Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1845-01-03
S39,67I SO


1t will fail strike any one who examines this view
Of the company's and liabilities that while va
Gus items OF the former umOrnng about thirds Of
the whole be rendered labe only pc.
nod, nearly all o the later be shortly demanded the
company though probably about one seventh of the amount
will not be required for considerable time. Not uOu
Die the Stockholders with calculations, is sufficient to
say that the above snir VI affairs leaves Of ab
lilies which must presently be met ard above the
sources which may be considered offset against them
oi about S6e,OOO This amount includes the nsalment
OF the States loan Of interest money required 10y Law Of
the last session OF the Legislature be paid The LIST Ju
y, l54i aud f." default in the payment Of which the
pany has received from the auditor OF public accounts
notice of motion for judgment in the circuit supc
d HenrcO and RchmJnd, 10 be made the LIST January
1t will be recolected that shortly after the las, annual
meeting, a committee of the stockholders submitted to the
Legislature an estimate Of the probable Of the
pany's finances the LIST November, 1874 which ncud
cd the payment Of instalmen Of the States loan Just
adverted TO- TINS estimate exhibited balance Of nearly
Sl5OOO III favour Of the company; whereas the actual
result shows adverse balance above Of 6S 900;
80 that there is deficiency, in round numbers Of $4,000
IN the actual, compared with the anticipated OF the
company. THIS aggregate deficiency, however. can be
very satisfactorily explained by the following circumstances
subsequently occurring, which not foeseon when the
| estimate made
lsi The falling short If the actual tolls Of the wear from
the amount then anticipated.
2nd. The Of the outstanding liabilities Of the
company over and above the nncipated-the DIFF.
hcuy Of exactly csmainR which has been adyerted 10
IN a former part Of the report.
3id ne unforeseen expenditures which IL found
necessary 10 make the line Of the improvement during
the past for additional works rccOnsructions and
Improvements Oi existing works and for extraordinary
repairs occaslOned by unusual disasters; which expend
lures could not be embraced the estac Of the expci
seS Of the canal and Of the general administration.
4h The excess IT the instnueni Of the states loan of
interest money required 10 be paid the amount pro-
posed, IN the estimate 10 be paid
The estimate w relors, justified by the circumstances
under which il mnde although subsequent events
unforeseen at the time, have brought about for different
result.
IL remains to exhibit the present financial diff.
eulcs Of the company and to suggest measures Of re-
| bet.
On the lstof January next there will fail due six months
interest on he guafaccd bonds and the common
loan Of state stock, and Fix months annuity to the stock
holders ~ the Old james river company amounting &,
about S5s,0OO which, with the deficiency Of s6s.OOO
heretofore slated. makes aggregate OF SIG 900 o liza.
bdes TO bo provided for, aud winch the company has not
m hand the means pfdscharRing. This aggregate Of liz.
bhues immed'st,y pressing includes only the first install
nent, third ii the stscs loan Of interest money
whoh fell due the lat July last and drs not include
The other two iustamonts; of which will become due
on the ls July next and the other the same date in
ihe year Following. Nor does embrace Il o three install
mcnts Of the ppfcbase MONEY Of the Richmond dock VIII en-
are already due, mr. the remaining nstaments which will
! foil due in July 1916.
Before proceed to recommend measures OF relief I
beg leave, in reference that portion Of the Liabilities
above stated demanding n more immediate provision
amounting 10 Sl260OO. remind the stockholders that in
the month OF February, 1892 tae directory ,ppied 10 The
legislature for loan 81 250 900 Of stock On pledge
d The eonpsny's resources This application made