Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1888-02-10
THE C. & @. RAILWAY.
SENATE PASSES HOUSE, RESOLUTION TO
SELL THE STATES INTEREST INIT.
state-Commercs Law Under Discussion In
the House-Contested-Elec-
tion Cases

The Senate WIS chDeu 70 OrueI AZ noOu
yesterday by Northumberland John
+. Massey. No prayer.
OF the fifty or more local bills passed
by the House on Wednesday more than
one half were referred to the proper
committees, the others were placed on
the calendar
The Senate agreed to the amendments
proposed by the House TO the following
bills For the relief OF j. Il. Moss. adj
ministrator Of W. A. Moss, late trea-
surer of the county OF Buckingham
TO incorporate the Bristol and Danville
Railroad Company.
IMPORTANT MEASURES.
Among the bills reported from com
mittees were the following:
Authorizing the deposit OF public
money from certain counties in the First
National Bank of Lynchburg and the
National Bank, with an amendment
TO authorize the appointment of an in
spector of accounts of public officers and
those who exercise public trusts, defining
powers and duties, &c. making an APP
preparation for the hire of labor on the
Capitol Square and 10 prevent convict
labor thereon.
Bills PRESENTED.
Mr.. Koiner, from the Committee on
Finance, presented bill to authorize the
Register of the Land Office to have GER
tain plats and surveys recorded and IN
dexed These are the plats and surveys
for the wears from 1854 TO 1860 the fees
for recording which have been paid.
The clerk is to be paid sG5 per month,
and he shall not be employed exceeding
one year.
He. from the same committee, pre-
scented bill. the object of which is to
allow bank stock to be taxed for county
purposes.
BY Mr.. Rhea Petition of citizens
and the Town Council of Union III rela-
ton to the Southwest Lunatic Asylum.
CHESAPEAKE AND OHIO.
The readingof the House message, the
calling of committees, &C., consumed
over an hour, and when the Senate was
ready for new business Mr.. Mcdonald
offered the following
Whereas the State of Virginia now
owns a certain interest in the Chesa-
peake and Ohio railroad, consisting of
about II, 621 shares, for which the State
subscribed the sum of about 81, 1852, 100
by purchase of stock in a railroad for
merly known as the Louisa railroad,
and i'll another railroad formerly
known as the Virginia Central and
whereas both the Louisa and Virginia
Central railroads are now merged into
and known as the Chesapeake and
Ohio railroad and whereas a resolution
from the House OF Delegates of Virginia
was sent into the Senate of Virginia on
February &, 1888. authorizing the
Board Of Public Works 10 sell said
interest of the State of Virginia in the
Chesapeake and Ohio railroad, consist
ing of certain bonds or stocks and
whereas the Chesapeake and Ohio rail-
road has twice since the year 1865 gone
into the hands of a receiver, Dotwlth-
standing the fact that said railroad had
apparently its full share of patron
age and freights as compared with other
railroads which are apparently success
full and profitable Investments /; and
whereas it is the duty of the General
Assembly to protect by all means within
its power the interests of the State OF
Virginia and whereas by reliable infor-
nation, it is said that the State stock in
the Chesapeake and Ohio railroad
which cost the State 500 per share, has
now the value of but $3.50 to SO per
share. thereby entailing loss upon this
Commonwealth of 81, us, 100 therefore
be il
Rosolued By the Senate Che House of
Delegates concurring), That Joint com
mittee of three on the part of the Senate
and five on the part of the House be and
are hereby appointed and instructed to
inquire into the present value of the
State's interest, whether it be in bonds or
stocks, in said Chesapeake and Ohio rail-
road. and TO ascertain the cost to the
State of Virginia of each bond or share
of stock of said Chesapeake and Ohio
railroad when said State first became the
purchaser or owner of the same ; and
said committee are hereby further in
structed to ascertain if said bonds or
stocks now owned by the State OF Nir-
ginia OF the Chesapeake and Ohio rail
road have deprecated in value, and by
what means the States interests, con-
sisting of bonds or stocks as aforesaid,
have deprecated in value, and report
the same to this General Assembly.
2. ReSOiyed, That said Joint commit
tee are hereby empowered to send for
persons and papers necessary to ascer-
tain as far as possible the information
called for by this resolution, and If found
necessary to employ n stenographer.
3. ReSOlr6d, That the sale OF the
State interest in the bonds or stocks of
the Chesapeake and Ohio railroad be
postponed until after the report Of the
committee appointed by virtue Of these
resolutions.
Mr.. Koiner stated that the State was
in danger OF losing her interest in this
property. The passage of recent bill
providing for the reorganization of the
company was, he said, in the hands of
the Governor forratification. When his
signature was attached to it the State
would lose its interest by the subsequent
reorganization if it was not disposed of
before that time. If the company was
notreorganized foreclosure wouldtOllOw
and the State would still be the loser.
He said this for the information of the
gentleman from Northumberland.
Mr. Mcdonald arose at this point and
said that ne was perhaps better informed
as to the matter than the gentleman sup
posed, but would be unable 10 give the
necessary information except in com
mittee.
Mr.. Wickham at once stated that as a
of the railroad company
he accorded the gentleman full liberty
to give all the particulars of the case
with which he might be acquainted.
The rules were suspended and the re-
solution came up for immediate conside-
ration.
WARM WORDS.
Upon the question of the adoption OF
the resolution Mr.. Mcdonald stated that
he had seen this resolution providing
for the sale) presented in the House of
Delegates while other business was under
and hurriedly advanced to
its adoption. He was surprised to see
the same haste in the Senate. The State
bod bettor losa its shares than be q marty !