Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1840-01-11

For further information relative TO the fiscal con
Germs of the company bcg leave 10 refer 10 The
,ary detailed statement of receipts and disbursement.
for the year ending with the Both November 1899. and
his summary statement OF receipts and disbursement.
from the 9th June 1888, 10 Tie Both Novc.aher, 1880
| fScc appendix ID, and f.
Y.--ENTESsIoS or THE Il:E OF CONSTRUCTION Is
TnE SECOND GRAND DIVISION OF THE cAE,L.
II will be recollec,ed that in the summer of 1885 at
ter preparatory survey in the spring. location
made of that part othe line of the canal in the second
grand division which extends from Lyncburg u the
mouth OF the North river, being 21t miles III length,
and that in the month of August Of that that por
ton Of this location which is situated between Lynch
burg and the eastern termination of the Blue Ridge
canal being 90 miles and iG chains long was cxanin-
ed and approved by the board of directors.
| This location made by MIR. E. II. Gill, who
subsequently conducted the surveys Of 1898 upon all
The wafer parts Of the line lying TO the West Of the
| Blue Ridge mountain. The very satisfactory manner
in which these duties performed by Mr.. Gill; to-
gether with his accurate knowledge of that part Of the
line, created desire in TIE board OF directors that when
their operations should be extended above Lvmchhurg
he should take charge OF the construction of that part
of The work: and with this object view, nc the
mont. o.! January last, appointed principal assstan,
engineer to he called into service at the discretion o!
the company.
| At the meeting Of the board in the month of August
last, it decided TO commence the preparation OF
Of the North river with the exception ofsx sections
near Lynchburg already let 10 contractors; and Mr.
| Gill at the invitation OF the board Immediately
70 the State, and being furnished with the requisite
ss!ance and equipment, entered upon the discharge Of
this duty under the supervision and direction Of the
ch,efcnginccr.
| Ia adopting this measure, the board of directors
limited ITS order to mere preparation of the line rs far
the mouth Of the North river which would place il
in posture for prompt and advantageous action in the
fall with but little expense to the company, but alb
stained from further commitment al that time, with 4
view regulate its future by the Of
events, and by the of The funds the end of the
year.
Al The November meeting Of the board, the prepare
ton Of the line above yncburg being nearly CONFLICT
ed, the subject Of the future policy Of the board came
fully under their consideration. 1t appeared to the di-
rectory that the best interests Of the company required
that there should be no interruption TO the continuous
march Of the work but that, under existing crcum-
stances, proper regard to those interests called for
fcuccd scale of operation, limiting for the present the
line Of construction TO the mouth of the North river, and
interior operations beyond that point to mere location
of the line as far the mouth ci Craig creek. The
hoard saw sufficient objection to the proposed,
upon the ground Of the prevailing discount upon the
company post notes, inasnuch the reduction of
prices arising from the present great demand and very
limited supply of every description Of canal work, would
probably exceed the discount the post notes and more
Than coun:c rvail it. Tie continuance of the work
der all the disadvantages Of the present temporary
state Of things at least upon the limited scale proposed
also desirable in the estimation OF the board, IN
order avoid total breaking up and dispersion of In"
whole body of contractors, and Of the whole corps Of
engineers AT present engaged IN the service OF the com
pany. The continued progress OF the work was also
emncntly desirable IN the vicw OF the board, IN order
avert the injurious tendency Of suspension of ope
Gns, 10 create The impression that the enterprise o
connecting the eastern and western waters had been
totally abandoned, and by necessary consequence to
the lies by which this great work intended TO
bind together the eastern and western portions OF the
State. They also derived encouragement and conf
dcncc in the course which they had adopted, by the
assurance that the cxpcdent of issuing post notes had
often been rcsorted to not only by the directory Of The
great work on the northern border OF the State where
il was now in operation, but in several instances by the
State Of Pennsylvania itself.
The board of directors moreover felt 4 confident
trust that the legislature Of the State would give every
reasonable support to the efforts of the company TO
push forward the work into the western parts OF the
State and to its cndcavors hereafter to expand It's opc-
rat;ons upon the return of better times
Upon this important question: as upon that OF issuing
post notes. the board of directors deemed it expedent
and proper to lay their views in advance before the re-
representatives. of the State and of the corporations at
Richmond and upon full explanation OF the subject,
those gentlemen expressed their entire and hearty con-
currcncc in the course proposed TO be pursued.
IL is proper TO state that the agent OF the State an
nexed two conditions his appreciation Of the measure
of going on with the work above LynchbuFg; the first
of which was that in letting the work the board OF d.
tors should take care not 10 exceed the ultimate
means of the company 10 comply with ITS engagements:
the second that the scale OF prices to he gwen should
exceed that of the prices which had been pad by the
board for the last years. In the proprcty of OBJ
serving both these conditions the president and directors
of the company unanimously concurrcd
The whole of the work, with the exception OF the
dams and bridges and the six sections already let was
advertised 10 BE- lei 10 contractors at ynchburg on the
2th November; and the board determined to meet at
that place on the 2ls with the view OF employing the
interval in examining and passing upon the location OF
the Blue Ridge canal and Likewise several changes pro-
posed by the engineers the line located IN 1888 be-
tween Lynchburg and the eastern termination OF the
Blue Ridge canal These duties were performed by only
four of the directors who attended the meeting and acted
in the character of committee ofthe board On the 18th
and Goth of November vast crowd of contractors com
petcd for the work, and the whole line from Lynch
burg to the North river with The exception OF the SIX
sections already under contract was let TO responsible
and respectable of them OF very superior
order of contractors the excavation being ten
and the mechanical work "a reasonable allowance be-
ing made for changes in the specihcalions) al 80 per
cent below the average rate OF prices Paid bv me COM
pany for the last two years The company reserved le
privilege Of paying for the work either IN current notes
or in post notes convertible into the copcny bonds
guaranteed by the State in those bonds The con-
tracts were confirmed By the board of directors at their
meeting in Richmond on the th December
herewith communicate FOR the information OF the
stockholders copies OF amended forms OF contracts ana
ccifcations marked f. G.. II. j. X. l.. NJ. y . and
T. which have been prepared for use upon the new
works in the second grand division Of the canal
II is proper that should state that from tho atencss
Of the period of the year at which the preparation OF the
new line above Lynchburg completed, and the I'M
possibility of procuring meeting of the assessors alter
the usual and proper notice until some time IN the WINTER
Il became cxpcdcnt and necessary TO defer their assem-
6lage until the Of Spring, when they VIII be call
ed together the damages due TO ropretors for
A.. cd for the MT
AZ the close of tho last division Of the report be
leave 10 deain the stockholders few moments longer
in order to bring very briefly under their notice few
| miscellaneous subjects.
Since the last annual meeting the board of directors
have deemed il expcdent and proper TO make two ad-
dtions to the real estate Of the company the first con
ssting of the milling property Of Thomas Ruther-
level of the canal the second of % Of land, the