Bristol news. [volume] (Bristol, Va. & Tenn.) 1867-189?, 1873-06-10
THE VALLEY RAILROAD,
The Whole Work Put Under
Contract.

The president and directors of the Val
ley Railroad Company were in session in
this city yesterday, earnestly engaged In
devising means for reconciling all the
difficulties which have been in the way of
letting the entire line of road to contract,
and securing the first payment Oh the
Baltimore city subscription of S. 900, 900,
by satisfying our commissioners of finance,
under the provisions of the city ordinance
of the possession of means to complete the
line.
As announced yesterday the representa-
tives Of the different Virginia valley coun-
ties are here with the 80 per cent. of
their bonds in hand ready for delivery
Most Of the day was spent IN consultation,
and finally at late hour last night, in
session at Barnum's Hotel, it was for
merly determined by the board of direc
tors of the Valley railroad to let the road
to contract from Staunton to Salem, Va,
to McMahon, Mason & Co., at the esti-
mates of the chief engineer of the road
The resolutions adopted are as follows:
Resolved, that the president be author
lied to accept the bid of c. r. Mason,
Edward Mcmahon. j. G. Green, Thorn
as K. Menefect, Dennis Flannahan and
A. w. HarmOnt to construct the road
from Staunton to Salem, at the estimate
made by the chief engineer in his report
under date of Goth September, 1872, and
upon such line and with such grade, etc.,
as he shall designate, provided the said
contractors shall in their said bid agree
to accept in part payment of their contract
price 10 per cent. thereof in proportion
ate amounts of town, city and county
bonds at the rate of so per cent. Of the
par value of said bonds; and provided
further said contractors shall in their said
bid agree that this company shall have
the right to relet ffty-nine miles Of the
said road between Stanton and Salem, at
a less price than that named In the said
bid, if the said company can make such
reletting, and in case of such reletting the
said contractors shall have no claim for
any compensation of the part of said road
which is so relet; and til provided furth-
er that if the said company shall not ex-
ercise the power of reletting the said fifty
nine miles then the said contractors shall
in their said bid hold themselves to be |
bound to complete the whole line of the
road from Staunton to Salem and it shall |
be further understood that the said rights |
so reserved to the company shall not in
any way impair any of the obligations de-
volved on the said contractors by their
offer to contract, and it is further pro-
vided that said contract so to be made
shall be of no effect, and that the said con-
tractors shall have no claim because of the
same against the Valley Railroad Com
pany, unless and until the counties and
towns and the city of Baltimore shall have
made payment of thirty per cent. of their
respective subscriptions to the stock of the
Valley Railroad Company
Resolved, That it is the intention of the
to recommence work on the road
within sixty days, and to complete the
road throughout its entire length with
IN the period of three years.
1t is known that the portion of the road
nearest to Baltimore, from Harrisonburg
70 Staunton, is now under contract and in
course of construction, and is expected to
De completed by August or September
lext-BGIto. Sau, Of Tuesday.