Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1873-10-03

( THE VALLEY RAILROAD MEETING.
Meeting OF THE sTocK-HoLDERs-RE-
PORTS OF THE PRESIDENT AND CHIEF
FINcAsTLE QUESTION
AN ASSESSMENT OF 80 PER cENT-THE
BUILDING OF THE ROAD 70 SALEM.
sc, sc. &C.
The meeting of stockholders OF the Val
ley Railroad was held at the office OF tnat
company, in this city, on Wednesday last
at noon, presided over by Judge McLaugn-
lin, of Rockbridge. Messrs. W. A. Burke,
Norris and Glasgow, the committee APP
pointed to examine the proxies, reported
that there was quorum represented and
the meeting proceeded to business.
THE PREsIDENT's ANNUAL. REPORT
was received, in which he gives a history OF
| the difficulty in getting possession OF 1he
subscription of Baltimore City last spring.
and congratulates the company on its Ter
mination and the now assured completion
of a road traversing the fertile Valley OF
| Virginia for 1l3 miles, connecting Win
! the Baltimore and Ohio Railroad at Har-
risonburg, interesting the Chesapeake d
Ohio Railroad at Stanton, crossing 1ne
James River and Kanawha Canal at Buch-
anan, and tapping the Virginia and Tenn
essee Railroad at Salem, which will COST
only $7,7OO,Oo0. The work from HARRISON
burg to Staunton is almost completed, ana
the track laying will be commenced Jnls
week. The whole line South Of Staunton
has beensplaced under contract to Messrs.
Mason. Mcmahon, Menefee, Hartman and
Shanahan, who have agreed to take the bonds
at even more favorable rate than was
named in the Johns Hopkins negotiations.
The company has effected a mortgage Tor
! Sc, 900, 900, the bonds for which will be is
sued from time to time, and will rank high
| in the market. The receipts OF the COM
pany for the year, up to September LIST,
were $593, 4242S, and the disbursements
$3.50, 1897. 80, leaving balance in the Trea-
sury of S8.777, So President Garret re-
commends an additional call for 80 per
cent of the subscription, payable as fol-
lows October 18th, 10 per cent October
23d. 10 per cent, and November Sd 10 per
cent. .4s
CHIEF ENGINEERS REPORT.
The report of Chief Engineer Randolph
says that the road between Staunton to
Harsisonburg will be finished in November.
Section is now ballasted and ready for
the rails. The iron superstructure for the
bridge will be ready next month. Track
LAYING would be commenced at Harrison
burg October LIST. He hoped to have fin
ished that portion Of the road in time for
the spring travel, but the epizootic among
the horses and severe winter delayed the
completion. No better or more solid road
bed thar that made was ever constructed,
and warned by the late heavy freshets, the
vents have been made greater and safer. The
masonry on the road is all Of solid blocks
of limestone, and not filed in with pieces
as is usually the case. A contract was
made with the syndicate May LIST to finish
the road from Staunton to Salem, taking
20 per cent of their money in county bonds
at 80 cents in the dollar, the company re-
serving SO miles. Subsequently the syndi-
cate took that SO miles, and taking county
bonds at IS cents in the dollar. Work was
commenced in Botetourt, Rockbridge and
Roanoke in July. The heaviest part Of the
work will be completed first. A corps of
engineers has been put into the field to re.
wise the lines, at, and South of Buch-
anan.
aG Y THE ROUTE BY FINCASTLE.
Mr. Glasgow, of Botetourt, objected to
adopting the recommendation of the Presi-
dent for;an assessment of 80 per cent until
| the question of the route by Fincastle was
settled, for if it was not settled to the
| satisfaction of the people of Botetourt
they would resist the payment by litigation.
There were three routes-that by Horny
town, that by Trouteyille and the central
route by Fincastle.
Another stakeholder from Botetourt said
information was wanted upon whether the
road would go to Buchanan as there was
some feeling on that subject too.
President Garrett said Mr.. Barclay, the
right of way agent of the company had not
returned from his inspection, and there
were many unsettled cases both on the
Fincastle and Horrytown route. He learn:
ed, for the first time to-day, that there was
a third route. 1t was necessary to have
information about the right of way before
the company could act definitely on the
route.
Mr.. Glasgow-There is a general deter
mination in Botetourt to resist payment
of the subscription if the road does not
pass by Fincastle, but if it does there will
be perfect harmony. I do not think the
charter gives the company the right tt
avoid the points named unless it is abso
lutely impracticable to touch them.
Mr.. Garrett Chief Engineer Randolph
who is now delayed at his home in Martins
burg by sickness, will go to Botetourt as
soon as he is able, to determine these ques
lions Of routes.
Capt. Figgat from Botetourt said &
free right of way would be given if it wa:
certain the road would go by Fincastle.-
Not merely for the sake of that village il
that demand made, but for the interest ant
convenience of the whole of Botetourt. -
By that route the trade of Craig which now
goes elsewhere would be brought to Fincas
tie, and great mineral wealth would be de
veloped. It was for the interest of thu
| company as we'll as for BOtetOurt