The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1891-04-23


sight into the facts Of the situation. IL
he has. he will have discovered that
there is deep laid scheme to fhwart
his reasonable ambition for re-noinlna'
ton. and that his own appoiniees Will
be used as instruments to effect it. II
they fail, it will be because their plans
will have been uncovered and their plots
exposed to the condemnation OF public /
sentiment
If the President shall take in and |
profit by the lessons he may learn from
his journey, he will have a clearer
conception of the situation of affairs in
the South than he had when he started
across the continent.
Chesapeake and OHIO Development
Stockholders Meeting
At meeting OF the stockholders OF
the Chesa, cake and Ohio Development
Company at Clifton Forge on the 14th,
Mr.. AXtell, the President OF the Com
pany. presented very satisfactory re-
port of the financial condition of the
Company.
OF tine 100000 in stock sold by the
Agents, Eagle, August 4 Donovan, ev-
cry cent has been collected, except $4,000,
and this has not been paid because the
preliminary certificate issued fol the
shares has been lost. A sixty day ads
yertisement is necessary before another
certificate can be legally issued, after
which the $50 90 will be paid. and not
single dollar will then be delinquent on
the stock of the Development Company.
The Chesapeake and Ohio Railway Com
pany received from the Development
Company $25O,OOO, which was to be ex-
pended on the ground in the building OF
shops, hotel, depot, and other improve
ments. 1t was contemplated that the
new hotel would cost $4,000, but the
railway officials now see that it will res
anire fully 100000 to build such house
as they wish to throw open to the pub
lie. An elegant depot will be built, cost
| Ing $4,000. The amount already ex>
pended on the shops is SEQ, 900, and no
doubt a very much larger sum will be
required to put such shops at Chiffon
Forge rs the pressing necessities OF the
Chesapeake and Ohio Railway demand.
1t will be seen from the above state
ment submitted by Mr.. Axtsll. that al
though the railway company was at this
time not obligated to lay out more than
the $3.50, OG0, yet SO far their improve
ments have cost $295, 600, and he thought
| if would be necessary for the company
TO expend q half million dollars before
the shops would reach the capacity con
templated.
There were some $50 lots remaining
and owned by the Development Com
pany after the distribution OF lots to
the stockholders last June. Of those,
about 800 were sold last fall for some
Se05, 900, or nearly 800 each ON an aver,
age. There remains 857 lots yet to be
sold and assuming them to be worth GA
an average the price for which the
Others sold the amount would be $s54,-
900 This should make the stock worth
1918 per share ON the original capitailza-
ton OF $500, 600, or $4,000 per share
| Wlen the Cbpltul WIN hf~F HHFfs AN'oSNN
to 5000 600 The stock is now being fe
ceived by the company at $l250o per
share in payment of notes on lots puf-
chased at West Clifton Forge. 1t is sur
missed that 100000 will be required to
nav these notes, thus reducing the out
standing stock that amount.
Mr.. Axtel spoke confidently OF the
great and promising future OF Clifton
Forge. He thought that in few years
it would lead ali other Virginia towns
in growth and prosperity, aiia that 1t
would be the policy of the Chesapeake
and Ohio Railway Company to do all in
its power to build up there a great in
dustral city. Mr.. Axteli Is man in
whom every one has the greatest confl>
dence. He speaks guardedly and will
honestly carry out any promises he may
make so far as it lay in his power, cons
sequently his remarks were received
with great enthusiasm by the large num-
Der of stockholders present.
There were two new directors added
to the present board, and Messrs, Geo.
K. Anderson and John Donovan, both
of Clifton Forge, were selected as the
new members.
This brief reference to the meeting oil
the stockholders of the Chesapeake and
Ohio Development Company and the
condition of it's business is compfehen
siye in it's meaning and gratifying to the
public. 1t means that Clifton Forge,
+I,.t ant i,o III CT riot ic 10 h va
the cordial and earnest assistance of the
Chesapeake and Ohio Railway Company
in m aking a great industrial centre at
that place.
1t augurs auspiciously for every inter-
est related to the development of the
great natural resources OF that locality,
that so safe and conservative and prom>
inent and influential gentleman as De-
eatur Axtell is at the head of the Ches-
apaake and Ohio Development Com
ipany, and that he was able to speak.
from his official relations to the Chesa>
peake and Ohio Railway Company. Of
the liberal and progressive purposes and
policy of that great corporation.
supplementary to the statements Of
Mr.. Axtell, president NJ. L. Ingalls, of
tie G. & O. railway, in an interview with
Mr. John A. Quinn, the master mechanic
of the road at Clifton Forge, is reported
as follows, as published in the Reeielo of
last week:
Mr.. ingalls, stated that it was the pnr-
pose of the company to greatly enlarge
the machine shops ALREADY completed,
as also to add very extensively to the
blacksmith shops now erected, those now
put up being but beginning Of what is
intended. The additions to the black
smith shop contt inplated are to spread
over space measuring over 90 by 800
feet. The company will also arrange to
erect and equip machine shops for the
manufacture of locomotives, engines and
boilers, and also to repair the same; be-
sides these, shops for the building of
freight cars and passenger coaches are
1 to he established, and all machinery
needful and requisite for this purpose.
from the beginning to the final finish of
i the construction of the rolling stock. is
to be put up and set in motion, including
IL. cl,o I,o%h For.