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

OF taking under their considerations The hest d"n .,
ppieung inc subscription to the stock of the James
RIVER and kanawha Company.
- upon call from Mr.. Chapman johnson ,nor A.
that he would present to the meeting such infr-
mr"Cabeii arose aud said
mat nc was sensible of his unworthincss 10 stand mn
eon an occasion OF such deep and vital interest be-
iorc men SO much more competent than htnsclf ~ ~,
sist inc elaboration of the meeting But MS bc b,d
heretofore made it rule of action TO himself never 10
ms personal AID to the proposed enterprise howe
" iuniS u might be-, so now he felt il his duty 10 rc
Ponu 10 the call made upon him. and to Law before tho
meeting his views upon the subject -
re wonld consume time in giving the l;stor, 81
'he enterprise. Ii already sufcientv lno,v,, H.
would not dwell upon the general adya,tages az ibe
syo"d neg We're felt and appreciated by ALL He
wouu proceed directly TO the two great questions
e.eu most likely TO influence the future course of The
Isl is the proposed subscription an advnn
taseous investment Of capital? Cd If Tho suhscr;n,;
should not be filed will not the Improvement o dr.,
WIN ihe charter lis object was to discuss es, ones
or -, se Paest and simplest form, that the truth
detected. s 0 i'Nuiy perceived or
What then are
Hh PROPERTIES OF THE JAMES RiyER AND KAMA
, IN, VIVA STocK
me me charter IS perpetual and the chartered priv
ges VIII endure for feature by no means iecn
har 10 Inc Charter of the James River and Kon,,h 80
pany, but of the highest interest when consIero an
connection with the best right of way 10 the v,es,cr,
% lie ue Importance OF which may be we'll illustrated
Company. seeking to give to the western trade on,b
u aloelgh outlet to the sea, now instead of The
Inc capital of the company is exempt from the us,,,
tu1euoh incident to lands slaves and other pro-
pry, ana Is not subject to n bonus like banking com
panes, at the commencement of their onerat;en -;
ature r SO si"A'eo ny me Legs
s. The instalments of principal will be eosv md CON.
secnt 10 the Stockhoders the first nsialment being
ohy one per cent, whilst the second to be called in 1
le course OF the next year, it is expected will not en-
ScSI zen ana the remainder of the capital will NOT nyo
years. f "a 'o"' VI hVe
TT
q. he stock will be transferable without further re-
spohsioity on the part of the original holder acr tho
payment OF so upon the sharc-an amen,ntorv mr.
VISION introduced into the original charter with view
cia community N w No"i'iei-
o; The security and stability of tic stock are ouar,n
teeu by the alliance of the State and the rnersbn
Vi powerful corporations in the scheme The States i'm
cresis in the stock and in the successful rcsn liz
measure, were other guards wanting beinr enficient
agalist injurious legislation, whilst that of the
iPoI"iohs VIII prompt them to exercise their well.
with the public. W 'e
D. Whilst the stock of the minor con,na,;.s of ,t
state can find purchaser only in the nitrS d;str;,
HI winch they operate, that Of the James River and "a
Inv I'D company from the magnitude of the work cou
PIS1 us II w be, with other valuable pronctcs
VIII be vendibe i'll the great markets of the world '
T. In ali the meetings of the stockholders the Sio.cs
bearing to that OF the private stockholders preset
p any occasion the proportion Of only one TO four
uie government of the company is sceurcd ne;..jI,
Z. lie private subscrbers:a capital provision most mar
iiihousy conceded by the Legislature and pre rn,nt
WIN wholesome economy, and good MANAGEMENT in tho
administration of the business OF the con5Snv " ''
nc company Is compelled by the charter TO divide
us surplus profits, after the payment of annual charges
ana the dividend of $2i GOO to the old james Rgcr
Company and the State by the transfer 10 the Con1nanv
Vi .he surplus OF the James River Tolls aonting in
uiy years TO upwards of $4,000 has furnished the
means OF making respectable dividend unttbc worL q
sal arrive at iynchbnrg where the Tolls viii com
'iSiicG a., ana yield greater profit 60 the Company
y. The Dividend will gradually augment d1rina Tho
progress Oh ,he works, and speedily after their compile
the provisions of the charter. y
nc hrs eight propositions speak for themselves and
require no additional explanation. The last involves
dcvclopement " Pa ui"i
The question whether the stock of the James River
a anu hanawha Company will be profitable stock de-
pehds uPon-the selection of udicious plan Gar fbc
"orks-tne quantum of capital TO be invesed-and tbc
Ti S Gl tonnage which viii pass upon the line
ms first enquiry then, will be as to tho
IN" OF THE WORKS AND ESTIMATE OF THE RroUf-
r. SITE CAPITAL.
Let 1t be supposed that in exercising the liberal d;
, ny the charter in regard to the plan of the
worhs he company should decide to lock and dam Tho
hanawha River, from the mouth thereof TO the GI q,
make Rail Road with double track from the falls Of
kanawha, by the vallics of New River and Ge III 20
IVer across the mountains to the town of Coyinoon ON
Jackson River; and TO make a Canal so feet vide and
IeSs aoP along the vaes of Jacksons River James
ser' nom uie town OF Covngton TO the head of Tide
water at the City Of Richmond " w
M ne ioioWng is believed to be estimate of
j. The Kanawla NAVIGATION ,rLcro ,.o zoe r.
i IN the ~ miles OF the river from Point Pleasant 10
the rails OF which feet il is supposed r Mi 49,
Wouid DC overcome by the inclination in the surface IL
"ar OF inc ponds leaving about 100 feet 10 be sur
mounted by the Locks and Dams ~ sur
IVY feet OF Steamboat Locks at $4,000 the
foot lift ss,SSS Goo
100 do of Dams, at $1,000 do do i00,0G0
. Tbo no.. c.a.,. --S3OO,OO 900
RIVERS The remaining So 100000, of the
ncipent capital of 81 100000 OF money
alter the deduction Of S300.G00 for the Ka,
hawha navigation, is supposed to be amply
or jtJ
i hiies On u the James and Jacksons Rivers,
being at the rate of 81 ,452 dollars per milo
making an aggregate for the new Canal of $37OOO0o
drhor,ne 9I,OoO,OoO
at Richmond, to tide wntcr--ond tle o,I,r.,,.
mcnt Of the old Canal eaN06
8 The Rail Road--l5O miles
at $4,000 per mile s3COO00O
- s3,3OO,OOo
co,i,1 .on,.a..,., s7,8oo,OCO
works on the limo 100000
Total Capital Of tho Company ss,30oy0oO
Under tho auspices ofskful and economical MANAGE
mcnt there seems to be reasonable ground 10 don
That The line may be completed with the amount of eapi
ta set forth IN the preceding calculation
nc adequacy Of the estimate fer the Kana,yba Nav
CATION seems never to have been questioned from nnv
quarter whatsoever.
The estimation for the Rail Road ,gns originally, s,,
gcs.cd BY the experience Of the Baltimore and Ohio
i'ail Road Company, who after having executed seven
" mics Of their line, declared their ability 10 extend il
70 the Ohio River, at tic rate Of 10000 per mile II
understood 10 be amply sustained by the experience of
uie Little Schuylk Rail Road in the State Of Pennsyl-
yania, which is Road Of double tracks executed
through n country of similar cborocfcr "a , 80 -