The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1883-11-21
LEXINGTON.

ANNUAL MEETING OF THE STOCKHOLDERS OF
THE VALLEY NEUTRALITY-SUSPICIOUS. BE-
TWEEN TIE VALLEY AND ALLEGHENY
EALIOApS-F FINANCIAL EXHIBIrS-wIlAT
IT Is THOUGHT WILL BE ACCOMPLISHED.
Correspondence ot the Richmond DisDatch.I
NOVEMBER II, 1883.
UDon the invitation OF President Spen-
Ger. of the Valley Railroad Company, the
Board Of Supervisors OF Rockbridge coun-
tv and the Town Council OF LcXing-
ton left here Yesterday on special train
for Staunton to attend the annual meeting
of the stockholders Of the Valley Railroad
Company.' The meeting was held in Staun-
ton. at the Office OF the company, and a
large majority Of stock was represented
either in person OF by proxy. the report
of the president was presented. The net
earnings. rs COMPARED with 1882, show an
increase OF 2G per cent, and as compared
with 1881 an increase Of III per cent. The
total EXPENDITURES on construction OF the
Lexington extension TO date since the re-
SUMPTION Of work in 1881 amount TO $685.
1878.
"A handsome brick passenger station has
been erected nj Staunton. and substantial
line OF telegraph OF two wires built be-
tween Staunton and Lexington. a hand
some station-houSe, after the model OF the
one in StauntOn, but much larger, IS IN
process OF construction at Lexington. The
Richmond and Allegheny Railroad Com
Janv has completed its connection with
the Valley railroad between North river
and Lexington. and all arrangements arc
made for the Joint use by the two compa-
MES OF that portion OF the line between the
Richmond and Allegheny Junction and
the Lexington depot. a favorable traffic
agreement has been made between the two
companies for the Interchange OF business
at Lexington. and il il confidently believed
that large and satisfactory traffic awaits
the opening Of the line.
The iron ores OF the James-River Valley
and vicinity continue TO grow in favor
with the steel and other manufacturers,
and the Valley route will be the shortest
and most direct between the ore-beds and
the Pennsylvania furnaces. LynchDlre
continues to increase its coke consumption
and this line will shorten the distance be-
tween that point and the coke-telds nearly
fifty miles. The Valley route will also be
the short line between Lynchburg, Chlca-
20, and the Northwest. On the completion
of the road to Lexington the Valley Rail
road COMPANY will become entitled to
slOO,sOO OF Rockbridge county bond,
under the terms OF the subscription by that
county to the capital stock OF the company
and TO $4,000 from the town OF LeXlng'
on. IL is.estimsted that at least S250,000
oi the frst-mortgage bonds OF the com
pany will remain in the treasury after
all expenses OF construction on The
Lexington extension have been met. The
Rockbridge county bonds now on hand
viz, S52, 300-wili almost meet the remain
ing Indebtedness 10 the Baltimore and Ohit
Company on the old construction and cur
rent accounts. This will leave the VALLEY
Company with about 1862, 900 OF available
securities i'm hand in addition to the bonds
OF Boteiourt and Roanoke counties.
Passenger trains VIII be put on perma
nently between Lexington and Baltimore
and Washington, with through cars t.
both cities. and close connection made u
Harper's Ferry TO and from Pittsburgh
Chicago, Cincinnati, and the West, and l
Is proposed to inaugurate at an early dat,
night trains between Lexington and Bait
more with through sleepers.
The Rockbndge delegation, with Presi
dent Spencer; Register Robb. OF Baltl
more; Councilman Duval, OF the city o
Baltimore, and other distinguished gentle
men, returned yesterday TO Lexington OF
special train, where they were enter
tanned at the National Hotel and driven u
the principal points OF interest about The
town. al Il. NJ. the Baltimore party re
turned 10 Staunton. ).