The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1881-02-11

| ROAD KNOCKED OUT AT 80 605O00-
SCENES AND INCIDENTs-HOW THE ROAD
Is PROPOSED TO Re OPERATED-PER-
SoNAL, &C., &C.
Mr.. Clarence II. Clarke, who yesterday
purchased the property and franchises OF
the Atlantic, Mississippi aud Ohio railroad,
is member OF the banking-house OF
Clarke n Co., Philadelphia. They are also
the financial agents Of ;he SHENANDOAH VAL
ley Construction Company. The president
Of that company. Mr.. f. j. Kimball, was
also present at the sale. 1t j. understood
that their plan is to extend their line TO the
month Of the south branch OF the North
river to run over the track OF the Rlch-
mOnd and Allegheny railroad to Bu-
chanan, about forty miles, and 10
build from that point 20 the Atlantic,
/ Mississippi and Ohio railroad at or west OF
Salem. This gives them an almost direct
line from Bristol 10 Philadelphia. and puts
the Virginia Midland out Of competition
for the northern trade. The road in these
hands. it is thought. ill be a decided bcnc-
III TO the Richmond and Alcgnany railroad,
not only on account OF the mileage it will
receive in a general system. but because it
will give a new outlet for orc,. l. may also
be assumed that some portion Of the trade
of Southwest Virginia will be turned at
Buchanan to Richmond. This injury to
the virginia Midland and help TO the Rich
mond and Allegheny are the only apparent
effects it will have upon Virginia roads.
The cause Of alarm in this purchase lies
mainly in the fact that 1t connects the South
west by another short line with northern
cities, and we know what a terrible draught
these cities are. As 10 the future manage
ment OF the line the faircSt assurances are
given; but these may mean little. The real
intereSt Of the purchasers will hang in The
balance. Whether they will prof more
bv the haul to Norfolk or by the
haul TO Harrisburg i not yet apparent. 1t
is reasonable, however. 10 assume that the
road will be operated on business FIinci-
p!eS. and that L,nchburg, Petersburg, and
Norfolk will receive their former. aOd per-
hans a larger, consideration. Mr.. Clalke
states that his company does not, a has
been charged. represent jay Gould or my
other operator, bat that the party who fur
nIsh the sinew> OF war has been labOriou' ly
formed during the past two months in Eng
land, and he says that while there will be a
great system crossing the length and breadth
Of virginia. the Atlantic, Mississippi and
Ohio will not b. the lesser party. Rich
mond never had hoped much from this road
since TIE consolidation, bat she can hardly
receive worse treatment than the late man
agement gave To her, and there Is reason TO
hone that she will be fairly treated.
THE ATLANTIC, MISSISSIPPI AND OHIO ROAD.
The Atlantic. Mississippi and Ohio rail-
road j. 420 miles long. LVnchburg being
TIE middle pOiut. East Il Lynchburg the
line passes through an unprOductive cOun'
Try. and lis local business, Omitling that OF
| FarmVille ana PelerSOuTg, is OF iitle value.
West Of Lynchburg the line passes over the
Blue Ridge MOUNTAINS aud along The gres
Valley through one OF the most beautiful
and fertile districts in the world. The price
paid for the road i, regarded by railroad
men a, a liberal one. II is, in fact, between
$50, 900 and 100000 per mile, ana ii is siid
! that new and parallel road could be built
/ for less money. The line is largely depcn-
dent upon through business, and il IS threat
ened with a diversion over the Richmond
and Dlnyile railroad. Il dders were
timid on account OF what they deemed
a necessary arrangement win the roads
west of il, and 10 any other person
| c,pnAratiOn this nlSfg4lp
| The revenue, for the last few wears. how
ever, indicate that this i fair investment,
and il is an assuring fact that a railroad un-
der foreclosure in Vi:einia, one half Of
which has little local business, has brought
in cash over $4,000 per mile.
| ITS CONNECTIONS.
| At Bristol the line connects with the East
| Tennessee. Virginia and Georgia road, At
| Lynchburg WIKI the Virginia Midland and
Richmond and Allegheny. at Burkev'lle
with he Richmond and DlnyIlr. at Peters
| burg with the Richmond aud Petersburg,
aDd at Norfolk with the sea.
| II i TO be hoped thai The purchasers will
n1ver see cau,c TO regret tui, evidence Of
faith, and that Virginia and her cities will
find that the enterprise and courage that
| baye been brought into this great line will
bring her benefits that will greatly out
weigh the nominal loss.
THE CROWD IL ATTENDANCE.
| The announcement in yesterdays Dis
match that the efforts Of the Atlantic, Mis-
| sisSippi and Ohio Railroad Company TO
postpone the sale OF their property had
| failed in the United States Circuit Court,
and that the sale would take place
Yesterday as advertised, drew together
| a large crowd Ct persons, some intent on
business, and others as interested specta-
tors. Many businessmen and capitalists
from all sections OF the country were
present, and the question rs TO who would
| be the successful bidders was fully dis
cussed with that freedom and accuracy (or
rather inaccuracy) which always marks the
predictions of the average crowd.
CREDITORS PROTECTED.
The sale took place from the northern
! front Of the custom house, and promptly at
the hour OF II NJ. Mr.. Kelley came forward
and said that as the impression might be
| left on the minds OF some that the Interests
OF certain parties concerned in This case
had been neglected, bv permission OF the
master he would read the following:
"RICHMoND, Va, February 10. 1891.
d" Matinee +. PteaSantS, Esq, Master in
Equity:
"Dear Sir,-You ale hereby formally
notified and requested TO announce publicly
for the information OF bidders that the sale
Of the Atlantic, Mississippi and Ohio rail-
road, to be made by YOU to-day. is subject
to the rights Of the executors OF David Gra-
ham, deceased, and others, unsatished
stockholders of the Virginia and Tennessee
Railroad Company, as asserted in suit In
eluitY now pending in The Cil cult Court Of