The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1876-06-22
Lease Of the Valley Railroad.

Ihe Baltimore american OF the 18Th Instant
reports the proceeding OF the Directors OF the
| sallay Railroad, at their meeting i'll that city.
+ on Wednesday last. The american. in the
4 paragraph concerning the account OF the pro-
|ceedings of the Directors, says: At ''tlie other
end OF the now completed portion OF the Viz
iginia Valley Railroad, at Staunton, no connec-
ton can be made, the c. & 0. road not being
in operation" OF course this is huge mis-
take. The Chesapeake and Ohio road is not
only in operation, but running two finely
equipped passenger trains daily, and numerous
freight trans-in fact is about as live as it has
ever been, with promising futu'e before it,
How our Baltimore contemporary could have
made such a mistake, is accountable to us.
The american say:
The Board CT Directors Of the Virginia Valley
Railroad Company held another and final meeting
alton of the proposition of the President of the
Shenandoah Valley Railroad Company to lease the
President of the Valley Railroad Company. in the
chair, and all the mbers present, except Mr..
Seemuller, who had left on Thursday morning for a
trip to Europe
| Mr.. Decatur H. Miller presented the resolutions
adopted by the Finance Commissioners on Saturday
morning, recommending the city directors to vote
for the lease of the road in accordance with the In
SLfuctloHS OF InG STOCKHOLDERS al iueeiHS
Saunton, May 3oth, and to exact such stipulations
from the party making the lease as would SUI
dciently protect the interests of the company, and
also that the lease terminated upon thirty days
written notice by either party.
Mr.. e. Pendleton of Botetourt county, offered the
following resolution which was unanimously adopt
ed:
Resolved, That the proposal of VIM. Mines Jr..
President of the Shenandoah Valley Railroad Com
pany, in regard to the lease of the Valley Road by
the month, far completed, be accepted, and that
the said lease be perfected and contaminated at the
det. however. that the said contract of lease shall
not take effect until said lessee shall put upon the
road an unencumbered equipment adequate to a
successful operation OF the value of at least Ss0o0
of which the President of the road shall be satisfied
and give this Company lien on this equipment, by
written contract acceptable to the counsel OF this
Company, and shall bind themselves at all times
during the continuance of the lease. to keep the
same up to said value, and provided further that
said lessee enter into written contract of lease
satisfactory to the President and counsel of this
Company, containing such provisions as the Presi-
dent and counsel of this Company shall deem neces-
sary protect it against loss damage beyond the
ordinary wear and tear OF the road and its struct-
ures, and to the prompt payment of the rent
agreed to be paid and also provision that either
party may terminate the lease on thirty days writ
and counsel be authorized and instructed to intro
duce such other provisions in said contract of lease
lection and security of the Company.
Col Allen offered the following resolution.
Resolved, That the offer of the Shenandoah Val
ley Railroad Company to lease the Valley Railroad
for fifteen years having failed to receive the appro
val of the Board solely because of difference of
opinion to the security offered, we are prepared
in compliance with the instructions of our stock
Eoders.to accept the same when the S. " r, R. Co.,
is prepared to give the security indicated in the
olution OF the Finance Commissioners of Baltimore
city.
Mr.. Keyser offered the following as substitute,
which was passed, M. g. Hartman alone voting in
the negative.
Resolved, That the President be instructed to call
meeting OF the Board Immediately upon the re-
Railroad any responsible party, the road
for fifteen years upon the and accompanied by
the security stipulated by the Board
BILL FROM AN EX-PRESIDENT,
The President then laid before the Board a conmu-
nication from Mr.. Robert Garrett, ex-President of
the Virginia Valley Railroad, for $780, for services
one year and five months (sJOO0 per annum). The |
bill was referred to committee consisting OF Mess
ers Allen, Miller and Norris
The Board then adjourned.
In the evening President Pendleton, of the Vir-
gna Valley Railroad, and President Mines of the |
shenandoah Valley Railroad prepared the contract |
between the two companies, in which. in addition |
to other details to protect the interests of the Val
ley Railroad it is also stipulated that The necessary
rolling stock will be placed the road within two
weeks, and that the road is to be kept in good re-
pair by the sheuaudoaA Company while used by it.
The payments are to be made at the ell,i OF each
nonth and faiiure to comply with this latter
dtion will involve forfeiture OF the rolling stock
tilen on the road, which ia TO be kept to value
least $30,G03 The only connection that can be made
Gu this road at present will be with the Baltimore ]
and Ohio ut Harrisonburg. At the other end OF the
now completed portion OF the Virginla Valley Rail
road at Stanton no connection he made, the |
Chesapeake and Ohio Railroad not being i'll opera |
ton. Some time Will elapse, therefore, before the
contract entered into by The Shenandoah wit the |
Western Maryland haiiroad C II be executed The /
officers OF the shenandoah Valley Railroad Compa-
ny state that they objected at first to any but iif
teen year lease, for rea4oa tlat considerable time
Will he consumed before the rpa can be placed i'll
good running order make the desired coz
nectioa with the Western maryland. they state,
however, thai they will at AN early day make prop
ositon fora fifteen year lease TO the Board Of D !
rectors Of the Virginia Valley Railroad
The officers OF the Virginia Valley Railroad say
that there would have been hi lease the
VII ve for tsrm Of sssn h 70 the
named its security. Some of them dsi,eeve that I
either the Pennsylvania Central or the Cumberland !
Valiep Railroad would have been named as the Sc
curity The President and of the directors of
the Valley Railroad urged the company making the
lease to name the security, saying that if Col Scott
on behalf of the Pennsylvania Central, or the Cum
psrana Vs'Iey Company would be the security
Mines, however, even then refused to name it.
The american of the goth. has the following in ref
erence to the lease
Mr.. Mines the President, and Mr.. Boyce, the Vice |
President of the Shenandoah Valley Railroad Com
pany, who left the city saturday night for New York
returned yesterday morning for the purpose of com
plotting their ARA cgements in reference to their
lease Of thu Virginia Valley Road In the afternoon
they were coseted with Mr.. r P. Pendleton, of the
Virginia Valley Railroad and had consultation in
reference to the exact time at which the rolling stock
is to be placed on the road The general details Of I
the contract had been settled upon on Saturday
evening The officers of the Shenandoah Valley
Company state that they propose having portion
ten days but they ask to be given time for the plac
ing of the balance Ct their rolling stock on the road
They will remain here for several days in order to
make arrangements for the purchase of their equip
ments in this city. Negotiations are pending by
which great portion of TIL cars and engines to be
placed on the Valley Road will be purchased from
the Western Maryland Railroad Company. Accord
ing to the contract the rolling stock shall be kept up
to the value of 100000, but Mr. Boyce thinks that in
six months the stock will be increased to the value
OF $4,000. To-day Messrs. Mines and Boyce will
visit Mr. King. first Vice President of the Baltimore
and Ohio Railroad, and ask whether he would allow
their cars and engines to be forwarded to their des
tination over his road at reasonable COST Should
he decline, which it is not considered probable the
rolling stock will have to be sent circuitous
route. which will delay the operations of the Valley
Railroad.
The nomination OF Hayes and Wheeler, by
the Cincinnati Convention, has broken all the
democratic States. Confusion prevails every
where in Democratic ranks, and it will require
a great amount of ingenuity to dispose the
scattered elements which compose it, SO as to