Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1875-12-17
LETTER FROM RICHMOND.
The Chesapeake and Ohio Railroad
Facts About the ROad-Meetingo of
the StOckhOlders-AF Farmer Want
decentralization Among Legisla-


the Stockholders-A Farmer Want
ed-ConsternatiOn Among Legisla-
tors, etc., etc.
Correspondence of the Alexandria Gazette.
RICHMOND, Dec. l6. 1875.
The adjourned meeting Of the Chesapeake
and Ohio Railroad Company was held to-day.
Gen. Williams G. Wickham, the Vice Pres
ideut, read the report of the President, G. P.
Huntington, esq.
! The report attributes the small amount of
| through business to the want of connection
| by rail from its western terminus with the
great centres of trade in the West, Southwest
| and Northwest; to the low rates for freight
which have prevailed during the greater part
OF the year on competing liues, and to the 6nan-
| cial embarrassments Of the company which are
we'll known, aud which have Induced many
large shippers of freight to seek other routes
OF transportation who would otherwise have
entrusted this company with the trauspolta-
ton of their property.
The report says it was hoped and believed
that the proposition for funding portion OF
the interest on the mortgage debt, and the
whole OF the floating debt intu income bonds,
would have been acceded to by nearly all, if
not all, of the bond holders and other creditors,
but after the most patient and earnest efforts
of the officers and financial agents of the COM
and other creditors refuse their assent to the
plan proposed, representing an amount sut1i-
cent to annul the plan. Alter listening to and
carefully considering all other plans proposed
by those who would not accede to those pro-
posed by the company, the President and
Board of Directors became convinced that
none of them were practicable. When, there
fore, 1t became evident that the company could
net pay the interest that would mature 90 the
first of November, instant, 90 its six per cent.
mortgage bonds, the Board OF Directors ap-
pointed a committee Of seven OF its mem bers,
whose duty it should be to devise plan iol
the reorganization of the company, Oh basi.
that should be just and equitable to all inter
ests. 10 this work the committee gave earnest
and careful attention, holding meetings almost
every day, and they had nearly agreed upon
the details of plan for reorganization which
it was Intended should be submitted to all per.
sous interested for their consideration and ap-
prevail This work Of the committee was 10.
tcrrupted 10 the early part of October by the
action of the Circuit Court Of the United
States for the Eastern District of Virginia, aud
the District Of West virginia, 10 appointing
Mr.. Henry Tyson as temporary receiver of the
property, incomes, franchises, etc., of the COM
pany.
The report then goes luto long statement
OF the facts OF the seizure OF the road and the
appointment of Tyson as receiver, aud in this
connection says:
Your property is now 10 his hands, and
subject to bis management. He is a stranger
to your President and Board of Directors, and
so far as they are advised he has no peculiarly
interest whatever 10 the property, nor have
either of his sureties, all of whom are non-res-
idents of Virginia or West Virginia. 1t does
not appear just and right that property of
such magnitude and of SO great cost should be
taken out OF the management and control of
its rightful owners, and be placed 10 the hands
OF a stranger against the expressed wish of so
large majority Of all persons interested 10 it,
as bondholders stockholders, and general cred
|
tercsted 10 the property asked for the appoint
ment oil MIR. Tyson"
The report of General Wickham showed that
the earnings Of the company Tor the past year
ending September last were 81 ,459, lS9. As,
and the expenses Slll2 500 70. There was a
decrease of passenger fare amounting to $43.-
1889 and an increase of freight OF S43,.
| 550l7.
The report testified to the good order of the
road.
On motion, the old Directors of the company
were reelected.
General Skeeu, Of Allegheny, offered res
| olution approving the action OF the courts of
Virginia and West Virginia in appointing
General Wickham receiver, and expressing the
hope that he would soon be put 10 full posses
sion and control Of the road, franchises, &c.
| The resolution Was adopted
| The meeting then adjourned.
| Receiver Tyson happened to be out of the
city at the time.
! Great CONSERVATION was created 10 the House
to-day by the announcement that MIR. Seig, of
Highland and Bath, was suffering from case of
genuine smallpox. 1t is supposed that the
unfortunate gentleman contracted the disease
10 the country, as Richmond is almost entirely
tree OF 1t. HE was stopping at leading hotel
| hSiSi ouu VIC lueCitlScuCcs IL was 81 uFSC lear
ed, would cause the guests to leave, but upon
being assured that there was no danger the
majority of them remained. He was at once
taken to the smallpox hospital. 1t cannot yet
be ascertained whether he is in danger.
A large number of equity treasurers are in
the city paying 10 their taxes. They propose
having meeting and memorializng the Leg
lslature to alter the present law requiring them
TO make their returns by certain time
Whether they will accomplish anything by
this remains to be SEEN
The Board of Visitors of the Blacksburg
Agricultural and Mechanical College have been
10 session here for several days. One of the
duties incumbent upon them is the appoint.
ment of farmer for the college. There are
| almost as many parties lobbying for that place
as there were aspirants for the position of pen
| itentiary store keeper. Twenty eight geotle-
men have sigui6ed their entire willingness to
educate the young mind how to plant pump.
l., oh N