Martinsburg gazette and public advertiser. [volume] (Martinsburg, Va. [W. Va.]) 1826-1833, 1833-02-07

Rocks; and, in the succeeding months OF
June and August, they added 37A miles more
to the 64i already placed under contract,
making 10 all, with the wsrk completed be-
low, aud the extension from the Rock creek
basin, to the Tyber, l02 miles of canal
BY the terms of these contracts, the GA
miles, next above the Tyber creek basin,
were to he brought into use The LIST Of
December last, but in consequence of the
prevalence of'the Cholera, during a part OF
the last autumn, the completion oftbese 64A
miles, will be delayed till the Ist Of May
next. The remainder of the I02 miles, are.
by contract, TO he completed by the list Of
September next; or within five years from
the commencement Of the canal without any
allowance being clairDed for the 81 years,
consumed by the injunction, which stayed
the progress Of the company, at the Point Of
Rocks. the place which the interference Of
the rail road company commenced.
1T appears that the capitol stock or the
company. subscribed in money exclusive Of
that which was authorized by the charter 10
be made, IN the stock and debts of the for.
mer Potomac company, consisted Of 50 ,609,-
200, subsc rIbed 10 tho extent Of So 100000
by government and the district corporations
and 6U9 400 by ptivste individuals, and the
corporation Of Shepberdstown. OF this stock
2,527 ,02I has been collected on the first Of
January, 1888. and 1,082.l79 remained to
he collected That the sum collected con
sists OF 2 100000. being rs per cent, en- the
3,0e0,000 subscribed by the United States,
the state Of Maryland and three corpora,
tons of the District of Columbia. and of277.-
05I by individuals; leaving TO bepaid, of the
corporate subscriptions $50 900, and Of the
private subscriptions, including that OF Shep-
herd5town, 3s2I7e.
Tins sum, with the cash on hand, amount
ing on the Sd day of January 10 Si68, aS7,
and the anticipated nett receipts of the com
pany from the tolls of the current year, cal
cuiitcd at s3l,50o producing together, the
sum NJ 81 ,2Sl $50. is computed 10 be ade-
qnate to the compilation, in the time prescrib
Ell. Of the 1G2 miles OF canal already finish
ed, or now under contract This compuia.
ton, the committee are assured, is founded
on repeated estimates of the cos, of the yari
Gus works in progress, carefully corrected
and very confidently relied on, by the epgi-
neers and offers of the company.
Believing this estimate to he entitled to
confidence, the t02 miles Of can,l will be,
probably completed by the present resources
OF the company, within five years from the
commencement of the canal, suprosing no
further time TO be claimed by tire company.
no account of the legal imppd nents thrown
in their way ~ ,ss very commencement of
their existence, by another company.
Your committee cannot however, entertain
a doubt but that the canal company could
sustain their charters against any legal effort
to dissolve 1t, on the ground that five years
allowed for completion of one hundred miles
OF the canal, had expired before so much of
the work had been actually brought into
use.
For it would be absurd 10 contend. after
allowing five years to he a reasona Bile time
for the execution OF SO much work, that
failure to complete It in eighteen months
incurred a forfeiture Of the night 70 do so at
all, and the more especially, as such failure
is imPntabe TO the legal proceedings Of ove
OF tire parties TO the chtrter Of t,.a COMPANY.
Your committee are appri-ed. that to the
prosecution oil the canal, each half mile. de
nominated a section, and each dam, lock
aqueduct and calvert, isconstrnc ted by spe-
cIal contract as distinct work: 80 thai 2
line OF any length may be placed under con-
tract and completed in the same period in
which the most difficult section of half q
mile in length is finished With no other dis
advantage, from the extension uf the work,
than an increased competition and conse
Snent enhancement Of the wages OF labor
The actual completion, therefore, within two
years from ITS commencement, of the TWEEN
tytwo miles OF canal between the mouth Of
Seneca and The basin in Georgetown, which
have heen now more than two years in use;
and which embrace between the head of the
Great Falls and the Back creek basin, the
most costly portion of the canal, below the
base OF The Allegheny mountain. affords suf-
hcient evidence that the one hundred miles
could have been completed in the period of
FIVE years. provided no legal impeachment had
the progress OF the canal company
at the Point Of Rocks.
Your committee have dwelt longer on this
aspect Of the affairs of the canal company,
lest their possible failure TO complete the Gf-
ty miles remaining to be constructed, prior
10 the first of October next, should be re
garded as affecting IN any degree the expe-
diency Of the subscription 10 their stock, ,,
which their memorial invites from the COM
Of Virginia.
Such subscription remains TO be consi-
dered in reference TO the interest of the
commonwealth in the canal, and her ability
TO supply the requested aid towards its com
pictioh.
II appears TO your committee. that all the
counties of Virginia. whether above or below
tide water; whether bordering on the Poto-
mac, or such of its tributaries a. are, or NAV
be with facility rendered navigabIe. are
more or less Interested in tho enc ,sss f,,l and