Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1872-12-13

THE CHESAPEAKE 4 Ono RAILRoAD-ANsuA1
MEETING or THE SrocKHoLDERs.-The Stock,
holders of the Chesapeake h Ohio Railroad hello
their annual meeting in Richmond, on Thursday
Hon. Henry K. Ellyson. of that city presiding
1t was most interesting meeting. in view OF tn
fact that it is the last one that will be held before
the completion of the road to the Ohio River
by company that in two years. have built more
railway than the old Virginia Cen trail Roac
Co.. backed by the State of Virginia was able
to build in forty.
REPORT OF THE NEUTRALITY-SUSPICIOUS. THE coUE-
s.sgsa TRTs REsoURcEs.
The report of President Huntington is brie
and to the point. Heannoun ces that during thu
year the bonds of the SIS, oo0, goo mortgage re-
naming in the Treasury have been sold, and tht
proceeds applied to the work of construction,
now nearly completed. The inexhaustible de-
posts of iron ore along the line in such proxim
ity to the track have attracted the attention oil
capitalists ironmasters, and miners, in this coun
try and in Europe, who propose to proceed al
once in the development Of the mines and in the
manufacture, on sxtensivescales, of iron and steel
and in the establishment of kindred industries
The ship builders of Europe and America and
other consumers of timber and lumber are Look
ing to the hil-sdes of the Kanawha for their
supplies, and the consumers of coal are locking
to the same quarter and applications are made
= ba of1 IF 10 f1r
tracts to transfer these articles in large quaHti
ties leach way daily. In view of the large
amount of business awaiting the completion Of
the road, more thorough and permanent plan
of construction than was at first contemplated
was adopted, and iron bridges, steel rails, solid
masonry have been everywhere substituted for
less enduring structure; To provide for the in
creased expense from this, bonds to the amount
of SIS, ooo 900, [seven per cent, payable 20 years
after July LIST, 1872, redeemable at the option OF
the company, and convertible into any mortgage
bonds the company may ISSUE were issued, OF
which So, 1850, 900 have been sold and used. The
City OF Richmond voted $500, 900 of her bonds
towards the cost of an extension to depot on
James River and gave the rightof way along the
entire water front Of the city. The tunnel
through Church Hill to this depot will be ready
for use eariy'in the Spring. The per centage of
expenses as compared with the earnings of the
road is steadily decreasing. The question Of the
losation and construction Of the extension ofthe
road to deep water will be decided at an esrly
day. 49,
THE PROSPECTS OF TIE ROAD.
The President says the 'tendis full of promise"
and that "the capitalists who have invested their
money in this gigantic work have not done SO
without carefully estimating its costs and appre-
ciating it's Importance. They have undoubtcd
faith in its results. Your President and Board
of Directors, in view of the near completion Of
the work and the bright promise of its imme-
diate future, congratulate its stockholders
and all others interested in its completion,
and especially the people of Virginia and West
Virginia, who, whether tockh olders or not, will
be sure to be benefited" Fe
CHIEF ENGINEER's REPORT.
The report of Chief Engineer Whitcomb, say S
that the "road will be completed by the last OF
December" and makes a detailed statement OF
the work on different portions. The Church Hill
Tunnel in Richmond only lacks ! $50 feet of
completion, with IS feet week being driven.
TheLswis Tunnel will be completed early in the
Spring and the track is already throughit. One
fourth of the Allegheny tunrelis now lined with
brick. Dukes tunnel is progressing. The Great
Bend tunnel is completed. Tho new superstruc-
I'm fba brd n nbria ici in
gress. On the First New River Division heavy
slide occurred distortng the portal of the tunnel
at Stretcher's Neck, and an interior arch had to
be introduced to resist the strain On the Sec
ond New River Division several sections are in
arrears and on some portions where the line can
around the cuts. On the Eastern part of the di-
vision the track can be laid for ID miles without
interruption, and for tho remaining distance it
will be laid from tho West. Tbs bridge over New
River is ready for the track. On the Kanawha
Division ample sidlings have been laid at Goals
burg for the coal traffic, and others ore building
to Cannelton Lock No. |, aad Peytona.
The foundation walls of the locomotive house
near Staunton, the end of the Eastern division,
have been contracted for and. will be completed
this season. The building will be erected in the
Spring. One at Huntington is completed and
occupied, aud one is to be built at the mouth of
Greenbrier The workshops in Huntin gton are
in progress. The coal-tipple on the Ohio river
has the capacity of dischargipg $50 tons day.
grain elevator is needed at Huntington.
The Engineer corps is divided as follows;-
Peyton Randolph, Allegheny and Greenbrier d.
visions; R. H. Temple, First New River divis-
ionj 9. B. Howard, Second New River division,
and g. G cambridge, in charge Of the surveys
for connections in the State Of Ohio.
TIE SUPERINTENDENT s REPORT. ~
Superintendent Perry in his report shows the
earnings last year to have been SIT, $50; ex-
penses, S4s8, 6S7; nett earnings, $2s8, 945. The
expenses during the year amount
ed to $2s,s57. The passenger receipts increased
over last year $26, 9Gl, and the freight receipts
decreased $2s, 900, owing to reduction in the
of the road last year were 6 first class passenger
cars, 6 locomotives and loo eight wheel and 200
four wheel coalers. An iron bridge 200 feet long
is being erected over the Rivanna, near Char
and when the one at Jackson's Riv-
er is finished all the bridges will be irst-class.
The Western Division has not done very good
passenger or freight business, but both are stead
lily increasing.
GENERAL BUSINESS.
Hon. A.. H. H Stuart, from the committee on the
repor. Of the officers of the road, reported that
every thing was in excellent order, and coup pied
the hope Of the committee that the company
would reduce tbs rate Of passenger fare. Tbs re-
port was adopted. By resolution of Gen. Wick
ham, the Board Of Directors were authorized to