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 and subsidiaries;

2)    Based on my knowledge, this quarterly report does not contain any untrue
      statement of a material fact or omit to state a material fact necessary in
      order to make the statements made, in light if the circumstances under
      which such statements were made, not misleading with respect to the period
      covered by this quarterly report; and

3)    Based on my knowledge, the financial statements, and other financial
      information included in this quarterly report, fairly present in all
      material respects the financial condition, results of operation and cash
      flows of the registrant as of, and for, the periods presented in this
      quarterly report.

4)    The Registrant's other certifying officers and I are responsible for
      establishing and maintaining disclosure controls (as defined in Exchange
      Act Rules 13a-14 and 15d-14) for the registrant and we have:

      a)    designed such disclosure controls and procedures 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
            quarterly report is being prepared;

      b)    evaluated the effectiveness of the registrant's disclosure controls
            and procedures as of a date within 90 days prior to the filing date
            of this quarterly report (the "Evaluation Date"); and

      c)    presented in this quarterly report our conclusions about the
            effectiveness of the disclosure controls and procedures based on our
            evaluation as of the Evaluation Date;

5)    The registrant's other certifying officers and I have disclosed, based on
      our most recent evaluation, to the registrant's auditors and the audit
      committee of registrant's board of directors (or persons performing the
      equivalent function):

      a)    all significant deficiencies in the design or operation of internal
            controls which could adversely affect the registrant's ability to
            record, process, summarize and report financial data and have
            identified for the registrant's auditors any material weaknesses in
            internal controls; and


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      b)    any fraud, whether or not material, that involves management or
            other employees who have a significant role in the registrant's
            internal controls; and

6)    The registrant's other certifying officers and I have indicated in this
      annual report whether or not there were significant changes in internal
      controls or in other factors that could significantly affect internal
      controls subsequent to the date of our most recent evaluation, including
      any corrective actions with regard to significant deficiencies and
      material weaknesses.

Dated: September 15, 2003


                                                  /S/ Michael E. Schultz
                                                  ------------------------------
                                                  Chief Executive Officer


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