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**EXHIBIT 31.1**

CERTIFICATIONS

I, Michael E. Schultz, certify that:

|1) | I have reviewed this quarterly report on Form 10-Q of
        Canal Capital Corporation;                                                                                                                                                                                                                                                                           
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|2) | Based on my knowledge, this report does not contain
        any untrue statement of a material fact or omit to state a material fact
        necessary to make the statements made, in light of the circumstances under
        which such statements were made, not misleading with respect to the period
        covered by this report;                         
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|3) | Based on my knowledge, the financial statements, and
        other financial information included in this report, fairly present in
        all material respects the financial condition, results of operations and
        cash flows of the registrant as of, and for, the periods presented in
        this report;                                            
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|4) | The Registrants other certifying officer and I
        are responsible for establishing and maintaining disclosure controls and
        procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e))and
        internal control over financial reporting (as defined in Exchange Act
        Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

| | a) | Designed such disclosure controls and procedures, or
        caused such disclosure controls and procedures to be designed under our
        supervision, to ensure that material information relating to the registrant,
        including its consolidated subsidiaries, is made known to us by others
        within those entities, particularly during the period in which this report
        is being prepared;
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| | b) | Designed such internal control over financial reporting,
        or caused such internal control over financial reporting to be designed
        under our supervision, to provide reasonable assurance regarding the reliability
        of financial reporting and the preparation of financial statements for
        external purposes in accordance with generally accepted accounting principles;               

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| | c) | Evaluated the effectiveness of the registrants
        disclosure controls and procedures and presented in this report our conclusions
        about the effectiveness of the disclosure controls and procedures, as
        of the end of the period covered by this report based on such evaluation;                                                                                                                    
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| | d) | Disclosed in this report any change in the registrants
        internal control over financial reporting that occurred during the registrants
        most recent fiscal quarter (the registrants fourth fiscal quarter
        in the case of an annual report) that has materially affected, or is reasonably
        likely to materially affect, the registrants internal control over
        financial reporting;

|5) | The registrants other certifying officer
        and I have disclosed, based on our most recent evaluation of internal
        control over financial reporting, to the registrants auditors and
        the audit committee of registrants board of directors (or persons
        performing the equivalent functions):
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|   | a)                                                                                                                                                                                                                                                                                                                         
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|   | b)                                                                                                                                                                                                                                                                                                                         

Dated: October 30, 2012

/S/ Michael E. Schultz 
  Michael E. Schultz
  Chief Executive Officer
  (Principal Executive Officer)

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