Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1832-03-06


conflict with the views OF manySand his great object
was to remove all obstacles the bill now this
amendment. He should have taken an opportunity 10.
consult with gentlemen who acted with him. on this
amendment had not been for the ateness Of the session
retarded.
Mr.. Mcdowell said it was proper that as chairman of
the committee he should offer for excepting
this road II was rcnd of considerable ox,en, anj
would not save in some fractional parts be occupied by the
new company IL was very useful TO the State and
ought TO be retained Were it included in the stock il
would leave the new company without any competition
and give them monopoly; and they might hereafter
having check upon them exact with ror the fun ex
tent OF the tolls allowed them. The inclusion of this
ROAD might also be injurious TO the subscription II tho
commonwealth should subscribe the two-iiiths of tho
stock he would accede TO this proposition but other
wise.
MIR. Cabcl thought a fit time TO state Dist when Il
was order he intended 10 reduce the subscrp
uoh OF the State TO the amount at which the present
improvements should be valued the idea of tho
gentleman from Rockbrdge that the company would have
monopoly Of the pora:ion he would remind him,
that they would have to contend against competition with
the Baltimore aud Ohio Rail Road the New York and
emo canals &c from which they would be sufficiently
under me lash OF competition.
Mr. Mcdowell explained. He had stated formerly that
ne believed no Improvement could be made this
route by a Joint Stock Company, compete With the
improvements ofother States, as to exterior commerce
bu as to The interior commerce., (hc property which will
DC carried along the linc this outward competition would
nave no elect Tie thought the plan suggested by the
gentleman from Nelson violent transition from the
vote given by him on State loan If there was any inn
Frovement which had claim upon the Legislature for the
l amount OF the proportion given Joint Stock Compa-
MES it was this IL the great improvement of the
State, and Immediately interested forty counties For
himself, he wo,ld countenunce any subscription to
s inc most Important improvement oflc State, OF less
Mr.. Cabell replied He had stated 10 the gentleman
from kockbrdge early in the session. that this was the most
practicable plan Nor did his for loan conflict with
ms course IN favor ola joint stock company. He would
sort 10 the one II he could carry the other The ques
on oil Incorporation, and of subscriptions were not neccs-
Srs 10 DC considered together But twas absolutely
eey 20 meet the question OF subscription far ts
value OF the States improvements went And Is the
,on,c should see Int TO subscribe the twoAhs now he
9"oui DC rcloicad at 1t But he Thought il prudent
to separate thc questions OF Incorporation and subscription
ana decide upon the former first lie who be-
eved that the stock could be raised without further cali
on the State 1t was certainly better TO pass such BILL
IMAM no Dill at ALL and there would he objection TO leav
ing open the act so that the State could subscribe.
Tor wohhs He desired TO take, if they could get
iwo,hith,, the amount OF the States property
Mr. Moore was opposed TO the amendment, the road
would not he sufficiently valuable satisfy the companv
1t did not bring six per the company would not
want and IL II was TO be valued according the receipts
1t could b. sold ont any day private individuals He
was moi so sanguine in believing that the be so
easily filled up. lie believed that, il the State did not
subscribe The woiths, the charter would be worth
! brass arthng.
Mr. Summers thought il bad policy for the State TO get
RIA oil ihi' turnpike II was profitable and OF great
benefit to the State Ie inquired how the value of thi,
property could be fixed upon by the company 1t was
valuable to the Sae and would be individuals; but it
could be the company because il formed no part
OF their workit neither canal or a railroad And
the company wanedr ready money stocks bringing
in interest Besides, the road completed Mr.. s.
:!
hold the twohs. He opinion that the same mea--
sure OF aid would be extended TO this great work. as to-
| mc petty lont stock companies OF the State.
Mr. Marshall asked the gentleman from n Nelson whether
itwoud not be better TO Withdraw his motion until the
as TO The amount TO be subscribed by the State
should have been decided upon.
MIR. Cabeil acceded to the suggestion, and withdrew
! his motion.
| The 81 section amended on motion of Mr. CabeIl
by striking out the words 'not exceeding sixty days-
removing the restriction of the time during which the
books oil the company may be kept open.
he
ell by adding TO the clause rendering obligatory or,
The stock holders opay their nsents into the Bank of
Virginia or Farmers Bank of Va the commissioners
| at the place OF subscription
Mr. Cabeil moved TO strike out the sixth section in or
der 10 test the question whetherthe will give SUBJ
scrplon oil two s, or only the value of her improve
Mr. Mcdowell said he hoped every member would c,ot
mat TINS question was vital 10 the Bhc believed that if
the state refused to contribute the which she gave
o'er and minor Improvements, the beneficial fea
tnre OF Inc bil would be destroyed The question was
men decided in the ncgative--Aycs 20 Noes 40
Mr. Mcdowell moved TO amend the 9th section so as 10
Tx me subscription OF the State at two. hs, although
more dian the other three ns of the stock should have
been subscribed by individuals
Mr. Marshall objected 10 the amendments because thcy
went 10 reSlrlcl individuals from going beyond subscrip
ton of three iinls.
Mr. Mcdowell said it to be supposed that five
millions would complete the Improvement and in that case
the company TO be allowed increase the stock 10
millions That addition not TO be shared in by the
Statc and two millions of six would he DISPARITY
enough against the State. The evil would be this If
the stock almost entirely in private hands The peon
never look decrease of the hurticns
ny inc company The imposition OF fifteen per cent was
very heavy and it was exPedient that the State should be
able, I, TO mitigate these burihens from time to time.
Mr. Cabc replied TO Mr.. Mcdowell, and EXPRESSED am
unwlnSness TO reject any offers of capital 10 yyhaevor
amount.
After few additional remarks from Mr. McDowell the
amendment was rejecicd-Ayes &c. Noes 81.
On motion OF Mr.. Marshall, the 9th section was omenJ
ed by inserting the words cor morcso as TO mako tbo
sense thus: ell three ihs the stock shall have
been subscribed by individuals the State shall subscribe
for the rcSduc.'
4 On motion Of MIR. Summers the 18th section was amend
ed by the insertion OF the words ''and Kanav "a,
TO make the title of the Company Thc James River and
Kanawha Company"
On motion of Mr.. Cabe the 10Th sectisn WAS stricken
out. '''''''
An unsuccessful motion was made by Mr. Mcdowell to
increase the number of Directors from fire TO nine
On motion of Mr. Preston, the word fire was stricken
out, and SeUeR inserted in its stead.
On motion OF Mr.. Cabcl the 10Th section was amended
by adding The stock shall be deemed personal estate
ana as such shall pass TO purchasers and admin
| istradors!'
Mr.. Cabc renewed the motion TO strike out the clause
excluding the kanawa turnpike from the mproy ements
| TO be invested in the stock of tbc company
On motion OF MIR. Roane, (yho said, this being very
interesting question, time ought TO be given the members
TO consider it the committee rose reported and had leave
! to sit agaia.
On motion Of Mr.. Summers leave was given to hiring in
bi 10 provide for the further inspection of salt in The
county OF Kanawha.
on MOTION OF Mr. Hart, the House adjourned.
CORRECTIONS
In our report of Thursdays proceedings ,ce ram.
Wlucd an error In the Ayes and Noes on MIR Chandler.
ono 10 RECONSIDER the vote the cngossrneut of the
1lI concerning Slaves, Free Negroes aud Muatoes we