The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1873-12-11
The Government Compromise with
Indebted Southern Railroads.

The Washington correspondent of the
New York Journal Of Commerce, who has
for some years past devoted one letter year
to the condition of southern railroads and
their attitude to the Government, writes
now more cheeriuly on the subject than
ever. He says:
At the end of the war the Government
had in its possession an immense amount OF
rolinc-stock and other railway material in
the South, and in order to help The railroads
there and to realize the value Of the pro-
perry the Secretary of War, under executive
orders, sold it to the different southern rail-
road companies on credit. The demoraliza-
ton of business interests by poverty, free
dom of slaves, reconstruction, &C., delayed
prosperity, but some of the companies paid
ur promptly and discharged their Indebted:
ness. Others lost money, went into bank
ruptcy, and the Government got its share.
Others asked extensions and got them; but,
on the whole, they paid up very we'll under
the surrounding circumstances, and showed
that their intentions were not at fault. From
advanced sheets of the Quartermaster-Gene-
raPs report the following statement .ap-
pears:
:sAt the close of the war. under Executive
orders of 9Th August and l4th october,
1865, there were sold on credit to various
companies, principally in the South, railroad
material to the appraised value OF S',2oo,-
o33.95.. There remained due and unpaid
from certain Of these railroads on 30th June,
1872, $4,734.442.43. During the past fiscal
year interest and expenses accrued upon
this debt to the amount OF $lOl ,3f3.9o. lay
ments during the year ON account nave
amounted to $l51, 303.44. On the ootn
June, 1878. the debt uDcollected amounted
70 S4.55S,924.O7, exclusive OF the sum
If Sg5 1857 due from the New Or.
loans and Ohio railroad, which debt
is lost by the bankruptcy Oh Inc
company. The total collections Oh account
of this debt, to 9Oth June, 1873, amount TO
Sj,11G,G05.53. There were originally nity
railroads indebted. On the ooth OF June,
1872, there were twenty so indebted, Dut OF
these the Alabama aud Florida paio III iuil
January s, 1873; the postal earnings OF the
Alabama and Chattanooga will more than
linuidate It's debt. the 1ndianola discharged
its debt May "a, 1878; the Mississippi and
tennessee discharged its debt May III, 1919,
and the Pacific railroad of Missouri paid in
full July -, 1878.
The roads vet indebted are the Alexan-
dria Loudoun and Hampshire (Which has
naid S73,954. and now owes $G,S13(;;'' Ala
hama and Florida Qor repairs; Alabama
ond Chattanooga; East Tennessee and
caor,,;a East Tennessee and Virginia !;
EdoeiicId and kentucky; Indianola; Knox
v;IIe and kentucky: McMinnville and Man.
chester. mississippi, Gainesville and Tusca-
loosa. Mobile and Ohio; Mississippi and
Tennessee Memphis, GAINESVILLE and Louis
u;Ilo. McmDhis and Little Rock; NASHVILLE
and chattanooga; Nashville and Northwest,
etn. Nashville and Decatur; Pacific railroad
If Missouri: Southwestern branch racine
ra;,road of Missouri Selma, Rome and
Dalton. " -.. ~ !. cold
The aggregate amount OF property SOFA
thasa rommnies was $4,965, S54; amount
maid to ,July /, 1872, s., 097 1892 amount due
July l, 1873, $4,e5S, 924. s,,o@ ,o,, =
In addition to the above the following
named companies discharged tneli ,nua .r;,,o;
ness to the Government, amoumtllls, pltt ~,
pal and interest, to 1885, ,367.5o, except Tue
New Orleans and Ohio Company, WHICH, Haa, o oe,
came bankrupt, aud the amount tsso.'oo.oD
was therefore dropped IRON n me llS' oi III
debted companies
! Richmond: Fredericksburg, and Potomac !;
Genrpia Railroad and Banking Company
Southwestern Macon and Western: South
Carolina: Muscogee; Petersburg; Memphis
and Charleston; Mobile and Great North
err New Orleans, Jackson and Great North.
western Mississippi Central; Virginia and
tennessee Montgomery and West Point
Virginia Central; Rome; Western and At
lantic; Orange and Alexandria; Manassas
GAP: Wilmington and Weldon; Alabama
and Florida; New Orleans, Opelousas and
Great Western; Norfolk and Petersburg
Western North Cardinal Atlantic and
North Carolina Macon and brunswick
Selma and Meridian; San Antonio and Mex;
lean Gulf; Washington,s Alexandria, and
Georgetown; Memphis and Ohio; New
Orleans and Ohio. 1.gsY az = 10. II
These companies discharged their lnueet'
edness in the ordersMmed between Tue S1 da1 1s
of January le anu Hoso rsnort| of o Ma,o,
According to the detailed report Dim q. M'.o !,
u. /, ,LudiGgton, quartermaster, in charge o.
f.s!J.s : -