Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1844-12-19
Che zpmehb,irg yir0imiam.
THURSDAY. DECEMBER 10. Is44.
EDITORS CORRESPONDENCE.
RICHMOND, December, 10, 1874


annual session last Saturday night within few minutes
d 2 o'clock after the most protracied and interesting
meeting held since its organization. The discussions
throughout The week animated, and occasional y
very spicy touching both the management and the iu-
tufe policy of,he Company They grew out Of the res
oluons of the committee Of thirteen to which the An
nual Report Of the President had been REFERRED and
which had been reconsidered and considerably modified
after the date Of my last letter. in which sketced the
outlines Of The propositions then supposed be settled by
that committee. They proposed first, application to
The Legislature for loan of s., 100000 enable the
company firm the long deferred connection between its
works and the Ryanna and South side, and to extend
the line above Lynchburg to Covingon, working stimuli
ianeously from Coyington eastwadly and from Lynch.
burg wes,~ady; and secondly, in the Of the reec
,ion Of that proposition, that the Company shoud cease
its operations at Lyncbug and transfer the western
portion Of ills line to the State be carried on as State
work. STIMULATING at the time that after the compe
,ion Of the improvement to Coyineto the stockholders
in the present Company should be entitled receive
dividend oil not more than per cent. upon their stock
To these Propositions Mr.. Baxter moved a substitute,
asking the gisalure to l,an the Company 1894 OOO
sum deemed sufficient 10 enable ii To connect with the
Soulh.sde and with the Ryanna, and to complete its
unfinished works above Lynchburg as far the mouth
ol North Ryei. The question was ultimately decided
in favor of Mr. Bakers substitute by vote of 1896 10
10 7l7-te minority consisting almost entirely Of the
vote Of The State proxies. Although the debate was an
interesting one, regarded of lime; for, in
the present temper Of the Legislature, do not think
tina, there is the slightest probability that either Of the
propositions will meet with favorable reception The
fact that the question of reporting bill to pay the inter
est on the bonds Of The Company guaranteed by the
State. was decided afma,ively in the committee of f.
nance only by the casting the chairman-a due,
lion about which there cannot be difference of opinion
as to the obligation Of the State, unless she Intends even
with surplus In the treasury, to repudiate,-s suf
clently significant Of the spirit in which proposi,ion to
augment The debt Of the Company. with the State en-.
d"rsemen 'hereuron will be received 1t is true, /,
conJec'ura estimates be relied upon the additional
revete anticipated from the completion of the works for
which this loan is asked. $50 600 per annum will nav
the interest nearly six times amount; but these es
Inmates, so often fatally iasifed by results, however
sound they may be in this case as based upon the pres
ent tonnage they would be entirely reasonable
and Safe, regarded with almost universal suspicion
and dsrusi.
In reference to the reduction Of Tolls the recommen-
dalton Of the President and Directors was approved and
authority conferred upon them hereafter re arrange
lis tariff 10 disregard the minimum average to which
they have heretofore conormed. As have already sta
ted, Tobacco and lion will hereafter be charged 81 in.
stead oia MIS- per ton per me Tobacco Stems 81 and
Flour and Whrsl2i, instead Of 8; Gypsum, Lime
Limestone and Mineral Waters half cent instead of
cent; Bran aud other Mill Oal. Buck hea, and Buck
wheat Flour, Corn and Corn Meal, Oas and Rye {
cents; Heading aud Hoop Poles. Laths, Slaves and
Shingles cent and all articles heretofore CHARGED are
reduced to cents Coal going down stream, is raised
from cent ,ol l.
The meeting adjourned without electing its Officers
until Monday the 9Th of January, when that election
will take place. Notice given that opposition is
contemplated to the present President Of the COMPANY
bu, the name Of his opponen, was not mentioned. BY
this adjournment OF the question: distant Stockholders
will have opportunity, if they think proper. to in
sruct their proxies in reference To that matter
On the last night of the session. there was an interest
ing discussion between Capt. Dimmock, one Of the pro
prieors Of the canal steamer and Mr. Cabe the Presi
dent Of The Company, occasoncd by a passage in the
Annual Report, in which it asserted that the action
Of the STEAMERS operated njuriousy to the entertainments
9th Canal, end inlimatng pretty strongly tina, to h.
be ascrbed some at least of the numerous
breaches that have occurred. Capt. Dmmock warmly
and orcbly Tepeled this attack upon the steam exper
meh and challenged, Gas he said he had freauen,l,
done belort. but in saih,) ah investigation by commit
tee of practical and dsn,erested individuals lie ac
Quilted Mr., Cabe of any individual hostility to t ex
pertinent Of introducing steam upon the Canal; bu, ex
pressed the belief that he imposed upon by the err
neons statements and inferences Of others who had
themselves given to the subject that personal x
animation hch could alone cattle their opinions to
respect. No action, however, had upon the subject
En- passnni-the new steamer Mount Ternon. which
differs very essentially from the Nc DoreH both in the
shape OF its hull and in the application Of the propeng
power, is now on the stocks, undergoing ianher
notifications. | am not informed al what time she will
probably be lnunched-bu whenever this may be done
do not think the eHerprlzng poprietors no have eS
pended So large sum Of money in endeavorng TO give
us the benefits OF steam navigation, should be forced ia
withdraw from the canal without the most satisfactory
proof that they remain without danger In the
safety Of the embankmensproof based upon actual in
speclion BY practical men, who have motive either to
'extennate or to set down aught in malice" Such an
examination is que alike to the owners of the s,eame,s
and 10 the Company ITSELF and more particularly As
Capt. Dlmmock expressly declared his willingness to
Withdraw the steamers promptly whenever he shal be
satisfied, by sach examination that the opinion of The
President and Directors is well founded
| | witnessed n ie bohts aoo a, ;,,,...,:.-