New-York tribune., 1873-12-22

one onee the estimates Notwithstanding liberal al
lowances for contingenses nssd n tSe construction Of
railroads. caused by the keen competition iot s1e
among numerous new and cd .S iIpqs Of oonirsco
and serious land Sides ali contributed 70 s~gn Rva @
Of building the extension 10 ,e on the older
half Of the line were reDs and portions oI ,ne
reIad, that the cost OF the work when wa oor,d
the Ohio IN January, 1878, eontideiaDy oA''
s35,Ooooo.
EAST AND TRAFFIC ALREADY SECURED
Although communication immediately oPeh'"
with the West by means OF the river boats " wac
among the plans OF the Company TO establish ra''o
connections with Cincinnati and Louisville at tb'
earliest practicable moment. considerable Interest m
the Louisville, Cincinnati, and Lexington Railroad was
purchased securing with 1t several valuable transfer
privileges in the cities and through them coni.
nlcation with all the principal railroad cen'ers ~ tna
West OF the I24 miles bet the western termnuso o
the Virginia road and the Kentucky roaa. % , ni'
Company. and the remainder would have oecn
under construction .but Tor .ne ,ooa s".se,s
Is now carried on between these cities by means
Of a line of fast packets; the trip beng mao, mano
or between Washington Richmond and cincinhah
in So 10 50 hours Live stock, cotton, and breadstn arc
ports and it is now in contemplation erect elevators
the oho River terminus in connection with an organ,
barges which can he cheaply moved from Dubuque ~
Louis, and other points on the Mississippi 70
capacity OF about Is 5oO0,OCO bushels per annnm sLu
flour has high reputation IN the nlarkets s 10.
export purposes Tic cll sing OF the aks, ana sna s
high prices Of allrai carriage from the Mississipp
favor the success OF the river barge system .. .,,
The advantages OF another low grade line between c
East and West are appreciated at tine West as the short
Of navigation on the lakes and Ere cana, rem
ders IL an uncertain for the movement oI tLc
whole volume surplus crops OF the West, and me
rates Of freight are regarded as exorbtant, Already
the shippers on both banks VI the Upper p
moving in the organization OF system OF cheap I've,
transport up the Ohio which MI be svsia1e ~ ~
the canals the algail rates are at their hignes- ",
course wes,bound ghts the advantage Afforded
by tine opening OF the Chesapeake and ONO Railroad ao
manifest LIS Importance TO Clncihhat, ono
TRANSFORMATION OF the West is also recognized That
city. which OF late. has adopted the pOoy OF
uraI supremacy in her own field, Is awak-
mg TO the necessity OF eaeeSmg come .or
the purpose OF securing additional line to the eea
board and also TO acquire the maIkets OF Nhs -u
importance perhaps the such connecting line
would have IN giving "A ready anu certain ~ wen Ms
ysI2 THIS can w he secured by railroad Of 40 miles in
length on either bank OF the Ohio and following ~
g. 10000 with grades descending uniformly az tire rate
OF per mile; ana when built would form me
coal at the lowest cost and with regularity ana crr
tanty very favorable contrast with the present pre-
mode OF rafting during seasons OF high waer
down the Ohio from a0ove Pittsbarg j25 mics higher
up the stream than the West Virginia coaFfehs. BE-
sides, when once on wheels the coal can nc cafi..u
direct 10 the yards ana manufactures witEoat tho
serious expense Of n separate handling, portion or
tions have been made apd y Il proDab4e tla S eoH'
ton Will not be long delayed
PROSPECTS, OF DIRECT SHIPMENTS FROM THE wEsI TO
EUROPE.
The cbesapeake and Ohio Company also entertain
plans for through line Of direct shipment between the
Western cities and Europe their road and for Tins
reason had gun construction o. an Eastern E1ie-
sion OF line from Richmond down the Peninsula l"
point or points the deep waters Of the Chesapeake
Bay not far distant from the Capes al lis entrance
Til, extension was ior the purpose OF enabling vessels
Of the largest capacity to and alongside thc care 70 r.
ceive their and proceed TO s.a al All seasons WI"
the smallest OF distance. III asserted DJ picte"t
payigatoTs that the trip between Liverpool aud taib
ton Roads, although trife longer than ttt between
,iey at ali seasons and 10 less me, in either direction.
This Is OF ships being apt 10 MAKE me- OF
the greater velocity ana longer course lnte Gu stream
ON the eastward passage, and because O advantages
from the reversed currents on ts southern edge ana us
narrower diameter ON Il westward passage
The harbor oi Hampton Road. is one oi the lnest y
not the best, North Atlantic coast II n smell
rich country tributary 10 1t, aud now that the Iso"d
penetrating the near of the West leads direey I" ~
gates il has unequaled facilities for handling onr
foreign commerce. Neither ice nor other oostrueon ~
center OF the great western valleys other ire
quented harbors. The tunnel inst completed ors part
OF this deepwater extension. and also admits
the docks at Rockets, just below Redmond, where
extensive wharyes have been erected, win all tho
necessary shues and apparatus for transferring coal
ara merchandise to Thirteen of
here 0btaned which II sufficient for all cOastw-e pJr
poses. In consequence OF the treacnerous nature
Of the earth "a slippery clay Of the Church H IE-
nell IT'S cost far exceeded the original estimate.
I massive arcRns of the Whole involving an
outlay of than sl,coooOo independently OF the
large expenditures ON the docks tidal waters Of
the James Rver The trans began passing through tho
tunnel to the docks on Dec !, and ~iIh the eompe"n
OF this piece OF track the whole line Is coml cled 80
miles in length. at cost IN round numbers OF sirOv"
These facts, Cleaned from conversations WIN the
officers OF the Company and from other sources are ot
interest just at this me a. they explain IN df', me
occasion of the non-pay yment OF interest Oh me Com
panys first mortgage bonds The Ievehaes Ol the hu"
were considerably more than sufficient Tor the Operating
expenses during the past year Wltnn portion oi hat
time the line has operated throughout It's length,
but not OF course tue James River docks But The
revenues while yet the roaG incomplete have NOT
heen sufficient ~ the whole interest Its honfci
debt. Moreover, the necessity OF nnlsDlDg tie
structures that were advancing 10 competon waH 80
this would lar increase the INN, date
capacity the road that the net earnings have been
expended upon IL. The borrowing p0weis 81 Iho
Company having been temporarily suspended during tbs
panic, the default in its November interest was nu-
ayoidabe. The road Is now. however, Ia such a con
dti0n that new expenditures OIL any naghiteGe N"i
be necessary for its operation, except for new comp
ment until tie Company shall deem II advisable ia com
pete It's eastern extension, when now les done Al
light cost That the Chesapeake and ONO Road has
great future before 1t cannot be doubted Its eeosraph
cal position its grades over the mountains s mex
haustble supplies OF cheap fue ITS genial climate and
ia cheap water-ne ctioDs should combine tO
der one Of the great thoroughates OF thc conIeh
Is mineral treasures shonid invite capital and labor
along ITS route ~ be employed IN iron steel and timber
while the agricultural territory IL drains -
the very garden ground OF America The wncat oi tho
Shenandoah the corn and grass products OF the Ped
mont the ores and forests OF West Virginia, the live
sock and tobacco Of kentucky the proysi0ns OF ONO
and Indiana the cotton OF Tennessee, Mississippi and
Arkansas, may all find Their market over tins new
route Perhaps change in the current Of trade VIII
build needs OF trausfer and storage new ship
ping port at the eastern terminus OF the road not M
deed rival OF New York out bandmald, as Liverpool
ia of I0ndon while hum OF industry ARISING
from ne ceners OF manufacturing enterprise AZ
the western extremity.