Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1843-11-21
COMMUNICATED.

Atu meeting OF the citizens of Buckingham, on Mon
day, the 18th November, being Conr; day, motion
of Colonel r 3. Palteson MAJOR Charles Yancey was
called 10 preside, and Robert B. Shaw, j, appointed
Secretary
The object of the meeting explained BY CoInneI
Patteson. Richard &. Morris submitted The following
preamble and resolutions which adup'ed by the
meeting; Also the 9Th resolution, offered by Mr.. +
Gooch The preamble and resolutions ably sup
ported by R. G.. Norris Esq, and Col Jos Fuqua,
and ably opposed by Major r. A. Boiling and Colonel
Thomas NJ. Bondurant. The vote taken after
sunset, when great number OF the people had left the
Courthouse, or the affirmative vote would have been
much greater. Upon the adoption Of the preamble
ayes 80, noes 23-and upon the adoption OF the 9Th
resolution, the vote ayes 4s 23-the oihsr
resolutions were carried unanimously, or by similar ina
jorities
We, citizens of the county Of Buckingham, feeling
ssnably the oppression caused by the unjust and f1>
orbitant tolls imposed by the James River ~ Kanrw.
ha Company, have assembled for the purpose of cx
aiming into the causes, and attempting 10 devise some
means by which we may be relieved from this unjust
burden.
We were led TO believe by the President of this
Company, when he addressed Us 10 induce 10 take
its stock, that not only the expense of transportation
would be greatly lessened, but that the Stockholders
would also receive liberal dividends. We were also
induced 10 sustain this Company, in consequence OF
the 44th section of the charter which provides, that
upon all agricultural productions, the toll should not
exceed p cents per ton of 2240 pounds per mile
Vain and fatal decisions ! Not only is stock worth
less hut the tolls tobacco nearly double that pro-
vided by the charter and wheat and flour increased
one third This leads US 10 inquire, 10 what causes
are 10 attribute these losses and burdens. ls we
believe that in the construction of the canal great
waste and unwise management occurred. To prove
this, will refer TO the location near Rutherford $
MILL and 10 the subsequent purchase and sale OF that
mill. The canal located above the mill, which
caused great expense in blasting through the granite
cliff and Ruherinrd's mill was so injured, that the
Directory then purchased 1t at upwards OF S22,O0O,
18th Report, page 560) and afterwards sold with the
water right a, about $4,000 Ii this mill had been
purchased in the first instance we believe that greatly
more than its cost might have been saved by differ
ent location Of the canal, and much Of the enormous
cost of the lower level (S5!9,547, for distance OF
little over mes) saved 18th Report, page 2ol.)
The agueduct at Rockish badly constructed,
notw outstanding The large amount it cost the company,
that it has twice partly fallen down. and expected soon
again 10 tumble Several locks ni'c. being built and
paid for, have had 10 be taken down and rebuilt al
great expense The dam at Tye River badly
constructed, that expense of $4,000 hes been IN
Cured TO il. The dams al Tye River and Joshua
falls built before the out fall locks and double
culrert at Ovens creek were finished, which caused
greatly increased expense for Golfer dams and ba'ilng
and pumping, which the reluent waters caused by The
dams rendered necessary; and great ncon venence to
The river trade caused by the DANG, boats having
TO unload, and be hauled the dams, and many oil
them ducked. These few of the items which
might be enumerated but considered sufficient 10
prove wise and waseful mauage bu, If
Of these could have been referred to- the fact that VI
Cabe in his printed speech delivered in Richmond,
(see speech from p TO 49, proved clearly, that the
James River and Kannwha canal ought to be construct
ed Tor SlT,4o2 per mile and this not from mere con-
lecture, but the absolute cost Of the Chesapeake and
Ohio canal next above fiarpers Ferry 1t is true that
the President endeavors TO account for the increased
cost, by the rise in the price of labor, but this cannot
avail him. as The locks in his estimate expected to
have been constructed of sone whereas they have
been built OF wood and stone, not half costly and
this saving is fully equal to the advance in the price
of labor such contracts made subsequent to
the rise.
We believe, 2dly that great waste and unwise ma
nagement occurred in the financial Of this
Company. To prove this, wish TO refer 10 the ne
glect OF compelling the stockholders to pay their in.
salmen's as they became due by which neglect n
very large amount has been los.-bv shaving their
Richmond City bonds, by which it is believed, that al
least $50 600 were wastsd-by paying attorney and
his ST eco GO for specific services, doc. 69 of
session 1892 Notwithstanding he received an annual
salary IS attorney FOR the company-by carrying the
assessors with an attorney, &C. 10 assess damages al
considerable expense, when but little was TO be done,
and that little might have been delayed i4.h Rep. p.
1913 and last, though not least the management Of
the 81 900 loan, which requires more extended
notice.
The Legislature in 1889 passed n law, auihorising
this Company TO borrow 81 500 900 and pedgng the
redemption OF the principal Soon after The passage Of
The law, it is believed that the whole amount could
have been borrowed. our Minister at the Court Of
ST. James Ut IS beiieved) gave notice to that effect ;
but the golden opportunity lost never returned, and
Afterwards many attempts made and faed but
notwithstanding these MISUNDERSTANDING the
unfinished state of the canal below Lynchburg, the
Directory proceeded TO put under contract the works
above Lynchburg.
This meeting regards this measure at The time, and
under the pressure Of the pecuniay difficulties of the
company, of the capital of the President
and Directors the loss By il of not less per
haps than halt million of dollarsthe pressure 1t
ated on the finances Of the company, at lime when
had neither money credit, kept up in the mind
OF the public constant sensation Of uneasness and
inquetude. But as the public mind, rs if by general
consent, seems to have considered it, and the
committee goes far regret the step, this meet
ing conceives it needless 10 dwell on t-or the po
sye instruction of the Stockholders, IS Rep. p. 35G0
that the President and Directors govern themselves in
letting il to contract "wiih due regard the State of
The funds for the time being, and the ability of the
company to meet lis engagements or on the juslica
ton of the page 362 of his report where
IN It stated that at the end of the fiscal year 1882
just after the work let that the ssbalance Of
sources, applicable when realized TO the new improve
ments of the company, was 81 1872 1863 52'-nor the
sincere regrets of the President on 10th Dec 1882
the moneyess condition and depIorable fix, to which
his mprovdent zeal had brought the concern
which he presided, (see p. 1873, 9Th rep) On this
caslon we pass 1t all by.
In April, 1910, Genl Hamilton of Texas was APP
pointed agent, and entrusted with 500 900 of the
companys bonds, without any security w,atever he
proceeded To borrow SI60 000 Of which amount Si00-
900 RENTED to The company, and 900 he re-
tanned for his own use, 18th Rep p 1872 or applied it
TO The uses Of Texas; and "hypohecales'' the whole
$3.50 COO part Of which has been redeemed by the
Legislatures aiding the company with s2500OO Of
State Stock the other part sti remains in Europe; and
had this assistance not been given, the whole must
have been lost 1t is true, that Gen. Hamilton jus;i6es
himself the ground that he had written TO Pre-.
sident, offering the use of Texan funds which were
not efused and that the President ought no; TO
plain, if he afterwards used the funds OF the company
for tue benefit of Texas But, Notwithstanding Gen
Hami'tons NEUTRALITY-SUSPICIOUS. he used
100000 of the companys funds, whether with with
out the Implied assent of The Presdent on the 20,h
June lS42, he is reinsaled by the Directory with full
powers and resolutions approving of his conduct for
@arded to him. and published in the newspapers, (see
Wing of LIST July, 1s42) We think we have fully
proved the wasteiul and unwse management. of the
finances Of the company. The same wasteful manage
ment seems TO be continued in the manage of the
canal, for the superintendent are furnished with pack
els and servants and horses necessary appendages