1908 - VA. & S.W. WILL BUY TWO ROADS

[NW Mailing List]

Roanoke Times - April 30, 1908

VA. & S.W. WILL BUY TWO ROADS

Henry K. McHarg's Railway to Acquire Seventy Miles of New Lines

WILL MAKE IT A RIVAL OF OTHER GREAT ROADS

Stockholders Authorize Purchase of Holston River and the Black Mountain and 
Provice $7,000,000 to Be Applied to Paying for Purchases - Will Penetrate 
Coal Fields

   Bristol, Tenn., April 29 - The stockholders of the Virginia and 
Southwestern railway, of which Henry K. McHarg, of New York, is president, 
in a meeting held at the general offices of the company, in Bristol today, 
authorized the purchase of the Holston River railroad, a new road forty 
miles in length and also the Black Mountain railway, an new road thirty 
miles in length extending from Appalachia, Va., into the coal fields of Lee 
county, Virginia.
   The Holston River road extends from Moccasin Gap on the mail line to 
Persia, Tenn., where it connects with the Southern railway, thus giving the 
Virgina and Southwestern a direct outlet to profitable southern territory 
and making it a rival of the great roads penetrating the Virginia coal fields.
   The stockholders also authorized a new bond issue of $7,000,000 to be 
applied to paying for the new purchases and to relaying certain of the old 
bonds of the company.
   This action of the stockholders will be ratified by the board of 
directors at a meeting to be held in New York next week.

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- Ron Davis, Roger Link