Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1846-11-26


Tho Stockholders Of the James River and Kanawha
Company commenced their annual session Monday
evening last and organized by calling Dr. John Broken
brough. OF Bath. the chair No quorum appearing the
meeting adjourned until tho evening" when, mso-
ry Of the stockholders being present. in person by
proxy, the President Of the Company. wALrEk GwYSS,
Esq proceeded to read his Interesting and able Annual
Report, document which hope be able lay be-
fore readers in in the Of week.
In the meanwhile, take the liberty OF extracting from
IL, for the information Of the public, several important
facts.
Tho receipts from the canal during the last fiscal year.
ending on the 3lst OF October, amounted to
the sum OF Si7I.iss g.
While those OF the previous year were Is7Os5 so
Showing decrease in the last year OF S5S97 ls This
rssul, is attributed mainly the shorness Of the wheat
and tobacco crops and the consequent reduction Of the
upward trade.
The whole smount dsbursed during the year. for all
purposes, ordinary and extraordinary, S65647 but tho
ordinary expenses and repairs of the Canal and the
penses Of the general administration Of the Company,
amounted only TO S49.205 90. which, compared with the
like expenditures Of the preceding shows reduction
Of S65Ol %.
The scrip taken during year for tolls and debts
due the Company, amounts TO Sll 1856 46-lesvng still
outstanding, S7,4lO 25
The Of certificates receivable for docksge taken
in during the year 1922 81 leaving still outstanding
Ss,35I %.
The of the Company the close of the last
fiscal year amount Sl37,939 IS
And the liabilities to As APO 80
Balance of resources, 1919 %
But among the liabilities is General Hamions debt"
amounting TO S7440 90 which is considered " OF an
extremely doubtful character" and indeed nearly the
whole OF the resources" stated TO be OF such
ture that they rendered available for the
date wants of the Company; while, the other hand
the greater portion of the Liabilities" be demanded
within a short time
The Company will probably have to meet, within the
next three months, claims, including the January interest
its outstanding debt TO the amount of Sl0s,3l3 %
And its resources, which will probably be
available within that period, amount, "a Por-
hon of them estimated) to 57,765 &c
Showing deficiency of S50,537 81
"The Of this deficiency (says President GwynnO
may be found the unexpected falling off in the receipts
Of the year, in sundry outstanding OUTLAWS called for by
disasters, which, being unusual, be anticipated
AID in the necessity Of meeting, in the Of the year,
several expenditures in the shape OF original constructions
and renewals OF work. and the reduction
OF sundry liabilities, all OF which, 1t confidently
peced might be postponed until the The most
prominent Of these may be stated as follows
Falling of Of canal tolls, compared with the receipts OF
last year, Sl5.s97 Is
Increase Of outstanding tolls on Kanawha river 3lsl 81
one-hslf. at least OF the scrip and dock certf-
Gates, with the interest thereon, redeemed
during the year, ll,572 "a
Payment for purchase OF the Dock, with inter-
est thereon, 10 private creditors of the Old
Dock Company, 1859 &c
Payments account Of original constructions,
demonstrations and renewal Of works, aud
for extraordinary repairs. lO,454 "a
Total, S5O7ls l3
To this deficiency President Gwynn recommends
application TO the Legislature for loan 10 the amount
Of the the guaranteed bonds 1912 OOO which
will be due on tho lst OF January
The President discusses briefly and clearly the future
policy OF the Company in the proposed extension Of the
work TO the Ohio river; and without expressing prefer
for either Of the rival modes of improvement-ra
roads canals either Of which he deems entirely pracca
be-he gives estimate of their respective cost. To
complete the canal he estimates the addi-
tions cost Sl0,6lG960 90
Which. added to the areadye1-
pended, 5,7s99sO As
Will make the entire Sl6,406 94l "a
The cost Of Railroad from Richmond the Ohio, he
estimates, for single track, at Si5OOO,oOO and for
double track, $40, 000, 600.
The President urges the immediate completion of the
line from Lynchburg the North River, the
Of the Tideweier souhside and Rivanna connections and
the erection OF dam and lock the Kanawha river
The cost Of which is estimated as follows:
Between Lynchburg and North river, S64l 4s6 80
The Tide ~nter and other connections, 5O9,25l 81
Ranawha Dam and Lock, 10000 O0
Making in all SI,2lO737 SO
To raise which he recommends an immediate APP
phcnon the Legislature, for the creation OF new
pital the Of S,2lO,OOO, DE applied to those
purposes.
The Presidents Report referred to a committee
consisting Of the following gentlemen
NJ ne y.a @S;s1' s'.ro proxies.
Judge Edward Johnston OF Botetourt.
James Lyons Of Richmond
Sidney S. Baxter
Gusiavus A. Myers -
Joseph Mayo
James NJ. wickham "
George N. Johnson -
Fleming James "
Thomas II. Ellis
MI VIM. NJ. Peyton read to the meeting a Report an
his nhme the only Of the committee appointed
At the annual meeting Of stockholders to view the
line Of improvement who had been able to attend to the
duly. He had made a critical examination Of the works
between Lynchburg and North rvor-found them IN re-
markaby good Of preservation-nnd satisfied that
the Canal be completed the point within the
estimate Of cost stated in the Report Of the President
Of the Company Mr.. r. likewise laid before the meeting
estimate Of the Of tonnage from Boeiouri coun
~, prepared by committee Of It's citizens. Both Of these
documents we're referred to the foregoing committee and
the meeting adjourned until Thursday evening next.
~ We requested state that tho Southern Litera-
~ Messenger for the month Of December will be issued
tomorrow.
" The Boston Atlas that since the last trial in
Maine the House Of Representatives Of that State stands
thus Wings g. LocOs 60, and "a either not heard from
or no choice.
II Cold Iron - not tho only porous mineral which 20.
hdcians have Coal It feems, is to be
touched with impuniy. There he a township In Ponnsyl-
vunh Tor example, named Coal in which. last year. the
Wing candidate received and the Locofoco candidate g.
votes. This year the Wing candidate received 80 and
the Looofoco NONE
" The Kentucky papers inform that Chas. a. Wick
ill., sq the Postmaster General under Mr Tyler has come
n. I'll D. IA A.. ~