The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1892-05-25

The Nor folk and Western railroad,
whose general offices are in this city,
and whose interests are so closely identi-
fed with those of Roanoke, has. during
the past year, made many improvements
and extensions to its already fine sys-
tenn of road
AT the beginning OF last year the COM
pany had in operation 1000 miles of
railroad and thirty-one miles of second
track. At the close Of last year the
company owned and operated 1,120 miles
Of railroad and forty-two miles of sid
ings. The company leased and began
operating on the first of last March, the
Lynchburg and Durham railroad, which
extends from Lynchburg to Durham, n.
c., a distance of lis miles, and the Roa-
noke and Southern from Roanoke to
Winston-Salem, 12l miles.
The Lynchburg and Durham railroad,
as constructed, is lis miles in length,
and extends from Durham, n. c., to a
point on the Richmond and Danville
railroad, about three miles south of
Lynchburg. 1t has been found imprac-
ticable to interchange traffic with that
line except through the construction of
q direct connection. The company owns
a branch or belt limo extending partly
| around the city of Lynchburg, its pres
ent terminus being about one and
| quarter miles from the present terminus
Of the Lynchburg and Durham railroad.
| Under the arrangements, as effected,
the company agrees to complete this
| belt line TO Il connection with the Lynch
| burg and Durham railroad, and to oper
alto that property under lease from
March 1, 1892, for period OF one year,
| during which time the company has tho
| option to continue the lease perma-
ncntly conditioned upon the payment by
the company of an annual minimum
rental OF 500, 900, or to purchase 1l,G30
| shares CT the capital stock (out of 4
total issue Of lS.7G3 shares) aud its en-
! tire issue of Sa,0l2. 600 5 per cent
bonds, for 81, 433, s3S. Under the terms
Of the temporary lease, the company
agrees to operate the road for Is per
cent. of the gross earnings, exclusive Of
taxes, which are to be paid out Of the
35 per cent to be paid to the Lynchburg
and Durham Railroad Company.
The Roanoke and Southern railway
extends from Roanoke, Va, to Winston
Salem, n. c.. a distance of 1918 miles
a portion of this line has been in opera
ton for about year, tho remaining or
northern portion having been but re-
Gently completed to Il connection with
the line. Under the arrangement, as
eff, cted, the company acquires the own
ership OF 1878 shar, $ of capital stock
out of a total issue of 80, 96i shares, and
undertakes to operate tho road under
lease, tho company paying over any
| balance that remains from gross earn
ings after paying operating expenses
and tlxes, interest on bonded debt, and
| such improvements and additions as
may be necessary, the company guaran-
teeing the principal and interest of an
issue of S2,04l, 600 per cent. mortgage
bono IS: the former owners of the prop.
erty depositing with the company an
amount estimated as being sufficient to
put the road in proper working condi-
ton, and deposiLing with the trustee of
the mortgage an amount of money sut
| ficient to pay the interest on the bonds
| for a period of one year.
Through the control and operation of
these two properties the company now
| has direct connections with all tho i'm
portant railway lines in North and
South Carolina and the South Atlantic
seaboard, and it is confidently believed
| that this will result in very consider
able interchange of traffic between
those States and northern and north
western points reached by this system,
and that the advantages derived will
more than compensate for the liability
| assumed.
The company is now building the
Ohio extension from Ekhorn to Iron.
ton, which. when completed, will open
a country that is naturally tributary to
Roanoke, that has untold resources in
timber, iron and coal, the extent of
which. owing to the inacceSsibility of
thi Sregion has heretofore attracted but
little attention from capitalists, but
now, when opened, will prove an mex
haustible and almost invaluable feeder
TO tho commerce of this city.
Tho length of this Ohio Extension
will be one hundred and ninety
miles. All the work was put under
contract in March of last year, and such
progress has been made that it is safe
TO say that the rails will be connected
throughout the entire length SO as to
give continuous completed road bed
by September l, next. Tho track has
been completed and trains are running
regularly on the Ohio end of the line as
far as Dudlow, q distance of forty.six
miles. and on the Elkhorn end to WEIGH,
which is fifteen miles from L khorn
The entire road from Elkhorn to kenuvo
is being constructed in the most perma.
nent and substantial manner, with a
view to the expiditious handling of tho
immense freight, which it is certa II
will be forthcoming when the road is
thrown open for traffic in tho fall
Except for a short distance in tho
coal region, near Elkhorn. where the
grade descends toward the Ohio river at
the rate of sixty-eight feet per mile. the
maximum grade is fifty.two and five
! tnptbo apd tha, o,1,, :, V,,,ot 80