Shepherdstown register. [volume] (Shepherdstown, Va. [W. Va.]) 1849-1955, 1873-07-19
SHEN. VAL. RAILROAD.
REPORT OF COL THOMAS A. SCOTT, TIKI
LATE PRESIDENT.

will be read with interest by all the
friends Of our railroad -
PHILADELPHIA, May 81, 1873
Te the Stockholders of the Shenan-
doah Valley Railroad Company =
Your board, in submitting their third
annual report, beg to state
That the events of the past year have
only served to satisfy them still more
clearly of the importance of your line:
The completion of the Chesapeake and
Ohio Road from the Ohio River to
Richmond has provided one of the ne
cessary connections with the southwest
and with the seaboard, and it only re-
mains for this company to construct its
line as rapidly as the stringent condition
of the money market will permit.
In regard to the connections at our
northern terminus it has not been advi-
sable TO take action until the policy OF
the roads now building in Mary land and
Pennsylvania should be more definitely
fixed. With very moderate expenditure
we can form connections from Shep.
herdstown with the Western Maryland
Road TO Baltimore, and the railways
lying east of the mountain range, lead
! inc to York, Columbia, Philadelphia,
and New York. Meanwhile al addi-
tional route may be formed by a short
link via Powell's Bend, and thence o2er
the bridge already finished to Hagers-
town. and all points accessible by the
Cumberland Valley Road and its con-
Meeting lines.
Numerous letters have been received
by your directors urging upon them the
Importance of so modifying the propos-
ed route south of Page County so as to
build the line directly into the city of
Stanton. Liberal donations and the
right of way have been promised and
strong assurances given of the active
support of the people of that section.
Your board would recommend that a
committee be appointed to inquire into
the matter to confer with the proper
authorities and persons, and to ascertain
what aid can be secured, and would also
recommend that an examination be
made with view of ascertalnInS the
probable cost of the line.
AS already made known to You, the
contract with the Central improvement
Company was so modified, August l,
1872, as to limit the work to be done
by that company to the construction OF
your road between the Potomac River
at Shepherdstown and point of juno
ton with the Chesapeake and Ohio
Road at or near Staunton by October l,
1874, and reserving to this company
one hundred thousand dollars OF the
bonds issued by Jefferson County, with
which to provide the right OF way,
grounds for shops and stations, and pay
other necessary expenses.
On the 23d Of April last asupplement
thereto was agreed upou on terms per-
fectly satisfactory to yopr board, pro
viding, among other thipgs,for change
of second mort gage bonds into income
bonds. BY this modification your com.
pany will be relieved of the danger OF
having its road sold for failure to pay
interest on said bonds.
Of the Jefferson County bonds above
referred to $49,50O have been re-
ceived by the company; and from Clarke
County, her entire subscription OF one
hundred thousand dollars.
The total estimate for land damages
from Shepherdstown to Luray is about
S65, 1000, of which about $4,000 are
still unpaid. 1t is important that the
right of way between Luray and Staun-
ton be secured as soon as the line shall
be definitely located.
The severe winter has unavoidably
delayed the progress of the work, but
there is no difficulty in the way of the
contracting company fully meeting the
requirements of their agreement The
graduation and masonry between Shep-
herdstown and Front Royal are almost
finished, and will be completed by the
18th of June.
The Company has reason to be more
than satisfied with the excellent manner
in which the contractors have executed
the work.
On the gap of Il miles between Front
ROYAL and Luray work has been COM
menced. and it is expected to be COM
pleted by the lst of November next.
On the division between Luray and the
Chesapeake and Ohio Railroad work
will be commenced rs soon as the en-
gineers complete the permanent loca-
ton of the line.
Negotiations are now pending with
the Cumberland Valley and Pennsylva-
MIA Railroads through which the first
mortgage bonds of your Company can
no doubt be advantageously placed up
on the market. 1t is believed that the
officers of both these companies are IA
vorably impressed with the value Of
your line, and with the importance Of
the traffic to be developed by it. Thro
| these sources we hope to secure fair
price for your securities. and with them
the line can he completed to Stanton
even earlier than the time named IN the
contract.
The increasing demand for good iron
ores necessitates the prompt develope-
ment of such sections of country as will
supply the higher grades of ore. Your
road will occupy specially advantage
GUS position in this respect. With its
facilities for securing anthracite coal
and all the various kinds of bituminous
coal and coke from its connecting lines
as return freights for ores carried out,
there is no good reason why the Valley
of Virginia may not at an early day be-
| 1910 % ,,roo+ a centre for the manufac-