Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1892-02-24
IMPROVE ITS LINES.
a o7o,ooo,o 900 MORTGAGE MADE ey
THE c. d O. COMPANY.


The stockholders Of the Chesapeake and
Ohio Railway Company met IN this city at
noon yesterday and perfected arrange
ments for greatly increasing its already
valuable property by authorizing the Is
suance of e7o, o,o00.o 900 in new bonds ana
stock.
The session was held in the Offices Of the
company, corner Eighth and Main streets,
President Ingalls, in the chair. There were
present: Msssrs, william p. Anderson. OF
Cincinnati; G. ID. Dickie, OF New YORK ~
Il. 1. Wickham, John P. Branch, and
Others, of this city. Secretary Wexford,
after examination, announced that all the
first and second preferred stock (l30.oO0
and 120. 900 shares, respectively. ana 4os.-
$40 of the total OF 100000 shares OF COM
mon stock, were represented.
OBJECT OF THE MEETING.
The meeting was formal one for official
consideration and action upon certain
plans which have been pending for the
past two months. Among. these was the
acceptance or rejection OF an act OF the
Legislature of Virginia, emitting "an act
to authorize the issue OF additional BONDS
and stock by the Chesapeake and OHIO
Railway Company and defining the pur-
poses to which they may be applied" ap-
proved December "a, 1891, and the accept:
ance or rejection of certain other act OF
tho Legislature of Virginia, emitting an
act TO authorize the Chesapeake and OHIO
Railway Company to construct or acquire
branches or extensions and to issue ITS
mortgage bonds thereon, or to hold stock
in and guarantee the bonds OF corpora.
tions owning such branches or extensions"
approved December %. 1891.
$4,000. 900 MORTGAGE.
On motion these were accepted, and the
President and Board of Directors author
lied to create mortgage upon the pro-
perty to the extent of $70,000,0 900, and TO
secure bonds to be issued. They were also
authorized TO increase the capital stock OF
the company to such an extent as may be-
come necessary. =,
This was done in order to provide for the
acquisition and construction OF branch
lines, and for conducting improvements,
double-tracking, and the retirement OF the
preferred stock.
President ingalls, informed the stock:
holders that the company had acquired
control of tho Ohio and Big Sandy and the
Elizabethtown. Lexington and Big Saacy
roads.
When the meeting adjourned a session
of the Board of Directors was held, and
the mortgage was signed and various coll
tracts ratified.
A Chat with President Ingalls,
President Ingalls, was seen by DISPATCH
man after the meeting and querled as 10
his long-talked-of hotel-scheme bill and
several other topics. In reply TO the frst
question by the reporter Mr.. ingaiis saia
"Dont you think your people here In
Richmond ought to build hotel without
calling ON outsiders"
Yes; but it is understood that you
were in measure engineering the
scheme" said the news-gatherer.
"Well," said the Chesapeake and Ohio's
president, Il should be very glafto see a
house here that your visitors would be
proud of, as well as your citizens. Of
course, l don't mean by that that you
have not hotels that are well conducted.
but you ought to have fine house up
town somewhere that you coulu reaiiy
point to with pride" =,
Have YOU spoken to any of Richmond's
public-spirited men?" asked the DISPATCH
representative. ..
1No,n was tho response. II have not
had time. think it would have been no
bad idea for them to have placed the
money that they have spent in erecting
their magnificent club-houses IN first-
class hotel"
IMPROVEMENTS TO BE MADE IN VIRGINIA.
Then, drifting into the results of the
lmee ing, the news-gatherer asked Mr. In
| gals what would be done with the SIo,-
| on, 900 to be issued in new bonds OF the
Chesapeake and Ohio Company. :
| taking up the old bonds" said the presi
! dent. " and nearly all the rest will be spent
right here in Virginia. The line from
| clifton Forge to Hinton, distance of Al
| miles. will be double-tracked. A miliior
| dollars will be used at Newport News II
| constructing yards. piers, tracks, and @
station. Lynchburg will get good slice
| in the way of extra tracking, o handsome
| station, &c. We have also just made
contract for forty-six new locomotives
| thirty-five of which will be built by th'
| Richmond Locomotive and Machine Works
500 coal-cars will be made by the En-
| sign Company, at Huntington. w. Va, ane
| twenty-slx xpassenger-coaches by Barney q
Smith, Dayton, o."
THAT RICHMOND DEPOT.
"aow about the depot for Richmond
that 40 much has been said about? Ar,
| YOU going to build it out of this $40,
| 0OO. .O00?n interrosated the scribe.
"We will come to that last" said Mr.
ingalls,. THE Chesapeake and Ohio ex
pect to spend great deal more money
here than you have any idea; but it takes
a great deal OF time to get all preliminary
matters in proper shape. Now. l hope Mr
Axtell will so arrange matters that he car
90 before your city authorities some time
| in July for the privileges that will be ne.
cessary. II we then haye no trouble, OF
course We can 90 right ahead with oul
plans"