Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1843-01-03

irons stnrn, winch cccurrcd on c Ih July las, from
winch Great iniary resulted 20 ;ic company ~ various
rlrils in the interruption y. he ae .sf cosidet"b'
nc 4; The buses; season o. e year ~ '!:e 'sl' ucoh
.: CROPS and Q.t .s %. tolls, ana u! '"s se'
,na e:uns;vc repairs iic w:rc NECESSARY /" ies'"is
M. WARTS of tie company t. usefulness From 'sse
ln c,.,r caaes aud u IS teieVtu '.iH7"t thJ i'e'
% tie par! o. IL company or IS ".isst>, 'ne f.tSe
e.,p!c4.,o- has becote necessity IL Is cch'iath-Y
believed tia; :he other proposed D. e same
cs,nt,o Of liz s:,c ki.oGess wi. Il ucccacd IL b. i;ie
General 4 sgE,5r, euae Tie company specify /" re-
niau:se 10 ;ic Tie @'ivauc, now asked ;"f ai'o
n.ey:!. c9actaai.y against he necessity oi s'i'ia'
| a pl cat,nu Tor ata hereafter e,
plan for reirE;:rs!a, the advance no." hshea io Az"
f cusu.inn The yent o The company 1uiy interest
end dividend debt 1t viii re F+coiec'ed That the ON
Gers OF the company during The last session 81 ine lie
stature previous 10 he passage OF inc ACT Oh inc %ot
Sj,-r e.:ir,a;ei ;a, the si al two hundred and lily
thousand doilos necessary 10 extiica'e ''e coia
nv from the eGiharasgge wien were t'eh pressing
uoon II. The Legislature accoEdineiy, at tue request
Of the Company ana ioF s feci, pl-;en ''s a's'"
sal unacr certain restrictions, 2oo,UU0, in SHARES CT
S,,,e s,ao up.u ;l.s condition, however, not cohtem
mated hv the company. TIA: on" hundred thcaSanc
dollars CT Tie guaranteed homes oil The company 10 es
redeemed from ie proceeds oi lie sale OF acse sa:es
Of stool; should te delivered 20 the Treasurer OF the
f,o;ro;v al. and e."ctiied ihGs III effect uugmen.
ny the yeso2:c, Of ha company to tile extent o"y
d; one hundred and cry Thousand dollars. II VIII be
Observed therefore ina: notwithstanding, tie disasters
o the oas. year and lie sigall amount oi tolls Collected
caring Tie year i. only asked now 10 angne"! Tie
avail h! resources Of the ccieany IN tie same extent
thought necessary ps It's rssi ycaF aEa a'id asked
m form which INSTEAD Of throwing any burGcn upon
the State, subracii':g any iAi"& HON as treasury
IL calculated 10 preserve lis a;i from disionoT anu u"
as interests from injury. In the course {" lhe year
49, perhaps in the ilss; bail oil tie year. if these pro
visions are adopted, probable that all The outstand
iar pcs! notes vi the company val haze l'en taken
up and canc' ej; tin, tie receipts III TIE compaay
iion lis tolls viii then be ~ money instead OF G'p'e
GATED scrip, and Ill place tie company at once upon
/ cn independent notlng.
The fifth provision proposes The establishment o 4
sinking fund ii o:c hall oi per ceai per aanugi, rfcn
the amount Of The conpa"ys permanent, tha! 10 sa,
Ms funded DEBT. Tie whole funded debt OF The com
pany including The estimated capital OF the dividend
payable to the ola James river company and The deb
10 The State Is estimated q, S2,l0o,G0G
And oue-.a!l Of one per cent, upon that
sum. is l0,50a
THIS s:nall annual reservation from the surplus IN
cnuc Of the company v;li vet ~ Sufficient 20 exiineush
lie whole pe7nanen; de,t IN to-y.lh.ee years. The
ya!cc OF sn:!1r iund consists IN lis speedy rcGac
tan Of the debt, btu: The certainty tia; the resources
o;;ie dsaiar snmaally Increasing, and that ,he all
~ etc payment is rendered meIe The stock
aireTs have a.-cld 20 THIS rs: and prudent Measure
and oily, c;on 10 II iiom aay other cu2.;e: IS aii'c
plte!.
The Undersigned canao, s,.!,eay repeat that IN the
! 80. Tor, The James Aver and haaa"iia Com
p,ny glands rron the ground whe. Ii occupied
when las, before the General Assembly. i!tcn asked
c aid tie STATE credit - the extent ~ t@o hugjTtd
aad iHy ;h1usand dollars. tic form OF lean OF State
Stock to that amount, anG ha! lie Company might re.
tain command al ali lis guaranteed bonds winch should
D. redeemed by o. that stock II that had ecen
done, he Ccn.:aY weu!t! rot be applicant :mr
lie assistance of The Legislature, notwithstanding It's
in,sortcara during e plS: year before menlioued r
With The ala of The ;;i00,Ga1u: guaranteed lords, 9th
use o. winch il deprived ~ Tie act o! f'areh last,
a. would .avc provided Coz te interest and d;:Genc
debt which il il unahe 10 meet. Daring ihe pas;
wear froin the combined ca':ses, lint iU0cJ3 Of ;ls
amount deemed necessary 10 free lie company IRON The
embarrassment OF pressing engagements, was w'thheld
,hl: The trade Of iha line, in common Will! ic business
eli toe whole country, was unusually Representation
the accidental interruption OF iha trade Tor cons eerabe
psrio and the cs. og crops and consequently Of oils
cduc-d ~ he great fresh o: July ilsi-irom TIE great
expense oihe extraordinary repairs rendered necessary
hy the same destructive sto.Gi-.rom the circumstance,
that nearly the whole oil the company was re-
rs post notes, not III rloney3ad lastly
l;oa the feet that Nil the property Of tile company
mort O. red 20 The S;9'e-ftom al these contned
the company was almost literally wi!hou; mont, aud
without credit: Il has therefore been sdnc.d 10 ia' ne
ces.y ealing upon the STATE pay the n:St CO jaGu
arr ns.a.e oint upon he ran,e ID bonds, and
OF prrpcs;fr :o! the sane, U se Commonwealth the
hest pi7n wha The company could Gcvse as the means
az cxtrtcaiGg Itself from liz enhaFrassmrnts without
loss o: burden the State. By proving 10 the wori,
the State Of Yi-r.na dncht viii, .!a, she viii Culh
her guarantee Of The pGuctcs payment al the interest
,r these bonds ncynnd ali capr!, III"
au.ecd bonds cf Tie company val! equal STATE stock N
:he market, and bo.n viii rise nearly 10 par. IL ~
uain therefore, tina, tie o the ts0n,HGG Of giar
an,ccG bonds nuw asked inr, coming III aid ot the IN
creased revenue for tolls certainly anticipated, II The
y-np9scd plan is adapted by the General Assembly, VIII
ai,,ra a,nae security for TIE speedy reimbursement
Of the January interest. a"d for the payncn, Of The
jiy interest. Aad ~ future II cannot he reasonably
loun;.d shat ben e toll: from This great WORK sh.
"a received ~ money, !hey vii be mere than sufficient
10 deifay all the annual ctaTgCG a9oa il.
TIE Undersigned beg leave also respectfully 10 pre-
sent Tie Legislature the consideration that the aid
no y soer,t is not asked ~. private purposes merely,
bot is in ,ru,h ad for pubic purposes, to be rendered
10 great public wor, The benefit rcu; which consists
in the increase Of the natons! wealth, aDd not
rching private citizens The private citizens @ho are
members c the company have thus FAR derived 40 pro.
Ct from their stock, bn. have expended more than two
aud half millions d doira IL constructing an i'm
movement for she benef, of lii. whale Stat"
The Safe has already derived both permanent wealth
nd apnu.i ;r5 & from ii.e work t:,e general adraa.
faces of trade i!r Diminished o. 90I:3on, Tie
increased vua "f ptoper:y ard the consequent increase
o.! feY,ue derived !.oui t:Xa'ina. "" ';e private
Stock ha'a.-s aie a - KIN 20 n?'oid and maintain
i;;:s cfea; g...c Improvement ~ the manner "hc!:
thrp conceive les; hu~fens";e 10 The Sta'e. w;o;;;
amv prospect Of pro.!t IL tI, ,Sa;vce, except what
may ba :vcd from such snrE,ns may remain
n}er :ecfaY:ar The aauua charges nGd expenses oi
cvery spr:, including the ne7esi and dividend d"5s
COR which the State bound ana The annual charge OF
the proposed sinking furd.
In c0nc'usi0n your inaiao-ia!is's sur-cs; that the
plsn proposed b; ;te company, ": c i; imposes
ncrcns upon ~" people o: The State VIII establish,
rroaaAr beyond he rcaci G; !si;u;e, WORK which at
an others most Gcey!e The interests of the
Common nraa; cherish a',d sustain Hhc' iii iHs
:r.,e Ter r"1-d cr tho me;c7r q her c'.i2@ns, ana
ra;ic ctao great divisions G; tie Stale by