The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1878-11-28
Court adjourned until Friday.


RoCKBRIDGE AND THE VALLEY r. R.
The Lexington Gazette, of last week, in an
article on the Valley R. H., gives the follow
ing statement with reference to the status of
the new Valley Railroad, should a dissolu-
ton be determined upon:
If the terms offered are accepted, Rock
bridge will be virtually the Valley Railroad
Company, holding a majority of the stock
The road bed from Staunton to Salem has
cost about $500, 900 ; she will have paid there
for $3.50, 1000; sl0l, 900 of which sum in bonds
has been redeemed and Cancelled. There
will remain in the hands ofindivdual hold
ers the sum of $9S,000, to meet the interest
on which will require a very small tax in
deed. We will then have in hand $4,000
Of bonds held as collaterals by the B. O. r.
H., and 100000 still unissued, making to-
tai of 1926, 900 in Rockbridge county bonds,
and in addition we will have the balance of
the Lexington subscription. and the Bote-
tourt, Roanoke and Staunton bonds.
With this fund available there can be no
doubt about resumption OF work upon the
read If we wish to carry it on upon our own
account and looking to ultimate ownership
buff it is deemed best to make arrangements
with other corporations looking to line OF
AOdu Ouk We olC CtICdluIy
in a condition to make advantageous terms.
The line of road to Salem might be surren-
de-ed to any Company which would COM
plete it. In this contingency Rockbridge
would have paid a bonus OF $4,000 for a
completed line OF road, which she could well
afford to do.
| But there is still another string to our bow.
At the late meeting OF the stockholders oil
| the James River Il Kanawha Co. in Rich
mond, a proposition was made by the Rich
mond & Allegheny Railroad Company look
Ing to the building of a railroad between
| Richmond and Buchanan, and branch to
Lexington. This scheme comes to us en-
dorsed by the Hon. Thomas Ewing, mem.
Der Of Congress from Ohio, and it is said to
be composed of such responsible men as Hon.
Hugh McCu.loch, late Secretary Of The Treas.
ury, and men of like standing and financial
ability. The j. r. & X. Co., without act
ing upon the proposition submitted, appoint
ed committee for consultation, said com
mittee to report to an adjourned meeting OF
the Company, to be held in the city of Rich.
moEd on Wednesday, 9th instant. What
the result of this conference may be remains
to be seen. In the mean time work progres.
ses favorably OH the Canal, and early in De.
cember che boats will 60 through from Lex.
ington to Richmond. If it shall appear that
the Richmond & Alleghany Railroad Com.
pany is responsible for its undertakings, and
that the State Of Virginia is willing to make
such arrangements as shall admit of the use
of the line of the J. r. & X. Co. for the pur-
poses of railroad, then the other string tC
our bow my be available.
In this negotiation Rockbridge will appear
as a creditor of the j. r. & K. Company te
about $4,000, which debt, if paid, would &C
largely to eXtinguishing the debt incurred
in the disastrous Valley Railroad scheme
Then the position of matters in our Railroad
speculatons would make this exhibit. A
railroad running north and south under lhs
control of the Shenandoah Valley road o.
other corporation another running east ant
west up the James River valley along tn,
borders of the county. and another up thu
North River to Lexington, and the count!
debt $4,000, with cash balance in tn
treasury OF about $4,000. That is certainl,
a comforting outlook on paper. And in ad
d;tion to all this, there are number of GU
citizens who hold j. h. & X. Canal bonds t.
about 100000. All these bonds would D.
paid in full and the money put in circulation
But we must stop the scheme grows upol
us, and we are almost persuaded that the re
cent meeting of the Adventists in New Yorl
must have been delusiOn and that the mil
lennum must really precede and not follo'
the advent, when all shall be peace and har
mony among meE. No more chickering's, n
more Valley Railroad meetings, no NOR
friends, and no more taxes.
The repors Of the attitude Of Roanok
county, with reference to this enterprise
published in the VIRGINIAN OF last week,
confirmed by an article in the Salem Regts
ter. Should work be resumed, and pros
cuted to completion at once, the $4,000
subscribed by that county may be paid, OIL
erwise it is claimed that it will be annnle'