Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1842-03-03
Virginia legislature.
HOUSE OF DELEGATES,
Ihursday, Nb. o..

AuO tOAo""S eAPiuudtOTy StatottltW hVut tuo |
,mes River and kanawha Company, which was
resented by MIR. DoRMAN on yesterday, was prin-
ID and laid on the tables Of the members this
Aorning:
IN Explanatory Staiement Of the President, and
Directors Of the James Rirtr and Kanu,cha Conn
pdny, in relation to the Agency f Gen. james
Hamihon.
Tho Undersigned, President and Directors Of
he James River and Kanawha Company, res
,ectiully represent:
That, since the presentation of their petition, |
skiing the aid Of the General Assembly, they |
ave received further information touching part |
If the guaranteed bonds placed in the possession
Of their agent, which they deem it their duty to
BY a paper forwarded to them from General
Hamilton, purportng TO be contract between
him as the agent OF the James River and Kanawha
Company, and banking house in Amsterdam,
bearing date the 25th August, in the year one
thousand eight hundred and forty, it appears that
the bankers agreed to open loan to General Ham
ilton, as the agent of the company, not exceeding
one hundred and thirty thousand guilders, for
period Of one year, for commission of two and
half per cent. for negotiating, and at interest
OF bvep per centum per annuu, upon pledge Of
the guaranteed bonds of the company to the a.
mount ofGtteen thousand pounds sterling. For
the details of which contract reference may Ge
had to the contract itselfin possession Of the
pany.
The undersigned learned from General Hamil-
ton that the whole this loan, amounting about
fifty thousand dollars, was taken up very shortly
after the date of the contract, and applied chiefly
to the uses of the Texian Government, in the full
confidence that loan on behalf of that Govern
ment, to very large amount, would speedily be
consummated by him, from the proceeds of which,
the money obtained from the bankers in Amster-
dam, would be replaced, and the bonds OF the
hehas been disappointed by unexpected and I'M
comfortable events; though he yet seems conf
dent that the money will shortly be restored and
the bonds redeemed.
They have received from him at the same time
three papers executed by him with view to in
Identifying the company, the first bearing date the
ist Of September, 1910, the second dated the 18th
February, lSil and the third dated the 18th
January, 1912. They are intended To give TO the
company lien on General Hamllton's interest in
property to very large amount in the States of
Alabama, Mississippi, Georgia. and South Car
olina; the whole Of his interest in which, after
deducting prior membranes, is estimated by
him at eighty-iive thousand seven hundred and
fifty dollars.
What may be the ultimate value or this secur-
iiy, the undersigned have no means Of judging.
1t is obvious, however, that it cannot be relied up
on as furnishing the means OF speedy relief; nor
are they yet sufficiently informed of the cirruu.-
stances attending this transaction with The house
at Amsterdam, to enable them to obtain sa,isiac-
tory advice as to the extent oftheir legal liability
Tor tho loan or of the rgh. Of the banker to sell
the hypothecated bonds
The fifteen thousand pounds Of bonds thus ac-
counted for, added to the one hundred and eight
thousand pounds supposed to be in the hands OF
Morrison, Sons, a. Co., OF London, leaves yet I'm
accounted for eight hundred pounds Of the bonds
placed in the hands of General Hamilton. This,
IT not earlier explained, they have 10 doubt will
De accounted Tor on the return OF General iiamil'
teine9;;' hlia4iaes5t .Mh;her he went they in
Orleans from Europe.
JOSEFH c. CADELL, President.
JOHN A. LANCASTER, =
THOS. NJ. BONDURANT,
RICHARD SAMPSON, Darector,
CORBIN WARWICK,
Richmond, February %, 1912.
THE DISTRIBUTION ACT.
The order of the day being joint resolution
oilered by Mr.. Irving. for the appointment of a
commissioner TO receive the States proportion nm
der the Distribution act
Mr. Holiday proposed to amend with sub-
slltute declaring the distribution act unconstitu-
tional, and instructlng our Senators and REQUEST
ing our Representatives in Congress to exert them
selves TO obtain its repeal.
IL being late in the day, Mr.. Holiday sunqes-
Tea mat IL would be better to defer the subject 10
give more time for its discussion, and on motion
OF Mr. irving, the resolution was made the order
OF the day for Monday.
RESOLUTION.
ny MIR. Kinney, that leave be given to brine in
bill assigning to the Judges of the Court of An
Peals,for a conference chamber, the room now o.
cuPied by the Committee of Roads and Internal
Navigation, and that the present conference cham
Der be assigned to the Committee of Roads and
Internal Navigation.
BILLS PASSED.
The following bills were read third time and
passed:
bill amending the laws in relation to the du-
Ties OF Clerks OF Courts, and for. other purposes.
bill to change the time of holding the quarter
ly terms Of the Courts of the county Of A!lepbanv
Der.
On Friday, the General Assembly were enoa.
geo most OF the day in electng Major General
IN the place OF Gen. Baldwin, resigned. Gen.
Lewis, OF Rockingham, was nominated nv Mr.
Smith of R.-Col. ID. kincheloe by Air. brown,
OF Preston, and Gen. John Sloan, by Mr.. Vance
FIRST Joint vote, Lewis AZ, kincheioe so, Sloan
9l: Second vote, Sloan 76, Kincheloe I5-scat
terlng l. Third vote, Sloan 90, kincbelue 53.-
zen. Sloan was accordingly declared duly
elected. '
Election Of Penitcntiary Storc-Kceper.
Yesterday the election of Store Keeper and
General Agent Of the Penitentary took place in
the Legislature. In the House, MIR. Cox of G.
nominated James G.. Watson, the incumben, wbo
had filled the office for several years MIR. Dormau
nominated John N. Shields; MIR. Watkins nnro;.
mated David e. Randolph; Mr.. Kinney nominated