The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1877-11-08
From the Reli gious Herald
LETTER FROM REV, J. E. MASSEY.

GENERAL BRADLEY II. JOHNSON AND THE
c. & o. CANAL CAsE-$249, 900 FOR coll
LECTING 1881, 000-How IT WAS DONE
THAT'S THE WAY THE MONEY GOES, &C.
Messrs. Editors:
In the News and Notes. of the Herald
of September 9th the following appears
s'Rev. John E. Massey has been much
misrepresented in regard to Bradley john
sons canal operations. Will you let Bro.
Massey put in the Herald calm, truthful
statement of the case? Yes, if he will bring
it within column
1 have no idea of the character Of this mis-
representation, or its locality. Every COM
ment have seen or heard upon the subject,
since the publication of my report. has been
highly complimentary. fear I should be
considered egotisrical if were even to re-
peat the eulogiunas have seen and heard
upon my report and my labors in connec-
ly ''misrcpresented'' nee, pity him for he
has an enemy IN his own bosom who will
make and keep him unhappy until he casts
it out. If any one has done so through ig-
norance, hope he will inform himself and
then make the dmende honorable. Il will
be impossible to give very satisfactory
statement of the case in column Of the
Herald, but will state some Of the facts as
briefly as can; and if any desire further
information upon the subject, and will write
to me for it. will send them copy Of my
report.
On the 2Sth of June, 1928, the Chesapeake
and Ohio Canal Company was organized for
the purpose of constructing canal from
Georgetown, D. c., to Cumberland in Mary
land. Maryland advanced large sums of
money to the company, and took first
mortgage OH its tolls, revenues and works to
secure their payment. These advances en-
abled the company to complete the canal to
"Dam No. g." fifty miles cast of Cumber-
land, its designed western terminus.
On March 10th, 1915, the General Assem-
bly, of Maryland authorized the company to
issue bonds to the amount of 81, 700, 600, to
raise funds to complete their work to Cum
berland, and to secure these bonds by first
mortgage upon its net tolls and revenues
and s'waiyed, deferred and postponed'' the
'srights and liens'' of Maryland, upon the
revenues of the canal company, iii favor OF
the bonds authorized to be issued.
On the Sth Of March, 1917, the General
Assembly Of Virginia passed an act to guar
antee 100000 of the bonds of the canal
company referred to above, and known as
reconstruction bonds.'' Eighteen thousand
dollars of these bonds were issued in 1S47,
$131 500 in 1s4S, and $3.50, 500 in 1S49. All
were payable thirty-five years after their re-
spective dates.
On March 18th, 1s49, the Legislature Of
Virginia guaranteed 100000 more bonds
for the company, which were issued for the
purpose of repairing the canal between
Georgetown and "Dam No. 60 These.
known as ''repair bonds,'' were payable
twenty years after date.
The company ceased to pay interest on its
."construc ton bonds'' in 1851, and OH its
repair bonds'' In 1859; Between these
dates and 1866, Virginia, as guarantor, paid
interest these two classes Of bonds to the
amount of: 1905. ops. Tie canal company
thereby, became indebte to Virginia to tina,
amount, with interest thereon from thu
times this interest was paid.
Selden, lWithers & Co mpany had also al
vanced la rye sums in I'ayment of interes
due upon the bonds of the company. TIL,
claims W hich they held against the com