The times. [volume] (Richmond, Va.) 1890-1903, 1891-11-06
THE EIGHTH-STRRET TUNNEL.
A Letter Received Yesterday From Presl-
dent n. (. Reid.
HB SAYS HE Has SECURED THE MONEY
And Will Soon be I'm Richmond Prepared to
Purchase the Per Cent, Bonds and
to Go On with Construction.

On October 18th the time expired which
was provided in the charter Of the Richmond
and Chesapeake Railroad Company for the de-
posting with the City Treasurer Of the $780,
600 indemnity bond According to the pro-
visions Of the charter the franchise became
null and void at the expiration Of sixty days
after i,s approval for the reason that the in
demnity bond had not been deposited.
A representative Of The TINES called at the
Office of the railroad company at that time.
but the only information that was given out
was to the effect that Mr. n. J.. Reid the
president Of the company. was then on the
ocean on his return trip from England and
that on his arrival in New Ork. IN al proba-
bility the necessary funds would be forth
coming.
LITTER FROM REiD.
Since then several inquiries at the Office OK
the company bad no better result. Last even
ing. however. when q TINES reporter again
called at the Office OF the railroad company
he was show by Mr.. \. a. Atkinson. Jr.. the
resident attorney Of the road, letter from
President Reid which had just been received,
and which read as follows.
Dear Sir In response b your inquiries
concerning the Richmond and Chesapeake
railroad ! have the honor 20 reply.
u returned from my trip 20 London, Octo-
Der 9th last, and have not recovered from
the effects OF u very rough voyage.
Il had expected to close the contract with
London parties for our bonds prior 10 Octo-
Der 18th. and was only hindered from doing
80 by the sudden illness Of the solicitor OF the
trust company.
1.-The contract for the entire issue is entirely
sure to be executed and am expecting every
day to receive cable news that 1t has been
done.
TIE PROPOSITION.
II made a written proposition to the fnan-
cial parties which was definitely accepted as
made and as said all that was remaining to
be done was the attendance OF their solicitor
in preparing the contract. This will insure
the construction Of the railroad and tunnel at
the same time.
1T was exceedingly disappointing TO
me that ! was unable 10 keep my promise
10 the people O. your city TO the day, but tins
delay was beyond my power to prevent.
When ! next 60 to Richmond it will be with
the cash IN hand not only 10 put up the lOO.-
900 bond. but also for construction purposes.
Meanwhile have this comforting thought.
the delay is not in any manner injuring the
people Of Richmond, nor can they for mo
ment question our good faith towards them
inasmuch as we have made the repairs we
agreed 10 make az our Own expense and put
up lle c0,Vuu lotltlt oouu. L eApoCt friS
soon to be in condition to 60 on with the
work
THE COUNCIL.
Up TO the present time the City Council has
not taken any further action In the matter,
but there ID hardly any doubt that the fran
chise will be revived rs soon as President
Reid arrives in Richmond and shows that he
is ready 10 make the required deposit of
$1,000
So far the new management Of the company
have shown good faith tor their officers have
expended over $4,000 IN making the neces-
sary repairs 10 the tunnel. and they have also
deposited 90 900 in per cent city bonds as
forfeiture that they are willing 10 live up 20
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