Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1842-01-24
I,3s6,775 90

inclusive OF the pass Q: the alegha-
nv a copy OF winch Is herewith
commun Gated land marked ~, it
appears that these charges estimated
u1on a liberal scale, inclusive OF
$4,000. annually set apart tor the
renewal from time 10 tNe OF the
mechanical works, will amount TO
the sum OF about 100000 90
Which being deducted from the gross
tolls above stated, will leave nett
balance Of Sl,Is6,775 90
Being per cent. intercs; on upwards of I9I mil
! lions ct Do arS.
Ii such be the probable results II the work with
out the south western arm, what might not ex-
poet om the addition o. that branch cfthe combined
/ scheme OF Improvement May not I've nesuniticd
Ia ask, aso f the opening OF the rst division of the
| canal extending only TO Lynchburg, wss instantly
! ieit from Winchester 20 inyi.ie, and from Rich
rnord TO Knoxville. what wi. not be its .tf-cs up n
he southwest rn trade, when boats of 90 tons bur
den ord 80 per cent. larger than the average size Of
s.oops uivl aung the Caese;e he bay. shall reach
the borders Of Tennessee and offer Continuous vova-
ges from those distant regions 10 the head OF TIDE
wCtetf May net ais, ask, wnAt wi. be the ton
mage o. the main trunk Of the entire scheme Of
Improvement, when the whole system shall DC
c7mpeted and lis influence shall reach from the
hordoEs OF Alabama, 10 the highlands between the
ONO and The Lakes, and from tho banks Of the
Mississippi to the shores Of the A;liu,ic1 Most
assurediy we could 70, be justly charged with
ext av' sance, should rduI.c in very heh anti.
c'pators. In the year $50, as we learn from the
cfrl reports the property cleared on the canals o.
New " amounted io l,il6 Oi6 IONS was valued
az SD5.3OJ s92. end PAID tolls 70 Tho amount Of
Sl,'s5 ~ 81. The oica. returns for the present
wear have not ye; appeared. b.; it hiss been stated
10 i1e pHnl, prints. that ne 20 Is for the year ls4l
wi. exceed S2uu0,ooo TIE a0uusl increase Of the
revenue s.rcc 'h- opening OF the canals, and the
ruswentHg ratio for some years past, are we
clicu 1tco io clnh-m 'he estimate 81 the canal
commissioners made 1 1887. t's, af er ;hc compile
uon &C tfe fu'afga men; oi the En-, Canal the tolls
vii exc cd aorus. v The SUN of $4,000 eco. We
ore informed also, hy he public prints, that during
the present seas1l lie ssreCafc shipments OF the
single article q anthracite c1i from the priuciuq'
mining s'ricts o.. rho SAFE Of Pennsylvania have
/ amounted o. l.Oi7 81 tons.
Havu- briefly presented my views OF the en-
.'rsc9 system 90 Improvement, OF which record
the appropriate work of the James river and IA.
nawhi company, as now proD0sed 10 be amended.
70 constitute only part, beg lelve 10 present 10
the stockholders m estimate marked E. OF the
amount necessary 10 complete the compauy's IN
movement on the plan of bringing the two water
lines 10 the base Of the a ghany, wi'h M'Adam-
zed portage OF twenty seven miles between them.
IL will he perceived that this estimate amounts to
the sum Of SIX mi 'ons Of dollars.
beg leave 20 recommend 10 the consideration Of
the Stockholders, plan for raising the additional
capital and for sinking fund for paying of the per.
minent debts OF the company, as follows:
That the legislature be respectfully invited to
subscribe three hfths of the additional capital and
TO advance the amount Of the subscription, in semi
annual instruments Of S375,0O Commencing on the
Isl day Of July next.
Thot when the States subscrpti shall have
been expended on the works, the other two. fflLs
or the private part Of the capital, may be raised
either by subscription or by a sale Of nsw sh,res or
in such other mode the legislature may then deem
u pr per 10 aut.O lie.
That upon the completion n the Inc, n sinking
fund Oh per cent. calculated upon The amount Of
. The permanent debts of the company, sh1I be set
ann I.sf ~ ff.n fnN| nr a rE.
gradual extinction o. ,he prime pal OF those deb's.
In making this reoomm'n il'ion, beg esve to
remark. that uere appalts 90 be good grounds Tor
the e.ief, that i' tie S1ie should see Il to m Ike
the proposed subscription, a large part, II no, the
whole, of ihe interest," on her advances, m ght lie
met by her share u'lc metz revenue arising from
the current income oi he company
In view OF the deep interest Of tho st,is in tho
more enlarged system Of western connection Of
which the comn,nys line Of improvement Will roim
on'y part 1nd also OF the very great advantages
10 result from her umly sanction and npprobi ion of
the same bee further 10 gest to the consideration
Of the stockholders, tho propre'y Of accompanying
the applications 20 the legislature, With invitation
b 10 that honorable body 10 secure the ultimate
execution Of this system i0 the following mInner;
That a. such time ..tcr the completion Of the
comnuny's inc Of amended works, as the l.eisl.-
ture may deem most advisable, the state will make
s1e OF t1fcicnt portion of her shares IN The stock
Of the company, and fsinves the proceeds in n rev
subscription 20 said stockto he applied 10 the union
OF the waters az the A.egh1ny portage.
That Of such time thereafter, as the legislature
shall see f', the state will make sale of so .ficient
portion nj her rem,ining shares IN ihs company's
cap'a stock, and invest the proceeds IN m improve
mcnt, upon such plan and organization as she may
deem best. If the navigation Of y river from the
mouth Of GfcenJrcr river 10 the North Carolina
line.
10 conrl,,on, b,g e1ve 10 prssen, IN the con
sidenfion OF tie sockhodcrs the fo. lowing reso'u-
tons. framed with o view % carry out dc recon-.
mcndlt.ons contained 30 this report:
Rssolrsi, That the legislature Of the state no
most respectfully req1ssted on behalf Oi the stock
holders Of the james river ami kanawhn compioy.
20 piss on act amendltorY of the charter Of the com
pany. embracing Che following provisions;
J. That the cOmpiny be- authorized 20 To moIfy
their Improvement on the K4niwhl river o.. To rr,
VIDE depth of water eqI1i u that required by l,v
iIr their n1 uuI VI breadth sufficient f1 admit
OF tue t10l.e If canal boats OF thc dimcns ors ol
, those r1s tlHnc "'d eru1l
,. iua. Ile company De authorized 20 sIls.i.It.
Tor .hit uJ toI u' te proposed rlU rpld VII. b .s
siu tsi wns. Fi HcerDUsf bridge, an extension %.
ii tl.'r ier limo from knuawn1 rvcr upward through
BE- Doe vBII,8 of New ryer and GrosnIrer riyert, III
o trdge such cHtenson, as lar up tie line ns tbs
o mouth oi Ifconbrcr uyer, or such point below te
ls s'm1 as the company mly soccf, to consist. ola loci
nni 1fm uiFig1unn Tor -tcamIDa,s oi 10 'r,st on.
TO hundred IONS uurIen, with che same iro,b u 800,
l and breadth Of channel .s ave to boz feo rcd ~ ,,
So hrniwhi rVcr below and from us month o..
OF brsctbr.f uver 0r from 5ucn other 90 al 4. mo ,
eec' for the upper limit of ssumbD 90 rsv.sto,.
ss 90 rrcn1rcr bi1sr, 90 cJn is, OF fcinlIn syi..
l5 ami or 900 chImci inI dimensions t1 thlt g .,.
I'll, sns. s"eeu cumond a1l CoVlnslon.
DO 3. In fc company be- ou'Lorzs 10 subs.rr,
pc Tor ihi pHu ni inc Proposed rifi road winch n sf
n cd co,tol GrtenHrer bridge rhor " "A ann
i o. s1r'ic. % up'u tn1 Iuc Of t1e cImY nv. tnl.
' pike o.d tl. Hsen said bridge aud Covinr.or. ~
tuh c.ant in'ho o-aton oi Che sl.Dc a, She e. ri
+" ga NV De- m advisable or further cxten.f,n ,
"- eti.r or U.tt tlc .1sc % uud western dtv.tors ,
o. voter I1s toeails The dividing rIdr.. and
l MA1'm res fo.i o. alorcsl6, ls 4, c1nn,ctiog o.,
~ Hse ~, 'h' RESIDUE of land part OF the route
Doc the wc.tsfn water Huc from the eastern feo,,y "
n' thereof ip zoe moutn OF Kanavbn river a. r. u.
ti ~ ociing those oiowed by law on th. J,n,s az.
en and kanawhl canal snd ON tlo M'Adar, le5 80,
by tage' ne tolls allowed by Law on the Kanssb
he turnpike