Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-02-26
LEGISLATURE OF VIRGINIA.
HOUSE OF DELEGATES,

. The following explanatory statement, from the Jane
i.,veT and hanawha Company, which was presented BY
Mr.. DoRNsN yesterday printed and laid the
S tables OF the members this morning:
IN Explanatory Saftmeat NJ tie President md Direc
tors % The Jamcs Rtrer and hanamha C0mpany IL
- relation 10 the .agsncy Of Gen. James hmi'ton
! 10 the GENERAL ASSEMBLY VIRGfNiA:
The undersigned, President and Directors Of The
, James River and Kanawha Company, respectfully re
present.
That, since the presentation of their petition asking
The aid OF the General Assembly, they have received
further information touching part of the guaranteed
bonds placed in the possession Of their agent, which
they deem II their duty 10 communicate.
by paper forwarded TO them from General Hamil.
ton, purporting 10 he contract between him, the
agent of the James River and Konawha Company, and
a banking house in Amsterdam, bearing date the 25th
August, in the year thousand eight hundred and
orty appears that the bankers agreed to open loan
10 General Hamilton, as the agent of the company, moi
exceeding one hundred and thirty thousand guders,
Tor period OF one year, for commission Of two and
halt per cent tor negotiating, aud al interest of five
per centum per annum, upon pledge of the guaran.
teed bonds OF the company 10 the amount OF fifteen
thousand pounds sterling. For the details Of which
contract reference may be had the contract itself in
possession Of the company.
+! The undersigned learned from General Hamilton
that the whole oil this loan amounting to about fifty
thousand dollars, taken up very shortly after the
date of the contract, and applied chiefly the
ot the Texan Government, IN the full confidence that
"
amount, would speedily be consummaled by him, from
the proceeds Of which, the money obtained from the
bankers in Amsterdam, would be replaced and the
bonds Of the company redeemed but that in this ex-
pectation he has been disappointed by unexpected
and uncomfortable events; though lie ye, 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 indemnfying
company, the first bearing date the ls Of Septic mbe
LII al tha1 Ea ,ba
third dated the 18th January, 1872. They intended
TO give TO tLc company lien on General fIamon's in
erest property to very large amount in the States
Of Alabama, Mississippi, Georgia and South Carolina
the whole Of his interest in which, after deducng prior
membranes, estimated by him at eighty five thou.
sand seven hundred md fifty dollars
What may be the ultimate value Of this security, the
undersigned have means Of judging. II is obvious,
however. that it cannot be relied upon furnishing the
means of speedy relief they yet sufficiently in
formed Of the circumstances attending this transaction
with the house at Amsterdam, TO enable them TO obtain
satisfactory advice 10 the extent of their legal iabli
ty for the loan of the right Of the banker sell the
! hypothecated bonds.
The fifteen thousand pounds Of bonds thus accounted
for, added 10 the hundred and eight thousand
pounds supposed TO he in the hands Of Morrison Sons
x Co. Of London, leaves yet unacconnted for eight hun
dred pounds of the bonds placed in the hands of &C.
neral Hamilton. This, it not earlier explained, they
have no doubt will be accounted for the Of
they informed Immediately upon his arrival at New
Orleans from Europe.
JOSEPH {. CABELL, Presideat
JOHN A. LANCASTER,
TIIOS. NJ. BONDURANT, | n 49,
RICHARD SAMPSON, fD'e'"'s'
CORBIN WARWICK,
Richmond, February %, 1912
A communication was received from the Senate an
nouncing that they had passed the bull entitled act
concerning Jno. Throckmoron and others, with amend
ms yhch agreed BIZ the House. y also that
they had disagreed 10 the resolution for the survey md
location of road from Clarksburg in Harrison, 10
where the Stanton and Parkersburg road the
Buchanan river.
JAMES RIVER AND KANAwHA COMPANY.
On motion of Mr.. ToLER, the House took up the bill
authorizing loan Of S25O000, the james River and
kanawha Company. The amendments proposed BY
the Committee we're severally agreed 10.
Mr.. CErTcHFIELb moved 10 recomnrt the bill with
instructions TO modify the same so as to provide: FIRST
that the proposed loan he applied as to redeem the
guaranteed bonds pledged to Morrison, Sons q Co. OF
London, and also those said TO be hypothecated with
mercantile house in Hoand Second that when said
guaranteed bonds to the amount OF S2o0,0O0 are re-
deemed they shall be delivered 10 the Treasurer of the
Commonwealth 10 be by him cancelled in lieu of the
State bonds of S250000 loaued Third that the balance
Of said guaranteed bonds shall be applied to the redemp
ton of The scrip or post notes Of the Company outsand
ing; Fourth, that the Company be prohibited from ma
king any further new reissue OF scrip or post notes.
Fifth that the bonds of the State loane shall not be
pledged pawned, or hypothecated, or otherwise dlspo
sed of except by bona de Sales in payment OF debts
due from the country and that the said bonds shall not
be disposed of at less than their par value unless BY
authority of the Board Of Public Works. Srh that no
new enlarged contracts for the construction oil the
Improvement be made until authorized by the Legsla
ture; Seren that the President and Directors of the
Company be made responsible Tor the fulhlInent OF the
provisions Of the bill.
debate ensued, in which the amendment was sup.
ported by Mr.. CnurcnrIELp and opposed BY Alessrs.
ToLER and DoRMAS.
Mr. HAsKIss moved to amend the instructions as
to require that before the bonds shall be issued the
pany shall satisfy the Board of Public Works that they
have entered into bona fdc contracts for the construc
ton of not less than three dams between Richmond
and Lynchburg for the accommodation Of the trade Of
the South Side of James River.
Mr. HAsKINs at the suggestion Of Mr. CRuTcHFIELD,
withdrew his amendment, giving notice that he would
it amendment 10 the bill when reported by
the Committee.
Mr. DAylrL, referring 10 the elaborate statistical ar
gunent entered into by Mr. Crucheld hoped that the
House would consent to lay the subject on The table, TO
give time yndicate the officers of the company from
the charges involved in the statistical statements made
by MIR. c.
The House refused to lay the table.
Mr. CApERToy renewed the motion to lay on the ia
BILE and appealed to the House to give time TO rebut the
statistics Of MIR. Crutchfed. The motion then
agreed 10. .....,.....,o,.
The order Of the day being JOINT resolution offered
by Mr. Irving, for the appointment of Commissioner
receive the Stale proportion under the Distribution
act
Mr. HoLLApAY proposed 10 amend with a substitute
declaring the distribution act unconstitutional, and IN
strucng our Senators and requesting our Representa-
tyes in Congress to exert themselves to obtain It's re
peal.
II being late in the day, MIR. HoILAp.r suggested
that il would be better defer the subject togve more
time for its discussion, and on motion OF Mr.. IRVING,
The resolution was mace the order of the day for Mon
day. ,,.,o,.
BY Mr.. kSsEr that leave be given 10 bring IN bill
assigning Judges of the Court of Appeals for
conference chamber the room now occupied by the
Committee Of Roads and Internal Navigation, and that
the present conference chamber be assigned to the
Committee of Roads and Internal Navigation.
The SPEAKER laid before the House communication
from the Acting Governor announcing The reception
for this State of so copies of the Digest OF Paents
pre pared under an order of Congress.
BILLS PASSED.
The following bills read third time and passed
ame ndipp he relation the duties OF