The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1878-12-05

the whole transaction. and 1t was but right
that that reply should be placed on record.
When Mr.. Duval took his seat it became
sooner than either party had anticipated.
| and the skrmish line was at once reinforced
by the heavy artillery. Mr.. Anderson ad.
vanced TO the front and declared that the
that its errors Of commission were equaled
by its errors Of omission. There we're state
ments contained in it not founded on fact,
and there were failures to make other state
ments which justice demanded.
Under the lead Of Mr.. KeYser, the Mary
land delegation came up CALAMITY. If, said
Mr.. X. there was single error OF fact or
! figure in the answer, he wanted it pointed
out. At the former meeting the threat was
made that if this proposition was not accept
ed the consequences would be unhealthy !;
that the people would no longer submit to
being taxed without having road, and that
steps would be taken to secure the repeal Of
the charter. Accompanying the proposition
had been a letter from prominent Rock
bridge representative declaring that ii a pos
tive understanding was not reached lie
would not be responsible for the action of
his constituents. The answer to that prop
| osition was plain statement Of facts which
could not be successfully controverted, and
the importance of the paper demanded tina
| it should be recorded.
Major Dorman followed, and said that
She had promptly met all her obligations,
| and the burden she labored under was twen-
ty times greater In proportion to her ability
than that Of the Maryland stockholders. She
had received not one dollars worth Of ben
eft from her outlay. and Mr.. Keyser had
himself said that the B. G. o. R. r. would do
| nothing towards the completion OF the road
for the next ten years.
In reply, Mr.. Keyser stated that the En-
gineer's estimate Of the whole cost o. con-
struction was So, 600, 900; Of that amount some
thirty odd hundred thousand was to be SUBJ
scribed, and the remainder to be raised by a
mortgage. For this reason the work had to
be abandoned.
Major Dorman answered that the syndi-
cate had offered to build the road for the SUBJ
scribed bonds and the mortgage, but that
MIR. Garrett bad stepped in and said he could
make better arrangement; Of the completed
line the 3. & o. Company had had control
for four years, and the net income to the
Valley Company had been about $4,000
This, however, did not include the wear OF
the iron. II that item was taken into con-
slderation, 1t was plain that the road was
running into debt each year, and the result
would be bankruptcy. When Rockbridge
sees her interest thus going to ruin, and no
effort made to save it, she will be compelled
to break the manacles and seek relief. She
was anxious to settle all differences AMIGA
bly,. She had made no threat. She had SIM
ply declared what she intended to do. She
demanded prompt solution Of the Difficult
ties, and would be satisfied with nothing
less. What else could she do? II the voice
of her representatives is not needed, her peo-
pie will themselves speak in palmer terms.
| Capt. Ransom took up that part OF the an
| swer which referred to Staunton and re-
PEELED the imputation cast upon her. Staun-
| ton had made two subscriptions. The first
of 100000 had been promptly paid {; the
second of $780, 600 had been subscribed condi-
tionally, and the conditions upon which it
was predicated had not been complied with.
It could not be charged that she had acted
| in bad faith, for she was willing now to meet
her every obligation, when the conditions OF
the contract were met.
| Mr.. Keyser replied to both Major Dorman
and Captain Ransom, and said that the charge
of a dispos ition akin to reputation contain
| ed in the answer. was intended to apply
particularly to Roanoke, and to the individ-
! ual subscribers, two fifths of the latter not
having paid one dollar. Stanton had only
agreed to surrender the last quarter OF her
| 100000 subscription upon condition that
the $50, 900 would not be called for. So far
as the management Of the completed line
was concerned, 1t had been placed in charge
of the B. & o. Company by the Valley stock
| holders themselves. The B. Il O. CO. were
not anxious 20 keep 1t, and all that was nec-
essary was that the Board should prefer the
request, and the stock will be at once with
drawn, and forever. IT'S true the road has
not been paying investment, bu: look at
other roads, three. fourths Of which have lost
money in consequence of the stringency Of
the times. When the annual report Of its
operation was submitted, after the most
careful scrutiny, the management was ap-
plauded. Not one single item was objecte d
to.
Mr.. Keyser then went into long review
OF the history of The road, and in conclusion,
n reply to the question Of Major Dorman,
what shall Rockbridge do?' said she should
comply with her OBJ igations; meet her In
terest promptly, as every honest man would
do. She went into this enterprise with her
eyes open she knew that mortgage would
| have to be- made, and when the condition OF
the country was such that it was impossible
to negotiate that mortgage, she had no right
to seek to evadc the consequences.
Mr.. Anderson replied with great fervour
to Mr.. Keyser, and reiterated the statement
that the answer to the proposition suppress
sed material facts, and cast, by inuendo, il
not by direct charge, stigma upon the
good faith Of the Valley.
| Mr.. Duval endorsed the position OF Mr..
Keyser, and Major Dorman followed in a long
review Of the history Of the road and the at
titude Of Rockbridge.
The motion to record was then carried by
a scaled vote-the Valley proxies voting no.
After its adoption, it was agreed that the
Valley stockholders should have an opportu :
nifty Of filing protest with the secretary
within the next thirty days.
Just before adjournment, Mr. Anderson
offered resolution, which was unanimously
adopted, authorizing the appointment Of a
committee of five, four Of whom to concur,
who shall have power to make and close lease
of the road from Harrisonburg to Stanton,
for the term of not less than 20 nor more
30 years, at the annual rental Of 1,GO0 per
mile, and at the same rate as the road may
be completed south of Staunton, in sections