Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1835-01-31

over the ratio fixed last year. IJus
comes nearer that ratio, which, In Justice to the prlva,
stockholders ought nearly possible to be preserved
The corporation OF Richmond to have of one
to ten their subscription. This was beyond confront
now; as that provision had been embraced in the
Scnate's amendments Would il be Justice tben IN In
the vote of the State when il was no longer in
our power to give proportonate privilege 10 the corpo-
ration! Under all views of the subject he thought the
amendment OF the Senate ought to be adopted and he
hoped the motion of the gentleman from Pittsylvana
would not prevail.
Mr.. WTcnER said, if he was not so well convinced
oil the proprety of the motion he had made, he might
perhaps obey the dictates of prudence and avoid saving
more on this subject He well aware of the strength
of the friends of the company in this House-be vas
well aware of the influence Of the city member here
and nc had seen sufficient yesterday almost to warrant
hun IN saying, that single shrug of that gentcmans
shoulders sufficient 20 turn the decision of the House
They had been told by that gentleman, that the niu-
ence of the State great i'm the Comma
ny-and he assumes that the decision of last wear ties
down the State to continuation of the vote of one
fourth OF the stock. But as MIR. Witchcr was NOT
convinced OF the Propriety Of that restriction he
was therefore, not convinced that it ought to be car.
RED out IN relation to the additional stock TO be
subscribed. But the gentleman from Richmond has
quaiIficd all his computations by supposna the meetings
70 De always iu Did nc not consider that the probabi-
NY was That they woald often be deficient in the full
number OF stockholders? The corporation subscriptions
constituted uns-the Bank u subscriber To this stock
was unit and they may combine What could the
state do against such combination, She bears the ma
orty Of the burtbcn but she is TO be disabled from OK
ercIsng control over the management of the company
the treasurer has the control Ofthc
Bank of Va, and that the Bank will therefore take sides
with the State. But this doubtful The control of
the treasurer, with onerd of the votes of the Bank
stockholders, depended upon their non-attendanoo or
their voting with him. But the State could have
no prospect Of cxcrtng such an influence i'm this
company. Look at the House of DELEGATES for
instance-what control would nc-third of the votes
give over the decisions Of the House? None at all
IL could not be expected that ali tc stockholders would
be present, and the abscnccs would be from the coun.
try and not from the City The subscribers in the city
arc almost equal to oncbaf of tho private subscription
Inc private stock in the city owned almost by the
same individuals who owned the Banks and who crca-
ted the corporation Of Richmond These parties ossi.
latng so closely would without doubt combine together
and they could ovcrrnlc the State.
MIR w. here read series Of statements 10 sbew the
little weight the State would have in these various cascs
1t would be perceived that the State would lose by
every absent stakeholder. And, IT clearly made
out that the control Of the company would be given TO
VIII devove upon them. Who are 10 be your cnri-
neeIs, your togothcrcrs, and your oficcrsi-1he City
81 Hchmond will have the appointment Of thcm--The
peoplcarc tobe burhcned with the expense OF a work
and The property Of the country is TO be pledged for
completion, which the State has no control Va
rious occurred him which rendered the States
control desirable. The friends Of the company antic
pated immense profits from the work Should these cx
pcctaons be realized twould be proper that the amount
Of profits should bc restrained; and it might be expe
dent Tor the state to inerpose The corporations also
might speculate upon the stock and sell out 10 large
capitalists, that the control Of the company ioh fall
into improper hands, if the States influence could not
be made 70 preponderatc.
lie did not object 10 the improvement Of the James Ri
vcrtha he knew must take place lie believed that il Is
dollars per ton charged on produce from Lynch
burg down. the river would not be ACKNOWLEDGING
II rs The cheapest and The most natural Transportation
Tic wished to be understood that he Objected 10 oiyn
this corporation whose busthens light, prepon.