Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1833-08-22

SECOND ANNUAL REPORT

w'" f'efS"dc HdL- Head Company, mad af %
Se"o~ n'ecanS y The SfockhoLaItIs, on .SafUr-
day the sd day Of august, 1853;
In presenting their second annual report to
The stockholders, If the directors Of the Win
chester and Potomac rail- road company hay.
u not IN their power TO exhibit a progress
squai To the age Of the charter, they feel con-
scious that II has arisen from causes not " ith-
IN their control; and while they regret the
Postpouement Of a work on which seems In
hang the sanguinc expectations of a drooping
community, they are convinced, from the
experience which has been coilec ted, the in
creased confidence in the system, the removal
OF threatened difficulties, that the delay, by
iaSoring It's energetic prosecution, will pro-
long It's ultimate success but little beyond the
period contemplated at the origin of the
scheme. Had the directors followed sogyes
lions, not unfrequent, that the commencement
oil The work would have gathered around il
the pecuniary support of the country, not
outstanding the deficient capital Of the COM
pany, aud the uncertainty which hung over
our connection with the Baltimore aud Ohio
railroad, suspended ut u,c Point of Rocks -
aiew interested spectators might have prufit-
ed by their rashncss; but the hopes of the
prudent friend OF Improvement would in all
hkeiihood have been disappointed. Such a
course must have increased the risk, without
ters OF the undertaking, now too limited ia
number, and vastly disProportioned in ability.
70 the wide and wealthy community destined
10 reap the richest harvest from their cxer-
tons Ours Is not stock jobbing population.
TO be urged on by fictitious excitement Sub
stantiai Improvement is their object, and the
success oil any company incorporated for that
purpose must depend upon the responsibility
OF uhe hrst subscriber or that of his Transferred,
who can. alone be cheered in the prosecution
OF the work by the general good expected and
Tue prospect oi a reasonable dividend upon
tlieir Investments, when IL is in operation.-
These principles have guided the board in
their deliberations, and preparatory measure,
have not been suspended for moment. v bicb
were deemed calculated to give them their
earliest efficiency.
IL will be remembered that the great CON
hdence IN the scheme, when first proposed To
the public, induced those entrusted with IL,
management to ask of the state tho subscrip-
ton OF one-fourth only Of its stock, instead Of
two-hfths, usually granted to companies in a
hKe situation with ours Mt that time. This
reduced amount was deemed sufficient, in or
der that the surrounding country, Of large
ana d"crsihed interest, might have an oppor-
unity OF Killing up the balance land thus sub
Ject the work, in all its stages, 10 the yiri-
liant Superintendent Of neighborhood capt
talists. In this, however, though a reason
able calculation, the board were disappoint-
cd, and they were compelled again 10 throw
themselves upon the bounty Of the state
memorial to that effect, herew ith submitted
was presented to the last legislature, through,
the medium Of our delegates; aud while We
are bound TO acknowledge the zeal w ith which
me claim OF the company was by them cnforc-
cd, we hail its success as an evidence Of Iibe-
"A ICrl linz A.
enjoying great natural advantages for trade
we're not insensible 60 the difficulties Of their
iellow-eitizehs Of the valley, long denied a
favorable outlet To market foF their various
productions. Let such enlarged policy con
tinue To influence those who hold the balance
OF the State, and Virginia will soon combine
with The just political weight she has lone
maintained IN the confcderacy, that improyc-
ment Of her inc xhausiibIe resources right,
expected by her partner in the common stock
oil national advantages; aud her Older settle
mehis, whence efOanated the hight of free
dom, whl yet revive and flourish under the
rctributise bounty of rich inland trade.
Next "a magnitude 20 completing The cam.
tai stock, the board considered The pyen,r,i,,.
~ step OF selecting an engineer. sho might
sdvantsgeousiy provide for It's disbursement
81 the location and economical construction
90 The work. And when II IL considered
ihat, among all tho labOT-saying improve
ments Of this enlightened age, none required
equal engineering skill with the judicio,r. az
PeEiniendsnee Of a fail-Foad--that an inner
icet view VI IFS general object aud minute De-
ta,is, iaisht endsnger, a every step, tl,o csps-
tai embarked M u, Or IN the end disspfso,nt
TIE community Which granted a chartered
iayors,-th stockholders will readily allow
with the directors, that 10 tl,is necessary eau.e
Of expenditure ,nsrrOw calculations o,isl,t nj
TO b. applied. Thus influenced. the t,,fd
appointed NOScraE RonISsoE, citizen al
virginia, principal engineer; and IL i conf
IDENTITY anticipated that, the eheapnsss Of con-
s'fuei'on stability, ard general s,ccess vhich
have distinguished similar works under his
care ~ THIS state and eisswh here. g. 49, ca
lent At least equal ~ thOse al any engineer IN
ths union, VIII, on the compiction of iiia Win
chester and Potomac rail-rosd, prove TIE sIs-
dom ~ their selection.
To render The scheme ~ generally acecp-
table ~ possible. and g. harmonike The inter
est u the producer With him Hho bad fiskcd
his capital in an impfotensant destined 10 BE-
oeht tie farmer above al others, On addition
o. The rate VI oils 5sflfl above vas Oh