Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1873-01-21
COMMUNICATED.
Railroad Meeting In Leesburg.

COMMUNICATED.
Railroad Meeting In Leesburg.
According to public notice, the railroad meet
ing which adjourned to meet IN Leesburg, on
Friday, the 18th inst, to receive the report OF
the committee, appointed at previous meeting
Of Stockholders, to examine into the affairs and
management of Washington and Ohio road,
met at the appointed time in the Court House,
Ieesburp, Mr.. Fl. T. Harrison in the chair, and
Ii. Bronaugh, Secretary.
Mr. NJ. Harrison, Chairman of the Commit
tee made the following report, and offered the
following resolutions, which were unanimously
adopted: II. T. HARRISON, Chairman.
H. BRoNAUaH, Secretary.
REpoRT.-The undersigned committee APP
pointed to make certain enquiries and lnveStlgH-
lions at q meeting of certain parties stocknold,
ers and others, interested in the Washington ana
Ohio Railroad, held ut the Court House IN Lees
burg, on the l4th ult for the purpose OF consult
inc about the present management OF the roao,
and the proper mode Of securing the interest OF
the real stockholders therein, have performeo
The duty assigned them as we'll as their limited
nrportunities would permit, and report the re-
suit as follows
On the nth day of April 1867 an act was passed
by the General Assembly of Virginia. authoriz-
inp the Beard of Public Works to sell to the
Company nil the stock held and owned by the
Stale in said company. (See Session Ac's lSGG.'7
cSl2
Pursuant to said act an agreement was entered
into between the Board of Public Works and
the said company, by which the company pur-
chased the stock owned by the State therein at
the rate of $5 per share, payable IN three equal
nstaments; one to DO paid five years from the
18th day of April, 1867 or on the completion OF
The road to Winchester, should the same be COM
~. %la nr,1
and third insta!lments to be paid, the one in
seven years, and the other in ten years, from the
18th of April, 1867, or sooner upon the compile
ton of the road to certain designated points,
The money paid to the road by the State
amounted to the sum of Sl,0l7248 And the
stock to which the State was considered rs en-
titled was l0172 4-l0 shares, which, at 80 per
share made the sum total of $50, ,862 40 to be paid
to the Board Of Public Works-the first install
ment being Sl6,954. IA payable in five years from
the 18th OF April 1867, the other two being each
SlG954 l3
For these installments, the company executed
their bonds and deed of trust to secure the same
The deed OF trust bears date the 18th day OF No
vember, 1867, and is recorded In the county
Court of Loudoun in Liber KS folio lO6, and
sets forth what purports to be the entire con-
tract between the Board of Public Works and
the company.
one OF the stipulations of this contract as set
forth in sad desd of trust is to the effect that in
provisions of the deed of trust or OF the act OF
assembly or of the proceedings OF the Board OF
Public Works which arc recited therein, before
the said road should be completed from Lees
burg to Winchester, the SAID Board OF fubilc
Works should have the right to resume the ABB
>olute ownership possession and control, OF the
stock sold as aforesaid, and thereafter to hold
The same as fully as if no such sale had beon
made
The first inst4llment of the purchase money
l,,a thn Inv Nf
the Company has failed to pay the same, and
the road not having baen completed to Wnches-
ter under the terms of the contract the Board OF
Public Works has the right to resume the abSo-
lutte ownership possession and control cf the
stock sold rs aforesaid, and to hold the same rs
fully rs if no such sale had been made.
On the second day of July 1869, paperr, pur,,
porting to be a contract between the kallroad
Company of the one part and certain parties to
sign the same of the other part WAS signed by
Lewis Mckenzie rs President of the Company
on behalf Of the Company-and by d. 5. Nc
Comb, John L. King, Jonah Bardwell, Samuel
H. Edgar, John S. Kennedy. Henry Lewis j..
Smith and Cakes Ames, each signing on the
face of the paper for one-tenth of the contract,
and there being but nine parties signing the
same, as parties of the second part.
1t is true that the names Of James Sykes and
A. Chadwick were appended to the paper oppo-
site the soal for the last tenth contractor MS tax
ing the remaining tenth-but we were informed e
by Mr. Reuben Johnston, the Secretary OF the
Board thnt they were not parties to the contract
and that that tenth remained untaken.
The fact is it was very difficult to ascertain
from the face of the paper, who were the con-
tracing parties of the second part
Some OF the original signatures were stricken
out and other names written across or under
them. These names OF Sykes and Chadwick
were not stricken out and they remained as II
they wore still contractors. While we were m
formed that the name of Andrew Jarnieson only
toad thnr r.
lle, the Presdento the road
The stipulations contained in this contract so
Called 1t Is unnecessary to set forth ut length.
The material features are that the parties OF the
second part stipulste that they Will - lend the
Company the sum Of $3.50 coo to pay off its float
ing debt and existing liabilities to be advanced
IN monthly installments not exceeding SN, OOO,
the first installment to be paid in ~ days from
the execution of that agreement; that they Will
hmld ballast, complete, stock and equip rcady
!"r use, within three years from the dale thereon,
or within such longer period as might be found
NECESSARY for the successful negotiation OF the
bonds of the Company, the Western extension
OF the Railroad of the said Company from its
present terminus at Hamilton Station in Lou
doun county, Virginia, to the town of Winches-
ter in Frederick county, Virginia. or to such
other point in Frederick county not further
West than Ncwtown, as may be determined by
The Company, including not more than three
miles of siding between those points.
All this, however, it is to be observed, Is to be
done with the money belonging to the Company
raised BY the sale of the bonds Of the Company
which were to be put into the hands Of these
PARTIES of the second part to Ecgotate,-and
from subscriptions to the said Company, NUM-
cpal or Individual
There is no limit to the time within which
these bonds may be negotiated, and it may take
an indefinite length of time. It may be to the
interest or tho convenience Of the parties Of the
second part never to negotiate them, and thoy
are only bound to build the road us these bonds
arc negotiated.
The Company stpulates to execute. issue and
deliver to the parties of the second part or to
their order, to be negotiated and sold, the first
mortgage bonds of the Company in such amounts
and AT such times rs they shall require for the
purposes mentioned and it further st puates
mortgage bonds to any other than the paIties of
the second part until after the extension shall be
m lnta 81, - ,.,;l ;I