Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1842-11-26

both the construction of the Canal and in the an,pc
mcnt OF ia financial concerns That the President should
be bound as above mentioned, is the only conceivable in
enon OF the Stockholders, when they adopted their 10th
Bye Law.
Its location above, and Lynchbg, seems have
been very unwise Ii there had been continued canal
from the dam about miles above Lynchbnrg, il appears
to that it would have cost much more than the
towing path on the rt section, Cd grand division, the
guard lock, and the dams, and entertainments of Daniels
Island BY which location sufficient water power would
have been afforded Lynchburg for any purpose what
ever and the low aqueduct Backwatcr creek which
Is Obliged to be swept away by great frcshe in that
creek when James correspondence HIGH would
have been avoided And equally unwise was the location
OF the canal tho South side for the 10 miles below
Lynchbrg, by which the aqueduci Beaver and the
culvers 0possum and Fishing creeks encounter
cd; whereas the canal had have been continued on the
North sde but few small creeks would have been crossed
not more is believed, than the South side exclusive
of those enumerated The aqueduct Beaver and the
culve Opossun, have both been swept away the
building, rebuilding and repairing must be cons
derabc and might have been saved by different location
The location OF the canal ut Rutherord's mill certain
~ very improper.
this mill had been purchased in the first instance and
the canal had been located differently, great amount
OF money would have been saved; but the canal was ocn
ted above and the mill, by which the mhousc was
much injured that the had purchase hig
price, after encounering the great expense of location
This certainly unwise But these the location
only characterize the wisdom OF the Directory and are no
thing in comparison the defects in the cxecution-Of
tins intend to give plain statement, and will begin
Lynchburg: Just below Percivals, there was deep cut
and the earth thrown up in what is called n suoiibdnk
anu year or two afterwards another hired
take tins spoil bank and put in the river Now if this
cart; ought 10 have been put in the river, why have
made the r contractor put it hceland saved the ex
pense OF the second removal Many of the locks have
been taken down and rebuilt and several more have tim
bers put the lower end suppose keep the walls
from incning inwards and doubtless when the panking
rots they will likewise have be taken down and rebuilt
Many oi the culveris have fallen; and the aqucduc at
Beaver and that Rocksh River have both p,rtlv
fallen down-the former lately, and the latter last year
md all nj fhiaa
And how has the great injury which public have sus
tanned, by having their produce kept from market come
about 1t has all happened simply for the that at
tenton, while the work progress which is made TN,
Presidents duty by the 10th Byc-Law.
Can be believed that if the President had have faith
fully discharged his duties, that the Engineers would have
neglected theirs 10 the runous they did. think
not, but far from the ignnt supcrntendance reaur
ed, he was but seldom the line, and when called 10
Richmond frequently in his carriage and by other
routes and even when he did upon the line he notified
the Engineer OF his intended visit before hand when AZ
matter OF course all things would appear be correct
In the pond Maiden Adventure rocks have been Icft
which have injured boats, and likely njue more and
the level badly taken that only about 81 feet wnter
can be obtained at the lock- The dams at I've River
and at Joshua Falls dam, were finished before the Out
Fall lock- before the Guard lock, and River lock- at I've
River, and before the Double cuver was completed AT
owens Greek, thereby causing great expense the Com
pany, by the necessity Of using Golfer Dams baiing and
pumping. am aware, that a writer in the Wing (suppo
sed TO havebeen y denied that there was an aqueduct
Tye River, in objections which Were like
wise punished III the Wing last fall this a mere
evasion OF grand mistake for there certainly a dou-
bic culver aqueduct Owens Creek, n few miles
above rye River, and Golfer Dams and baing and pump
ing carried there, and the Contractor knew nnd
considered his interest too WELL have done for nothing
and although the item for baing and pumping mny NOT
have appeared in his estimates yet higher price was no
doubt paid on the other items of the works and
understand lawsuit has been instituted for baing
and pumping the Guard Lock rye River The boats
then navigating the River had be unoaded and 10 he
hauled the Dams by which they were DELAYED and dam
M lid a..
damages and such item appears in their account) the
owners Of the boats have kept very still about the great loss
they sustained by this proceeding.
The late freshe has done great injury TO the Cnnul
because the works not sufficiently guarded Ii guard
bank had been constructed low ground AZ Josbu
Falls Dam, that break which has cost large amount n,;b,
have been saved and of the Canal much sooner pre
pared for ansporng produco and below each lock where
there IL deep the earth had been put on the towing natb
instead oil beng thrown away as spoil bank the late shet
would not have flowed into the Canal but in few Places and
the injury would have been inconsderabe for in all case il
is believed that the flowed into the Canal near and be-
low the Locks.
Commencing the whole line from Iynchburp to Richmond
at one ume also showed Of forecast; by doing this
the price OF abour enhanced and consequently the con-
suchon OF the Canal made costly than would other
wise have been The sending Europe nasons and la
boures appears TO to have been also wrong MANY of
these to avoid paying the debts contracted by them 10
the Company, left this and went 10 other lines b;.
might have been reasonably expected Other items of mis-
management might be urged but the above are certainly
sufficient prove the community and To the
CTS inc uuless Oh the PRESIDENT 10 carry the of
TINS Company in proper manner notwithstanding his zeal
and general intelligence.
The financial concerns Of the company also proposcd
TO review; and in doing am compelled TO the concur
son. that the general Of wisdom characterzcs
II as Is apparent in the construction of the canal The
irst objection will urge was, the delay collecting the
instruments due for stock from individuals which nepl-
gonce has caused great oss the company MANY ind
viduals who able pay when the insialmcnts were
called for, have become bankrpt, and if the stock had
been sold the insalmenis become due il woud have
uuh In have ed tho &.
Whereas by INDUCING part Of the Stockholders prent i'm
justice done those who paid and the stock confirm
ally getting worse great loss las consequently been sus
tanned.
The next objection will urge was selling the Rich
mond city bonds at discount for the scrip or the post
notes Of the company. | aware this was done 10 sus
tam the credit Of the scrip, but ought have been
evident TO the Directors that this would be the case only as
long ms their Richmond city bonds listed The public
seemed to understand this better than the Directors for the
scnp exchanged for city bonds with great rapdy and az
soon as all the city bonds deG ont the scrip FELL
By this transaction great loss sustained by the com
pany
The State, il will bc remembered n aid this COMPANY
IN March, 1892 passed authorizing the Company 10
borrow - million Of dollars, and pledge the faith Of
the State for the payment Of the principal aud interest
And at meeting OF the Stockholders soon afterwards they
Rosoyed, that the President and Directors Of the Gonna
ny bc authorized and required adopt nccosgay and pro
per measures Tor negotiating this loan practical
Die" NJ this time, state securities were in demand in
Europe and this could have been negotiated doubtless az
That time, by Mr.. s., Minister the Court Of ST.
James, or by some house in England whose credit and
standing were unquestionabe but the Directory suf
Tered tins golden opportunity pass thereby dsobeyiug
The express will Of the Stockholders. II is true that some
efforts were made w Philadelphia and New York which
fned. But II is believed that an agent had have been
appointed proceed forthwith London (Which would
have been the proper course) had Mr. S., whose will