Lexington gazette. [volume] (Lexington, Va.) 1871-1962, 1904-02-17
Cost of Public ImpI ovements of
Rockbridge

Cost of Public ImpI ovements o
Rockbridge
Mr.. EDITOR: | was requested b,
one of your correspondents to Civ
the cost of the Valley Railroad t,
the county of Rockbridge.
The county subscribed to Vale,
Railroad 1928, 900 in addition
to the amount subscribed by
the town of Lexington, which
was $50, 900. Of the 1925, 900 sub
scribed by the county, $4,000
was issued in county railroad
bonds, all of which was paid out
for work done. OF the 1920, OOC
issued, 1910, 800 has been refund
ed, and the amount of interest
paid 20 Jan.1, 1904, is 1864, 1T 80,
making a total paid by the county
to Jan. l, 1904, 1854, 477.5O, leav-
ing principal unpaid $149, 700,
bearing 4 per cent interest. Should
this be paid in the next ten years,
additional interest would amount
to 500, 940.Or, making the total
an cunt paid by the County of
Roekbridge to the railroad
fund $S14,ll7 80.
Lexin. ton issued $4,000 III
bonds for thu Valley Railroad. Up
to Jan. /, 1904, it has redeemed
$4,Io0 principal, and paid in in
terest $54, 1853. and has an
outstanding Indebtedness of $685.
900 on this amount. This amount
will probably be refunded July /,
1904, in per cent. bonds. and
If this Is retired in say 20 years,
it will pay in principal and inter
est, $36, 260 additional.
Cost of Valley Railroad to
county of Rockbridge $Sl4. 117.5C
Cost to town OF Lexington 95, SO 90
Total cost 5000, 1850
There are 17.65 miles of theVal-
ley Railroad in County of Rock
bridge and the Town of Lexington,
hence the cost per mile to the cit
zens of Rockbridge will be APP
Droximately $51, SIS per mile
As above shown the present liza
)ility of the county of ckbridge
IN account of the Valley railroad,
Ian. |, 1904 was $40, 700. As an
'ffset to this is the assumption by
5uena Vista of $13,500 and
mount to the credit of the sink
NJ fund of $31, 800 in Virginia
Centuries, bearing 3 per ct.interest
value about 500, 925.
Taking the sum of these offsets
rom $40, 700, and we have a bal =.
nee of $106. 275 railroad debt, to
-hich if we add the 500, 900 debt =.
Or the Courthouse, we have $780, =
IS az the total Indebtedness Of
ockbridge county.
| was asked the cost Of the canal i
Rockbridge' 1t is impossible a
, give this, as the Richmond d -
Railroad authorities at y
he time of the purchase of the Q
anal, removed from Rock bridge .
i the records Of the canal con- u
lining this Information. / will
rfy-say in this connection the last N
pairs to the canal cost the county u
PRINCIPAL AID interest $50, 400. ~
he county had the obligation of ST
e canal for this amount, when In
e canal was transferred to the Ill
ilrOad, and some patriotic citi-
MS of Rockbridge went before ht
e board of supervisors and had 'z'
EN- to make present of this st'
Iount to the railroad, for fear hi
~ would not build the branch do
IN Balcony Falls to Lexington, es'
twithstanding they were under
after obligations to do so. Rich thu
nd and Lynchburg were paid tn
,ir loans to repairs Of canal, dol til
for. dollar. This was the ext
son | fought so strenuously
have the railroad still. pay its
, on the branch from Buena Wis
to Balcony Falls as one of the Goi
then used, was you will l
n get the amount back in taxes. Wi,
at $50, 400 went TO swell the cas-
k-rot divided between Blaine, pa,
rsOns, Bartholomew, French wi
| others. ant
was asked the cost Of the plank by
d There is no source from of
ich | can get his Information, cid
"a good way sometimes to the
the cost Of thing is to figure Joe
loss that thing entails. List ed
ng to the siren voices of some bIt
our politicians Of that day, TO and
ID tie plank road cost Js tie sbo
Of about ~ miles of good Nc dog
I'm road in Rock bridge, the miss We
link between the Potomac and The
;tol. This is worth $4,000 the
mile, hence $84, 600 went up in be
or three years on this score. stan
he amount psid by Rockbridge wbe
the Valley Raiiroad would r,
, built 455 miles OF MaeaGam at T
IN the county. doio
W. w. McDowELL' ingt