Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1831-01-21
REpORT OF THE 2p AUDITOR,

h'd'S ~ p'i'o'S
The I'd Auditor transmitted To he House Of Dele !
gates lie 10:h INST Two statements called for by
resolution oil the House the 27ih u. in relation
to lnv"stmNn made 10y Sue State i'll public works,
and in Improvements made by private companies
The list, marked y, is tabular statement Of in |
vcstmcn,s made by the State public improvement
uncorncctcl with private. companies, showing the
nnriai profits from each Improvement, since the es
adjustment ofthe present tariff of tulis-whci cX
li0its t|!c following facts
/. That the average annual gross amount of tolls
and rents, received from 'he lower James river
canal, within the last FIVE years, IS equal 20
p"r cent. the of the Improvement,
(S528i5 10, on SGi0Il3 l2.
That the average annual nett profits. for the Same
period, (S42,2o9 l20 are equal To 6s per cent.
On the OF the Improvement
That even after charging this Improvement with
the annual dividend Of fsi6,S0O, payable to the
Stockholders of the old James River Company,
which is general charge upon al the improve
ricn's. the clear sum paid into the Treasury.
(S25.i23 IL towards the dischar roe of interest
an Ioans, is equal to per cent on the cost of
the Improvement.
That for tie year 1880, the gross amount of tolls
Is equal to- 9 3 i per cent on tie cost Of the
work: the nett amount of tolls In ;S-4 per
cent; and the sum paid into the Treasury after
deduct1n% the dividends, to per cent.
And that he tra1e IF The ricer has increased
" 40 per cent in the last fee years, the tolls
and other profits in 3lG, during par Of which
year there was higher tariil') being Si ,G37
81, and in 1880, SS2,3I7 65.
Ridge canal for the years 1925 and 1929, were
equal to about 3itls OF per cent. The
the Improvement and the nett amount oftols.
TO about 18th OF per cent
). That the average annual gross tolls received IN
the Nanawho turnpike in the years I3a7 l2s8,
and 1929, are equal to . I-2 per cent. on the
cost of the in :ovcmert, and the nett tolls to
PER- cent.
i. That the gross amount nf tolls received on the
ksnawha river, III the year 1929, is equal tn i
I2 per cent on the cost of the Improvement,
and the nett tolls to . per
B. That the average annual gross amount of tolls and
other profits, received On the four improvements
per last re urns, is equal to per the cost
of their construction, (S6i,ei3 he, on Sl,276,
sol 52.)
That the average annual nett profits Of these i'm
provemonts, after deductrng ail expenses ofwhat-
ever description properly chargeable TO hem,
are equal to 4-5ths per cent. on their cost,
(S48,4l1 GO, on 81 ,276 sol So.
And that after dedrcting the annual dividends
guaranteed to the Stockholders OF the old James
River Company, the paid into the I'rensu-
ry, towards the discharge of the interest OIL
loans obtained to make the improvements is
equal to t-2 per cent. the cost, 1881 6lI
60. on & ,276,50l So
And, also, that the actual receipts from the lower
Improvement OF James river. for $50, toge her
with tho supposed receipts for the same period
from the west ern improvements, estimated at no
more than those for 1929, which it s believed
they will exceed, will leave clear sum for the
payment of interest loans, exceeding per
cent. on the cost of all the improvements.
6. And that the clear sum derived from the two
James river improvements united, the lower
canal and Blue Ridge canal, after being charr-
ed with the dividends of Si6, 800, will be equal
TO nearly l-3 per cent. on their cost, being so
much contributed by them to the payment of
interest loans.
The Cd, marked B, is another Tabular State
mcnt OF investments, made by the State, in I'm
pr"verents nude by private companies, with the
annual dividends received thereon-the substance of
Which is contained in the following Eecapitulation
and Report:
REHABILITATION.
Total capital of all the private companies in which
the STATE is interested, S2,G65, 644 GO
Total capital in works completed or abandoned
and gwen up, 2.i20994 26
Fota capital in works in progress, 81 1860 90
average gross amount of tolls completed works,
n the last five years reported, 1911 So
Total rn,"nnt subscribed to private companies ny
the Commonwealth, 583,124 II
TOtal amount in works completed, or abandon
ed. 457,5l6 II
Total amount in works in progress, IG5 .608 90
Average amount Of dividends received by the
State from five turnpike companies, 1868 80
From ;hc above statement the following facts appear:
:. That the average annual G oss amount Of tolls,
received within The last five wears On all the inn
Provcments which the State is interested, de-
ducling those moi completed, is equal to about |
1 i-5 per cent. or the amount Of the capital
stock, (S8o,Il3 So on S2,l2o 994 26.)
,. That dividends have been received by the |
State from navigation companies.
8. That dividends have been received by the State
from The five following turnpike companies, to wit:
The I.ynchburg aud Salem Turnpike Company,
The Staunton and James River Turnpike Conpa- |
ny, the Ashby's Gap Turnpike Company the Lit !
lie River Turnpike Company, anG the Swift Run
Gap Turnpike Company. The dividends received
from tho two last mentioned companies. were on
stock subscribed for previous TO the creation of
the Fund for Internal Improvement.
s. That the average annual amount of these diyi-
dondS, compared with the whole amount of the
States subscription to Tarnpfe Companies is e.
quail to about ID per cent. 50 500 50 on 1891
G25,) and compared with the whole amount of
States subscriptions to Prio4te companies ofaH de-
scrtPtjon', (dedacting the improvements not compile
ted abont 5-6ths of per cent. (S3,S6o 80 on
S457,5fG ~
NOTES
Iyo River and Blue Ridge Turnpike IN progress
Wellsburg and Washington Turnpike Suspended for want
Of funds
Lessbrg Turnpike. This company has declared frroncn,
dividends among the private Otkhoders
Little River Turnpike. The subscription of the State 4,
This company, made previously the creation OF the
Fund for Internal improvement
iaiIiaz Turnpike The gate keeper OF this Turnpike re-
cevess ide tolls for his compensation
S"nt Run Cap Turnpike. The State subscribed sl1OO
20 THIS company before the Fund for Internal