Richmond palladium. [volume] (Richmond, IA [i.e. Ind.]) 1839-1854, 1843-07-15


our readers:
/ The undersigned being about 20 mike his
customcd annual visit the Eastern Cities IN
. prosecution Of his business. requested
and authorized hy the White Water Valley Ca
nal Company to ascertain tho prospect and pro.
priety oil their making a loan Of money in aid Of
the completion Of their cenal, and having gone,
attended that matter, and reformed, he no"
submits tie following
REP RT.
Knowing the incaiculohle importance Of the
completion If the White Water Canal to the Ma
,lonai Road, and seeing the great advantages CIV.
Ell the Company by their Charter the undersIgn
ed has never from the first doubted the entire
aud speedy success Of the enterprise.
| lie accordingly not only embarked a large u
IN amt of capital "a II, bat has uniformly opera
/ tel wlh the company IN all his business with
cordaIuy and without hesitation. Hence he has
given his most vigrlant attention 10 the subject
natter entrusted ia him IN his behalf.
Tho immense value Of our enterprise 70 Gin
clunat and the great interest taken IN the same
/ by the business and capitalists Of that city,
ia .inced me first TO open free and fuli commu-
MI a ION wish them. and through them have had
great fac,lities for opening like commun ton
with business utcn and capitalists in Baltimore.
Philadelphia nnt y. York and have thus made up
my mind "a TO the present true policy Of the com
pany. Those OF the company desiring II. can
see copy Of much Of this correspondence now
| in my possession. ! have very lItle doubt but
chat Immediate loan Of $4,000 more, my
10 negotiated IN Cincinnati or Philadelphia, upon
! he Real Estate and other unioubted security in
| the power OF the company to give and that too.
upon easonabe terms, But my opinion clear
that Such Il loan should not be made prior to neat
spring. aud whether IT should be done then or
DOT, viii depend upon circumstances, not upon
tie ability Of the Company TO effect such loan
here, for cf that | have doubt, and that too.
iupou most favorable terms, hut upon the fact
~ neither he conditions Of the Company at that
tune viii render loan desirable.
The charactcr of the company is at present so
good aud the integrity Of its operations thus far.
- so uudnubted, have been enabled on
account to sell IN the East Il large amount of tho
Stock for Merchandise very advantageous
terms.
! This Merchandise was laid in far cash. is
now arrIv iug ard can afford to sell IT ont a
cheaply for The circulation of the company "' 81
cents To the 81. rs any other Merchant can sell
Il IKE qaal'y of goods Tor cash. 'i'hts tntond
TO do, and expect to sustain myself well IN SO
doing, things now are
But how do things stand Just ahead. By Sep
temher pext, tho company will have tho Canal
completed To- Laurel, Ii miles more Of Canal
Wi hen be rendered navig bic, making upwards
Of - miles u all, upon which he Boats " III then
nc ruuniug. About tho same time, II Is conf
deutlv expected the Tunnel at North Bend will
be finished and thus " i'll be opened ~ Ohio, %
mules more for uavrCatIon, which will give US an
other ven! to the O0io RIVER at Cincinnati, the
great market Of this great valley and all the i'd
i4cent country. The crops Of Il IL year will ihen
he coming in. and the signs Of the times tell me
that produce, fnoncv matters, IN n word, the
IRE business operations Of tho country, are Look
lng mp most encou7aglngly. All the circulation
Of the company out hen added to that
which must come out upon the opening OF naNi-
gallon tn Laurel, viii he small when COM
pared ,yth Their real Estate, and then when II Is
recullertct that the tolls and Water
Slant increasing and M moons rderahlo absorb
ants Of the circulation, and TINT near - 10000 -
now and wall become due from Stakeholder. by
the first of March next: ! can have TO donhi
but that the character Of the company's paper
must he well sustained. and that she should rely
upon her own good deeds, ample resources End
good namo until that date, a: least before she re
sorts loan.
In the mean time after the complexion tn Lau
rol If the operations Of the company not TOO
driving, bat cautious AID firm. and mainly con.
81 centratod uFon he Line mp tn the ney, Feeder
above Laurel which IS some 10 or II miles fur
thcr and briggs navigation up to the immediate
vicinity Of this place the company will then has.
the vantage ground q etiect naly to dtssipate
any cloud that rise up before he most timid.
/ Let this course of policy be adopted and my
word for it rs n business man Of no lIt,e expert
ence ia this rountrv-the Canal will not only be
completed. for Of that have never had doab',
= ana that speedily too. bat The Paper Of the com
! pany by the lst Of March next, will he sough; af-
: ter wI.h avidiiy. About that time Stockholders
in particular If they will not look TO their inter
g est sooner. will find the Paper of the company,
:, and par funds nearly upon par. that they will
Il regret that they did not make their hay when
: the sun shone, If | may adage which Is
T. Interesting TO the most ct them about these times
e With the sure prospect ahead. the inducenent 10
stockholders and Others To gather up the pape,
Of the company and deposte II with tho compa
ny, whils they are giving at tho rate OF ten pei
u cent. per annum all such deposItes. is certain
lily very great. As said before, | have AWAY.
d had tho most abiding confidence that the company
= will accomplish their enterprise, and from the be
II ginning DAVIS operations has but tended 4
d mako assurance douhiy sure. | have found NJ
enterprise. West or Elst that promises be ter j
IL IS well. IN estimation. The Canal IS TO bt
| upwards Of 20 miles long; running up from III
n mouth Of The Miami on the Ohin. through thu