The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1886-05-27


basis for the assurance OF a revival OF
prosperity and general industrial progress.
We mentioned last week that contract
had been recently let by the management
of the Chesapeake and Ohio railroad for
the construction of new road from ASH
land, KY, to Coyington. KY, a distance
of / 10 miles, and that work would be com
menced on it at once, Another road is to
be bnilt from Gallipolis to. Cincinnati,
down the Ohio side of the river, and about
the same distance as that on the Kentucky
side. This is by another management.
A first mortgage for 100000 and a
second mortgage for ST 500, 900, on the
line of the Ohio River Railroad from
Wheeling TO Point Pleasant, 1856 miles,
were entered for record in the county re-
corders Office at Parkersburg. W. Va,
last Tuesday. The mortgage is made to
the Fidelity Insurance Trust and Safe
Deposit Company of Philadelphia. which
advances the money for the extension of
the road from Parkersburg to Point Pleas
ant, and releases former mortgage for
50 900. 900 The first IS due June l. 1886
and the second October /, 1926.
A manufacturer of steel rails says that
the year 1886 is going to be very active
one for the railroads, and, consequently,
steel rails will be in good demand. Ac
cording to the Herald. the great railroad
companies in the West appear to be get
ting ready for renewed extension of their
lines on a great scale. The announcement
of the Chicago and Northwestern new
issue of $50 600 900 of bonds is followed
by the negotiation of $l0000,0 900 of new
bonds by the Chicago and Rock Island,
which boldly declares that it is going to
build 700 miles of new road west OF the
Missouri River. The Chicago Burling
ton and Quincy is engaged in paralleling
the st. Paul's line in a region already
oyercrowded with roads, and it is pushing
the work vigorously, although the annual
report issued by the firstnamed road last
week made very bad financial showing as
compared with former years. Mr.. Hunt,
ington has secured the Cincinnati, Hamil
ton and Dayton road, which, in connecHon
with his Chesapeake and Ohio system,
gives him new through route from the
seaboard Newport News to Chicago, and
also lake terminal at Toledo.
On the other hand his Sunset route is to
be at once practically paralleled by the
Atkinson road in connection with its pur-
chase by the Gulf, Colorado and Sante Fe.
The Atkinson s extensions call for an is
sue Of over 81 900 600 of bonds, and the
purchase of the Gulf line will eventually
cause an issue Of $8,000,000 stock. Con
corning this purchase President Seeley, Of
the Gulf, says his road has constructed
and under construction about one thous-
and miles of railroad, with landed inter-
ests IN Texas and extensive terminal facil-
tiles at Galveston. He claims that
through his absorption of the Gulf road,
the Atchison will have a water connection
| with n ew York Uia Galveston quite as
short to the Pacific coast as the Sunset
route Ella New Orleans.
A dispatch from Chicago, dated the 23d,
says James Black, of London, England,
who has been in the city since Thursday
returned to New Y ork yesterday, expect
ing to be back in Chicago within ten days.
His mission here, be says, was TO agitate
a plan for the construction of a new short
line of railroad from Chicago to New
York, with branches from Cincinnati to
New ork, and from Chicago and Cincin
natl to Baltimore. The name for the pro-
posed system to be the Midland Railway.
A charter has already been secured. The
capital stock is to be 500, 100000. A line
of new steamers. to be built for the rail-
way company, viii. it is proposed, run be-
tween Baltimore and Liverpool. At Liv-
erpool the steamers will connect with the
London and n Northwestern, in the service
of which Mr. Black now is. The scheme
as outlined by Mr.. Black is thus for a sys
tenn extending from Chicago to London
practically under one management. Capt.
talists in England, Mr.. Black says, started
the project, and others in the East and in
this city have pledged financial assistance.
Mr.. Black was recently in Baltimore in
connection with the Maryland and Della
ware ship-canal.
Ali through the South, not excepting
Virginia and West Virginia, new railroad
projects are receiving shape, and promise
to be realized facts during the present
year In the Northwest and Pacific States
and Territories the same spirit of deyel-
opment is manifested. All these enter
priSes give assurance that the country is
about to break away from the nightmare
that has been depressing it for severa
years and more especially for the past
twelve months. The business of the Ma
ton feels secure against the destructive
policy Of the Democratic party, in that
the Senate is firmly Republican and will
stand as protection against the revou-
tionary measures, affecting industrial en-
terprises, which the Democrats favor. We
may therefore confidently look for gen
eral revival of business in the near future
and that Virginia and the South will share
in the activity and enterprise and devel-
opment that must follow.
Extension of the C. & o. r. r.
We mentioned last week that the con-
tract had been let to construct a railroad
from Ashland KY, to Covington, in the
same State, distance of about l40 miles
| Immediately down the Ohio River. The
present line Of the G. ana @. touches Mt.
Sterling, Winchester. and leans to the
mountain region. The new line will
shorten the distance to Cincinnati and
the West at least thirty miles, and will
bring the c.. and o. in communication
with large and prolific region of the Ohio
country, which has not heretofore been
tributary to it. Work Oh the contract
will be commenced at once, or as soon as
the contractors divide it and get the plants
in readiness. Masons, Gooch & Hoge and
Mcmahon & Green will take T-llths |
of the entire road and of the bridge |
across the Ohio from Covington to Gin
cnnati, and Shanahans & Powell the other
four elevenths.
These gentlemen are all experienced |
contractors, who have the confidence of !
not only Mr. Huntington but the entire |
country, where they are known. Their I
hi a