Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1839-01-02

This would pay an annual interest Of per cent.
$l 900 O00 and still leave The sum of 1892 $50 to
pay annual charges and the expenses of transportation
the railroad and 10 augment the dividend beyond
per cent.
The ate OF transportation and tolls here supposed TO
prevail from the valley of the Kanawha 10 The city Of
Richmond, is only mills per ton per mile above the rate
prevailing The Erie canal; II is below The rate on
the Ohio Stale canal and very much below The rate on
the Pennsy Isania State line from Philadelphia TO Pitts
burg
II is not pretended that the tonnage would arrange it
self in The exact order here Indicated is necessary
TO the purposes OF the estimates that this result should
take place, if equivalent amount should be disrbu'
ted at various points upon the line.
1t should be rfcoecied that in estimating the proba
BILE Of tonnage from within the limits Of our
State, that our line OF Improvement combines The mineral
of Pennsy with the forest and agrlcutu
raj advantages of the New York lines; and, if the expe
rience Of those States should have any degree Of nu
upon calculations, would be fully warranted
IN assuming amount OF tonnage lar beyond that which
the estimate here presents.
At The close Of the Annual Report, extended Us it
unavodably has been by the peculiar circumstances Of
the year. there is neither space nor time left to give The
communication Of The results of researches which have
recently made upon the relations Of line OF improve
ment TO the great and rapidly ncreasng trade of the
valley of the Ohio. | will, however, advert briefly to
this great and interesting subject in one or Two OF lis
prominent points.
The Canal Commissioners Of the Stale Of New York,
in report estimated that the Tolls OF the canal
when enlarged will, at the present rates, pay annually
Three Millions Of Dollars, and that half OF that sum
will be received from property passing 10 and from other
States.
A Committee of the Legislature Of New York. at its
last session, al the head Of which MIR. Ruggles,
deemed it matter OF Importance 10 The State in imam
cia point Of TO institute elaborate investigation
upon The subject Of the of this estimate OF the
Canal Commissioners; and finally concluded by report,
stating the opinion of the COMMITTEE that the esti
mate Of the Canal Commissioners 10 say the least, was
not exaggerated
In the Of this investigation the attention Of the
committee directed orcbIy the export ard import
trade Of the five States and Territories between the Ohio
river and the Lnkes and the result Of their labors
upon this part Of the subject they stale that in about
the oil ten years from this time the probable ex,
ports and imports Of those States and Territories will
amount 10 The OF $500 100000.
Without undertaking 10 decide whether the principles
by which the committee were governed in their re.
searches upon this occasnn whether the conclusions
which they arrived perfectly correct, it is comPe
for 10 avail myself Of that estimate coming as
does, from respectable source and under cIrcn
stances imposing 10 illustrate the brilliant prospects oil
our line of improve me nj in the valley oil the Ohio.
In connection with this subject, beg leave 10 refer
the stockholders TO the accompanying table OF distances
from the town Of Portsmouth, situated at The mouth oil
the Ohio canal the Ohio river 10 the termination oil
the different lines OF transport carrying or king
carry the trade Of the immense region referred 10 IN
the estimate of The committee. (See App. o.
From. Portsmouth 10 The city of Richmond, by the
ment, it is 5ll miles From Portsmouth To Baltimore
by the Baltimore aud Ohio Railroad, G52. From Ports
mouth TO Georgetown, by the way OF tie Chesapeake
and Ohio Canal, G95. From Portsmouth 10 Philadel
phia, by he way Of the Ohio river and the Portage
and Columbia Railroads and the Pennsylvania Ca
nal, 40 From Portsmouth TO Philadelphia by the
way of the Sandy and Beaver Canals, the Ohio river
and the Pennsy lvania line, 745 From Portsmouth TO
Philadelphia by the way Of the Ohio river TO Pitlsburg
from Piilsburg by the way OF the proposed contnu
GUS water line along the Of the Yves, branch, SIS
| From Portsmouth 10 New York, by the way Of the
Ohio Stale Canal, Lake Erie ard the Erie Canal, 1922
From Portsmouth TO New Orleans, 1924. From Ports
| mouth 10 the Capes OF Virginia, by the way Of New
Orleans making the usual allowance cf one fourth the
actual distance By in addition for the deviation OF
the vessel from its course in consequence OF The wind
| and waves, 1924. From Portsmouth TO The Capes oil
| Virginia, via The James River and hanawha line oil
improvement, $50.
From this comparative statement it is evident that the
| James River and Kanawha improvement has the udvan
tage in point Of distance oil the lines with which II
| will come into competition. When TO this is added The
cheapness Of transport, resulting well from the cha
racler of the work from The shUness Of the route The
mildness and saubty of the climate the ceniraity oil
its lcrmini upon The Ohio and the Atlantic border the
protection the trade in time OF war from the cross lire
the Rip Raps and Old Point Comfort, and the prac
cabilty OF completing the line Of water communication
at future day, ii must be admitted that it is the mos
udvnnlng eous Of all The lines Of communication forming
| a connection between The Eastern and the Western
| States.
| Previous 10 the close of the Report, beg leave L
present 10 the stockholders in obedience TO The insuc
lions OF the Board of Directors, the accompanying peli
tion addressed by Patrick Mnhonng 10 the Board, ant
praying for pecunary relief from the company, uPor
the ground Of his having had the misfortune 10 become
blind during the operation of blasting in their service
! The subject is referred TO The stockholders from wan
of authority in the Directory over the subject Of the pc
| lilion.
In conclusion, the following resolutions respect
fully recommended 10 The consideration of the siockhold
| J. ResoIred That memorial be presented TO the LIE
CsatuTe at its next session. praying that honorable bod
10 give authority the James River and kunawha com
pany TO locate across the Armory lot, the line OF lock
necessary TO connect the canal with tide water ant
to levy The tolls The canal as it Is hnlshe
! from The Basin in Richmond 10 the town OF Lynchburg
9 Resoired That application be made TO the Legsla
ture praying that honorable body so 10 amend The char
ter of the company, TO release the company from tn
obligation in constructing the Railroad 10 make provision
| for more than one Track.
3 Rcsolred That application be made TO the Legsla
lure praying that honorable body amend the chartc
| oC The company so as to reduce toll
authorized 10 he levied upon tonnage passing upon TIT
railroad, from an average maximum Of cents per toI
per mile both ways TO an average maximum OF cent
per Ton per mile from East West and cents per to
per mile from West 10 East and to authorize the com
pany levy tolls on boats and passengers on the va
| ter parts of the line.
| a Rcsolred, That the restriction imposed by the q
resolution adopted the last annual meeting of TIT
stockholders regard 10 the duration OF loans 10 bt
negotiated for the purpose OF anticipating requlsltlons
he repealed and that the President and Directors be au
thnrized to negotiate such loans they may deem ne
cesssry and proper make the remainder of the capita
| available for carrying on the works
5 ResoIced, That application be made 10 The Legisa
ture, praying that honorable body TO subscribe on thu
mar, of the State three fiihs Of the of six millions
of DOLLARS proposed TO be added 10 the companys capita
stock and to give authority 10 the company 10 subscribe
on lis own part the other two.flhs OF this addiliona
capital, and TO borrow The amount Of the subscription
| az, A. thoc find thpr iicT
annexed, that the selling price of the STOCK
shall have reached its par value, the company shall bt
under an obligation sell number Of shares equvaen
to the number subscribed, and to apply The proceeds
! the sale TO the reimbursement Of the loan.
! On motion, the Presidents report with the accomPa
nving resolutions and Documents referred TO com
niittee consisting of Messrs Chapman Johnson john
Rutherford Sidney Baxter, Henry Erskine, Bernard
| Perinn lanes lilnv Eleminn lanes and Charles 2