Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1834-08-07

Cie~s><sir ss.i OAio Cssat Company Scrip
The following extract from the last report
Of The Chesspeske and OHIO Canal company,
may Be inisrestIn. to those who have receb
ved. and To ~h0a has been rendered m pay
meat. the scrip recently issued BY that Com
P2Hy-
Pressed BY iheSe difficulties, Application
~,s made IN January last TO the Leg stature
Of May land for further addition to her sub
ser'Psson, Which, m 'P'rIi Of liserali,y. was
CONCEDED TO the company, 20 the amount OF
>i25. co0 an stocks, bearing IN interest Of eve
per cent afer the 1st Of April, ISIS. By
this arrangement; Of deferred interest for
one year, tbs value Of the stock directed to
be sssb-eris~d vas Of course reduced To
Sls0. 900, wki-h has been dtsbursed and dis
p-o-ed Of as follows, to wit: So, 900 Of IL have
teen placed IN the hands Of Phineas Isnney,
J. o. Van Ness, and wm- Price, IN trust, for
the redemption Of pcoaissory notes, which
have b--o issaed 10 the contractors and eredi-
tori OF the company. For the sa,ne purpose.
aid apPlbc able 10 the same object. $40. 600 Of
Wsshmstoa City stocks, aud Sa5 900 of
Georgetown stocks. IN all, sI5O, 1000 have
been assigned 20 those gentlemen. Upon this
trust fund the company has issued, and will
sssoe $50 .OUJ % promissory notes, ayabls
/ n L. m1aIhs. and bearing An interest OF four
Ter cent Ia March next, ID DAYS before
those hrst issued reach maturity, the trustees
are authorised ard directed TO sell these
stocks, AMI, with the proceeds, to redeem the
notss N the hands u the hoIders."
The National InieIlIs,ncer Of the 3I.t ult.
ais more than seven OF IT. spacious columns
nth part Of the Report made 1t the late ses-
$500 Of Congress by the Committee on Roads
and Canals, on the application Of the Chesa-
P~ake and Ohio Canal Company for n new
subscription TO their stock. II contains a de-
tailed history Of the origin and progress, OF
hat work. down TO the first Of April IN the
! present. wear.
/ Ofihe whole line OF Canal, the progress. OF
which - nEpuieiy detailed, II appears that
SIXTY -four miles were completed, aud es able
OF navigation, In October. ls33. OF the resi-
due of the line, under contract, il Is also as
eertained that nj the time Of the report TWEEN
ty-ooe miles awaited, to be brought into Use
the completion Of . single lock only and the
/ aT''esiret across Antietam Greek, the labor
Of feS weeks
! The greater part Of twenty four miles, pas
ssas By WilliamsPort, II nearly done. Que
hundred and nine miles arc thus on the poin,
Of completion. and an editorial comment IN
the National Inteliigencer adds that S6I miles
+ are in daily use.
/ The hnaneiaI history OF the Company is
complicated and difficult To be ATTRACTED
The following items arc among the principal
facts
| The capital stock amounted in June 1882.
To S3.s5s, 400, payable in money; 209, 1O1,
/ payable IN stock OF the Potomac Company
s4C.-Oi, payable in debts Of the company =
total. 81, il4, 9ll-of which the first item
only Is entitled 20 immediate dividends
I On the first Of January last the receipts and
expenditures To that date are stated thus -
The sums received from all sources amount
ed 10 S3,991, 1l6; OF which there were, for
capital stock subscribed =, $50 352; from the
I Baltimore and Ohio rail road, part payment
on the compromise, sll7, 333, and FOR tolls
SJI,S5-- The balance was from contingent
sources, with SIS. 900 borrowed from banks
The sums disbursed amount to 81, 1O7 ,262
Tor the construction Of the anal andRail road
IN part, repairs, salaries, interest, &c.
The total unezpended balance in hand, cor
s,siing Of dePosites in Bank, and corporation
4 stocks, therefore amounts to s220i
TO this ere added the sum Of Sl25 900 ne W
subscription on the part Of this State, and the
sums receivable from the L. States, from The
stale Of Maryland, and other sources. inelu.
ding the balance Of the sum due from the
Baltimore sod Ohio rail road (Ss, 666) and the
sums due from private stockhoIders-An AZ.
gregate altogether OF S7Os, sol.
IhS aggregate Is liable 20 reductions for
existing engagements, and apprehe nded def.
eseneses IN payment, TO the amount Of SI e.
Wo-Ie7vmg available. and apple able to the
unhnlsbed works Of the canal, the nett sum
OF S5i3,9
The report OF the Engineers states the
amount necessary TO Complete the works un.
der contract and not IN use, atSst9I69 81