Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1845-03-13

On this pcs also. they beg leave refer 10 the last annus
report. ad to the memorial of the stockholders presenteS
nj tho present Of the General Assembly from whiel
II will sPPcsr that II the company allowed fund
present hosing debt amounting to S2S3 39l ~. and there
by 10 take up the outstanding post and debt
due 10 thu aud Others, discharge a
current rssenue. Its future revenue will III believed
meet the interest upon ia whole debt, aud In
able time by means Of small sinking fund.- discharge III,
principal.
Your committee deem il proper here to state. that a
an early siege IN the progress Of their
suggested by of the gentlemen who appeared before
men, ihot an agent had been employed obtar
proxies friendly to the president and dcctors aud tina
suen agent az agents had received OF h
f"nos OF the company. Upon this point however YOU
committee did not understand that any charge made
nor was spoken OF as matter within the personal knowl
edge OF the gentleman by whom IL mentioned
any witness referred TO from whom your committee could
derive Information the SUBJECT Very recently however
'hs matter was sgan brought TO their notice by the same
gentleman in the form OF distinct and witness
referred 10 BY whom said the fact could be establish
ed. ia receiving your COMMUNICATION yoar committee
tsoughi they had closed the examination Vt testimony and
were then engaged IN the preparation OF their report deem
ed u proper that tins should be investigated, and
understanding that the referred within their
reach they determined him Immediately
to .ppeM before them. The witness appeared ae-
cordinglS. and upon his examination stated, that
shS,uy preceding the general meeting oi the stock.
hoiaess IN December lsI3 he was EMPLOYED by
some agent Ut the company visit the shareholders ia
Richmond TO get them sppoin proxies represent
at the meeting that his instructions ssd the object Ut his
represented - a. 10 meeting. and obtain
proxies uehay D. particular the elcc
~ reelection ct officer; that slusoa made
any sueh purpose, lie stated that he engaged In that
service IN 1913 some three DAYS. and received pay
meni IN the check OF Mr. Chsnden secretary e the
company That IN like manner and under like ciErum-
Stances m al respects he employed and acted pre-.
csdns The general meeting in December last and
gagged seven DAYS at 81 day, which he also
&c payment IN the check Of W. b. Chjtenden. The
nitiSc thea examined Mr. Cheneen the secretary OF the
han he.t
euy IN procuring quctums at the general meetngs
great and dissatisfaction OF the Stockholders
who attended from distance and detained IN the city
ON that account This difficulty formerly gave
Peden OF getting stockholders appoint standing proxies
since tire change OF the law requiring all proxies
TO bear date within SIX months OF the the meeting
OF The stockholders required great his part
to obtain quoTuas at the annual meetings. For tins pur
pose wac NECESSARY for hun circulars printed
copy OF which he laid sefore the committee and herewith
ehhei,ed naFke g. 10 gentlemen IN the various counties
where Stockholders resided, enclosing blank appointments
OF PROXIES, ana urging them TO themselves pro-
cure appointments. IL likewise necessary for him
send reGnd 10 The large number OF stockholders
kiehnohd Tor the like purpose In doing he had only
gwen Instructions 10 PROCURE the appointment o proxies
order TO secnre meetag, without indicating any prefer
ehee Is 10 m proxies 10 be appointed and without refer
enee TO the votes that might be given by them. In De-
eembe: 1916 the city stockholders applied partly
by clerk in the Office and partly BY another person en-
ployed and paid for the purpose In December last not
being able 10 spare clerk, he had again employed the
same person IN the service and had paid him for IL
The amount which he paid lasiyear had been allowed by
the ooafu as proper contingent expense the general
meetings, and 1t his intention apply for the allow
snce OF what he had recently expended aforesaid These
two Items Were the only expense TO the company except
in-he Of postage, which had ever been incurred in
getting up the meetings oG the Stockholders. Mr. Chit
;endsn stated ;ast the employment OF a special
agent to obtain proxies, well in the other steps
taAeA oy in to secnre quprum at general meetings. he
had acted without instructions from the president and d
FeeoTs, aud under the belief that he dischargny the
appropriate duties OF his Office.
lou! committee therefore Of opnion that the
aforementioned Is entirely groundess.
Your committee would here specially beg leave
TO give uiierance 10 few general considerations suggest
ed TO them by the investigation which they about 10
close by their report remind the leg stature of Inc
past versatile course Of legislation subec, Of internal
improvements Ia the state and especially pa
ueular improvement IL fret n Joint stock company
then state work for few years. then lay dormant
several years and finally tho present company organ
Izef, oy whose energetic march amidst difficulties of no
ordinary magnitude and throughout period of financial
embarrassment and distress almost without parallel
hundred aud ioysix miles canal have been constructed
winch 1t s believed will not suffer by comparison with
saier Improvements IN any part Of the Union. II is be.
evet that the company has s head agents who what
ever may have been their Of experience the com
mehcement OF So great an enterprise efficient and
competent officers and that organization is now syste
matte and complete Ia the administration the compa.
n.y. not one taTtug has been lost by the infdey OF
OF its regular officers, although between five and mil
lions OF dollars have passed through their hands, and your
committee hope that they will be regarded going
beyond the duty assigned them when they venture respect
fully but earnestly present consideration OF the
general assembly the impnliey Of disturbing such
gan'z1ton, or OF doing Sughi which might tend the
disarmament OF such officers for unr-d and novel
systems Such experiments rarely result otherwise than
in mischief
Your Committee cannot itier themselves that in IN.
preceding report they have dons full justice the very
extensive and highly important subject which they have
been required investigate. Called upon make this in.
vesngauon during the OF the LEGISLATURE mas been
their fortune 10 oil the and inter
ruptons arising only from the ordinary business OF
gisaton, but from the consideration and discussion
the very exciting topics which have recently engaged
the attention OF the two houses Of tao general assembly
The difficulties thus thrown in their way your committee
have endeayoured 10 suTmount by long and frequent
sessions during the hours when they required 10
attend one or the other OF the houses and by proac
ing their investigation TO the latest period which IL
could be extended enable them report end
presenting TO the consideration Of the general mby the
results at their enquiries in the form Of the report which
now submitted land in which they have unanimously
curredl your committee have the consolation 20 Teteci
that they have at least endeay cured perform tile aIduous
duties which have been imposed upon them, laborously
and zeaously md with single eye the great interests
public and private involved the subject with which they
| have been charged.
lro BIZ Continued