Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1846-01-29
Sl.29I.24u 10
Total,

Total, SI29I24O w
Fourth IntsrroVntory. Can the company complete the
nal Buchanan, If the legislature converts the
debt into stoc1
Answer Yesf the legislature in the act converting
said debt stock, will release the companys mortgage
thc siate-wi authorize the company borrow the
necessary funds the cr,di of the surplus revenue on
bonds RAINING 30 years aud bearing per cent interest
payable semi snnuay-w require Of the company alb.
souie pledge to the bond holders, OF the surplus
nue. per cent interest," and TO be invested 10y
the treasurer Of the commonwealth other agent agents
to be specihed in the act sinking fund capable of
neushng the principal If the loan within the % years
and will extend the charter OF the the
Ct the bonds or, for less period will provide that
the event u forfeiture Of the charter PRIOR the
~ OF the bonds, the bOnd-hoders shall be made secure
Fifth lntenogaory. What time would be required
do lit I'M
The board are advised by the engineer Of the
company, that three will be required for compile
ton oil the whole work; but II is considered that the
ship lock required foot of the dock the sou:hside
and RrVanna sctions and unfinished works between
Lynchburg and the mouth Of North will be completed
in two years.
Sixth Inter- gatory. Ii the should make the pro-
posed release and conversion STOCK what dividend
can the company declare while the work Buchanan
in progrtosl
Answer. On the suppostion that the amount OF debt
converted is $4,000 900. increasing the capital stock
S7OOO,u00, IL which five sevenths will belong the
state and two sevenhs 10 the private stockholders and
that the will remain the above stated
with the additions expected accrue, the third yea
on the opening of the portions Of the work above
estimated that dividends said S7UOJO 900 OF stock may
be declared as follows:
Rate Amount S7ih. beIonto s7ths belonging to
OF Div. OF Div. State. Private stockholders
LIST year, u
per cent, sIO5OOO co $4,000 90 $4,000 90
% year, -, 500 90 1880 90 $1,000 90
Sd year, 10000 W 5O,O0Oy0O 10000 90
Il lie believed however the business Of the Canal will
increase during the three years, which would
make the dividends as follows;
Rate Amount s-7ths belong. 9Th. belonging TO
Of Div. NJ Div. to State. Private stoekbold,r q,
lstysar,lI
per cent. sI22.5OO 90 ss7 500 90 $4,000 90
% year, II " 81 500 90 90 500 90 rs 600 GO
81 year,l3 l22,5OO 90 $500 90 $4,000 90
Seventh Inierogatory. What number OF passengers
were carried on the canal last year
Answer The travel the canal was equivalent 10
1857 Through" passengers.
Eighth lneTOgaory. What - tire increase Of tonnage
brought by the canal Richmond, since the completion TO
Lynehburg beyond that Brought before the present COM
pany was established
Answer. The gross tonnage Of the canal for the
year lo45 without regard to the distance II was
carried, amounted tU, TONS 1871 ,759
The average gross tonnsRe OF the old canal from
1885 10 ls4O, inclusive with the exception Of
1888, during which the navigation cosedl
without regard to distance, was, tons lOl SIG
Increase on the new canal, tons 3O,I4s
The above gross Tonnage on the new canal re-
ducsd to equivalent tonnSge carried tho
whole length Of the canal, lac mites, gives
q" through tons 1888
The gross tonnage OF the old canal as above be-
lug reduced IN the same RATIO gives "ihroYRh"
tons 1921
Increase on the new canal, Through" tons II.i62
EIraet from the records.
w. B. CHITTENDEN Seey,fayv