Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1886-11-24
Railroad Movements.

The settlement Of the conflicting interests
in the Richmond and Danville and Rich
mond and West Point Terminal and Ware
house Companies was consummated in New
York Saturday goth inst, by the sale of
the stock representing the control of the
Richmond and Danville Railroad for SIS,
900, 900 cash and 81, 500, 900 in stock of the
Richmond AND West Point Terminal and
Warehouse Company. The old board Of
directors of the Richmond and West Point
Terminal and Warehouse Company resign
ed, and new board, consisting Alfred
Sully, Emanuel Lehman, Isaac L. Rice,
Thomas N. Logan, George F. Stone and
]. A. Rutherford were elected in their
place. The new board imm ediately organ
ized By electing Alfred Sully president, and
T. NJ. Logan vice-president. Mr.. Edward
Lauterbach WAS elected general counsel to
the board, and Col. W. W. Gordon, of Vir-
ginia, general counsel in the Southern
States. a committee was appointed to
issue a notice to stockholders for subsorip-
lions to the 100000 cash required to
acquire control Of the Richmond and Dan
Vile Railroad, each stakeholder to be en-
titled to subscribe to an amount equal to
one third of his holdings in Richmond and
West Point Terminal stock, and receive
common stock therefor equal to one-half
the amount Of his present holdings and pre-
ferred stock at par for the cash subscribed.
The capital stock Of the Richmond and
West Point Terminal Company will be in
creased accordingly.
The management for some time past has
not been satisfactory to Richmond interests
arising principally from the regulations
governing the freight-department and the
order which removed the officers to Wash
ington. The parties from Richmond who
with others have purchased a controlling
interest bringing about the changes noted
above are Mr.. J. B. Pace and Gen. T. M.
Logan. Both are wealthy, MIR. Pace, it is
said, is worth three millions.
Colonel ~ S. Buford commencing in
1865 as president of the Richmond and Dan
villo Railroad has been continued at the
head of the various organizations, censoli-
dations and leases which now control under
one management over two thousand miles of
rail way ia the south radiating as a base
from the Richmond and Danville line.
x The Disputed of the 21st says
THE ne US of the recent deal in DanvilIe
o1- Oh t.,
others secure control of the Danylle sys-
: TEN, has been received with profound salts
/; faction by our citizens. The Danville sys-
tenn pens rates a territory the trade of
which is OF inestimable value to Richmond,
and the knowledge that men having the
interest Of the city deeply at heart are now
IN position to influence the policy of the
company is source of great qualification
to our me. chants especially
The va; Gus Interests that are projecting
a railroad line from Lynchburg to Durham,
North CSFolina, we're in consultation at
Danville on the 10Th instant. The city of
Lynchbass, and Campbell and Halifax
counties "a Va. and the North Carolina
counties have voted subscriptions. The
following g taken from the comment of the
Lynchbuig Neaes on the proceedings Of the
conference referred to-
'MajoE William A. Anderson, of Lex
iBgton, was present in the meeting to rep
resent lhe Pttsburg and Virginia road,
which he ,,esires to connect with our read
and make i grand chain Of railway from
the North aest to the Gulf. He ably pre-
sented tha matter and made favorable
impression. Some seventy miles OF the
road running south from Pittsbarg have
bsen bull, and at Lexington it would con-
meet with the Richmond aud Allegheny, SO
that only Aonle $50 miles remain TO be con-
structed. 1t would pass through an entire-
~ undeyel ped country. one rich in timber,
minerals 'sld grass, and which would con-
stitute 3 fine new field for Lynchburg
entcrprsa. The counties would be Path,
Psndletou, Highland, Randolph. Tucker,
etc. TIL project is of course thing in
the future, but it may come to be a realized
fact and 4us which may bring much good
to our city. The two roads would work
well togs her.