Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1832-12-25
CONTAMINATION.

EDITORS THE E.rQUTRER
subscriber requests of the Editors the re- publ
cation of the following able and conclusive Essay i'm
support of the produclveness and value of the
james River and Kanawha Stock, proceeding from
the pen of distinguished citizen, now residing i'm
section of the State Immediately interested i'm
the great work proposed be executed by the
Company, but formerly and for many years a Di-
rector OF the old James River Company. State
ments from such Il source, unbiased by the inllu-
enco of partial interests, and possessing the best
means OF forming correct Judgment, are entitled 10
the greatest weight and consideration from q can
did and dispcssonaic public. The reader will bear
in mind, that from recent improvements i'm the art
of constructing Canals and Railroads, it will be in
the power Of the Company finish the work i'm
much less Time than that assumed in the subioined
Essay. 1t will also be recoeced, that the Legisa-
urc will possess the right without conflicting with
the provisions of the charter authorize the col
lection of the tolls before the Canal reaches
Lynchburg, and as soon as any considerable por-
ton OF At shall have been executed. In either, or
both of these modes, the period for receiving full
profits, may, and doubtless will be, greatly accee-
rated. PHILO A. b.
,,,, ,,,,cs From P1,mp,itiis, Political Aron9;I
THE JAMES RIVER AND KANAWHA COM
PANY.
\ warm friend Of the Improvements contemplated by
the Act Incorporating the Company above named but who
thinks he take pretty diSpassionae of the sub.
cct solici's the attention of Capitalists certain facts in
relation TO It, OF which they not have had oppor-
tunity TO be Informed, but which, if correct, (and that will
be submitted to their cando will tend shew the proba
bic value of the stock OF that Company.
One thing, if not unknowa, is perhaps not duly appre
ciaed adveed by many; aud that is tst his stock
viii be yielding sem-annua dividend from the moment
the subscriptions arc filled up.
This is perhaps, the only instance of Joint stock Com
pany OF this description receiving on their money
from the moment OF their incorporation 1t results from
the circumstance that there is already communication
partly by water and partly by turnpike road, from tide
water =, Richmond to the Ohio river with the exception
OF tie distance been Crows Ferry and Covingon where
q" present, there IS only road or very imperfect
navigation, in times Of high water.
These improvements Weld a given revenue which,
has been regularly increasng hough no ne mpoye
meats have recently been made the River but which
has kept pace with the iucr aed products OF the cou,trv
ard may fairly be eXpec ed Increase in the same rao
End from ihe cause, should n thing more he
done but which must augment more cereinv and 10 a
much greater extent, and more perfect improve
mems shall afford greater facilities trade and unite the
therent sections by continued line OF communication
The act cf 1854 inco~9oraed Tie Ja,ues River Comp,
ny with capital OF 100000 $40 shares OF $3.50 each
his increased in 1900 BY 200 shares more making
re whole capital SliO,OO0of this the State subscribed
Tor 200 h're or $40 GEO. and has since acquired by ur
chase, great proportion 0 the o her shares
Ry act passed February, 1922 The State became be
exclusive proprietor OF al the rights Of the Company ia
order 70 enable her TO mike such improvements differ
ent from those Vtjc 'he Company were found TO make
the wants Of the country imperiousIy called Tor On
ths comproise 1t agreed, that the old
should receive, for given lime az wears, tSeive e
cc1i per tn"nm ray he hal yearly their CAPT al A.
mounting 10 %63)D aud should from and after ,i, wear
rec i've 10 per cent forever $2l,0JO.
believe you'll he found. on calculation that the old
stockholders, including the State, had been rcmunera,ed
the interest Of their Capital per cent UP 10 the wear
ioN0 since WIllci ie OIL sOck has drawn IL
The state, ct is tine, portion of her original sub.
frIPunns 10 General Washington, who made a donation
thereof to Inc College ~ LeNnglon but in this way il il
no less state property tn The residue OF her snscrip.
uon' AMI the shares subsequently purchased which did
not cost her on an avcfagc,pd vaueEvery share then
wHch sc holds ~ prime cost say Of $500 per share
has received from the tolls paid be pdid TO all lime
by the James RIVER people 400 back interest and will re
cciye ~ tniuc an interest IT 10 per cent per aunu
making each share WORTH in market al least @6OO
suppose i1e state 10 oyn, including the College stool
oo' shares which am inclined 10 think is under the
marx here IS clear gain OF S2)J,OO0, besides fe sur
Pus interest beyonl cent Tor ie last 10 or II vc,rs.
equal Probby 10 $50 900 more She has also recoiyei
The annual srpluscs hereafter noticed which II ,yi he
seen mast h'y' hecn average $50 900 say far .
years-s'y &30DOOo' making 10 al SGIO 900. against
fN,fe bg run 1.-THE following sttoyt Zoo, Ito, -
tor viii show th1t The em1o BY a. b. dc proosrv ~ ~
hu1 college TIE Old C0utIIug, Of he etr5t
Hafers o. on ytnes R.ear Company s,oek. ''"'
Botd OF Public Wo.ks ID '"''os'
Literary Fund 1ci
Hold by tht A'
Wiiliaw sud Mar, COLLEGE ''S'0p i55
neg ~ l"lirriV In'umilons Up
',tnie Hni L'omv Institutions sqz
lndieidn1lF living -"
Eslifnf Of i.rslseI p.fsnfs
liza
Toialomos~o' Shares zo,
March 8, l-.I}. ~