Daily Richmond Whig. [volume] (Richmond, Va.) 1828-1831, 1831-01-21
REPORT OF THE % AUDITOR,
In relation to investments made by the
State in Public Works, and in Improve
mcpts made by private Companies.

The ID Auditor transmitted In the House at dele
,aics he i0;h INST two statements called for by
resolu iou OF the House the 27th ui IN relation
% investments made by :mc State IN pnbic works,
nd in improvements made by private companies
The LIST, marked A, is n tabular statement NJ in
vCstmcns, made Nv the - ate IN pubic improvement
unconnecicd With private companies, showing tn" |
nnun profits from each improvement, since the es
enlistment ofthc prcsen, tariff of tolls-whch ex /
hibts the follow Ing facts: =
I. That the average annual gross amount Of tolls |
and reuts received from the lower James river
canal, within the last five years, is equal TO 6
per cent Oh the cot "f the improvement,
(S5e,8i5 10, on s6l0,i43 -.
That tho avcrag" annual nett profits. for the same
period, tSi2 ,209 I2,l are equal TO 62 per cent.
On the cost of the Improvement.
That even alter charging his Improvement with
the annual dividend ct $4,000, payable to the
stockholders of the old JAMES River Company,
which is a general charge upon all the improve
nen's the clear sum paid into the Treasury,
(S25 1913 i2l towards the discharge of interest
~ loans, Is equal TO j per cent OH the cost of
the Improvement.
Tina; for the yea, $50, the gross amount Of tolls
is equal to per cent. on he cost of the
work: the nett amount of tolls to 3-4 yer
cent. and the sum paid into Tie Treasury after
deducting the dividends, to B per cent
And that the trd6e Of The rirer has increased near
iy 50 per in ire h,s. fire gears, tho tolls
and other profi's in 1926, during par; Of which
wear there higher tari() being 81 GJ1
81. and IN 1880, S623l7 90.
.. THAI the annual average gross tolls at the Bluo
Ridge canal, fnr tho years 1925 and 1920, were
equal 10 "h'u, i-i'hs of per cent. Oh Tho Cost
OF the Improvement, and the nett amount Of tolls.
10 about 18th Of Per cent
3. That the average annual gross tolls received on
the Ksnawha turnpike, IN tho years 1927, 1925,
and 1899, equal - ? I-2 per cent. on the
cost of the improvement, aud the nC,t tolls IL
= per cent.
/ That 'h- gross amount of tbs received on the
hauawha river, IN the year 1920, IS eqrn to !
- per cent on the cost of the improvement,
a-I the nett tolls to . ! per
he avrra C annual gross amount OF tolls and
,, ,h,,. - nod IN The four improvements
SOL SCI ''"'t""' (SSl3,3 a. on SH[ E, cos cost
provemcnts, sel " as,. nett profits of those in
ever description property charg8G6tc' 81 Mr.,
are equal TO 3 4-5ths per crut. on their cost,
(S48,4II so, on 81 go sol 81.
And that after de.,uctiug the annual dividends
guaranteed to the stockholders OF the old James
River Company, the sum paid into the rreas,i-
ry, towards the discharge of the interest OIL
loans, obtained to make the improvements is
equal to , I-2 per cent. on the cost, tSGI,6II
90, on Si.276,50I 50.
And, also, that The actual receipts from the lower
improvement of James river. for 1890 together
with the supposed receipts for the same nernd
from the western improvements estimated at no
more than those for 1929. which il is believed
they VIII exceed, will leave clear sum for the
payment OF Interest loans, exceed mr. : pcr
cent on the cost OF al the improvements.
.. ANA that the clear derived from the two
James river improvements united, v'z the lower
canal and Blue Ridge canal after being clarr-'
cd with the dividends OF Si6,&O0. will be equal
10 nearly l-3 per cent. on their cost, being 80
much contributed By them to thc payment of
interest on loans.
TIC p, marked Z, is another Tabular State. /
ncnt Of Investments, Tade by the State, III IN
IFofements made by private companies, with the |,
annual dividends received tbeTcou-the substance Of
which is contained IN the following Recapilulltion
and Report:
EECAPITULATION.
Total capita of all The pirate companies in which
the State IS interested, S2,G65, old 90
Total capital in works completed, or abandoned .
and gwen up e.i2O,99I 26
VoLa: capital in works in progress, 5Ii,6jO 90
hverage gross amount of tolls on completed works,
N the lost five Years reported, 69,Il3 IS
Total alt"u"t subscribed TO private com7an!cs by /
III" Commonwealth, 533,l24 II
Total amount in works completed, or abandon.
cd. A57,5IG II
Total am)unt in works in progress, i25,Go3 90
Average amount Of dividends received by the
Stale from five turnpike companies, $500 80
From he above statement the following facts appears
. That The average annual Q, oss amount If toH-,
received within the last five years al the i'm. |,
provcmcnis in which the State is Interested de-
Quoting those not completed, Is equal to about
j Is per cent. on The amount Of the capital
stock, (S30II3 jj on S2,120 99I 26)
That no dividends have been received By the
State from navigation companies.
That dividends have been received By tho State
from The five following turnpike companies to wit:
The Lynchburg and Salem Turnpike Company,
the Stanton and James River Turnpike Compa-
n.y. the Ashby's Gap Turnpike Company, The Lit
tic River Turnpike Company and the Swift Run c
Gap Turnpike Company. The dividends received
from the two last mentioned companies .-sso on
stock subscribed for previous -.sss-cfcuion Of
the Fund for Internal Imprc scfncnt.
b. hat The average annual amour; Of these diyi-
drnds. compared with the whole amount OF the
Statca subscription to Tuynpjhe Companies, is c.
qnal To about 10 per cent. (S3, 500 50 on S28i,
G2jJ and compared wuh the whole amount of
Stnies subscriptions TO Privnts companies NJ NIL de.
scyiptons (dedNciiuI the improvements not compile
tcdO about 5-GIi's of per cent. (S3,369 90 on
Gi57.jiG ~
NOTES
IJe River and Blue Ridge Tump,t. IN progress
Wellsburgand Washington Turnpike: Suspended Tor want
Of funds.
Lessomrs turnpike This company has declared frequent
tIyIdends among the private s'DC ahOlaefs
iiiue River Turnpike The subsrupiion rl the STATE n
ms company, was made previously tie Creation Of the
Fund Tor lntemsl improvement "
FaIiaS Turnpike The gate keeper 81 this urnpike ~
to,1es all the tolls irr lbs compensation
SNN Run Cap Trrtpkc. The STATE subscribed II ~,
~ lh company before the Fund C, Ie,,,I