Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1881-01-25

mileage that could possibly be asked, viz 40
miles, an increase of 81 per cent over the pres
ent mileage, lit would only yield $4,000 more
| revenue, which he considered would be of no
assistance in the effort to secure mortgage on
the road, and besides could in no fair railroad
sense he asked of the B. & o. Co. 1t was entire
| ly futile to expect the Valley company to ex-
tricate itself from the dilemma in which it was
placed, except by active effort, such as is usual
with practical business men under similar
circumstances. Baltimore and the Baltimore
and Ohio road had paid up their bonds. but
there were some bonds withheld by the Valley
interest, and legally withheld.
/ Rockbridge had right to withhold its bonds
/ until the work was commenced with a view to
its completion entirely through the county-so
had Lexington and Staunton, and it was to ask
a concession or modif1cati on of that right that
the Board now appealed to the stockholders.
If that was denied he did not see but that the
extension of the road from Staunton would be
indefinitely postponed.
On motion the report was received and re-
ferred to the following Committee: A. P. Bar
clay, J. H. H. Figgat. R. W. Burke. J. Wilcox
Brown, c. NJ. Dold, W. A. Anderson and ]. E.
| A. Gibbs.
The meeting then adjourned until 5 o'clock,
at which time hecommittee through Mr.. Bar
| clay reported unanimously as follows:
| That the Board of Directors be and they here.
| by authorized to issue the bonds of this compa-
| ny to the amount sufficient, with the other
means and resources of the Company, to COM
plete the construction ofthe Valley Railroad to
the North River at the town Of Lexington,
such amount, in the aggregate, not to exceed
seven Hundred Thousand Dollars; and to Sc
cure said bonds and the semi-annual interest
on the same at the rate6f six per centum per
| annum. said bonds to run thirty years from
the date thereof, and to be payable at such
| place and places as said Board may direct.
Said Board of Directors is authorized to create
a mortgage or trust deed upon the franchise
| and property of the Valley railroad company,
to be duly recorded according to law, and said
bonds to be disposed of at not less than ninety
per cent of their par value, said Board shall
cause to be used in the construction and COM
| pletion of said railroad to the North River, at
the town of Lexington, in the county of Rock
bridge.
That the Stockholders of the Valley R. R.
| Company in general meeting assembled do APP
prove and assent and SO far as they are compe-
tent to speak and act, in behalf of the parties
| III AAtoIcst w dSrec ldS pTOVlUeO III Inc recOm-
mendation of the Board of Directors) that in
case the means be procured to complete the
said road to the North River at Lexington,
that point shall continue to be the Southern
terminus, as aforesaid. of the Valley R. r. un-
til the company itself, by a majority gifts own
interests, shall deem it to be safe and judicious
to undertake to extend said road Southwark;
and that the said Company shall be left to de-
| termine this matter Tor itself free from and
| protected againstIunfriendly legislation on the
one hand and hostile litigation on the other:
and the Stockholders here present do pledge
themselves, as far as they can, to protect the
| company from such legislation and litigation.
In regard to the demand for the county and
city subscriptions, the report recommends that
the matter be left to the action of the Board of
Directors and the proceeds of the Bonds unde-
l1vered or such portion of them as may be
| available, to be used in connection with the
mortgage ordered to complete the road to Lex
ington.
The report of the committee was unanimous
ly adopted.
ELECTION OF OFFICERS.
VIM. Keyser, was unanimously reelected
President and in returning thanks for the con-
fidence reposed in him by the Stockholders,
said that he hoped when his successor should
be elected year her ce, he would be President
off road completed, at least, to Lexington.
All of the members OF the Board of Directors
were elected, except that r. w. Burke was
substituted in place of Gen. Echols whe de-
clined reelection because of similar position
he held in the G. & o. R. W.. which might in
the future become incompatible.
On motion the meeting adjourned after hay
ing accomplished the business before it speedi-
ly and harmoniously.
The action of the meeting has awakened
renewed interest in road and hopes are enter
tanned by some that it may result in the early
completion of the road to Lexington; others,
however, are doubtful about the counties and
towns complying with the proposition made
and adopted.
The AMERICAN MEDICAL BEVERLY
This Journal, which was formerly published in
Louisville, KY, and which had nearly reached
the close Of the eleventh volume when the Sc
we're and protracted illness of the Editor COM
PEELED It's discontinuance, is now, on his en-
tire recovery, restored to its position among
the Medical Journals of this country, The
Editor, DR.. E. S. Gaillard having made his
home in New York, the Bi-Weeklyis now pub
Iished there. The first number of volume
| twelve has been received. It is now double
| column Medical Journal, larger than the old
Bi-Weekly. and is published at $l.OO year
the former terms being $500. The Bi-Weekly
is with pleasure again placed upon the Ex-
change list. Its address is Box 1l24 N. Y. City.
ECLIPSES FOR 1SS1.-Astronomers tell us that
the present year will be quite prolific in
| ecl1pses, the sun and moon each being allotted
two. On the 9th of May the first will occur
| II, |,
few minutes before sunset, and Will be visible,
what there is of it, in this latitude. June 18th,
the almanac makers say, grand treat is in
store for us. An eclipse of the moon, visible
in this section, will take place. The moon will
enter the shadow shortly after midnight, and
will remain eclipsed until four O'Clock. Thus
the young men VIII be afforded an excellent
opportunity to sit up with their lady friends,
the principal object, of course,> being simply
to witness the playing Of the shadow on the
| face of the moon.
| A SLIDE ON THE G. & o. r. Ron last Sun
day night freight train following the express
East as it was passing curve about mile be-
yond Sewell. in West Va, was overwhelmed
by slide from the mountain side above the
track, completely wrecking fifteen freight
| cars. smashing up the engine, and killing a.
tramp who was stealing ride Whilst a son
of Capt. Snead's was assisting in coupling the
cars. the engine was suddenly backed, CATCH
ing his hand between the bumpers and caus-
ing the loss of the fore-finger and thumb of the
left hand. He was telegraph operator at Fire
Creek and was brought on to Staunton, where
he received proper surgical attention.
ASSESSMENT OF 1880 IN HIGHLAND COUNTY.
The new assessment of lands, buildings, &C.,
of this county shows depreciation from the
valuations of 1875 of $2l2S6O. These are the
figures:
Assessment of 1875.
Monterey ................ ......... 2l038
StOneWall 1S| 800
u.x.1 n17 700