Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1881-02-03
The Virginia Midland Railway Go.
SPEECHES OF PRESIDENT BARBOUR AND DIREC
TOR WILLIAM kEYSER

SPEECHES OF PRESIDENT BARBOUR AND D1REc
TOR WILLIAM KEYsER.
The meeting OF the stockholders cf The Vir-
GINA Midland R'i'way Company, on crgan;zs
.iop, wh,c1. as Dir. R,bert Z, Baldwin said
has apru1R iron the ashes of the w, G.. V.
Nj. s. q. s. r. r. COMPANY, held ia this
city, on Tuesday last, wss 90 important
gathering, and IS the people of Virginia
arc among the most interested parties ibey
naturally desire to kEow something of The pol.
icy Of tho new management. We therefore.
append q synopsis CT the speeches of Messrs.
Barbour. Pfesdsst OF the company, and VIM.
keyser, Of Baltimore, member CT tho Board
of Directors.
Mr.. Barbour. upon being in.rodrc; ID to The
meeting, Said that DO had been advised by tho
| committee of his unanimous election as Pres-
| dent of the ctm psng, and aros, to return his
sincere thanks for Tho Lish compIinar. c,n-
Veycd, rs well cs Tor the manner in which the
stockholders had sliced him IS President Of
| the new orgnuiz .Iion. The position was not @
| NEW ono to lin. lie had been Pre- idept Il tho
old Orange and Alexandra Railroad Go. neariy
| from its incorporation, AID subTquenlly also of
the Orange, Alexandra aud Manassas Il. r..
Co.; Of the Lynohtueg and Dauvll!c Il. H. ca. !,
and finally of the W. G., V. NJ. & G. s. r.
Il. Co., after the consolidation of tho FIRST
named companies. The duties Of tho Office
| were const q1cndy not new to him. Perhaps
| the retererco to his past railroad experiouce, 10
view oil the disaster that had befal,cn tho old
company, might not furnish reason icr the
| present appointments, and, indeed, ho felt q
dihdeDcs himself in taking the position again.
Ho did not, however, regard himself 10 any
way responsible for that disaster, OF for tho
| Inability of tho company to nsintan its credit
at period when all the railroad companies of
! The country great ard small had to crcounter
| the depression succeeding tho financial panic
| OF Sept, 1873. and 10 which most of tho leading
railroad companies in Virginia had to succumb.
ln that crisis even the market value OF tho
| stocks OF tho great Baltimore and Ohio Rail-
road 20. end other leading trunk lines Of
the country were greatly dsprt catcd under tho
pressure referred to. Your old Company strug.
glcd under debt then that other railroads cy-
tending through much moro dcnsely populat.
cd country than Virginia, and With nUc1 larger
resources OF business would have toon uusbo 20
CARY. 10 this connection it is proper to state
that the relations OF your li0o OF railway TO 9TH
er loe6 OF railroad 10 Virginia and lis possible.
Ties Tor tra!Ec should DO duly COL sidered. While
CUE loo trdVerses ono Of the most important
s;c:iors of the State, extending from tho Poto
MIC to the borders of North Carolina, il orrsses
at interior points the Chesapeake and OHIO
Hallway lat CharlottesVieI anl tic Atlantic
Mississippi and Ohio Railroad st Lynch5nrg, |
and meets at its southern terminal point, Dam
VlI'c. tho Richmond and DaDvlc Railroad Co.,
and Heccssariy comes 10 corAc! at the points
| referred to With all tho companies mentioned
for through traffic. it being to tttit iotelcs: to
transport bee cnd TO their eva terminal points.
Tho weak point ct this railroad company
osS always bstn tho. its silualiln could
never conEard through tourugo Ind
upoo Its ltc:l territory. Narrowed uod Ic-
str;c:cd By thcso caus s, tic r;lmo: pll-
icy OF tic company was Lec,sssrY oou-
tiocl to locsl development and to tho en-
couragenent Of such malcli, Interests 90 the
country along tho line Of the railroad afforded.
10 tho drc 100 referred TO tho energies end
lnttlhgetc, OF tle sAto management were zoal
ously applied and l. is believed, and iudced
may bo co1GdsEt!y stated that policies TeIe
adopted the results CT which are tltcsdy roa-
lzed 10 th, largo iCcTecs, CT local Tonnage AID
tic proll5o OF still mole important; results. The
reference Is here moro participant 10 Tho iron
orc Development alorg the line OF lh5 read Ia
confederation Of this view Mr.. Barbour &C.
fe,rcd to tho fact that 10 1850 tho ruG,.
Der OF toes Of freight transported WIS
"a 90l. ia 1870 l2l,9ll tees, aui 10
1880 2j2 5i5 ions, Whlo tho passenger bus.
ness from 1860 to 1880 had beea doubled.
The Railroad is to-day lhysicaliy moro
vs!uabla properly than at any former period
OF It's history. The equipment hiss boon er-
larscd and The trsex now contains lOl
miles Of steel rails and 81 miles CT new iron rails
with the residue CT It's 1924 miles OF main limo OF
iron rails in good condition, which can be gratu-
ally renewed with tteel rs cirtm natsnces may
require About % miles Of the main line have
been ballssted with broken stone of excellent
quality and ahcuttho ssino distance with gravel
aud sand. With comparatively small expeuso
tho residue of the line will be bsllasted during
the curront yesr In taking It's new departure
the great ain and object Ct the organ ..ion
ought 10 BE- 10 foster aid encourage the
development Ct the local material inlerests
of the line Ind terminal cltios, and to
adopt the necessary measures to asset its
Independence fJr through business. by proper
extension Of It's limo Southwark, and TO give this
line of railway the proportions which its goo
graphical advantages entitlo i. to ptsNss. ar.
Barbour urged that the Baltimore representative
who have come into tho new orgGn:Z alton as
Directors CT the Company. with their large
means and ample capital, should not only sec
mat Ills line OF railway does not Etop, ct Dan
vile and its independence for through traffic
with the South secured thereby, bu! should also
lend their efforts, as far MS practicable towards
the local development Of the country, and It's
material interests. through which the Road
passes and OF lis terminal points. In tho light
OF this policy Mr. Barbour believed that The
Company will eventually enter upon s career
of great prosperity and become ITO srcG. .:urk
railway line of the Scu:h.
Mr.. VIM. Keyser. sscond vice president CT
tho Baltimore and Ohio Company, followed.
tie commenced by complimentary tho admin
istration OF Gel. Barbour in tho past, and
said that tho iaot that the road was compelled,
In order to prottc: ell interests during period
OF uuexampled depression, TO p!aco lis property
IN tho hands of receiver. By no means argues
want of administrative ability CD the part its
managers. The road. he CONTINUED, emerged
from tho lato civil war almost destroyed, its
physical condition wrecked, sid tho country
through wh CT it ran was rendered desoIato by
tho 1road IT conteDCi7g armies. Tho coun.
try slorg tho line had been depoDulsted, tho
property destroyed, aud large portion of the
land. from lack of tlIsge. had beclme uapro-