The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1879-04-17

road up the Jamcs-Riyer Valley.
Ar. Parsons said:
Gentlemen,-1t is important that we earl
reach correct understanding, and | wi
briefly state the plan and record OF The Riei
mond and Allegheny Railroad Company
In July last the gentlemen who now dlrec
this company purchased Il controlling in
terest, and Immediately directed an exami
nation CT the line. estimates OF probabl
business OF the adjacent country, and q,
exploration OF the mineral district. At tia
time
THE JAMES RIVER AND KANAwHA CoMPAS,
WAS IN DEFAULT,
ana foreclosure proceedings were pending
and, as soon as we decided that the work
OF that company were necessary, we wer,
advised to obtain good and cheap till,
through purchase OF the dcDreciated secu
Titles, and under decree. Upon examna
ton We were Of opinion that such 4 cou.s;
would result in protracted litigation, ant
would probably disclose the fact That many
OF the franchises had been or would be for
felted; and further, that it would not be
wise to take without The goodwill OF the
canal company and OF the State. We ad
dressed the annual meeting, held in Nuven.
Der last. the following letters:
| oFFlCE Of THE RICHMOND AND
| ALLEGHANY RAILROAD COMPANY, !
| RICHIOND, November Is, 1878.
10 the President of ihe James Rirer ard
h1nanhd Compony:
The LEGISLATURE OF Virginia at its last scs-
sion, III the act incorpo,atin. the Richmond
and Allegheny Railroad Company, author
lZcd If to purchase any OF the property and
franchises OF the James River and kanuwba
Company within the limits OF il, charter
The Richmond and Allegheny Railroad
Company has complied with the terms OF
its charter and perfected its organization.
with the exception OF the election OF prcsi-
dent. 1t has been engaged for some time
in maturing lis plans and examinations in
order to entering upon the construction OF
It's road. 1t is apparent from these exam
lnallons that some part III least uf the works
OF your company alC essential TO the early
and cheap construction Of its road. The
gentlemen who propose Undertaking this
work have appointed n committee to confer
with all parties in interest, and, il possible.
establish a basis OF cooperation. That com
mittce consists CT Hon. IIu"h McCuIIoch,
james S. Wells. and Ii. {. Parsons. They
also directed an examination and estimate
by Ii. ID. Whitcomb and other engineers OF
the probable c,St OF construction and
amount OF local revenue, and requested
Hon. Thomas Ewing to make general cx.
animation OF aud report upon the route
The reports OF these gentlemen have been
upon the whole favorable, and | am in
s.ructcd by the committee first named iC
request the stockholders Of your company
il they see proper, to appoint Il committee
| for consultation. Such evidence us Will sat
isiy your committee OF the ability aud rur
pose OF the gentlemen OF our party will he
promptly furnished, and an honest effort
will be made 10 establish some basis OF CO.
operation that shall be- Just and equitable tc
all parties in interest, and shall secure the
early construction 0i Il railroad between
Richmond and buchanan, with i branch to
Lexington. Failing in this, they have nc
present purpose OF proceeding farther III
their Investigations. / enclose L letter just
received from General Ewing.
Yours truly, II. G.. PARSONS.
LANCASTER, ONO, November 8, 1878.
Dear Sir,-If the. stockholders AID Off
GERS OF the james River and Kanawha Com
pany shall see tit to cooperate with our aSso.
ciates in attaining the objects proposed by
the Richmond and Allegheny Railroad Com
pany. am satisfied the means will be forth
coming for the speedy construction OF the
railroad. Very much depends on the dis.
position OF the c:nal company and the pco-
pic OF the James River Valley.
The parties proposing TO take the matter
| in hand are OF the highest character and OF
| large resources, but are not disposed to en-
gage in the enterprise without the cordial
goodwill and cooperation OF the canal
company and the Influential men OF the
Valley. With that assured, believe the
way is clear for the carly and complete Sue
cess OF the enterprise.
After the stockholders meeting please
advise me. Iwould attend it but for en-
wagcmcuts which Will occupy me in Ohio
until near The meeting CT Congress.
Very trnly yours, THOMAS EWING.
H. &. Parsons, Esq, Richmond, Va.
That company determined that its past
uolcv must be abandoned. and resolved rs
follows: [Rc>olution referring" that part OF
The presidents report aS to its condition
and future policy to select committed
This did rot limit them to treaty with Us,
but
TIE RESOLUTION WAS WIDELY PrBLISIIEn,
and the committee was continued for some
time: but | aln not advised that any other
proposit:on was received, and ous was re-
jcctcd. Afterwards that company made MS
i propo>ition which was accepted. The
James River and Kanawhl Company asked
for the necessary legislation to carry this
into effect, but failed to obtain il. The
| Legislature. however, passed bill cm-
| bracin- most OF The terms OF the contract,
bur inserting blIrdensomc conditions. 1t re-
uuired that some OF the most yaiia-
klc franchises as the exemption from
taxation should be surrendered to the
State; that the State claim should
have priority; that canal-boa's sho lld
be paid for; that soull->ide eonncr-
tions should be made; tish.ladderS should
be built at all the dams; and certain PARTS
| Of the canal should be preserved. 1t was
provided that everything should be lor-
| fcitcd in Il certain event, and the charter OF
tie Richmond and Allegheny Railroad Coz
Epany itself WAS TO Dc amended by the con-
tract to the disadvantage OF the company.
The schedule OF debts was enlarged. After
consideration we determined 90 proceed
under the act, and on the 2bth OF March
last the two companies entered inlo con-
tract. with the following reservation to our
comna,v: And il is especially understood
and agreed that this contract i, made By the
Richmond and Allegheny Railroad Com
pany with full reservation By il OF the fi@i=T
provided by the third clau>e CT the first ScG-
ton oi said act TO declare
TIE ANNTLMENT gE THIS CONTRACT
in the event OF the failure TO negotiate al
cuutabIe settlement with the creditcE> OF
the james River and kanawha Company"
The question upon which every thisS else
depended was Lett open, although we kncH
that every step taken and every advertise
mcnt made might harden your denauils,
and that it lay in your power to dcleat our
whole project. This question has glTen Us
W. tb.t tvr