Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1847-12-01
TO tho Stockholders Of the Louisa Railroad
COmnany. 49, ~
Company.


Having seen il announced thst the Bo.ra ~ ph
lie Works have refused to subscribe 10 the .,ok -
the company, you have right, rs doubles. vou
feel great solicitude, to know somothing more :,
bout this unprecedented decision Of that body. -
The Act Of Assembly is in the following words.
viz: .r ,,. tA3 s-i l0... .....t,. ,.'s
I'm .4ct prouiding for the Ertension Of the LI,,;..
RalrG'a 10 tie as''s En- base the Blue Ridge
l. BE IL enacted by He General .4ssesnblv. That
tho capital stock OF tho Louisa Railroad Con-.
pany be, and the same is hereby authorized 10 h.
increased the sum of two hundred and fifty thou
sand dolla!s, for the purpose of extending their
road to the eastern base of the Blue RIDGE incls-
ding the purchase ofthe necessary machinery there
for at such point as is suitable for accommodating
the trade of the valley of Virginia, having regard
not only to the facility and economy of approaching
the mountain, but also Of crossing it, aud to its u-
timate extension westward. IIyIrg fH-
2. BE il further enacted, That when ,wen.y
thousand dollars shall have been subscribed kv a.
theirs than the Commonwealth and paid or secrursa
10 be paid the Board of Public Works shall spb-
scribe the sum OF thirty thousand dollars and shall,
continue to subscribe in the same proportion when
ever any subscriptions by others than the Common
wealth are paid or secured TO be paid, until the
whole sum authorized by this act is subscribed.
3. BE It further enacted, That The Subscription
hereby authorized to be madcby the Board Of Public
Works shall be paid as provided f,r in tho sScond
section of the act, entitled San Act TO authorize 4
subscription behalf of the State to the stock or
the Louisa Railroad Company passed Fsb,raIv
twenty fifth, eighteen hundred and thrty-seveu.
a. BE ii further enacted, That not more than
half the sum authorized by this act to be subscribed
by the Board Of Public Works shall be called FOR
during the first year. -
s. This Act shall be in force from its pass,or
The Board OF Public Works declared, as you
nave seen from resolution published in the public
mt aspnl l.,
could subscribe except to one particular rou,e ,nd
the opinion Of the Attorney General was called cr
In obedience to the call, that officer gave an opn
ion after laborous investigation of the Question su.
tanning and confirming the right, which the com
Pany think is 50 manesty conferred by the Act. of
selecting me route having regard to the several
considerations expressed. 80 =
was apprlzed that the Board would reouire boud
and security to secure the payment Of the private
subscription. made application for the Ststa,.
subscription, presenting amount of bonds exceed
ing thirty thousand dollars, the execution Of which
was a''ested oy sworn witness in every case, and
the security also swearing before Justice Of M,
Peace To his ability to pay the amount for which Ia
was bound, alter the payment Of his debts. To
this application, received written answer ,h,,
the subscription wonld not DO made addressed ,
letter to the Board informing them that il the sub
scrptlon was declined because the security for thu
payment OF the private stock was deemed insuf6
cient, such defect would be corrected and yeeeived
an answer, that they declined solely in conseouenc,
of the proceedings at the meeting Of the Stocibold-
ers at which they adopted the route to Rock6,b
Gap; and that the matter would be referred Il ,he
Legislature. lfit shall be gratifying to the Leeis
latve body just about TO assemble, 10 be called ON
To revive the acts of their predecessors, (of which
think there is very great doubt i. seems to me not
very respectful to the body which enacted the law
to refuse to execute it, especially if it requires
stretch Of power to do so.
| may not understand the full extent Of the eor,-
stiutona poweIs Of the Board have not. how
ever, supposed that they were coordinate with q,
rather superior to, those Of the Legislature. H
they can require one revision of a law, they can =
second, third, and on-thus eflectualIy preyent
ing the will of the Legislature being carried into
effect. do not charge these gentlemen with suoh
design But if they can rig htfaly exercise such
power, that would be the natural result
In conclusion, | will remark to the stakeholder
the Board feels perfect confidence, that ,bonph We
labor under the disadvantage of having Richmond
arrayed against us, the laws will afford the am.
protection to their rights which they do TO .nv a.
Their citizens; and that the Board Of Directors Ia
whom they have entrusted the qua rdianship ofheir
| interests, will not surrender them 81
49,, E. FONTAINE, Pre,r.