The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1875-12-02
Letter from StauntOn.

lie VALLEY RAILROAD STOCKHOLDERS MEET.
lSG - FINANCIAL CONDITION OF THE ROAD
MO HASN'T PA!D UP TIE ROAD AND TIE
LFGISLArUGE- CHURCH NEwS-THE NEW WA
-Ek.WoRKS ENGINE.
Correspondence Of the Richmond Dispatch
STANTON, December /, 1919.
| tclSgr4phcd you guile fully last night the
proceedings orlhe meeting of the Valley Rail-
road stock aodcls yesterday. They are the
nile interesting from the fact that Viz
gaI road is IN peculiar condition. III e
Company ha, road completed twenty mil,
bu., lrOm here TO Harrisonburg, which is be-
iug run hy The Baltimore and Ohio Railroad
Company and for the year ending September
80 Brought the Valley Company six thou
slud two hund; Cd aud elevea dollars in debt.
Il i, Il piece OF property you would think
tbci would like TO take eff the market and
retire from active lie; aud so the committee
10 whom was referred the presidents report
reported, but that is not so easy thing to
DO. The Bhtimore aud Ohio Company and
the city OF Baltimore own u majority Of the
stock; and when the vote came on to lease
or close up the read they voted together
mo =; that is, they voted to lay the com.
mt,e5s proposition 10 that effect on the
table. The company, therefore, has pie &c
Of property, or rather quite large interest
in piece Of property, which is losing money,
While they have not the money to extend SO
that il might pay, which they cannot
sell, and which they are not allowed
to close up. This is but temporary
status, however, for when times i'm.
prove aud money gets plenty there Is
nothing suter than that the Valley railroad
Will be as great as has oeen predicted OF 1t.
DuriaS The debate last night il was stated
that The Valley Company had obtained from
the Chesapeake aud Ohio the privilege Of
uslrg tier track, for which they bad for
merry paid two thousand dollxrs per annum.
Mr.. W. A. Anderson, OF Roekbridge, ex-
planned that the courtesy was extended by
Mr.. Tyson, the receiver, but could not be
Calculated on 10 last long, as in month he
would oe likely "o1 the road, as the railroad
men have it. The folio wing is a statement of
the financial condition Of the Vslley road:
Rockbridee. S210. 900; Lexington. Sl2 200;
Botelourt, 81 u, 900 Roanoke, $500 900 ;and
balance Of an unpaid subscription OF S45, 600.
saunton is willing to pay when the others
pay, and The company Js tfuly entitled TO
Claim it. Rock5ridge is willing to
Pay when work is resumed 10 that
cOunty. Lexington ditto. Botet0urt has
made conditional compromise something
Ike kockblidge, and Roanoke is to be mad
uamused. The total cost Of the road SO far
has been 223 500, ard Of this amount
lnere has teen spent 10 work south of Staun-
son sl92 $3.50, in Augusia S456 5I2, in Rock
bridge -, in Bo,etourt Sl2l, 203, and in
roanoke sll4, 425, the aggregate being $685.
WI more than has been received from the
counties named.
During the debite objection was made to
The election Of Major Johnson, of Botetourt,
director Of the road, for The reason that he
!, member of the Virginia Legislature, and
tie strong prejudice among the East Vir-
gina members 10 the Valley railroad would
impair bis usefulness asa Legislator.
Tine meeting adjourned until March 18th,
alter adopting motion to see il some better
e!ms could not be ob.sined from the Valley
!ailroad
Lexington Presbylery met here last night
70 cons der The case of the pastorship of the.
"''Voa ffesbytersap church. Bey. pr.