| From the Memphis Appeal |
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| September 22, 1863 |
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| The Virginia & Tennessee Railroad |
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| The financial condition of the
Virginia & Tennessee railroad, under the able management of its
administrative officers, is a matter for congratulation to the
stockholders. This city has guaranteed a half million of its stock, and
up to this year was annually obliged to raise by taxation thirty
thousand dollars to meet the interest due on that sum with a prospect of
having to do the same for years ahead. |
| The road lately relieved the
corporation of the onerous debt by declaring its first dividend of 6 per
cent. per annum, and it has now with the consent of the Legislature paid
to the Commonwealth a debt of one million of dollars which has been
received by the second auditor, under a joint resolution passed by
Assembly. This exhibits the financial management of the road in a bright
aspect, and we note the fact that the stock has risen in the past
eighteen months from fifteen dollars to one hundred and thirty-five
dollars per share. |
| Lynchburg Republican |
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