The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1880-03-05

sent given as asaresaid, the party Of the sirs
part hereby asfces and covenants TO com
pletc the rsiIroad OF the party OF the sec
ond part along its entire line from Bu.
cbannn 10 Clifton Forge, snd to equip tbs
same within twenty months from the date
at which the james River and KaDawba
Company shall convey to fbe party OF the
frst part Its works, property, and fTDrebises
as contemplated In the agreement aforesaid
Between the two companies Aforesaid. Il
Second. That Of the $500. 200 Of bonds Of
the United States or other securities TO bs
deposited under said agreement with the
Board OF Public Works the sum OF $6S,0e0
shall be held by the said Board as security
for the performance OF this contract; sub
ject, however, TO the pledge under which
they are TO be deposited as under the con-
tract between the two companies as afore-
said.
Third. That before the transfer Of the
works, property, and franchises OF the
james River and Kanawha Company under
the contract aforesaid the party OF the first
part shall furnish to the Buchanan and
Clifton Forge Railway Company, In ex-
change for its mortgage bonds at ninety
ceuts in the dollar, $4,000 In cash, to be
used by the said company in payment and
discharge OF its floating debt other than the
s5 800 OF negotiable notes held by Lynch
burg banks and bankers (Which are secured
by pledges as collateral OF $1,000 OF mort
gage bonds) and other than unpaid land
damages.
In testimony whereof, the parties hereto
have bereunto affixed their corporate seals,
and have caused these presents to be signed
by their respective presidents, the same be-
ing done in duplicate, this 4th day OF March,
1880.
The RICHMOND AND ALLEGHANY r. r. Co.,
by Thomas N. Barthoiomew,
President.
THE BUCHANAN AND CLIFTON FORGE R'Y Co.,
by John w. Johnston,
President.
FORTHCOMING REPORT.
Major Johnston stated to the stockholders
that it was his intention at some future
meeting OF the stockholders OF the James
Rive and Kanawha Company to present
report reviewing the transactions in con-
neciion with the present negotiations up to
the present time, which lie desired should
be printed.
THE Five HUNDRED THOUSAND DOLLARS
PCT UP.
About 4 p. NJ. Mr.. John T.. Massey, Au-
diior OF Public Accounts and member OF the
Board OF Public Works, appeared before
the stockholders, in company with MIR.
Thomas N. Bartholomew, president OF the
Richmond and Allegheny Railroad Com
pany, and other members OF that company,
and stated that the company bad given evil
denee Of the deposit OF ?500,000 in United
States bonds required by law to be held as
guarantee Of the good faith OF the COM
pany TO construct the road.
Mr.. Massey then read the following:
RICHMOND, VA, March 4, 1890.
To the Board Of Public Works, Richmond,
Ya.:
Gentlemen, have purchased and
hold for the account OF the Richmond and
Allegheny Railroad Company for the de-
posit in your custody OF such bonds the
sum OF Sj00,0O0 in value in United States
bonds, known as per cents.
Very respectfully, &. n. JORDAN,
Third National Bank OF the city OF New
York.
The following endorsement was written
upon the back OF this certificate:
The Board OF Public Works would be
pleased to know whether tins deposit is
satisfactory to the Jane River and Kama
wba Canal Company, the original having
been deposited with the Board OF Public
Works. Very respectfully,
FRED. w. NJ. HOLIDAY,
President Board OF Public Works.
A CERTIFICATE FROM TREASURER REYNOLDS.
Also the following:
RICHMOND, VA, March 4, 1880.
/ hereby certify that on visit made Dy
myself TO the city OF New York for the
purpose OF obtaining information in regard
TO the pecuniary status OF certain parties
who have associated themselves together, I'M
der the name and style OF the Richmond ana
Allegheny Railroad Company, for the pur-
pose OF purchasing and becoming owners oil
the James River and Kanawha Canal Com
pany that out OF the abundance OF evidence
obtained, am fully satisfied not only Oh the
abundant ability Of the above-named compa,,
nv to aon,ply with the terms OF the proposed
purchase, but also OF the safe ana reiiapie
n,cuniary condition OF the First National
Rank Of the city OF New York and also OF
rhe Third National Bank OF said city.
G. VI. REYNOLDS,
Treasurer OF Virginia.
CERTIFICATE OF THE BOARD OF PUBLIC WORKS
Tho following certificate from the Board
of Public Works was subsequently pre-
sented by Mr.. Massey:
| OFFICE OF The BOARD OF PUBLIC WORKS, J
RICHMOND, March 4, 1880.
The Board certities to the James RIVER
and Kanawha Company that the Richmond
AMI Alleshsny Railroad Company mas de'
poslte6 with the Board five hundred thou
sand dollars in value in United States bonds
the same being deposited IN compliance
With requirements OF the act OF ,As>embi!
approved February q, 1879, and the aet !
amepdatory thereof, and in contemplation
Of the purchase by said Richmond and Al
lepbany Railroad Company OF the works
property, and franchises OF the James HiVe
and Kanawha Company.
FRED. W. NJ. HOLIDAY,
President OF Board Public Works;
joan +. MASSEY,
&. NJ. REYNOLDS.
NOTIFICATION PROM THE RICHMOND AM
ALLEGHANY RAILROAD COMPANY
Major Johnston next read the following
| ,,-.-.o...> avn rculNy RAILROAD Co., ]