Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1839-02-21

To Thos. w. Gmer,
Speaker of the House of Delegates.
Sir The resolution OF the House Of Delegates
yesterday. called upon me for a s,atemen, of The
tonnage and revenue OF the Canal when opened to
Lynbhburg, WAS delivered TO me last evening, and
as understand that prompt reply my part is
desired proceed AT comply, TO the best of
my ability, with the require nent OF the resolution.
although probably IN less satisfactory manner
than might do II more time were allowed for the
purpose.
The object ofthe resolution as explained to me
by the mover, IS to show the ability OF the James
River and kanawha Company to provide for the
payment OF the interest OF the loan Of 81 400 600
proposed TO be authorized under the guarantee of
the State by the bill now pending before the
House of Delegates relative TO the augmentation of
the capital OF the company
10 tins object my attention had already been di-
reced and tho result OF my enquiries is embodied
IN the papers herewith communicated, marked A.
H. and L. The paper marked A. being a statement
oil the average tonnage which reached the basin in
the city of Richmond by he way oflhc old Canal for
series OF five years, ending with the year 1897
with an application of The Tariff of Tolls To the
same the paper marked r., being letter from
Francis b. Deane, Jr. esq, Of the proprietors of
the lredegar Iron Works of Richmond, gentleman
oil well known responsibility aud oimuch intelligence
especially upon the subjects of the coal and iron
trade OF the State d the paper marked c., bejnp an
estimate OF the probable nett revenue OF the Company
n
nal TO Lynchburg. without any allowance of the in
crease resulting from the improvement except upon
/ the articles Of coal aud iron and upon passengers,
Mr. Deane's letter was written AT my particular re-
quest and the statement of tonnage and the estimate
OF revenue were prepared under my supernen dance
and direction, by VIM. b. Chittenden, ESD Secrc-
tary of the COMPANY
few explanatory remarks should accompany the
communication of those papers, in order that they
may be fully and clearly understood
In the latiOn of the Tariff of Tails bv Tho
charter of the James River and kanawha Company
the bjects of trade divided into five classes In
the four irst Of which, these objects are emu metaed
and the tolls in each class limited by special maxi
mum; whilst III the last, consisting of the residue
Of the trade, the objects are not enumerated and
the Company is authorized TO levy tolls discre-
ton, provided the amount levied, together with the
amount OF tolls upon the four first classes shall not
exceed an average maximum OF three cents per ton
per mile, upon the Whole amount Of either the
cendng descending navigation.
assuming rate OF tolls under the limitations of
the charter with view 10 show the probable reve-
nue. OF the canal, when opened far Lynch |
burg; have deemed proper at this early stage of
The work to go up upon all the enumerated articles
10 the maximum amount allowed by the charter. |
This maximum ranges from "a cents down TO 4 a
cent per ton per mile according to the description of
the article Upon the enumerated articles con |
sising chiefly Of merchandise ascending the Canal,
have assumed toll Of 3 cents and mills per
per mile which IS considerably lower than the full
amount which the charter would authorize, but as
much probably as it would be expedient and proper
to levy upon trade. toll of this amount together
with two cents per per mile for carriage, |
would place the aggregate cost of transportation
the ascending line from Richmond to Lynchcurg at
about one half the amount Of the customary rates
upon the river at the usual periods OF shipping goods
in the Spring and Fall of the year. At the rates as
sumed, the average tolls upon the whole trade
would be small fraction less than cents per ton
per mile.
The toll upon passengers is assumed the sup
position that the bill relative the James River and
kanawha Company now pending before the House
OF Delegates will become a law
In Judging Of the correctness of the estimate re-
atiye to the increase OF the coal trade, is proper
bear in mind that the railroads to the line Of mproy
ed navig alton from the coal pits both the North
and the South sides of James River have been re-
Gently constructed and that the line of locks con
Meeting the Basin, with tide water. will probably be
forthwith commenced SO as to be completed in the
course OF the xtyear
The price of water power in the absence of any
positive regulation by the board Of Directors who
have not yet settled the price, is assumed at The
price heretofore paid. Ii may be somewhat redu-
ced in lhenew estimates but the result of any proba
BILE reduction could not materially affect the estI
mates.
The of $3.50 per mile is assumed for the
pense Of superintendent and annual repairs upon the
Canal. This amount will probably be amply suffi
cent in the first years Of the improvement but will
!
gradual increase ofIhe trade upon the line. 1t is
less than the present amount OF similar charges on
the Erie and Champlan lines, where immense
trade is crowded into canals of dime Dsions Of but lit
tie more than half of those of the James River and
Kanawha Canal but it is than the amount on
the Chenango line 1t is less than the amount Of
such charges on the Delaware, Eastern, Juniaa and
Western divisions of the Pennsy lvana Canal but
more than the amount on the Susquehanna, North
and West Branch and Beaver and French Creek di-
visions Of the same work.
| No allowance is made in the subjoined estimate
for the increase Of revenue resulting from the i'm
proyement in the navigation, except from the arti
| Giles of coal and IRON. and from passengers.
On the Erie Canal, for the first nine years after it
was opened there was regular annual increase OF
the upward trade of about 80 per cent, and upon
the downward trade of about lGi per cent. There
can be no hazard in adopting the latter ratio OF in
crease for the trade on the James kiver and kanaw-
ha Canal, both ways-which in the two years taken
from the estimate would amount to 33b per cent
This incic would result in the addition S44l44
% to the annual nett exhibited by the sub
Joined estimate, and would show aggregate nett
revenue on the LIST Jan. 1912. after paying annual
charges, and the annuity to the old James River
Company, Of $2l5953 83, which would be "A 32-
100 per ceat., or millions, and about twice the a
mount of the interest the whole OF the proposed
sum of 50, 400, 900.
1t is proper 10 state, that the statement and esfi-
mate herewith exhibited, relate to the Canal as lar
as Lynchburg, and proceed upon the supposlon
that the line will be opened to that point by the
first day Of January next. For my views oil the
, effects upon the tonnage aud revenue OF tho Com
pany for further extension Of The improvement, into
the INTERIOR beg leave to refer he Honorable House