Staunton spectator. [volume] (Staunton, Va.) 182?-183?, 1832-03-09

i've millions dollars, with the priv lece Of
augmenting ii according 10 the wishes ottle
Company.
Ofthis capital, individuals are at Lihor
y TO take three fiiihs-the State reserves tho
privilege of taking two iijhS
). SO soon as the three fiiihs are subscrib-
ed by individuals, the State makes a suhsrip-
zion of the value of the existing works-in
other words, that valuation is 10 90 towards
the payment Of her subscription Of two
liiihs
9. This done, the Company will organize
by The choice OF a President and five (not
enough) Directors
10. State not bound 10 take hut two fiflhs
OF the original capital of five millions.
ii. The Company is charged in consido-
ration olthe PRIVILEGES and immunties grant
ed IT, TO connect the tide water of james Riy-
err, with the navigable waters ofthe Ohio, by
Canal or Rail Road or both.
II. The connection between the basin at
Richmond and the Port of Richmond is
part of the line
ID Tolls on Canals are not TO exceed an
average of three cents per ton, per mile
Discrimination is made in favor of gypsum.
coal, and some other articles.
ii. On the Rail Road from the James 10
The Kanawha, toll is not 10 exceed cents
per ton, per mile. Passengers five cents.
10. On hanawha River, tolls, are not 10
exceed cents per ton, per mile. Discrim-
nation IN favor of the salt and coal
10. lfa Rail Road be constructed through
out the line, the tolls from Crows ferry 10
Richmond, cents per ton, per mile-Rich-
mond 10 Crows ferry (upward) cents
through the mountain section cents.
II. The Company is 10 be exclusively
Transportation Company-is made liable as
common carriers-is inhibited from buying
and selling except in accommodation offs
Company wants. The inhibition does not
extend, however, 10 letting out water priv
ileges, &c.
Is. The maximum Of the Company's prof
IFS is limited TO Is per centum per annum.
The Charter perpetual. Gin Alabama lin.
tied to one hundred years)
-. The work must he commenced in two.
and completed in twelve years-falin@
which, the Company forleits its privileges 10
the State
20. Other improvements are allowed TO
lnierseot with tile central line of improve
menis.
81. The new Company is successor in all
respects TO the existing James River Com
pany. The 10 per cent guaranteed (fooIish-
ly the.5rst James River Company forever, is
TO he paid from the product of the States two
tiiihS. The three iiflhS owned by individu-
ais exempted from all responsibility for its
payment.
% The State having pledged the James
River tolls 10 different objects, the tolls on
the Kanawha road, and on the two fifthS own
ed by the State, are TO answer those pledges.
If insufficient, the Legislature will provide
other resources. The three filths owned by
individuals, eXonerated from any liability on
account OF these pledges.
% There were some omissions and errors
IN The Synopsis ofthe James River Bill, pub
llshed on Monday, which we now supply and
correct.
The Bill provides that in valuing the prop
erty of the Stale, the Commissioners shall
proceed upon the SuPPositiOn that the Con1pa-
ny tUiH eject to continue the Canal This is
a material point
The Canal, if executed, and the Kanawhu
river, if improved by locks and dams, 1ciH be-
free highways upon the payment of the tolls
prescribed: and the tolls npon the former
cannot exceed an average of three cents per
ton per mile, and on the latter an average of
two cents perton per mile, ercItlSive of trGns-
pOrfGiion, in each case.
Upon the Rail Road, the COMPANY will
have the exclusive privilege characterization;
IN consequence of the peculiar nature ofthis
species Transportation. The bill author
ICES cents per ion per mile for transporta-
ton on the rail road, from the western end
OF the canal, if the canal should be continued.
If there SHOULD be continued rail road. this
rate will prevail from Crows ferry near fha
mouth oiLowry's creek westward, but ,oest-
yard # thGt paint, four cents per ton per mile
viii he allowed on the descending trade, and
sly cents on the ascending. In all these cas-
eS as TO the rail road, the rate allowed in
cIudeS Job transportation md tolls.
The Bill secures to lie General Hssen5Ey
The right 10 allow or disalow, in future, the
junction oioiher rail roads TO the company's
line.