The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1892-02-28

Western Railroad Company for a period
of 900 years.
The deal was made quietly, without
rifle and to the satisfaction of all
concerned. 1t has been rumored for
several days that such deal was in
progress, but tho officials on either
side were silent, and not until the lease
was signed yesterday was any nforma.
tion given out.
The meeting began yesterday morn
ing at 10 o'clock at the office of the
Roanoke and Southern, and continued
until after IL o'clock.
The following directors of the Roa-
noke and Southern were present at the
meeting: r. A. Buckner, Jas. II.
EIsIngleby, II. S; Trout, e. II. Stewart, S.
w. Jamison, j. Ii. Spencer, p. Z. Wat
son, l.. Aunspaugh, +. w. Hanes, r. ].
Reynolds and j. o. Cocn. President
Fries and Auditor Langford were also
present, together with General Mana
ger Maslin and officials of the Norfolk
and Western.
The latter road was represented by
Attorneys Kecne and Watts, and the Vir-
GINA and n ,rth Carolina Construction
Company and the Roanoke and Southern
by their directors
Tho first named party dealing as Il
party ofstbe first part was tho principal
owner OF the road, at least its interest
represented the stock which was in de.
lnand and which had to be acquired be.
fore deal could be consummated.
Tho lease agrees 10 lot to the Norfolk
and Western people all the road bed,
equipments, rolling stock and appur-
tcnanccs of the road between Roanoke
and Winston for the period above speci.
fled. The present bonds were retired
and give place to new issue bearing
percent interest. which are TO be issued
by the Norfolk and Western.
Tho road is at present stocked at
$4,000 Il mile, and the new issue will
represent tho Same amount which for
l22M miles is 81, $4,000.
The Norfolk and Western proposes to
equip the road in first class style, and
run regular passenger trims at once.
The lease will have to be ratified by the
stockholders, and to this ond a meeting
has boon called for the 10th of next
month. 1t is understood that the stock
holders will sanction tho deal, and with
this understanding the Norfolk and
Western takes Immediate control
The present board OF directors will
continue in Office for awhile, and all
ton with the Norfolk and Western main
line will be made in short time
Tho lease of this road gives the Nor
folk and Western an outlet into the
Carolinas and the South. which could
not have been secured by any other
line. Tho Maryland and Washington
division, which was purchased about
two years ago, will now be made to con.
meet with this road, forming Il compe-
ting line with tho Richmond and Dan.
Vile system, and at the same time hold
ing its own as master of the Western
traffic.
TIMES reporter had conversations
with large number of business mon
yesterday regarding the matter, and it
was the general opinion that the deal
was great era for the prosperity of the
road.
Some said that thoy regre tied that
the Norfork and Western had secured
control of this road from the fact that it
would take away one of the principal
objects for the Baltimore and Ohio to
come into Roanoke.
But majority Of the business mon
seem to recognize i'll tho Norfolk and
Western the greatest patron Roanoke
ever had, and are satisfied that under
its splendi1 manage nent tho Roanoke
and Southern will be finely equipped
and accommodating road
Col. Z. I'll. Fries and his party left for
North Carolina " sterday afternoon at
o'clock in special car. The details of
tho deal have not yet been fully made
public from the fact that the stock
holders meeting, which takes place
next month, has 10 take the matter up
and ratisfy the proceedings before it
becomes absolutely binding on either
party.
Tho leasing of this new road by the
Norfolk and Western contains several
favorable features for Roanoke, not the
least Of which is the fact that the equip.
ment of tho road will DO thrown into
the Roanoke Machine " orks
A. Z. Hippy, superintendent OF tho
Western division of the Norfolk and
Western, will take an inspecting tour
over the new road Tuesday. After he
returns it will be determined when
through trains will be placed on that
division.
President Kimhall of the Norfolk and
Western, will issue the following notice
Immediately, regarding tho assumption
and control of the LyDchburg and Dur
ham and the Roanoke and Southern,
by the Norfolk and Western:
NORFOLK AND WESTERN R. ROO,
OFFICE OF THE PRESIDENT,
PHILADELPHIA, March !, '9l.
On and after this date the Norfolk
and Western Railroad Company will as
sumo the management and operation of
the Lynchburg and Durham and the
Roanoke and Southern railroads. The
Lynchburg and Durham will be oper-
ated as the Durham Division, and the
Roanoke and Southern as the Salem.
Winston Division.
Tho jurisdiction OF the heads of de-