Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1847-02-04
jaime. River a Kanawhn Company

James River n Kanawha Company.
The stockholders of this Company convened aRreeaby
TO adjournment in the Hall Of the House Delegates on
Tuesday evening. quorum appearing, Dr. John Brock
nnbrough called to the Chair.
Supplemental Report from President Gwynn was read,
informing the Stockholders that the Committee appointed
nj the November meeting, mcmoralze the Legislature
touching the condition OF the Company for Ie-
gissuve aid to enable it prosecute line Of improve
men, had performed that duty and after roctng the &C
lion OF that honorable body upon the several bills which
had been introduced for the relief of the Company inclu
ding that pending, the fate OF which cannot be
tRnly foreseen. the President recommends that in the
OF its rejection, and the refusal OF the Legislature to
hford present relief 10 the Company, memorial bo
presented that body asking simply for an extension of its
charter (Which expires in May nsKt either indefinitely
for term Of years. He also recommends that a peu
lion be presented the Legislature, asking for the Com
psny authority borrow, the credit of the surplus re-
venue OF tho Dock, the required for the construc
ton OF new outlet lock, OF enlarged dimensions render
ed indispensable by the unsafe condition OF present
lock, which he may make necessary distant
period to suspend the of the Dock altogether.
The principal portion OF the Supplemental Report how
ever IL devoted to the consideration Of the complex and
delicate subject OF the Tols-the Encouragement and
OF which. in virtue Of the resolution adop,
I'd by the Stockholders at the Annual Meeting in No
vembor has created such intense excitement the limo
transported upon the Canal President Gwynn expresses
the opinion that the trade will be diminished and the re-
venue consequently reduced If the OF toll then d.
rceed to be levied, shall be adhered lie reviews the
experiments which the President and Directors of
tho Company had, from its organization till the present
time, roSorted Tor the purpose OF rendering the charge
ct transportation light possible, consistently with
their obligations to the Stockholders and the State and
aiycrts the very great difficulty OF arriving a, sasac
tory conclusion upon question. in regard wneh with
all the lights Of past experience here and elsewhere the
opinions % intelligent and practical widely aier
considerable reduction the tolls had been made by
the Directory on the 18Th Deecmbe., lS4l. waeh vas
followed BY largely increased during the wear
eadrns ire ST., o. oeiobel. lS45 Tas result which
seemed 90 eonh'm the reasoning OF the advocates Q: low
tells. iadleei the Directors N5yen5er I>I5 IN iheir
srSesv % ImPse a. sa; 5zrtasas possible On The uaas
g the Caaa- % consent 70 further reduction Bat
l asasd revenue followed, proving the President %.
the Company thinks hat TIE Board wen; step TO- Ar
Nevertheless, he does believe ne increased reve
nue. OF lei5 vas entirely owing :, the gcou Of 1874
the decreased revenue Of 1876 20 the farthe.
in ls45. The former in part a5ri.b.e 10 tie heavy
wheat crop OF that year the latter great extent
ascribabo signal deficiency the crop both Of whes
aud tobacco. lie recommends however, that the tar OF
tolls agreed upon in December ls44 be re-estabshed
with such notifications subsequent experience NAV
have suggested In this recommo ndation the Board of
Directors concur with this excepuon-thai in considea-
hon ct the low price Of tobacco the toll upon that
article which was - cents per ton per mile under the
iarh OF leiJ, shall be reduced TO cents.
After the RoPor, had been read Mr.. VIM NJ Peyton.
Of the State PROVES, moved that it be referred with
uie accompanying documents, 10 committee of 10 with
INSTRUCTIONS 90 enquire and report the Stockholders such
measures might be deemed eSpedient
T. ia.s resolution, Mr. Wm. II. Maciarand offered an
ansaneni, directing the committee to enquire into the
rr-rncy Of d.yesung the Company Of the authority to
presese the Of tolls, aud suuendeng It into the
hand. O. the LessaHr, II that body shall think proper to
exercise H.
on this amendments long and interesting debate ensu.
3D. n which the e1pedieney OF proposed transfer wa,
d'scls-ed-In the affirmative by Messrs Maciarand Elem
lug James and Thomas Price; and in the negative BY
Messrs. VIM. VI. Peyton, Joseph Mayo George n John.
5. 5 Baxter, Isaac Davenport and o. NJ Crutchfod
Mt James Lyons declared his vote for the re-
solution OF enquiry and courtesy TO the mover
whose opinions always entitled the hghes, respect
but expressed opinion the Time rse to the
"SPedency Of the proposed transfer Finally, the amend.
rejected by decisive majority; and the resolu-
ton, originally Offered, was then adopted.
Capt Dimmock submitted q resolution, directing the
Of 10 consider the following principo-iha,
in the adjustment, OF Tariff the tolls charged be ayersey
~ the distance travelled. Adopted
a resolution, submitted by Nh Lyons was then agreed
TO- after brief discussion, directing the appointment Of
committee Of FIVE, consider and report on the e1pedien-
cy displaying the Legislature guarantee the bonds Of the
Company 10 sufficient enable TO construct
Rail Road from Lynchburg ny the way Of Buchanan and
CovngOn, Guyandote-or, to suspend the lien Of the
Commonwealth on the works Of the Company, so as to
onabe it TO construct the rail road with means.
Dr. Bockcnbro1gh laid before the Stockholders CON-
muncauon from several Iron Masters in the Valley which
was referred.
me tpcp Of Nc