Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1844-01-20
FOR THE ENWUTREK.
TO THE STOCKHOLDERS OF THE JAMES RiHER AMI

TO THE STOCKHOLDERS OF THE JAMES RikER AND
KANAWHA COMPANY.
A member of your body begs leave to congratulate
you upon the rapid and almost unparalleled recovery
Of the affairs of the Company from lfe prostration
which marked their history but year back. The late
annual report exhibits the amount of 1904 999 Sd in
post notes and certificates Of debt af1oat the
first Of November lS43 and, also, that the amount of
5000 200, in guaranteed bonds, remained unsold The
bonds being al, above par, the one amount is
nearly equivalent for the other. II is further TO be
seen by the report that the interest the floating debt
is estimated at S32,665 2G against which may be
placed the tolls of November and December, which,
looking TO The previous monthly average, must have
been sufficient for the purpose
To meet the Bank debt Of So ,424 60, appropriate
such real estate remains unsod with the balance of
stock arrearages either of which sources, If realized
will be sufficient TO cover the amount. There remains
then TO be provided only amount sufficient 10 refund
to the State the interest paid by her for the year 1913
on the guaranteed bonds, amounting TO S7o22-and
recurrence to the past history of the Company will
explain how this may be arranged.
When but two years ago the directory applied to the
Legislature for loan of $3.50, 900, which sum they
STA ted at the time would be sufficient to eItrcae the
company from all difficulties, that body, in plice Of
accedng to their request in full coupled their action
on this head with reqnsitlon on the company tor
return 10 the Treasurer ofthe Commonwealth Of l00
900 Of their guaranteed bonds to be cancelled thereby
reducing their loan to the Of $4,000 Thus are
we now deficient about the amount actually withheld,
and if the Legislature will now but authorize The
issue and sale OF these bonds, the company will find
itself able to pay Immediately into the Treasury The
Of S97,S22, as above mentioned, thus strength.
ening the company, and at the same time aofdng
sona6le relief to the State Treasury by removal Of
the necessity Tor negotiating temporary loans 10 that
amount.
And now, supposing that what has been glanced a,
above will be consunmated, how stand the affairs OF
the company for the year 1914? Thus:
LIABILITIES.
nnnity 10 The old James River Company
for, ls44, S2l 200
Interest upon State loan Of S250,000, $4,000
Interest upon guaranteed bonds for ST.
100000, 10000
Annual expenses. repairs, &c, estimated at 900
$4,000
Against which, we have income from tolls ac-
cordng the present average, amounting TO S23Uooo
which will leave to US at The end OF 1874, surplus oil
S44 00O-leavDg out the water rents and any surplus
from The Western improvements, although perceive
from the report that sum has been realized Inc past
year from this quarter sufficient TO discharge the ba-
lance of the companys debt in Europe, amounting to
near 1000.
a sum much more than sufficen, 10 pay the interest
upon the capital required to complete the works at pre-
sent proposed The completion of these additional
works viii doubtless add $40 900 $4,000 to our IN
come, leaving Of view any improvement OF the tn
butary streams (Which will occur) along The line
Of improvement, as a,o such spring from the crea-
tive powers Of the canal by reason OF the low rates OF
transportation fer plaster, lime, &c, which must soon
be sensbly felt and witnessed through improvements
in agriculture along the entire line Of the company
work.
Again. there has been nothing like revival of trade
in Virginia since the canal was opened, as is evident
from the fact that The principal portion Of tolls received
during the past year. was derived from produce de-
scending the canathe return trade Deing very small
indeed
For proof Of this compare the receipt of tolls at the
Richmond toll Office with the receipts at The Lynchourg
Office and the amount will be found nearly equal, not
whstandinp the fact that the tolls on the entire as
cending trade and such descends from points below
Lynchburp together with all The tolls on passengers,
By means Of the packet boats are entered and paid at
The Richmond Office II is fair, therefore, to presume
that when there shall be revival in business, produc
ing ascending trade, commensurate with that AZ
present descending, the receipt Of tolls at the Rich
mond Office will than double the amount OF tolls
at the Lynchburg Office
Estimating the present annual receipt OF tolls at
$3.50 900, il will be unreasonable calculation to
expect increase of so per cent whatever general
revival Of trade shall occur throughout our State.
am not an extensive reader, but have either read
or heard, that il was a remark of Shakespeare, that
"there is tide in the affairs Of men, which taken al
the flood leads on to fortune. The remark applies to
operations alike with individuals. The present may
be regarded the ood-de in the affairs OF the James
River and kanawha Company. II II should De the
wisdom Of the present General Assembly To- apprecl-
it SUCH and profit thereby, the time IS not dis
ant when those patriots and statesmen, VINO gave an