Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1842-05-19
JAMES RIVER & KANAwHA COMPANY

called meeting Of the Stockholders Of this Com
pany was held in Richmond, on Tuesday, the third
instant, for the purpose Of considering the provi-
rons Of the act Of Assembly entitled, IAN act au.
ihorzing loan to the James River and Kanawha
Company" passed March 25th, 1872, with view
10 the acceptance or rejection Of the same.
The meeting was organized by calling Gen John
III. Cooke, Of Fluvanna, to the Chair. The Presi-
dent laid before the meeting a copy Of the act IN
question, with narrative Of the events which, tran
spring shortly after the adjournment OF the annual
meeting Of the Stockholders IN December last, had
rendered II expedient not to press the memorial for
a new subscription by the State, which had been
ordered at that meeting; but in lieu thereof 10 apply
to the Legislature for loan Of $3.50 900 OF State
Stock This had become necessary, IN order 10 ex.
tricate the Company from the enhancement coca.
stoned by having than half a million Of its re-.
sources tied up in Europe; while such an addition
to the COmpany's means could be applied 10 the
completion Of the unfinished work on the ne--n
purpose 10 which portion Of the new subscription
had been made, would necessarily have been
applied. lie also adverted 10 the course Of egisla-
ton on the subject whereby the original bill as re.
ported by committee 10 the House OF Delegates
ADD which responded TO the memorial, had been
transformed into the law then presented for the con.
sideration Of the Stockholders.
The report and accompanying documents were
referred 10 a committee, consisting Of Messrs. Sgd
ney s. Baxter, John Brockenbrough Samuel Tay-
lor. Thomas H. Flood, Joseph Mayo. Nicholas
Mills, James Bosher, Chapman johnson, Aiexen
der Mnseloy, David Anderson, Jr. and Charles
EiloI, Jr, with instructions 10 enquire and report
the measures which they might deem proper TO be
adopted.
On the day following, in conformity with the
accommodations Of the above committee, resolutions
were passed
Accepting the loan Of $4,000 Of State Stock
authorized ny he acl aiorssud, subject 10 the con.
ditons therein provided.
Reducing the Presidents salary 10 s25OO per
nnnum, and the pay Of the Directors 10 81 Der
diem, and their mileage to ~ cents per mile.
lnstruciing the President nnd Directors to reduce
the conversation Of certain officers, follows, viz
~ the Chef Engineer, TO $1,000 per annum; Of the
Principal Assistant Engineer, employed on the
" chmoud Dock, TO 81 500 per annum; OF the Super.
in'ondent Of Repair, TO $500 per annum; Of the
Assistant Supennlendcnts on the I'd, Sd and 9Th
sections, TO $3.50 pcr annUn; e the Superinten dent
Of Masonry, 10 81 pcr diem.
Authorizing the President and Directors 10 make
,egulauons Tor the superniendence Of tho first
Division Of the Canal.
S41su,snung qn,Her.y for monthly meetings Of
the President and Directors.
Requiring ~ President and Directions IN yso
every exertlen 70 complete the Richmond Dock 40
as 90 put q IN operation, sud autbor,s,ng lien, r.,
that purpose, 10 use the stock arrsararss vel d,e
when collected, anu 70 p'e'ge the tolls Of the Dock
as far rs necessary; and
Rcauirng the President and Drestots p, .,, d,
rue sToCE m ARREARS, AND TAEr tnHtpt.Tr
AEAsUsEs TO EEToRoE TIE PAYMENT or AT a.
HEARAcEs
On motion Of Mr Ellet, IL was
Rsseipsd. That committed for The purpose o
recommending measures TO he adopted by the bod
Of Stockholders 10 continued from one genefu
meeting TO another and that all matters intendo
by the President and Directors 10 be proposed 70
the consideration Of the Stockholders, he submitte'
20 such committee some reasonable time before Oh
meeting Of the Stockholders.
Mcssrs Samuel Taylor, John Broekenbroueh
Joseph Mayo, Sidney =. Baker, and Robert {
Scott were appointed on the COMMITTEES under th
last fetOiuton;
And IhsrsopOn, the meeung adjourned.