Martinsburg gazette and public advertiser. [volume] (Martinsburg, Va. [W. Va.]) 1826-1833, 1832-06-28
CnEsaPEAKE .1ND OHIO C.fyvft.

! OF THIS work are exniOite0 10 tue ouftn An
nual Report of the Board Of Directors to the
Stockholders presented at their annual meet
ip9 on the 4th inst. After stating the delays
to which the progress Of the work has been
subjected by the legal controversy with the
Rail Road Company Of Baltimore, the report
congratulates the stockholders upon the ia
youTable decision Of that question, and re
fers to the steps hat were, Immediately up
on that decision, adopted by the Board for
the extension Of the Canal with all possible
speed throughout the hundred miles required
to be completed iE five years from ITS COIN
mencement.
In pursuance Of the resolutions adopted,
and as soon as the necessary locations were
completed, the distance between the Point
of Rocks and the Mouth of the Opequon was
put under contract with a few exceptions)
at two different lettings. This distance com
prises J65 miles, and embraces two dams a
cross the river, Zone Immediately below the
Shenandoah, and the other the Opequon) two
~aqneducts, lover the Kitoctan and Antietam)
lorty three c~uIverts, and fourteen lift locks;
and The cost, for which the same has been
contracted, including estimates for those
parts not yet put under contract, and also an
allowance of 5 per cent. for contingencies, is
Esl,l12,3s0. Those parts not contracted for
are some of the locks and culvarts.
The next step taken by the Board, after
the necessary surveys which have been dIrec
ted and prosecuted for the purpose shall have
been completed, is the erection of a fifth dam
at the mouth Of Licking creek and the plac
ing of the distance between that point and
Wiliiamsport d~ownwards, under contract,
and az far below W r%fliamsport as the resour-
ces of the company will admit. The dam at
J \ ,.Etnr N roal ,yo.,bI harE tho xyafor 40 f...
to give three feet additional depth at Han
cock. This increased eIesat,cn of the water,
the descending Canal from Licking creek,
and the increased height of the water bel)w
WIl,iamsport, in consequence Of the dam be-
low the Opequon, will afford the means of d
continuous and constant navigation OF them
selves, until the company shall be enabled TO
complete the intermediate space OF the canal
When therefore even so much shall have
beel elected, there is sufficient ground for
the suppoSition that the trade from the west
by the Cumberland soa<l will descend the ri.
Yer and canal, after II reaches Hancock, the
point OF intersection of these two modes oi
conveyance; and that the trade westward will
a,sJ pursue the same course. The income
of the company will therefore be proportion
ably enhanced.
Tn report recommends that the question
of substituting slack water navigation for ii
Continuous canal along the three miles oil
cliffs at Galloway ruill, be deferred, as no
Inconvenience will result lfoin a delay Of its
deelsloa for a shorttime. The Board are in
csned to the belief that a canal will be pre-
lefred.
ttom an exposition Of the expenditures
and resources Of the company applicable ~
the Eastern Division OF the Canal, itappears
thu fha - 49, - 4 IA
ted, with the cash on hand, and after de
Quoting upwards of $4,000 as an allowance
for bad~aad doubtful debts, is si,GIO,Si4 -
the payments required en- the part of the Ca
nal below the. Point of Rocks. for assess
meats OF damages, and unfinished work, and
the amount OF the late contracts, constitute
a sum OF 81 1889 ,o38; leaving a balance 10 ia
vof OF the company of S21l 7z5 applicable
to the construction OF the Canal above th
~opeouon. This balance would mere thai
complete a distance OF about IA miles above
the Opeqien, which added 10 the distance
below, would constitute the one hundred
miles. HE report then goes into an expla
nation oil the resources of the COMPANY for
the construction OF The b~alancei provided the
fund woulu not possibly bold out. 81 these
the safe OF the mole at George town, of real
property III George town, and ofwater rights
at the locks and waste places, which the
Board arc advised by counsel they have the
rlsht, usdcF The chorter, TO dispose Of, and
ttc Tolls oil the company. compose the ehiel
ihese resources, excepting the tolls, arc es-
tiinated at $3.50, 600, and might form the ba-
SIS OF a loan. The tolls Themselves would,
is pledged, authorlse a loan Of sufficient
magnitude to answer the purpose. These
wall be very considerably increased by the
ensuing spring, -as by tadt time, the work
WIZ be IN use as far as i|larper's Ferry. lhe
.'baiauce OF the work contracted for is 10 be
Completed by the fail of 1888, and the con.
hdeht expectation is expressed tia. all the re.
QUESTIONS OF the charter viii be complied
with ID the prescribed time. Should such
not be Inc case, 40 doubt can be entertained
OF an extension Of i:oi5 beng given by the
necessary authorities for the completion of
the work.
ibe amount OF tolls received for the last
year is s3l 800, exceeding that Of tue previ-
Gus year by S2,357. The cost for repairs,
lock Keepers and collectors has amounted du-
fihs the same period to upwards or SO, 900.
10 raise the necessary funds to comnle,c
tpe DIVISION TO Cumberland, the report re-
comtnends, besides private subscriptions, an
application to Congress, and TO the States of
'irg'nia, Maryland, and Pennsylvania for
aHdi'lonal subscriptions towards this effect.
Urgent reasons are assigned why the state of
Maryland, TO whose territory this work is
confined, and which is to receive from i, in
cd'culabie benefits and augmented wealth
ana population, should literally subscribe in
anu OF The means for its extension. Ihe opi