Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-12-20

$4,000 tons from places below Lynchburg, supposed
TO pass 100 miles on the Canal, at cents per ton
per mile, for tolls, SiOO,O0O
$4,000 do from and to Lymchburg, and the
country between that and Buchanan
supposed to pass $50 miles, do. do. do. $50 900
10000 do. from and 10 Buchanan and the
country between that and Covington--
do. do. 100000
$4,000 do. from and Covington, and the
tail-rood, between that and the falls of
hanawha-supposed to pass 30 miles,
Mt do do. do. $50 900
$4,000 do. from and to the countries beyond
the falls of Knawha-supposed to pass
only 400 miles, at one cent per ton per
mile, goo 900
100000 tons. 100000
2opassengers each way per day, the
Railroad, making total of so daily
passengers, at SO each. los, 500
Total income of the Company 81 OO9 800
This estimate is exclusive of the income from coal
from the pats near the city OF Richmond and from water
rentsamountng, in the year 1882, the former So G52,
and the latter TO $4,000 per annum making together,
an annuity of SI2652 which, at legal interest would
raise capital of 2i0S66 67 is also exclusive of the
tolls the Kanawha river TO the
of the works upon that river; of the tolls upon the
tire turnpike road from Covingon To Guyandotie and
of the whole transportation the Rail- Road other than
that of passengers. These important and increasing
of income left out of the calculation, and
reserved separate fund to the charges Tor land
and water rights for the houses of lockcnders and col
lectors and for warehouses the RalRoad for which
purposes they would doubtless prove ample allowance
Should they fall short, during the progress the works
they would speedily upon 0ey eometion repay to the
Company any advance made temporarily supply their
nadequacy to the specified objects of expenditure
The adequacy Of an income of ,009 500, to yield
good dividend to the stockholders and to meet all The
engagements of the Company, will appear from the fol-
lowing statement
From the estimates of COST it would appear reasonable
20 expect that judicous and economical expenditure
the four millions of money with which the company will
embark III the enterprise will bring up the line Of lock
and dam navigation to the falls of Kanawha the
side; and the canal to Covingon the other
TO place the steamboats, of the west within the distance
ofW miles by the present excellent turnpike road of the
canal boats of With the execution of SO orpe
portion of the work. and the line of between
the waters advanced TO this extent the company would
occupy imposing position as to actual credit and m
ture prospects, But let the Improbable suppositoR be
induged that the remaining capital of 800 600 could
not be raised by new subscription of stock, and that
the company, like the Schuykill Navigation and the
Delaware and Raritan Companies should be compelled
to resort to the system of borrowing either with with
out specific pledge of its tolls guarantee for the in
terest and principal of the debt there cannot be
able doubt of the requisite Legislative sanction purpo
ses obviously expedien and proper; in which event
the above stated income of 81 iaght divided
and appropriated as follows
Fora dividend at per cent to the stockholders I0s 900
For the payment the OF annuity to the old
James River Company, 81 5000
For "a sinking fund pay the interest and pria-
cipal of the debt, a5QOg0
For keeping the works in repair, and other an
nual charges, 24O,5OO
Sl,00950o
There is every ground TO believe that the So 200 600
could be procured the general credit of the Company
at an interest OF pr ct at which rate of interest, the
debt would disappear under the operation of a sinking
fund of $500 i'm less than the of twenty
years As the trade would be constantly increasing the
surplus income thence arising after setting apart
pie fund for annual charges, might either be applied
augment the dividends of the stockholders
the sinking fund and hasten the final extinction of the
debt at which time the sinking fund itself being liberia
ted from its engagements, would pass into the Golfers OF
the Company and constitute clear addition the nett
profits of it's capital stock.
With the increase of the tonnage, and a
would he
measure, the tolls upon the portion of the line of
the falls OF Kanawia, should be reduced down to
cent per pei ".S; so IA to present all parts of
the line uniform rate OF cent per per mile
for told" aud one cent per ton per mle for Hansporta
ton.
Let it be distinctly understood that the amounts set
forth in the preceding calculations not supposed TO
be the quantities which will actually exist but are
sumed as undeniable consequences Of the Improvement
and intended merely to exhibit the immense value
and power of the line.
That total tonnage of $50 900 TONS is a minimum
calculation far within the limits of truth is rendered
probable by the remarkable facts that the line strikes
directly through the heart of the State, from the
ofthe Atlantic border to the of the
try that it is bordered throughout by immense forests,
and inexhnustibe beds of the most useful minerals
that II traverses lands of the greatest fertility and opens
line of connection with the west which, in point Of
dstcnce, cheapness of transport and exemption in
terrupton and danger, may challenge comparison with
the noblest works OF similar character through other
States
An impartial examination into the merits of different
routes will prove that the James River and Kanawha
Virginia. and of fourth of the States the Ohio,
exclusive of Virginia. and Pennsylvania By the
OF $780, the portions of question embraced
at that time population Of 765 the usual
increase in that part Of the IT, States that population
will have increased by the year 1910. 3i OSG souls
If rail road from Tennessee some point
of connection should be formed the estimate might
fairly extended TO "a Of Western Virginia half of
Tennessee, and fourth Of Alabama. The whole Of
the districts referred TO, contancd according to the
of 1880, aggregate population of 223 $685. which
by the year 1870 will have become 2446 600 souls To
say the least the trade ofone million Of people is saed
upon the present question
tits confidently believed, that within five years from
the completion Of the works. the tonnage would amount
to 100000 tons and within years from that period
million Of tons
In the of the year 1888 the Schuyki naviga.
ton had tonnage divided follows Mineral products
80 745 tons-Products Of the forest 1S 203 doFour
and Grain 80 1865 do.-Sundres 373G do Total 445.
$40 tons in the ycar 1888, there passed down three
lines in PennsylvaniatiIc Scbuylkil the Lel,gb and
tbe Delaware and Hudson G00,000 tons Of coul9IJnGl
the year 1885, the products Of the forest formed the
chief article the New York Canal In that year. the
products Of agriculture, in consequence Of the opening
OF the Ohio Canal took the lead and AMOUNTED IN 400
COO It's income in 1888 amounted 10 81 800 1863 90;
aud although OF its tonnage official return made
Il probably amounted TO one million Of tons The in
from the Erie and Champlain Canals in the wear
1888 fell but little short Of 81 800 600 and is increasing
Mt the rate Of hai million in every FIVE years.
Should the James River and Kanagha line be vioor.
ousy executed upon the liberal scale which il now
Contemplated it VIII be in danger Of losing the CO.
timated amount Of trade, by competition with FOREIGN
or domestic rivals OF the two powerful companies
nal les sufficiently out Of way TO the North; and #
carried out according 10 the original design will strike
the Ohio River, at the town Of Pittel,nro which il
30 miles above the mouth Of the Great Kanawha and