Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1889-11-19


Tho interest on the debt and the usual diYi-
dends at per cent per annum have bean paid.
The company has bought and paid FOR about
ninety acres q land AZ the junction Of the James
l,iror brarch, mile south OF Manchester, ana
& all tho ric.t ~ way about forty acres 10 e1ten
tho hn9 o. the north side o, thr James river,
west o. Richmond. huch Of the WORK on MS
branch has been done. but the completion OF 10
will te delayed by loyal difficulties OF the cou-
necfion on the north side
Tho rapid increase IN tonnage OF through
freight business has demonstrated tho necessity
for this connection. Even n tho city OF kch-
mOnd would permit the continued use OF the
connection track through the city by ihe pres
cnt or any Otha- line the physical dinculues
ip handling these trains would % insurmounta-
bic. Tho present bridge and tracks are Quie
inadequate, 40 that az tifnos Blockade OF over
2D cars have been standing Idle On the Man
chester side AID the company has been COM
PEELED 20 refuse great deal of through Dusl-
moss, which has gone by way OF Portsmouth or
Danville and Lynchburg. Il ia hoped that b.
fore tho end OF another year all this business
can he brought over the Richmond and Peters
burg. Tho cost Of the connection VIII DO very
great, but n tho company would keep up WIN
the railroad competition Of tne DAY the facili-
ties must BE- provided, and this branch - tbe
only possible solution Of Tho difficulty.
IL Is truo The net revenues o. tho company
have not materially Increased, but this ~ b.
cause ~ tho heavy outlay for new ami Increased
equipment and tho great reduction IN rates. An
additional outlay for double track on tho
whole limo has forced itself en- the consideration
Of TIE directors. 1. i3 feared ~ cannot De- much
longer delayed. Tho local and through pa-sen-
g9r ncrommodation demanded by tn public, IN
. cludinc the connection with the Norfok &bi
Western railroad. mak0 the handling OF hoAyy
freight trains on single track very diIlcuit Ihe
public will not travel on mixed trains.
Accidents have been very rare. No passenger
Ia. tocn Killed. or seriously injured on tho fohd
/ Tor twenty years, but If tho increase OK train
mileage COS limos tue stockholders had ns we'll
face fue ne errssiiy OF this a.titOnal outlay. The
cost nas not been definitely o5timatrd. Two
hundred thousand dollars would probably nc
compli-h all nee tot tor the present, when would
. not allow any expenditure on the JRncs-riyer
bridge, Duf the bridge on the now branch would
so relieve ihe present bridge that d0uble-iracE
bridge may uOt be needed.
IT, moet the extraordinary expenditures pro
posed above and to provide for the existing debt
ihe following resolution was unanimou tly aiOpt-
ed 81 q meeting of the board held to-day;
IcsDfre4. ] hat for the purpose %; providing Tor
all obligations and indie ebicdne5s Of this company,
and tor It's other lawful uses nni purposes. the
Board of DIroctora recommend the stockholders
20 authori1- She execution OF "A dced or trust or
mortgage, iu which shall be conveyed thc rail-
r0al and works Il tbs company. IT. franchises
ana corporate rights together with sucn other
Of its property a. shall be moro parii 'ulariy
mentioned and described therein, 10 secure an
is.ue OF bonds Oi this company to an amount not
exceeding ono million dollars.
Tho directors have declared the usual scmi-
annual dividend ~ ~ per cent. payable IN
January. lEkp. Il ~lOlkf lif-lltAl.
ONr MILLION DOLLARS N BONDS.
Major Fred. r.. Scott offered Che follow
ing resolution. which was adopted:
Re.5fred, by M stoctholiers or me Richmond
and ftfe.sbUrg ILi reHd CofaydHU, fp general
roes'i1g assembled, That the President and
BJhri 0f Directors be, and they are hereby, au-
thOriZed aud empowered 10 prepare and issue at
their die retiOu for fle purpose OF prOviiug for
all thc obligations and Indebtedness Of this COM
t ny NIITrNg-n OF HllfffIunl alflfu-
ment, for dOube-tra king the ROAD, Tor con-tru,-
/ ti0u Of tho J0mes-kiver branch, and any other
! hTanrns. and extensions that may De deemed
| houoIclql, md TOR it, oiu'r laWfu purpose "a
bonds 90 the amount Of sLO0Nfnj, to he Ot surh
denominations and Of such form and date and
time and rate OF interest as TIE Boari OF Direc-
tors may determine; and tho said President 10
further authorizel and empowered for and lu
behali OF this company g. execute and cause q
/ be recorded decd Of trust or mortgage, ii
/ which shall be conveyed oil the railroad and
/ works Of the company. its franchises ant corpO-
rafe rights, t0gofhor al IN sucn other of It's pro-
/ periy ROW held. or which may hereafter ie lc-
+ Quired, ~ The President and Board of Directors
may lsem 10 proper lo convey, and also me nei
.,.oi-les oi th8 company 90 secure the tull and
Nual payment ~ tho principal and interest o
the bonds herein before au horizod to be issued
and that the t9rms' conditions, and covenants oi
said deed ~ trust or mortgage lo De in other lc-
/ , poets sch as tho Board OF Directors shall ap'
/ provo ami adopt
| ELECTION or OFFICERS.
Maio- Fred. h. Scott vas reclectedpresi-
don't,
/ The following directors were chosen
+ Ne-.r7. Fred. H. Scott. ". I. Walters. II.
/ Walters. h. X. tllysou, d. W. Lasslter, and
/ John q. Palmer.
Colonel Palmer was chosen in the place
Of the lato r. r. Bridges. All the other
! directors are mombers of the old board
The following committee wls chosen 70
examine the road and other properties Of
/ the company: Me.srs. Charles Ellis, John
/ Z. Brancn. H. l.. G. B4skeryIl, J.. c.
| Nenable. aud John 3. Palmer.
II MFMJEIAM.
Resolutions in respect 10 the memory oi
the late R. r. Bridges and ". ii. HaxalI
We're adopted.
The former was director of the road
and the latter "a member Of the Examlna-
l tiou Committee.