Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1832-09-18

VIII ne sustained by the opinions OF those
guained with the subject On this point | have been
torciby impressed with remark Of gentlemen i'm whose
know ledge ond judgment have great confidence, wits
but the fact OF this great work being actually secured
ana commenced will have the effect during very first
year, TO produce far the increase of tolls by attracting
the attention OF the distant commercial agricultural
public, TO the superior eheGPEesS and freedom from IN
fefupionS by ice of the present imperfect route
aud thus induce them TO snake an experiment which will
tend TO conviction OF those advantages well as of the
nniv9ed facilities which will be afforded by the compile
iion of the Improvement"
The Improvements tho River and Roads made sine O
te compromise with the Company, including The extern
sion OF The road TO Big Sandy estimated by the I'd Au-
the old imProy emcnts rhese--o,d pnd new-woter
rents, and every privilege and immunity are to become
vested in the new Company exemp; from all taxation or
dividends 10 the old Stockholders, and with annual repairs
see sections . 81 % and ~ of the of Incorpora-
uon) The Capital of the Company, with privilege TO
it, is 50 000 Of which the State at once takes
oCooOo, IN payment Tor and in consideration of trans
ierng to this Company the whole rights of the State as
aforesaid. The Act also provides, that while the works
arc in progress, and after they completed semannu-
adivdends are to be declared OF all surplus profits after
paying dividends to the old neutrality-suspicious. that
when these profits shall exceed dividend of per cent
they be kept within that limit by reduction of tolls
These dividends TO be declared each share in pro-
portion to the amount actually paid thereon by the Stock
ing paid, by the transfer of her rights the full amount
above sated--(see sections so and 5l)
Let suppose then, that the Stock all aken one mil
lion by the State, and ourby individuals and that the lat
ter have paid so each share according the requis-
tons of the Act, (secons and ~ making $4,000 Say
o9S ana c company organised so that in the course of
that year. they may take the best advice TO the kind of
improvements and have ii in part located so as TO he able
to make contracts and begin the work by the first OF Janua-
ry, lsS4-le US what dividend they will on
their money up to January ls34.The surplus for the
year 1881 was say $42,7sO
ed, at the rate OF $4,000 per annum, for two
years 5000
Will give for 1888 sis,7so
But there is to be added TO the annual ex-
tOck-
holders is per cent; deduct 1920
Leaves S44,58o
to be divided, say the lst of Jan 1884, this will pay
per cent. 81 900, and leave $3.50 undivided
The year 1883 will have been employ ed, and portion
of the 100000 expended, in carrying the work on as
above stated. leaving as much money, however,
probably be judicously expended in the year 1884,
no new call will be made in that year But the above
surplus will be increased the of the year. 1884
Wy ' p'''Ve az aOo'e ana oy announcer grauu-
al increase OF tolls OF $4,000 in all, say $50060This
will give dividend, the first of January 1885 of
per cent and leave $1,000, undivided
Let suppose that s. per share will be CAL
led for and paid The 18th of January, 1885. This will
amount to 100000, and will make the whole payment
- 900 The TO be divided, according precc-
ing data, the end of this year. will be- S5l I20 which
will divide ID per cent? and leave $lI20 undivided.
This brings us down TO the st of January 1896 when ono
million will have been expended and the new improve
ments probably extended TO Scottsvie, which place
there is a turnpike road from Saunlon The trade will
have necessarily increased only in the ordinary pro-
ducions OF the country increased by the wealth dispersed
on the line bat in those hch ponderous and
ter the eXPenccs Of the present imperfect navigation
this ine too, such experience will he had the work,
and such advances made in its location that twice as much
money may he judciously expended. We will therefore,
suppose that S26 per hare$I 900 600 shall be demand
ed and pail the l.t Of January 1896 The to be
divided at the end of s year. according TO lie pre-
ceding estima,e allowing nothing for increase
quence of new Improvements, would he SCI 240 must
therefore be safe in setting down the surplus the Of
the year 1856 During which year, 10y the way million
more will have been cxpended) $4,000 to be divided
which will give dividend Of Ii per cent on So 600
w IN will
have been expended, which is presumed will carry The
work, whether a canal or rail road to LvncLIuro
see, from Report Of the Board of Public Works of The
2ls December, 1880, that the estimate OF the public En-
gneer for this work. supposng it to be continued canal
was s. 100000.
But when the work goes this far the Company will have
right to levy tolls from that down, and la like manner,
as they successfully advance the North River Rock
bridge and to Crows Ferry and above there, on.every
section OF 10 mlles(ee section 40 The effect which
this state OF things produce on the tolls, and surplus
be divided, it is impossible accurately to estimate
In the year 1929 the publc Engineer reports that in
the year 1927, there were transported James River
lO9OO tons OF produce and merchandise besides 5293i3
bushels Of coal He estimates one half Of this
ing TO and from Lynchburg aud the other half be- at an
average of half that distance The distance from Rich
mond 10 Lynchburg is, say $50 miles without estimating
the tolls paid on the mountain section Che tolls from
Inychirg down would he charged saw on 20 400 tons
for 100 miles and 20I00 tons, for IS miles supposng
The tonnage not to have increased since 1927 either by
The progressive improvement Of The country by the cf
iects OF the new improvements.
The tolls allowed by the act, suppo,ine the canal inn
provcment as fixed on, not 10 exceed GUeTcge
lccHlUS anu ueSCcOlng, OF cents ton mile, al
though some articles 90 70 tor less the average, Of
course, will be made equal cents by charging more
on articles that will bear H. This will be 81 10 per ton
for 100 miles, aud for 400 tons that distance sol 500
/ For 20,iOO Tons, 10 miles, at 81 %, 40 900
eros. receipt of Tolls, $4,000
But must allow for increase Of Tonnage, from
Il 1927 60 1887, ten years, say only 100 per cent.
n arising both from gradual increase and effects
Of improvements, 1877, 700
s215,40O
This too, is exclusive Of COAL and Of tolls in The noun
tain section, and on the Kauawha road and IL
TO me therefore impossible that in setting down
the gross tolls at the end Of ha year 1897 At 275,10O
II These improvements il IS also worthy OF remark, have
eNlngused nearly all the expences the bed Of the RI
YER Or the ls IF January, 1887 1926 per Share 600
600. The above viii pay per TO the stockho
ders, and leave S754OO pay dividends 10 old stockho
des and other expences, besides the undivided surplus Of
the preceding yeor.
This additional million will have carried the works by
the end Of the year 1897, beyond Crows Ferry where
the whole South western trade will be intercepted The
Improvements and the wealth distributed on The line will
have begun 70 operate the country below, well
above, aud consequently increase 10 mount the
gross tolls up $500 600 the end ofhe year 1885, may
surely be calculated 90 the LIST Of January, OF this
81 the las call ID which