Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1890-12-05
THE VALLEY RAILROAD.

THE STOCKHOLDERS AND REPORT OF
THE Observation-Disclosures SUB
| SCRlPTION.
| &C., &C., &C,
On Wednesday morning, the annual meet
ing of the stockholders of the Valley Ry
Co., took place at the Office of J. & J. L.
Bumgardner On New Street. The only
representatives from Baltimore present
were General Manager j. t. Odell, repre-
senting the B. & .. Ry., and Henry Duvall
representing the city of Baltimore. The
other representatives present at the meet
ing were Blackford Harris from Rock
bridge, r. W. Burke and w. P. Tams from
Staunton, and J. E. A. Gibbs of Rock
bridge. The number of shares Of stock re-
ported was Fl 200, which made a quorum
r. w. Burke was chosen President, and
James Bumgardner Secretary of the meet
ing.
ANNUAL REPORT OF THE PRESIDENT.
The report Of President c. +. Mayer is
for the year ending September Both, 1890:
The report of the gross earnings shows
that the receipts from traffic for the year
were 1882, 0S0.27, an increase Of $15,677.79
over 1885,. The receipts from other sources
were $2,6S5-39, decrease of 81 ,453 OF over
1889. The total increase of receipts over
1889 was $11 ,224.T2.
The expenses were Sill, 400.O2, an IN
crease of So, S34.9S over the expenses of
1889.
The net earning for the year were $23,-
365.64, a decrease of $11 ,610.26 on the net
earnings of 1889.
The number of miles run by passenger
trains showed an increase of 56,907 miles
over 1889.
The freight received from the B. & o.
road at Harrisonburg shows an increase of
1854 tons over 1899. The amount delivered
to that road at Harrisonburg shows an
increase of II 1882 tons.
The freight delivered to the Chesapeake
q Ohio at Staunton was 7,191 tons more
than in 1889. and the freight received from
it was 1929 tons more.
The freight delivered to the Richmond &
Alleghany road at Lexington was 1904 tons
less than in 1889, and the freight received
from it was 1924 tons less.
Five hundred tons Of new steel rails have
been laid on the Valley road and many
bridges and trestles rebuilt and other bet
terments made, including platforms at Mt.
Sidney, Verona, Lexington and Staunton.
To those betterments is chiefly due the in
creased expenses of the year.
The bonded debt of the company is ST.
10000, of which $3.50, GOO is in the Treasu-
~ of the company and $4,000 outstand-
ing.
ELECTION OF OFFICERS.
The following officers were elected fol- the
ensuing year: President, G. f. Mayer;
Secretary and Treasurer, w. J. Ijams; Di-
rectors-J. J. Allen of Botetourt, w. A.
Anderson of Rockbridge, r. W. Burke of
Staunton, Henry Duvall of Baltimore, Os-
nun Latrobe of Baltimore, Decatur II.
Miller of Baltimore, and Chas. T. Mayer
of Baltimore.
BOTETOURT'S SUBSCRIPTION.
Mr.. Odell said he had communicated to
the President the proposition Of Botetourt
of which he had been Informed at the meet
ing (called but not held, in Staunton, some
days ago for lack OF a quorum) at which
MI. BENZ. Haden, Commonwealth S Attor-
ney for the county in question appeared. MI.
o. said it was thought that the proposition
should be considered by the counsel of the
B. & 0. and it had been submitted to him.
FTihic from, Hotofn,,rt &c oil
one and is to the effect that the Valley
Railroad Company might build it's road to
Lexington and stop there, which was not in
accordance with the terms of Botetourt S
subscription, provided Botetourt be reliev-
ed from the payment of the $4,000 still
due and unpaid Oh her 100000 subscrip-
ton to the road. The county is willing to
let the 100000 it has already paid of it's
subscription go. 1t had been understood
that this proposition Of BotetOurt was long
ago accepted by stockholders meeting
but MI. Haden was informed on his visit
here that while that had been done, the &C
ceDtance had not been made a matter of
record as far as is known.
SALE OF VALLEY RAILWAY PROPERTY
IN STANTON.
Regarding the recent sale of the Old Fair
Ground by the Valley Ry. Co. to the Staun-
ton Development Co. (234 acres for
5,s9250, OF about $3.50 an acre., MI Odell
said it was alway regarded as best for a
railroad not to sell any of it's property, but
as the road had no use for this property
and its sale might help the progress OF
Staunton, it had been disposed of. There
was other property of the road, lying be-
tween its tracks and the Asylum, which
was not needed and for which the company
had received several offers from Staunton
men. If there was any reason why it should
not be sold, known by any present in the
meeting, he should like to heal it.
Capt. Bumgardner said that some time
ago all this matter Of sale of the company S
property was left by. a resolution of the
stockholders to the discretion of the Presi-
dent of the company.
Mr.. Odell added that Mr. Miller President
Of the Stanton Development Co., had told
him that so many industries would be
brought by his company to Staunton that
it would have to secure property not only
on the Valley line but along the c. & 0.
line.
The meeting then adjourned.
II Move for City Hospital.
The Kings Daughters of Staunton have
resolved to make an effort to build hospi-
tai here. The first step they propose to