Bristol news. [volume] (Bristol, Va. & Tenn.) 1867-189?, 1874-03-03

Stockholders aud bondholders of the
[, company Atlantic, Mississippi and
Ohio railroad to commence said
road extension to Cumberland Gap,
or Virginia and Kentucky road l.
without the hope oil its becoming more
than mere work, or words TO that
effect;
Aud whereas, the said resident,
on the 10th February. 1874, in a
speech before the committee on roads
Of the House of Delegates, did publish
and declare that BY the far Interpreter
ton and true understanding Of the
charter of the Atlantic. Miss; ssippi
and OHIO railroad. they were not le-
gal Y bound to build sail Virginia
and Kentucky railroad, now known
rs the Cumberland Gap extension;
that if they were 10 any way bound
the time had not yet arrived for
legislative action; that he denied the
jurisdiction of the Legislature at this
time 20 enforce its remedy, if it had
any.which remedy he likewise denied,
holding that the Atlantic. Mississippi
and Ohio company was in no way
bound unless connection could be
secured for the said Atlantic, Missis
sippi railroad) With the railroad SIS
ten of Kentucky at Cumberland Gap;
aud whereas, the State of Virginia.
by subscription by her Board of
Pablo Works. acknoEledg, d aud
ratified in the said act of June 18th,
1870. was due the Virginia and Ken
lucky ilroad the sum of So. 500, 900,
which was released TO the State to.
gethcr with all claims thereto, Upon
the condition, among other things,
that the said Atlantic, Mississippi
and Ohio company would in the time
aforesaid complete said road, the
benefit of which the said Atlantic,
Mississippi and Ohio company under
their charter now enjoys, to the great
detriment and utter ruin of the said
Virginia ard Kentucky line, and
strikes n fatal blow to those prosperity
Of the people along the said Virginia
and Kentucky line, as we'll as the true
interests of the people of the whole
State; and, whereas, the State. in
her leniency towards said company,
did postpone her security for the en-
iOrccment Of what ever sum might
be due her under said charter to a
first mortgage lien of SIS, 1000, 900,
authorized to be executed by said
company on said road, as we'll to
complete the Cumberland Gap
extension as to repair the whole line:
therefore, owing TO the fact that the
Atlantic, Mississippi and Ohio rail
road claims its exemption from the
work anticipated on the Virginia and
Kentucky road, and owing to the
further fact that the said company
has, as its reports and statements OF
its president show, realized from
SIS, 0O0, 900 authorized loan the sum
of 50. 800, 900. be it
Resuiced, That the committee fur
courts of justice be, and they are
hereby. instructed to impure into and
report to the Senate
FIRST. Whether the A., VI. and
D. K. X. company are, under the act
of June IL, 1870. authorizing their
formation, bound to complete the
Cumberland Gap extension of the
Virginia and Kentucky road within
six years from their organization
Second. Wheathcr the building OF
the same depends on the condition
for the fixed aud ascertained cOnnec
ton, by way of contract, with the
railroad system of Kentucky at Cum.
berland Gap?
Third. Should the said company be
bound to complete the said road
within six years form its organization,
by far legal Interpretation, are they
not bound to commence the same
within reasonable time?
Fourth. Has that time arrived?
FyM. Ii they are not bound to
to complete the Cumberland Gap
extension or Virginia and Kentucky
railroad, on any terms or conditions,
does their charter confer on them the
State stocks, interest and Claims
fOrmely owned in the Norfolk and
Petersburg, Southside, Virginia and
Tennessee roads?
Sixth. Have they legal right to
withhold out of the l5,OO0,OOU, au-
thorized loan the amount estimated
20 Complete the Cumberland Gap
extension?
SeCenh. If they are bound to build
the road, when a connection is secured
at Cumberland gap with the Kentucky
system Of roads, who are the judges.
or who is to determine when the terms
of such connection are completed?
Eighth. When all efforts for such
connection have failed to attain the
same within any definite time, how
will tie relative rights of the Allan
tic, Mississippi and OHIO company,
the State and the Virginia and Ken
lucky railroad company stand?
Moth. How has the Atlantic,
Mississippi and Ohio railroad applied
or disposed of the 50. 5O0,0 realized
from and under the SIS, 100000
authorized loan?