Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1873-11-11

CHESAPEAKE AND OHIO RAILROAD CoMPA-
NYs CIRCULAR. -The following is the sub
stance Of a circular issued to the bondholders of
the Chesapeake and Ohio railroad by the direc-
tors Of the company:
The company admits its inability to pay its
notes and interest coupons due On November |.
1t credit can only be restored by funding the
entire foating debt, which amounts to more
than s. 600 600, and portion of its interest
on Its mortgage debt, in income bonds, 10 be
paid out of its income earnings
They have therefore authorized the issue of
seven per cent. tWenty-year income bonds to
the amount Of $l2 0000 600, interest payable
semi-annually, and the bonds dated October ]
1873. The proposition is that present holders
OF SIX per cent. bonds with coupons surrender
all coupons due before May, 1875, and to re-
celve therefor the face-value less interest to Oc-
teber |, 1873, on the income bonds, at the rate
OF eighty live cents on the dollar.
The holders of registered six per cent boUds
with coupons to assign to the company all in
tefest accruing to 1875, and to receive income
bonds as above. Holders Of seven per cent.
registered bonds, coupons detached. to assign
to the company interest accrung to July, 1876,
and to receive income bonds as above.
These propositions are put forth with a re-
quest for their acceptance, as the directors be-
iieVe there Is no other way in which the affairs
OF the company can be placed on a basis of en-
during safety and prosperity
LII the bandholders assent promptly, the
company will be 10 position to proceed with
out delay In completing lis original plan Of ex-
tending It's road from Richmond to deep water,
aud establishing connections by rail with the
Important cities and towns of the West and the
Southwest. If the plan is adopted, the officers
n 10 oou tho f,t
iuil OF encouragement. and that the earnings
OF the road Will Insure the prompt payment of
all its obligations. ~ Y Times.
The PROSPECTS. All over the country the
prospect is ominOus for gloomy winter II Is
estimated that the furry 10 Wall street will
make difference to he whole country of over
one thousand millions of dollars. Indeed, the
amount of damage done is altogether incalcula-
ole. Manufacturers are everywhere cutting
down their forces. running on half time, or tenn
porarlly suspending, on account Of the moneta-
ry strlngency and the dullness of trade. In
all the cities, the winter is destined to be very
severe upon every class of the employed. Ma
ny Of the wholesale and retail firms are redu-
CHG expenses by reducing The number Of their
accountants, clerks, and statesmen. As usually
happens, those who can least afford to go are
the first to lose their places. The dismissed
have no prospects elsewhere, and must remain
In town without occupation, and yet with the
greatest desire 10 work. which is one of the
most deplorable conditions Of humanity. Ia
New I ork city, alone, the indications are that
at least 90 coo or 70, 900 persons will be thrown
out OF employment this month, and the proper
ton to the population will be yet larger in man
ufacturiug towns Economy and even close
frugal.ty will necessarily be the order of the
day, even in families that have lived 10 luxury,
Ia order to make both ends meet until better
times. Wash Star
Some have gone into the Radical party IN
der the inhueace OF disappointment--so be-
cause they we're too small to be big men any
where else-some craving congeBial association
aud following their native instincts have, like
Judas, merely gone to their own place -
while others, and the greater number, have
| been tempted and even taken Of the accursed
| thing the go0dly Dabylonish garment. the
shekels of silver and wedge of gold and of
each of these it may hereafter be said, as was
was written of Achan, 'and this man persisted
not alone in his iniquity = Bedford Sentinel.
| REVIVAL OF RELIGION. "A most Interesting
revival OF religion Is now going on in the Bap-
! list Church at Blue Ridge. 1t mmeoced with
prayer meetings by mem berS of the Church
| nearly month ago, aad has resulted Ia re-
| freshlng outpouring OF the grace of God 4
deep aud serious reheious Influence pervades
the community. aud the interest is still unhag-
| ging twenty-five persons have been conver<-
ed, a0d many are seriously enquiring the way
Of life During the last week the Rev Mr.
| GRAY has been preaching TO the congregation
-FtacasAe Herald
| VoTING A RECEIPT = Oae OF our active bust
ness men had receipt for SIS together with
| Conservative ticket 10 his vest pocket 90 cleo
ton day, and they we're about the same size =
On going to the polls he pulled ont the folded
receipt, hauded it 60 the proper officer who de-
posted it 10 the COX containing The ballots
The mistake was not discovered until after
night. This shows the i'm portaace of every yo-
ler looking at bis ticket before depositing it In