The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1875-01-28

vided Tor by the ordinance OF SAID council.
In case OF refusal Of this demand, application
will be made for a naanCl0nluS to compel the de-
livery of said bonds.' Respectfully,
THE VALLEY RAILROAD COMPANY BY
SHEFFEY & BUMGARDNER, Counsel Y. Il. Il.
Jan. 26, 1873.
Mr.. Ker moved that the communication be
referred to the finance committee. Gen. Ech-
OILS thought that action should be taken at
once. It;was, he said, matter OF the most vi
tai Importance to the city Of Staunton, that
these bonds, which had been given in good faith,
should be met in like spirit. The meeting Of
the stockholders Of the Valley railroad, held OH
the 18th, had been an exceedingly unfortunate
one. In his opinion the Baltimore delegation
had been badly treated. Baltimore and the
Baltimore & Ohio Railroad had made their sub
scription upon the supposition that the bonds
subscribed by the corporations and counties
| along the line Of the V. r. r. would be prompt
ly met when due. The company had already
complied with the terms Of the contract; Bal
timore city and the Baltimore & Ohio Railroad
had ach paid 81, 200, 600 in cash, while out Of
the whole amount subscribed by the Valley
counties and towns, only $500, 900 from Rock
| BRIDGE So, 900 from Stanton and $50, 900 from
Boteteurt, had been paid over to the company,
and that in bonds. The treatment OF the Bal
timore delegation and the iniunctions served by
Rockbridge and Lexington had produceda very
bad feeling towards this section Of the country
in Baltimore In conversation with a friend in
that city since the meeting, whom he knew to
entertain the most friendly feeling towards the
Valley he had been asked if Staunton Would
pay her bonds? He replied, certainly she
would" The gentleman then said, that while
he had no disposition to disparage the credit Of
Staunton, vet he would tell Gen. Echols plain
w, that it would be difficult matter to negoti-
ate her bonds. Gen. Echols then went on to
say, that the refusal to meet the demands of
tile Valley Railroad-to discharge the city s
Just obligations, would be to create the i'm
preston of bad faith and sink her credit for
years to come,-Virgiuia bonds We're already
deprecated in the market, and chat it would be
far better to lose $25 600 than that Sfaunton
should be advertised abroad as unwilling topay
for honest debts. We are about to inaugurate
system of improvements which would neces-
state the negotiation of $4,000, and no one
would be willing to take one dollars worth Of
those bonds if the city persisted in refusing to
pay the debts already incurred, and further
than that, she could be made to deliver the
$25, 000by process of law, and it was simply
whether she should become mixed up in a. lit-
CATION which could afford her no relief but on
the contrary would destroy her credit, and
thereby necessitate the abandonment of the
proposed improvements, that the bonds
should be paid over, and the city's credit main
tanned.
Mr. Evans-If the $4,000 is allowed to be
paid, won't the same arguments be used in ia
vor of the other $4,000?
! Mr.. B,lmgardner-As am only here in con-
sequence of the unavoidable absence of Judge
Shelley. I do not feel at liberty to answer the
question,
Mr.. Evans-As the syndicate only had an Or
der for So, 900 instead Of 100000 which $751;
900 has been already paid would it not be best
to wait and see what action will be taken by the
B. & 0. r. r? Heretofore we had suppos-
ed Baltimore to be in sympathy with the
Valley, but we find her joined hand in hand
with the B. & o. R. r.
| Mr.. Echols-The conditions upon which
Staunton made her subscription have been COM
piled with, and it can be Of no possible benefit
| to delay this matter. while such course would
! do the city's credit irreparable injury.
Gen. Echols then moved that the finance
committee be ordered to carry out the instruc-
lions of September 10th, 1874, to pay over to
the V. R. R. the 100000 subscribed. The mo-
ton was lost by vote of six to five. Ayes
Echols. Abby, German, Funkhouser and Hoge.
Noes-Evans, Bagby, Ker, Kayser, Witt and
| Burke.
Mai n. NJ Bell appeared before the Council
and presented a communication from Mai Ed
ward Mcmahon, proposing to sell to the city a
part of the Valley hotel property for $1,000, to
be used for colored schools. Referred to COM
mittee on schools.
Mir. Bell also read communication with ref
erence to the desks purchased for the city
schools, the consideration OF which was post
poned until the next meeting.
The Street committee reported favorably
upon paying to Messrs. Eyler, Cooper & Co.,
$685., 66 for iron CRATES furnished on Main St.
Their report was adopted.
The petition of Mr.. Ellyson, of Waynesboro',
asking payment for brick furnished the corpo-
| ration, which had been referred to the Street
committee, was returned with the. recommen-
da ton that it be not granted.
| The petition Of Holmes Erwin and others, ask
| ing permission to grade Market street in front
of his residence, was also refused. Mr.. Cor
man moved that as Mr.. Erwin was present, he
be allowed to address the cour.cn with regard
| to his petition.
| MIR. Erwin said that the paper before the
council was signed by a majority of the proper
ty holders on Market street, and that the only
| privilege asked, was that he be allowed. at his
own expense, to grade the street in front of his
house, SO that carriage could be driven up tc
his door without danger He said that he had
never received any favors from the city at all
that for the past three months he had been en-
deavoring to ascertain the correct line Of the
street, so that he could construct his fence, but
that as yet no one could be found to give it,
That he had applied to the City Engineer, and
that he (Mr. Allen) had promised to give the
line but that was all. Mr. Ker said that the
Street committee had told Mr. Erwin to put uI
| l.: OH txxybor