The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1876-02-08
Letter CrOm Petersburg.
of The Richmond Dfsuatch


PETERSBURG, February Z, 1876.
The collections in this internal revenue
district for the month Of January amounted
to S72, 300S5, Of which about SEQ, 900 was on
tobacco.
learn authoritatively that the reports that
have recently gained circulation that the
Manchester Cotton Mills had suspended or
are about 10 suspend operations are without
foundation. The mills are now running,
and will be run hereafter unless something
now wholly unexpected shall occur Some
| Of the old machinery that could not be ope-
rated except at a loss has been stopped, but no
part of the mills has or will be stopped that
can be run with profit.
The suit Of Broadnay Us. Ragiand, in
equity, and the cross bill Of Ragand u.s. the
city of Petersburg and Board q Public
Works ct ais, having reference to the 4,I55
shares of stock in the Petersburg Railroad
Company purchased in February. 1872, by
RagIaud and others, will come up to.
morrow IN the Circuit Court Of the city Of
Richmond. The argument Of Captain Drury
Hinton, city attorney, on behalf of the city,
which will be submitted in pamphlet form
10 the court, deliberately reviews
the facts Of the original purchase by Rag.
land. whose object, he contends, was to gain
control OF the road, and not to buy the stock
as preferred and entitled to a certain diyi-
| dcnd from the gross receipts Of the road as
an investment or speculation. Captain Hin.
| ton asserts that there was a bargain between
| Mr.. Ragland, who was to furnish the
money, and Mr.. John Lyon, who was
! TO furnish the brains, whereby con-
| trolling interest in TIE company was to
| bo bought at tifty.fiyc dollars per share, and
| sold at par to the Pennsylvania Central
railroad, for which Mr.. Lyon had been coun-
sci. That company refused to purchase, and
MIR. Ragiand, thrown on his own resources,
soon became seriously involved; and not
outstanding his partnership with other per-
sons the credit of the road was impaired. and
even part Of the line destroyed. When
| Ragauu'S note for about S250,000 fell
due. on the 1st OF August last, it was
unpaid, land the city resorted to prompt
action, and advertised the stock for
sale. The city attorney prays The court
for dissolution Of the injunction granted on
| Ragand's motion. The argument proceeds
to review the whole history of the States
conversion Of its claim upon the road of $685.
900, principal and Interest, into stock OF the
company drawing preferred dividend and
secured by first mortgage lien on the road.
| In 1919 the State directed the Board of Pub
lic W OF hS w !lIuSic sIOCh W luz ctclS-
burg Council, TO be used in building the
Petersburg railroad, and subsequently ac-
copied the same as an indemnity to secure
Its endorsement Of S352,000 city bonds
| issued TO aid The Southside railroad. Cap
tain Hinton iners that the stock which now
l rcvertS to the city in Ragand'> default is en-
titled 10 tie preferred dividend and 10 all the
privileges and rights secured to the State as
its original holder.
Miss Eta Buford, formerly a teacher in
one OF our public schools, is very i'll, and
lying. it is feared at the point of death.
In the absence Of Rev. DR.. Hains, rector
Of St. Paups church, his pulpit is filled by
Rev. ". W. Green. DR.. Hams is visiting
biz venerable, father, in South Carolina,
whom he has not before seen for seventeen
years. The pulpit Of Rev. Dr.. Gibson, who
is absent at the North in the interests of the
| Episcopal Theological Seminary, was yester-
day iied by Rev. Mr.. kcpler, Of Richmond.
II will be filled next Sunday by Bishop
white.
Tie stock Of dry goods Of Messrs. Turner
& scott was much damaged last night by the
bursting Of a water"ppe on the floor above
their store, on Sycamore street. The pipe
was frozen during the recent cold spell, and
bursting last night flooded the premises.
The Petersburg Old Grays' Association
will hold meeting tomorrow night 10
make arraug. ments for the appropriate cele-
bration, on the 22l instant, Of the forty
eighth anniversary of their organic ,tion.
ROBIN HOOP.