Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1879-07-12
The virginia Midland Es. Is.

Fac cvHmitifc hsviUg in charge he cjosd
cc,i"r q the roorsi oa,0n schemeGl tL-Virginia
! Mlli.ul Railroad Mr.. Robert i. BlIdS sin,
aai. III IN, NIT yesterday 10 Ba!tinor, aud decidr
oiupIu report to the udhcitrs andcfrd:i0r5
| ot tt.at c ZIP ion, @;o uj geuera! meeting
week TO &C; Fl lally in reference, 10 the N itter
rhr re,of Of the G,nmitttc recommends the
al; ptAu .! the icjTgtn z .llon scheme, ~ hero
tolorc published, ,,ith eleven notifications, as
| follow:
The ia.rcst On the iir-t and second
Orange aud AL \ ,ndrs bjGdi from July lSt,
1878, to Juy ST, lSSO. 10 DO luGdad 10 the
new ;S;ua, instead oi being given 10 the holders
| Of those :cu!ilies; the iatcrc3t on thu third
issue q these bonds to b. Increased from to =
per ca.L. after live year; that Oh the fourth 10
| 20 b. r1duc d FROM 4 Per cut. to " Per cent.
lr :h9 list tea years, 10 he al 4 per cent. Tor
| tha ny !ru years aud at ) PER cent Tor the re-
m,inicg twenty y3ar:; the mortgages TO secure
! the new bonds H. u i 10 lieu OF The OraCge, A.
| cxand,ia sud Mauasas5 bonds to cover all tho
| interest Q! tho nsw company 10 the lease OF tho
road from StIssturg to lla1risoubura; tho It,
scE.st on new boCds issued 10 lien ct the Lynch
| burg and DIpVil.e bonds 10 DO at per cent. Tor
uiehs yeas. instead Of thrcc years; the hist
preferred stock 10 include half Of tho interest
10 Jay 1T, 1879. upon the Orange
| aud AIexaUd.i, tends, aud bali the principal Of
! the seeocd O:BrEe, Aty.n5!is and Manassas
| bj1ia, tic bait CT tho interest thereon up to
the Sine da!c, IS seaii2n TO ho thee !tcns OF
| iutc7is: wlch, " ID: lrisinll schem?, clnst!-
iu,cg. the first prrfprred stock, the sccord pre-
| ;:!r.t, a;cck TO Dc reduced By the aGonnt thus
! irsrscTrca 10 the pcifcr:ed stock, aud the pre-
f. rftG stock 10 f;cciTe 60 per coat. dividend la'
stead OF per ceut. dividend; tut per Can't:
| il 10 b. paid IL tic first preferred stock, s1d
;hen ! Der cect. to the secoad preferred stock,
| aud the residue of any ore year dividend is to
| b. divided tqu,ily between tho Two c'ssjts, uo
| Iii each rlci rc al per CIT. t!Vldetd the
| conuico gad pefI.rrcd sock OF the old cjm
| p.tys TO be represented by stock 10 the EeE
cJ;nrnny, upon basis Of 500 stock OF tie nsw
| for 500 stock Ct tho old c9nparls; all interest
upon lutlrcs. otclyr1ns is stricken cut Ct the
schcmt; tho pew road 10 he conducted ty the
| Charlottesville AID RapiGsn RAILROAD Co., from
Charlottesville to Oiargs Court House, to be
covered ~ ell tho mortgage. except the mcrtgsg
ra % secure he now bonds issued in leu OF the
| Lynohburg and Dsnvi!e bonds; The new COM
rauy is to assume the lease of he Ersuklln and
Pl,syIyania R1iilos1 Company, and all interss.
10 that leaSs is TO &c covered by o mortgage
made 10 secure The Jew bands Issued in place
ct ito L,ochturg and D4uvile boods; the
ttus ccs arc aulGosi2,d to borrow tu:h SUNS CT
mouc2 ss may be peedsd for the purchase Of
the rosd acd the other purposes CT tito trust
upon ,ho credit ct the property which they
purchase. Facsr c,,s in the boatd are to be
filled ty tho trustees.
| Tho committee also report that. ia their
oririou. if The rcoi gaLiZltou scheme with these
moi ,a;i3ps is adopted and oa'r:eo lOto X
caca the c.m:a5y will be relieved from lis
prcscn. embarrassed and dis:rcdited ooudn!on
aud that the ucw bonds may be reasonably ex'
rccted to reach a. Geo q fair msIka' v:!ua.
The report Is signed BY tho eolre cgmuH.ec,
as fellows: II. H. Garden. OF Wartsn'or, Va;
Cta,lts NJ. Beckiord. Of L7nohbure; j sept
Bryan, Of Ret m,nd; j ,hn W. b. k. f Al
tx.naris; I'm. +. Flick, of Baltimore; Robert
J. BAIdaiu, Of Baltimore; }. Wilcox Br0wo,
Of Bs!iimtrs. SsioHith Wilmer, o! BaitiEo'c,
and |. l. Conrad. Ct Baltimore.
Capics of the agreement for the signature Of
tho hondhGlieis will be left at toe Office OF
| B.twl& L5wades, l. German street, B,lti-
more; at the haDkiog house. of Riggs Il Co.,
| Wsshiogtor. u. e.: the State b,nk OF Vlr6i~
nii, RichmorL; the Peoples savings bank at
Isl cnbursh and the backing hausa OF Burke
| l. ll,,hcr;, 10 AItxindia.
E;wir; iIatlap, The champion oarsuau ci