Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1874-10-09
local.
MEETING OF THE VALLEY RAILROAD
STOCKHOLDERS.

The third annual meeting of the
stockholders of the Valley Railroad
COMPANY took place Wednesday morning at
the Engineers office, on Beverley street,
Hon. n. K. Trout presiding. There
were represented u 1907 shares, Of which
PSI shares were of individuals, and the
rest of counties and corporations. The
Secretary, Capt. Geo. E. Price, read the
reports of the President and the Chief
Engineer.
PRESIDENTS REPORT.
President Garrett recalls the TACT that
his last annual report was made in the
midst of great financial panic, by Which
many vast enterprises were arrested, ana
the work on many new railways stopped,
and concentrates the stockholders that
notwithstanding this, the progress OF the
Valley Railroad during the year has been
steady. and the results satisfactory. The
line between HarriSOnburg and Staunton,
26 miles in length, has been completed,
and trains are passing over it with safe
ty, rapidity and smoothness that attest The
s0lidity of the structure. 1t having been
deemed inexpedient as yet to incur the
expense Of rolling stock for the company,
the trains OF the Baltimore & Ohio road
have been running over it, affording unin-
terrupted intercourse with Baltimore, ard
ready and convenient access to Richmond,
for the people and business OF the lower
Valley. 1t is to be hoped that a free inter
change of railroad facilities and accommo-
dationS will be found to promote the gen
eral wealth and prosperity, without regard
to localities or cities.
THE work SOUTH OF STAUNTON.
The first estimate fol- the work south Of
Staunton was made in October 1873, and
from that time up to the present the work
has been going steadily on. OF the ST sec
tions on it, So are in process Of completion,
and the remaining "A are light sections,
which can be promptly completed us soon
as the heavier work is done. Gratifying
progress has been made at the heaviest
points, principally found between Fair
field and Buchanan, and within 10 miles Of
Salem The character Of the work thus
far done south OF Staunton is of the very
best. The amount thus far expended
south of Stanton is estimated at 100000.
THE BRANCH ROAD.
A strong disposition having been mani
tested in the Southwest that a branch Oh
the Valley Railroad should be extended
through the counties Of Craig, Giles and
Bland, and thence by the most convenient
route to the Tennessee boundary line, and
the interests OF our company c0ncurring
with these earnestly expressed wishes OF
our Southwestern friends, it is hoped that
an amendment of the charter OF the com
pany will be obtained for the purpose. II
respective Of the interests of our own
stockholders in the proposed extension,
we can see no Just reason why the vast
mineral and agricultural wealth of the
region to be penetrated shall not be deyel-
oped by a railroad, and we confidently cal
culate that should the enterprise be con-
summated, it will rebound to the welfare
and prosperity, not only of the region i'll
immediate contact with the Branch, but
to the State at large, its taxable wealth,
the business interests Of the roads con-
ar~@ted with oura. t2c JdHIos River leld
kanaWha Canal, and the cities OF the
Eastern portion Of the State, which at
present, but III our opinion without just
cause, seem to apprehend disastrous con-
sequences to themselves from its construc-
ton. We hope the day will soon come
when no portion of the great Common
we nth of Virginia viii feel justified in re-
pressing the development and groW5h OF
another portion of it, for fear that all the
benefits of such improvement may not be
realized by itself.
THE ENGINEERS REPORT.
The report of Major Richard Randolph,
the Chief Engineer, states that since tie
completion of the road between Harrison
burg and Stanton, it has been heavily
patronized, and was fayorite route for
travel to the watering places. While it
was operated by the Baltimore and OHIO
Company, yet the Valley Company has been
continuously psrfecting its construction.
In the work south Of Staunton, the soil
has been favorable as was assured in the
original estimate, and at all points where
masonry has been required, quarries have
been found located convenient, and some
of the structures made are superior to any
in the Valley. At the crossing OF North
River. at Lexington, it has been found
that the original estimate can be reduced
by the employment of wrought iron above
the high water of, and alongside the stream
which occupies part Of the chasm. Pro-
posalS have been received for the work
from some af the best iron iirms i'll the
country. The only tunnel Oh the line. 400
feet long, has one Of its approaches COM
peted and. it is hoped, will need arching
only for Il short distance. The work be-
tween Harrisonburg and Staunton cost ST.
100000 The Engineer compliments high
" Messrs Mason Il Co., the contractors,
for the work south Of Stanton, who
are executing their contract with view
to do justice to the Company ANA credit
to themselves.
ELECTION OF OFFICERS.
MI Robert Garrett was unanimously
reelected President. with the following
Directors City OF Baltimore-D, IL. Mil
LEI. Richard Norris, Jr., and r. 7 Bald
win: Baltimore & Ohio Co.-GalloWay
Chester. VIM. KeySer and II. r. Pendleton;
Staunton-M g. Harman; Rockbridge-
VIM. Allan and G.. 4. Dayidson; Bote
tourt-E. Pendleton: Salem-G. W, Harms
boro.
The meeting then adjourned.
PAYMENT OF SUBSCRIPTION.
On Thursday last Baltimore city paid
the last instalment of its ST 900, 900 sub
scription to the Valley r. R. Co. The