The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1879-04-22
The Richmond and Allegheny.

The committee appointed by the bond
holders Of the James River and kanawha
Co,apany have organized by the election Oh
JoHN STEWART, Esq, chairman, and L. Ii.
F,sueR secretary. They will prepare cir
c,,lar.lettcr md blanks for the bondholders,
md will communicate by mail with all the
nonresident holders. AS far as possible
.the James River and. kanawha Company
md the bankers here are furnishing lists OF
the creditors; but az these are constantly
changing, il would facilitate matters ii the
holders would send their names and address
TO the secretary. One OF the trustees TO re-
ceiye the rents and tolls has been selected.
The other will not be named until the New
York bondholders express their preference.
It is expected their names will be made
known in two or three days. Then blank
contracts for signatures will be sent out.
The committee are of opinion, from the cX-
preston so far made, that the great bulk Of
the holders will promptly accept.
The recent meeting held in this city OF
course excited a good deal Of interest, and
,umors, as might have been expected, were
spread and freely canvassed. But as they
were probcd and set aside in succession,
they left the great enterprise unimpaircd in
c.cdibllity and prospect. And now, as
rapidly as is PRACTICAL, the process OF fund-
ing the debts and closing up preiminaries
to tic real beginning OF the most important
enterprise ever projected in Virginia, will
go ahead.
In this great undertaking we have an
abiding faith. We have no idea that the
corrorators in it intend anything short Of
earnest. decisive action. They are TOO
prominent, too high in public lie, 10 enter
upon any such small scheme us specu'a-
1ioG in charter or strategizing in property
Temporarily to pass it stealthily like junk,
and speedily to get rid OF it. TO harbor
suspicion OF such intention would rather
impair the credit OF man for sagacity and
Judgment than attach for a moment to these
gentlemen.
All. no; they are too far-seeing, too solid
in their purposes, for any such nonsense.
They know what they are about. They
know the property they have purchased.
They know its condition and its charac-
ter, Its mineral and agricultural riches, its
relation to highways OF Improvement, and
its command Of the great Central middle
temperate line Of production and Transport
tatlon. They know all this, having gath
cred all the necessary information upon the
subject. They sought to make the pur-
chase. They have made it. They know its
value, and he who dreams that they may
regret the act will not live to sec the day
this will happen.
We regard the time OF this movement as
most propitious. The Government has I'm
ished its grand financial work, and to-day
stands at least without a superior i'll the
civilized world for high credit. Then comes
that great matter OF the arrangement OF the
State debt. This being fixed fact. and the
prospect OF the rapid funding OF this debt be-
ing rendered now assured, the peace and hap
piness OF Virginia, and her freedom from
the agitations Of scurvy politicians, are
ulaced beyond danger. Therefore our
people can so forward to plan 10 develop
their future with confidence and energy.
Now, the projection Of the greatest rail-
road scheme that was ever presented TO the
Virginia people, we say, is fortunate in time.
Circumstances all conspire to facilitate The
enterprise. That is indeeda tide that is be-
ing taken ut the flood, and will therefore
lead on to fortune. There can be no mis-
take in it.
Eyerythingi is propitious. National credit,
State credit, and this grand enterprise, all
combine to infuse spirit, hope, and prac'
teal energy all over the State. All these
things act and roact favorably upon
the public prospects, and before TINS year
reaches its third quarter we shall be
able TO hail Virginia as Commonwealth
moving rapidly on to independence and all
the conditions of social order and content