Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1843-01-16

received irnm the agent. that The amount expended np /,
tue cnd oil November, ior ordinary repairs including 4
small amount Of outstanding claims wi be- Siasu; aud
That the amount of extraordinary repairs. consisting oi
l'ul dollars On account Of Gaulev bridge. and ab nj
5000 dollars on account Of the flood, will be aoout / sue
dollars.
4. hHa9cha Rircr
Owing TO the swollen state orlhc kanaNha RIVER, no
work upon II WIS practicable up to the mouth Of October.
III te latter pant ot the summer. whilst the ageni WIS
engaged upon the eastern end Of the rvcr. Mr.. Wright,
lhraSs'Slanl Collector. procured the scry ices oi an old
ana experienced hualmnn, and placed the necessary hnn,
on the river. During the month oi October a company
at hands vas employed III making improvements unn
EIk and Tyler slnals. At the former, the western wall
was raised tno leei throughout the whole leneil of the
siulcr, and VAS extended some distance nj the iaui. at
the latter, solne lafae rocks wurc cXcavalcd ftnl. the bot
tom OF the siuiee. M important work il new required
upon The tRef. and the condition Of the navigation Is
very satisfactory. =
am happy Ia have II in my power to siaio. that at
me last tenn ol the Court of Appeals nj I.ewi.bufp,
iiosllt OF tie Commonwealth against Dickinson \
NhrcW sburfy, relative 10 the RIGHT to levy tull4 On the
kataMla liver, alter a full argument heard IN iaYof al
no'h ,Ne rariies, "as unanimously declled in favor OF
the Company.
Fropot sels hayo deon taken 10 render this itmpattant
decision avallalie as soan as practicable, in the collections
ol The outstanding tolls upon the river. 1t appears, how
over that sone considerable time will vel elapse, be
lore these arrears can be recovered by thc COMPANY
ne teF'e" winch has now been presented Ia the
- '' N''' I"lNIlN OF ir company,
comrrohonds, inclusive Of The hnc ofl1 mile. nndn,sl,,i.
between lynehhnlg and tho mouth Of he North river. n
me CT Wolhs occupying an aggregate lenptl, Of 15o
miles. II would appear from The statements made. thai
with the oNeepiiono Of the - miles Just montianed. all
These Woths are NOW IN good condition, and are administer
Ing dally 10 the wealth, convenience aud prosperity of
the state. trust that the rrolrNIiy of The review Will
Ind It's apology In the high interest and magnitude, of
the subject.
ll@FiSGAf CONCERNS. -
l. ielcien Lon7s.
Immediately ar tHe adjournment Of Tho called meet
ne of the Sipckhallef, in May last. the murtgaee relni
red by the Ian Act uf the 18th March, ia. haviov
been ,>'coted Ia the STATE, asrtcably 10 tlcir order, tho
PRESIDENT and directors received from the Board Il Pub
ne works certificates lur the $50, eco Of Slate sloeh
authorized by the act 10 be loaned to the company. Al
llo same tiue the Directory of the company applied 10
the Board OF Public Works to state the minimum, limit
at which the stock mieht be sold. The Board Of Public
Works healiated Tor some time To consent Ia n lower
rate than - per cent hut npon representations being made
10 them that sales 10 any considerable amount could moi
be effected ct a hiaier rate than 90, they at lencth GS,d
upon that as the minimum limit nj which the stock
might be sold. a proposition was thcrcupun made 10
member OF the hnnse Of Morrison, Sons & Co. rsidinu
IN Tins county, 10 take an amount of The stock. sufficient
at ~ per cent 10 pay oil fl0.nOO fthcir debt, With n
view to the release OF the coo. COO of the company = sirr@
Ing bonds pledged with that house. which had so1e
time previously been lodged in the Bank Of virginia; but
the proposition was declined. In tho mem time. tbe
period Tor the payment of the semi annual interest on
the conn any $ currency bonds being near at hand. n fail
uIe IN which would have deeply affected the credit OF
company. the Directory. on due adyisenrnt sci apart n
p'f'I"n I'll llrSiaie stock, sufficient at the prescribed
ilInii 10 cover the foreign debt. and having done So. felt
authorized io apply the proceeds of the residue to the
interest delt and other pressing demands against the
company. Accordingly the proceeds Of the sale Of $50
J'J were appropriated 10 that purpose. Beyond la
amount, only &aJ33 Of the stoch could be sold Mt %. the
proceeds OF which were RENTED on account OF The house
Of Morrison. SONS * Go.
shortly alter the decision Of the banks 10 resume
specie payments al an early day. the sales at 90 closed
'niIfeIy. although the Stock continued 10 be offered aud
every effort 10 dispose Oil was made by the Bank off.
GERS and the directory Of the Company.
Early IN The snlnmor a proposition was made To the
House oil l'eteineyer. Nesllinph & son of Amsterdam 10
receive the amount oi their debt IN State Stock at 80 per
cent; and in the month Of October went To New York
and tcndcrcdtoAr Charles Morrison. oftlle house ,fhIor.
rlson, Sofs& Co. payment OF thcamount due loills house.
IN NtairSloek nj the saline rate. Both of these proposition.
were promptly declined. Immediately after my return
from New iork, renewed efforts were made BIZ the
ASHER of the liank Of Virginia. in the absence of The
President, by Jurisprudence with different Northern
cll'oS. To Elect i saie ol The Stock at the prescribed i'm
it, but Without success.
In the latter part Of Soyem'c or. however, Mr.. Charles
",'friSoo came 10 Richmond To press again the collection
oi the Gc51 due 10 his house. and offered 10 receive slnte
Stock in payment at - per cent, and at a RE nf eN-
charge ON London which would render the transaction
ucaTIY rs advantageous 10 the Company as n sale At %
would have been III the carly part Of the Summer. At
the date Of this offer State Stock in small parcels was
selling IN The city as low as rs to 70 per cent. The
Directory deemins ii all important to get rid of this debt
and obtain possession ofthe sterling bonds pledged fr
It's security, with a view to lesson the liabilities of the
Company, made application 10 the Board Of Public
Works for permission To accept Mr.. MorrisDn's offer,
winch alter due consideration was granted by that body.
Accordingly, on The 29ih November, n contract Of settle
mcnt of the whole debt To Mr.. Alorrison's house was Of
iucicd on the basis oi n payment in State Stock ut s.
per cont Jhereupon, MIR. Lancaster, one of the Di
rcctors, by request ofihe Board, proceeded to PhlIadel-
phia with the necessary amount Of State Stock and on
delivery thereoito the Agent Of Morrison, Sous & Co.
in that city, received from him sterling bonds to the a
mount Of f5S.Sae, and an order from Mr.. Nor
rlson for the fj0.090 Of hunds which had for
mcrIy been deposited in the Bank Of Virgin
IA. The result is that the whole of the s,cr-
ling bonds pledged with Morrison, Sons & Company
reached the office Of the Company on the 9th Of this
month, and were forthwith delivered over To the Ireasll-
rcr of the State 10 be cancelled, with a view To the issue
oicnrrcncy bonds IN lieu ofsuch portion thereof as is nj
lowed by law, tar the purpose of being exchanged for
the C%ompany's outstanding Post Notes and certificates
Of debt.
Z. Receipts and Disbursements for Mc gear and pre-
seht sfate Of The Gnanccs.
Ontho LIST Of December, lSll. there was due to the
fund OF nett revenue. derived from he old improvements
Of the company, aud from The new canal, a balance Of
S65,il6 G1
Add iothis, the aggregate receipts during
the year lust closed, for tolls on the
Nestcrn Improvements and new canal.
and for rents and other minor sources