Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1843-07-20
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A writer the yYhT OF Tuesday hes "a be presumed
uainisnuona) presented an incorrect stsiement an relation
10 the late negOston between the President and Directors
ofhs Louisa Rail Road Company and Committee Of the
Board OF Directors Ut the Rchmond, Fredericksburg Po
tomae Railroad Company. Having large interest In the
prosperity OF the Louisa RAILROAD have been induced tn
enquire into the facts Of the and find them be fol
lows The Louisa Rail- DAD Company having decided
their annual meeting June that they would accept
OF the propositions of the X. r. T. r. X. Co. for doing
their transportation for proportion 1T their receipts, anho
Ized their Board at Directors opon negotiation
with the r. f. 4. X. r. Co. basis deemed more
Just and reasonable than any OF the specific proposals pev
ousy made by the X. T. & T. r. r, Company, and in the
event OF failure into dcnye contract oi
saacory nature propose and agree reference OF the
whole subject the decision ci the Board OF Public Works.
other competent and impartial arbato In accordance
with this resolution. the President and Directors ct the ou
RnRoad Company made, the list instant, TO the
Committee appointed by the Board OF Directors of the r. f.
T. r. X. Co. proposition that they should make con
tract for doing The transportation the Louisa RAILROAD
term oiyears the basis OF actual cost proposing TO
pay the interest $4,000 supposed additional capital adj
Judged by them TO be employed ON the Louisa kaikoad-
To this proposition the Committee ct X. r. n 7. Rail
Road Company proposed substitute, adopting also the
basis OF actual cost but requiring instead OF paying interest
that the Louisa Rail Road Company should furnish S20
900 OF the capital in Locomotives, Cars &c. required for
their business their road; this the Directors OF
the Louisa Rail Road Company replied "that they could
not acccdc proposition furnish part OF the
the transportation onthc Louisa Rail Road,
I" but IT that part Of the proposition OF the X. r. & =.
Go. was Withdrawn, they willing, in obedience To
the resolution of the Stockholders To refer the whole sub
"eet OF for doing the transportation the Louisa
Rail Road mot Including the furnishing any part Of
the capital By the Louisa Rail Road ConpaAy) to the
award OF the Board OF Public Works, any other i'm
partial tribunal be agreed upon by the parties for their
determination" In reply, the Committee of the r. +.
T. Co. state that the basis Of the proposition submitted
by them being, that the Louisa Rail Road Company should
deay the mere cost OF each item of the expense OF
portuton ON Its road, they pruprety in the
Louisa Company furnishing least portion OF the
pial requ for doing IT, that they therefore with
draw that portion Ot their proposition and refer the remain
der OF IT. but that they are perfectly willing to refer the
whole proposition either the Board OF Public Works
the Second Auditor OF any other impartial arbitrator
arbaios with power TO review and modify every item
OF IT, rs on investigation OF the subject they may deem
10 be Just and reasonable
Now all this certainly very different affair from the
representation made by the writer in the Wing OF Tuesday,
leaving TO be inferred that he either grossly msnomed
or has other end than in with
the stockholders generally In either you willdo WELL
all OF you who to attend the meeting OF the s,ockho
ders ON the LIST August, you cannot, oud advise
You earnestly 10 gave your proxies 20 having real
aud substantial interest in the Company, and collateral
ends Ia answer. l. for one the wisdom of eN.
pending $4,000, and foregoing all prospect of any diy
dend Tor an indefinite period for the pleasure of doing
transportation ourselves when by furnish ing $40 900 Of the
capital necessary for it, have done by the r. f.
T. r. Co At its actual cost, and when is confessed.
on all hands, that they effect 1t not only much
eheapy but much more satisfactorily the planters and
mers using the Road than can Indeed, should fear
even II tbs travel unimpared by severance of the
companies that transhpment the junction. and divided
responsibility would necessarily lead great dminuon.
not TO total destruction of the trade of the Road.
ASTOCkIIOLDER.
T. 81 find enquiry of the Treasurer of the r. f.
T. X X. Company that the whole amount OF the funds
OF the Louisa X. K. Company the hands of that Gem.
pany Is something less than thousand dollars
which we receiving interest," and which, lac is prepared
at any moment 10 pay certainly prefer myself
rtservng this fund.- in order that the Company may all
times be independently dividing and from the
proposition of the H. +. x Z. r. X. Company being OBJ
Iccuonabe because prevents dividing this
among Stockholders, in the OF renewal Of
arrangement with them, Is for that ccepube
heir
eNceptionable IN every way, might be otherwise
future occasion, and should then have the means
do not divide funds Of taking of ourselves
am for renewing arrangement with that Company be-
cause believe their proposition fair one, and that il Is
clearly Ia interest 10 embrace IT, but also for keep
ing ourselves under all circumstances in independent
position. Again let beg of all and each OF you attend
the meeting the LIST August and let your
ess set aside 10 answer prcJudiced private