Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1835-01-31
So Y.
Virginia Legislator !;
HOUSE OF DELEGATES
Saturday, January "a.

The Bill to authorize the Common Council of the CITY
OF Richmond to make further subscription the
stock OF the James River and Kanawha Company
returned from the Senate with amendments was IN
ken up, and the question being on MIR. Witclers mo.
uon to amend that part of the last amendment of the
senate which fixes the vote of the State its add.
tonai subscription at vote for every sares-by
striking out "ten, and inserting sfrc''-
Mr. JonSsoS of r. said, he had reason to apprehend
that the statement which he had yesterday madc-n re-
iaon to the relative votes of the parties to this compa
ny should this amendment be adopted,--h not been
fully understood He therefore renewed the statement
then made and dcduccd from the computation of all the
votes that the vote of the State in full meeting of the
several parties to the company would be equivalent to
somewhat more than three or very nearly one
third This he thought would give the State sufficient
ihnuehcc Tor all useful purposes IL could scarcely be
supposed that case would occur, in which the State
would be arrayed side and the three corporations on
inc othcrand IN that case il might be in the power of
the state, at least to divide the votes of the private
sockhoders SO as TO overrue combination of the three
corporations In the Bank of Virginia. the Treasurer
votes for onethird of the stock andit was well under
sto9o That the institution thus placed pretty much
under his control lie had never heard OF an instance
In winch the vote of the Treasurer was ovcrrulcd-
he had been informed that this idea of the dispropor
uonateiy large vote of the State arranged by this
amendment had produced the effect of some
OF the best friends of the Improvement who were of
opinion that the Commonwealth influence would be
TOO great Looking at the nature of of the corpo-
raons he feared that such would be the case The Bank
OF Virginia being under The control of the State was
presumed that in any collision it would take sides with
the State. He trusted no feelings would bo q,
the progress OF the Company to ris, af
OF things-but that all partje ct
one spirit, for the best IN E con ,iebe
60 'u as s' p couiu Do in the views of the
ny ny VI hcnihoP ration of Lynchburg, the
p % anu u cath; but that they would act
object ,uld be to oscer,a;n ,to nj ni o.ile!
d. ,rming the work There might be local
s in which they would differ such as the point.
lance, where the canal should cease and the Rail-
ID commence. If the people of Buchanan and LYNCH
burg should disagree on this point would be ex6eced
ths' he State the Rank, and the Corporation of Rich
being disr ted parties, would decide the ques-
~ another consideration which req
he power of the Commonwealth
hpany, should not be overriding
public corporations, when connected with
institutions were liable to he managed for poi-
-. purposes. Surely individual could desire To soc
tins company converted into an instrument for the
achievement of political Objects instead being devoted
to general local and State purposes He trusted he had
sewn that they should be going increasing the
influence of the State in this company Should tho
amendment of the gentleman from Ptsy ivana be adopt
ca IL would give to the State, if the Bank vote be adj
died. thirty eight hundred yotes-a power which il wouId
DC impossible to resist Mr. J. objected yesterday to the
nrst motion OF the gentleman because would have inter-
iercd with the stPuatons of the charter That obec-
ton did not apply TO the motion under consdera-
ton But adopted in its present form the pri
w. Aplders would have to complain that
: kpt the word of promise to the ear and broLe
-rac sense Last year, held TO them the
Involvement TO subscrbe that the State should enjoy
VOC only OF one-fourh, and could not therefore con
troll the management IF the company Now we pro-
pssc take naf million mnr,sof the stock anal baS
do it by the amendment of the Senate II was sc,rce
practicable to sustain the proportion more accurately
pctwc The amount of subscription and tho vote than
had been done by this arrangement He Ind shewn that
the vote OF the State with the additional stock woud mo
three entts of the whole. The ratio before was one
fourth vote to onehaf Of the stockthe ratio now is
lhrce; tentbs vote to iree-f ifths of the stock mo-
derate portion Of arithmetic would shew that as ono
nnrth is to onehalf three enths to three 6fths
a.a -r~ed strict computation would
~" according to
p t. i. E Z.