The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1881-02-10
A. M. s. 0. R. R.

VtRGINIA's $4,000,00O CLAIM PURCHASED FOR
$4,000 The MAHoNE-CLYDE ComB1NA-
TIoN.
RICHMOND, Va, February THE board of
directors Of the Atlantic, Mississippi and Ohio
Railroad company are in session tonight. and
len. Malone is explaining his plans to them.
1t is understood that Mahone's application for
leave to redeem the road is backed by the
Clyde interest, which has already control of
the leading lines of railway in North and
South Carolina and Georgia, and which will
put up the necessary money here to pay inter-
est arrearage on the Atlantic, Mississippi and
Ohio, $2000,000 being needed for that pur-
pose The foreign bondholders who have or
ganized to buy the road will, it is understood,
oppose the motion OF Malone, as will another
interest representing third syndicate. Wheth-
er the last named is in the interest of Baltimore
s. Ohio or the Shenandoah Valley Company is
not known by those who are willing to con-
rse ON the subject. The Atlantic, MISSISSIPPI
pi and Ohio owe the State of Virginia 81 ,OO0-
900 and counsel representing the Clyde inter-
est appeared before the Board of Public Works
this evening and made purchase oft, condi-
tonal upon the ratification of the sale by the
legislature for 100000 of which 100000 is
cash down. Gov. Holiday opposed with all
his might the contract entered into, but was
out-voted by other members Of the board.
here are liens amounting to over $l0,-
900, 900 prior to the States claim. Had oppor-
tunity been given to competing interests, it is
nevertheless believed a better price could have
been secured, which is, however, a matter of
conjecture. 1t is the general belief here that
in case the Malone Clyde interest succeed, the
vast treights of the railroads, now carried to
Norfolk and emptied into steamers of the Old
Dominion line for transportation to New
York, will be hereafter turned over at that
point to the Clyde steamers and freights
brought from the South overt the DanYile road
and connections may be turned off at Burke
vile to Norfolk. or continued through Rich
mond to West Point, as at present. 1t is rep
resented bv parties who ought to know that if
the Mahone-Clyde scheme succeeds, Malone
will not have, and does not desire, any official
connection with the road. This lntimation
is of character to ally opposition from some
influential quarters. Had application been
made earlier, there is no question that
the equity OF redemption. practice and princi-
pie would have entitled the company to re-
claim their property, but the sale has been
once postponed, and 10 finally announced for
Thursday After years of litigation the ex-
pectation is that there will be lively times N
court tomorrow, especially as Gen. Ben But
Ter appears there as counsel tor the stockhoi-
ders OF the railroad company.
1.-THE other two members of the Board Of
Public Works, are Corbin NJ. Reynolds, State
Treasurer, and Jno. E. Massey, Auditor Of
Public Accounts II seems that the two wings
of the Democracy must come in conflict when
ever they meet Gov. Holiday represents the one
opposed to surrendering 100000 claim for
$500 900 and the other two favoring it..