Shepherdstown register. [volume] (Shepherdstown, Va. [W. Va.]) 1849-1955, 1890-09-12
Iha News of the Railroads.

saws that the plan for the reorganl
cation of the Shenandoah Valley
Railroad, which has been in the hands
of a receiver for more than fiveyears
has at last made its appearance. The
road is to be sold at foreclosure sale
on September 80, and the committees
of first mortgage and general mort,
gage bondholders have agreed upon
Louis Fitzgerald, George G. Wood
and Frank p. Clark as a committee to
buy in the property.
The reorganization plan contem-
plates the issue of $40, 100000 OF fifty
year five per cent. mortgage bonds,
81, 100000 of preferred stock and
100000 of common stock. The
preferred and common stock is to
be transferred to the Norfolk and
Western Railroad in consideration of
certain guarantees. The holders of
present Shenandoah Valley first mort
gage seven per cent. bonds will re-
ceive par and full interest in new
mortgage bonds, being at the rate OF
81, 400 per bond; the holders of Shen-
andoah Valley general mortgage
bonds pay an assessment of $50 per
| s.. 900 bond and receive 81, 100 in Nor
folk and Western preferred stock. No
provision seems to have been made
for the holders of Shenandoah Valley
income bonds and stock.
The new bonds are to be guaranteed
by the Norfolk and Western Railroad.
OF the $10OOO,0OO authorized, S3,223,
400 will be issued in taking up the
present first mortgage bonds, S4,216,-
600 will be used In paying off receiv-
ers' certificates, car trust obligations,
for costs of reorganization, for double
tracking and improvements and
equipment, and the remaining $4,000
900 will be spent in securing a ter
minus in Washington, ID. c., and in
the construction of road from Front
Royal to that city. The plan will un-
doubtedly go through, as all opposi
ton to the committee has been al
layed.
Col. Charles NJ. Futterer, Travelling
Agent of the Shenandoah Valley Rail
road, was busy last week getting the
crowds to and from Morgan's Grove,
and that he was successful is evil
denced by the fact that not train
was delayed, not person was hurt,
and not even quarrel occurred. The
Colonel is a genial and clever gentle
man, and is interchangeable at all times
in promoting the interests Of the road.
The right man in the right place, is
Colonel Futterer.
The passenger traffic on the Shen-
andoah Valley Railroad is on the in
crease. A persistent effort to develop
it, especially in local way, would
make it much greater.
Mr.. John Feldman, who has been
with the Cumberland Valley Railroad
for sixteen years, has resigned to go
into the real estate business in Ha-
gerstown.
Saws the Manufacturers Record:
During the last ten years the South
has built nearly 10000 miles Of new
railroad. an increase of about 100 per
cent. over 1880, the total mileage for
this section at present being over
40, 900. Will the same rate of increas
continue during the next ten years,
and thus give the South oyer $4,000
miles of railroad in 1900? 1t is quite
possible that it will, and we believe
that ten years hence the South will
have double its present railroad mile
age, as extravaganza as such predic-
ton may seem to many.
E. F. Emmons, employed as fireman
on the Shenandoah Valley Railroad,
| lost two fingers and thumb while
| cOu ping cars the otner hlSHI.
Therailroad statistics just published
show that $40 passengers were killed
and 2,146 injured during the fiscal
year 1889, out of total Of 472, 16l, 346
carried, or one in every 1,424, 1873 only.
The annual report Of the Chesa-
peake and Ohio Railway Company
for the fiscal year ended June 30, 1890,
just issued, shows the company oper-
ates 800 miles of main line and 36
miles of branches. The gross earn
ings were S7,161, 900 and the net earn
ings 81, 100000. Included in the oper-
ating expenses are large sums for new
rails and new bridges. Two hundred
and fifteen miles OF line from Char
lottesville to Big Sandy river, over
which the heaviest traffic goes, are
now laid with new 75-pound steel
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