Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1845-12-11
Meeting of he james Riper and Eana.oia Conpa

ny-Annuo, Repor ofthe Prendenf.
Tuesday night the James River COMPANY as.
semb!ed in the Senate Chamber (the Hall ofthe
House. being occupied by Democratic Legsla.
tive Caucus.)
The room was filled with highly intelligent
mass Of citizens. Colo. Saml Mcdowell Reid OF
Rockbridge. was called 10 the chair, and w. y.
Chitten den, Esq, and Ro. T. Lynch Esq, ap.
pointed Secretaries.
Mr.. James NJ. Wickham soon after the organ.
izstion Of the meeting offered the two Resolutions
which follow, and which were adopted, mem eou
81 Resolved that the Secretary report to this body as ear
by o. can be conveniently done, what proxies returned
the COmpny's uico stockholders to whom ercu-
Jars had been addressed from the ofce and the
proxies were given.
2 Resolved. That the Secretary report 10 the meeting
The names Of oil holding proxies and the
number OF proxies held by each"
These resolutions understood strike at practice
which cannot but be regarded pencous and destructive
Of Independence, 10 wit tho monopoly. by The officers Vi
corporation Of tho Proxies OF distant md unsppri.ed
etoekh,der for tho purpose Of controlling the votes Of
Sb,eni Siockh7l-. s5voneo The purposes and p
reests Of the ueeJs the nseves. The prineple indie
tenstle even in pfseuce il be abused 10 which Of,
must Gee. 1t Is extremely isble, We say not tbs. il hs.
been abused, but that 10 may be- and therefore, ought to
he suppressed altogether
NJ. Prssidsnf cGLsH then read his annual tepor urn
pying Two hours in the delvoya report wonderfully mi
mute dCesed evidently with great deLJerson and tr,y
all o thought, and highly able sustaining the ,1eiusis.
idea which appears to occupy the mind Of IL,
authc'-nnmey' that on given route equoy accessible
eseh the Canal transport produce cheaper ,han the
Ro Road. THIS ~ feet the single Argument by which
Cahss cen be supported sgsnst steam and the President
made the Eosi vi IT, lie stOugh bear upon u an immense
haHber Of dnta iaboOusly collected and sustained at
side Of the question A. well perhaps the wrons eide II
bay question could be maintaincd.
ur Csbel mode impression bot It was obyiously
dssgasi 10y the onpneston, not by any elaboration
~ bs argument the other side, by Mtssr Wickb,u,
snj Msefaflsnd. Thst argument /. the .rgsryt p,oJ,
hstHsss 81 Re- Roads, through toe groatnsKlaustbs AMI
rVet increasing source Of Gars which Canals can u,v,
mmsnt, ani Jo aspire contend for against All
adsi But Ibis uaye rehsneo fo Revenue is more
thsn oqes 10 all otter reianees pp together. How then
that Improvement which takes travel comptts IN
pfod5Gveness With tho other which takes oil the tfsye
WHIST doesh svsi tlats CsnsI transport lumber or 10
baeeo OF heavy srucess e ehsups II VI the winding no
Of the 3st Osobsr o, dsynsuated tvt the
Rad Road he's paid esafa the sctu,, cost, b
sac Csnsl hos throw itself kneo. and bsseech ia,
Legislature piy 80 interest," 10 prevent fepudiuo
LET u, simplify tie idea htde Suppose th, Cam. cos,
million. snd suppo'e thsi the Rs Road costs 10 rillisns
sappo.s farther, that the Canal instead Of paying Der
eentsm ihe investment, bss annually ask tho LsRss
obligations credt,fs While the Rail Road
pays It's wsy add the 5ato per contum7 Which
a. the costly Improvement We submit 20 tho gofd
Of tho peorle II the Raj Road returns per csnr
the sSpenditufc, srm ito DO dsJf At oil " he
Canal % sr from psJns interest," has to be endiesnt On
nssy 70 get he interest the million paid by tie State
e0niead. that "a RepSnBs pTodueteeH,ss H 49, dead
Isss
Lshbs observed too that tho Raj Road % we'll ~ IN.
csBs, snswsr' oil the purposes Of Communication aad Of
C0mmsfes.
Thsfe eco BE- no earthly doubt that taking ~ must
oil the u.yel, the Rsrosc 10 the cheaper improvement
even ate mssh higher eonsuOepsa cost BstIbis apart