$3.50. guaranteed by deposit of S1OO,o
with the State Treasurer. The House Of
Delegates accepted this proposition, and
sent it to US for confirmation. If the Senate
adopts it, the bargain is clinched, and they
may in vain endeavor to withdraw their offer.
Suppose, however, the Senate disagrees to
the House bill, and accepts the proposition
of the Petersburg gentlemen. Tomorrow
morning, when we send the amended bill
into the House Of Delegates, they may say
to that body, "We have offered too much
we reconsider; we withdrawn our PROPOSE
| tom" and the whole scheme falls to the
ground. They have in law perfect right
to withdraw their proposition at any time
before its acceptance by both Houses of the
General Assembly. But suppose it is not
Withdrawn, and goes back to the House of
Delegates, it takes seventy votes to pass it
there, and until seventy votes are obtained
it is worthless. Or suppose the House of
Delegates should adopt it with little
amendment tackled on, with the usual
amount Of discussion, it will be too late for
| it to pass the Senate before the adjourn
ment, and we lose all prospect of sale.
| In either event we
THROW AWAY THE PRosPECT-THE GER
TAINTY-oF GETTING $3.50 PER SHARE.
! In attempting to grasp the shadow before
us-of getting 5000 per share-I do not IN
dertake to say that such are the intentions
of the friends of the proposition now before
us, but this is the probable result. for
one am in favor of the acceptance of a
binding, legal contract, now in our hands,
and for ratifying the most desirable bargain
proposed by the Richmond gentlemen.
WHY DO THE PETERsBURGERs WISH TO
| PURCHASE?
| Col. PENDLEToN then proceeded to In
quire, admitting for the sake Of argument
that the proposition of the Petersburg
| gentlemen is fair and honest one, and
will he carried out, what is the object OF
the purchase? Why is it that one railroad
company is trying to purchase even at an
cXhorbitant price the stock in another
which is in no way connected with it.? We
are told that the secret is to be found in
|
| INTERESTS OF VIRGINIA
that it is war on his part against the In
vaders of Virginia who would sap her COM
| mercial strength. Much has been said of
the devotion of the President of the Allan
tic, Mississi ppi. and Ohio Railroad Com
pany to the interests of the Old Dominion.
] greatly fear that the sun Of his Virginia
has its rising and setting in
THE DOMAINS OF HIS OWN INoRDINATE AM
BITIoN.
I have supported that gentleman in every
| thing that is legal and proper, but when he
comes here the enemy of other railroads,
and processes extraordinary Virginianism
as the handspring of his action, [
take up the gauntlet, and ask what rail-
road in Virginia not subsidiary to his
own plans has he failed to make war
upon Has he not since he came into
power made .unrele nting war upon the
| Orange and Alexandria railroad? In that
garden spot, the Valley of Virginia, he has
| appeared to thwart its desire to choose for
itself q market and now he comes here to
seize with ruthless hands upon the Rich
mond and Petersburg railroad, to blight
the trade of Richmond. Does he ask an
| outlet from Petersburg and Richmond, and
wish this road on that plea! Such an out
let has already been guaranteed him, and
| for about one-half Of what he now proposes
to pay for two-ffths of the existing road.
| He has said himself before committee OF
| this General Assembly that he could build
road for about S3OO, 900, and have the en-.
tire control of it. Why, then, does he
appear so eager to pay $554, $50 for two
tifths of a road? What, then, is his pur-
pose? Is it not really to prevent other
parties from controlling the Richmond and
Petersburg railroad, and having gotten it
in his own possession, to
LOCK IT UP AND PUT THE KEYS IN MS
| POCKET? =
| Will the Senate of Virginia, yielding to
such Unsuitable ambition, consent to des-
poll the metropolitan city of the State of
her trade and brilliant prospects?
But it is speciously urged that Norfolk
will be injured if Gen. Malone does not