Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1847-05-10
James River a Kanawha Company.

James River a kanawha Company.
meeting II The ssoekhoders Of Ihi. Company va
held 's oies. Thurdsy AFTERNOON last parsasnt
adjournment; bot he committee OF -, 10 whom the Ad
dess OF Psden wynn had been referred no, bspy mr.,
pared TO rePori fully. the meeting adjourned Fslda,
afternoon. o. which time Mr. Poyon chairman OF the com
mi,iee, mad. the following Report
The Committee n whom referred the communities.
uon OF the President and accompanying documents with
instructions to enquire into aud report such hey
NAV deem expedeot have had the under consdera
too, and beg leave 20 submit the following report;
The Committee being deeply sensible OF the delicate and
responsible quay o"nhded 10 them, entered uPon
charge with the desire To devise some an
upon which all the friends o Imptovcaent could harmon
ire. and which. esticanrg the company from its emb,-
rsssment would enable GO forward la its great und
taking with ptompmess and energy. The unexpected de.
lay growing out OF late greatly to doprcca.
ted, and the manifested BY the pubic NJ this IN.
'eHuPuon :" the resumption ct work, whose tardy pro-
gress has sesdy exhausted the patience and an, b. of
those who have embarked their the scheme which
has dsheaitcned ITS wamest advocates aud bshed to no
ineonsderabc extent the spirit OF public enterprzc is VIC
aware. natural inevitable. But At the same time
committee satisfied that the delay was as wise as
~ was unavoidable. The sctou cf the company
which blended the offices Of President and Engineer and
which was adopted from considerations oi economy aud
efficiency with singular unanmity received by the
community and the Legislature with such ndca
toms OF disaPprobaton make proper the esuma-
ton OF MAJOR Gwynn, upon whom the appointment had
been conferred, to resign the office Of Chief Engineer As
consequence Of this step deemed necessary to
pend all operations OF the Company under late ap-
proPriaung twelve hundred and hirsK thousand dollars
TOR the Prosecution Of the work until the Stockholders were
again assembled and had another opportunity Of indicating
the policy which would be agreeable to them.
Your committee believing that these manifestations Of
public opinion, whether well Ill founded, and more cs-
pecay the expressed dissatisfaction OF whose
generosity had infused Corporation all the vitality
which possesses, entitled and should
exercise controlling influence the policy of the Com
pany approve most heartily the conduct Of the President in
promptly removing all cause of dsconen They think too
that the same prudential considerations should operate with
the oooy o the Stockholders IN inducing them their
steps and adop; other plan conomsbc pub
lie opinion and the wishes OF the Legislature, whose good
will is the very breath OF their existence.
Your committee therefore, laying aside all predictions
took up and considered camny and dpassionaiey every
variety OF schtm and plan organization which was sug
ees'ed. and after due reflection have unanimously
Cured IN recommending the following buttons viz
lst Resolved, That so much Of the 24h bylaw ne
places the appointment OF the Chief Engineer of this Com
pany in the hands OF the President and Directors be sus
pended for this meeting TO be in full force thereafter
ID Resolved. That the salary OF President be re-
dused from $4,000 aud travelling expenses TO $4,000.
ri. Resolved, That the salary OF the Secre,ary be re-
duced from $4,000 TO 1900
All Received, That the salary of the assistant Clerk be
reduced from $500 $500
5,h Resolved That salary of the Chief Engineer be
$500 and travelling expenses.
In determining the salaries of these officers the CONF
mitee were greatly embarrassed from the difficulty ihey had
IN hnding middle path, which would stear clear equally
OF niggaIdy parsimony and waseu eGavag.nre course
which would equally avoid offending public sentiment on
the hand by exOfbani and unreasonable spend and
on the other leopard zng the faithful and scenu6c execu
ton Of the work. by employing agents sole recon-
mendaugn IN their eheapness. has been well remark
ed, that true economy experimenting the eNpe1
tuTe 10 the Object and that thing short of this either
ioiy or meannosS. With golden rule Their gu de
and sincere desire conform this standard your COM
mtee have adopted the scheme above developed IS one
avoiding al extremes aud less obnoxious censure than
any other presented to their consideration.
The propey Of the proposed reduction OF the salary Of
the President think viii be obvious when n i reco-
lecied iha, the present has to very extent
the Engineering duties and responsibilities the whole line
added 10 the peculiar and appropriate duties Of the
Presidency. whilst under the recommended these du-
ties viii ali devove upon the Chei Engineer nd thus
ish materially the and trouble OF the Presden,-we
tnuA Therefore, view OF the ghened abos and respon-
siotes OF this OH er there be division Of opinion
TO the policy and Justice OF the proposed reduction
As REGARDS the offices OF Secretary ana Clerk we nave
sscertained that one, altogether Competent 10 m the nm,
place be secured fifteen huadred dollars Der an
uum and We have no doubt that Clerk can b
employed ios thc slm iEd. Gated 10 resolutions.
The proposed TeductUns the comoe n.a,io Of tb.s
ofets, We sashcu, Dc made without adj cting m
the the sighssI the administration OF the Comnan
The salary Of the Chei Engineer tnoagh 80 much sIo
the suggested the ucnmgnicaucn- appended the
Pres0e Rts report and those heretofore paid by tine Com
2any yet &c believe vii be sctic 70 e5umard ~.
--ryees ct indvi1ral III him the pb e
c audience. based ou m4 year o. exp ret-
wale smaller sum would PROBABLY eolnm,ud lie s-
Eag uerf worthy 81 tie YORK To t,ryr -s
haz cI iae iavT -.t.raIye ore sure 90 l4t.c-
uG 1csrc n 81 r1 HuRur cCgrre OF clio yr-
eoacss, amounting fanny i'se commit W 10 lar TO
Tue sreOG- t,ie management, ausk toe Strc.
huiders have p" sse siaAt -Ou The uccess execution
% winch depends mucn "i yea. the cause u
improvement, aud in which - deep, wed the in
iorsts, the honor aud prosperity of the Comm
itself