Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1847-01-12

Mr.. Smith-of citizens Of Fsuqutr tor new
County.b. division OF said county the Court
house 10 be atSalen.
MIR Marc. memorial OF Richmond Mae Or
phan Society, Ter charter
JAMES RIVER BILL
On motion Of Mr. Dounan, nc bill pro, ID
ing for th, completion Of the James River s.
hanawha Cana from Iidewater al Richmond
10 the towu Of Bueha nan, and Tor other pun
poses, was taken up Quits second reading.
Mr. DornaB Offered on amendment as sub
sutnte for the second session 81 the bill
which be sa>d had been determined upon al
ter full CONSULTATION with thu friends Of TIE
bill.
Second section OF the bill
Be Il lurther enacted, Tat thg Beafl Of
Public Works shall subscribe aud theY ore
hereby directed, az soon a. required b. tie
ssld Company, TO subscribe to the capital stock
Of the said Company, on TIE part OF the STATE.
Vic sum oil which subscription
shah be paid BY the surrender to tie said Com
Pany, OF the sum Of $4,000 dollars Of debt
OWING BY tbt raid Company . the STATE. an
nc assumption By the State Of 400 0o0 del.
iarS OF bendso the Company heretofore guaf-
tlon aforesaid IS made il shall be the detN oil
.he Board OF Public Works 10 cause 10 be IS
sued to the holders of the guaranteed boads of
tle said Company IN lien thereof. certificates
81 debt OF the STATE, PAYABLE a. the said guar
anteed bonds are no~ payable. Each aeItlfi.
Gates SO issued shall b. signed by The Ffeastl-
fer and counterasned bY The Second Auditor.
and shall be registered and transferred. ana
of h. hRl,
/ 70 tbs prosIsio OF the Act OF Assembly pass
ed April 9Th 1898. entitled IAN act providiug
Tor the negotiation Of loans for III. purpose It
Internal Improvements AID /, shall 81 30
oe The duty oil the Board OF Public Works. IL
the same time. TO execute 10 The said Company
release OF the morgage nov held by the
said board on behalf OF the Commonwealth
on The works AID property OF the said COM
pahy: Proridtd hsctuer, That II ans OF the
sdIi guaranteed bonds should not be surreud-
cred BY the holders IN exchange for the said
eerttiicates oil debt OF the State, the payment
ol the interest and the final redemption oil the
principal sum OF said bonds, according 20 The
suPutali1ns thereof, shall be deemed public
debt OF this Commonwealth, and the payment
thereof shall be provided Tor by law
The following Is Mr.. Donnan's amend
ment.
be 1t further enacted. That the Board OF
Public Works shall Subscribe, and they are
hereby directed, rs soon rs required hY the
company, 10 subscribe TO the capital stock Of
me COMPANY on The part OF The State, twenty
thousand shares, to be paid Tor BY the release
OF d debt OF the said Company 10 the State OF
I'VE hundred and seventy .l1 thousand tWo
hundred aud Tour dollars and sixty nine cents.
ana The assumption ~ HE State oil one mil
non iouf hundred thousand dollars OF bonds
OF lhe Company, heretofore guaranteed by the
Slate. ami III consideration OF sad subscrin-
uoh, The Mate shall be entitled 10 receive
from SAIL Company interest at tn rate tf tx
per cent. per annum on TWO millions OI dol
iafst 10 be computed from the hrst OF January.
ictf % be paYs bic only when the said Com
pshy snail have funds iairly applicable 10 tie
payment OF dividends On IT'S stock sufficient To
pa! SAID interest or Some part thereof, and
heh lbc arrears OF sad interest shall be ev-
s!hSushed, then, IN case the Legislature shall
permit lhe Company TO declare aud pay diyl-
dends on It's stock. The State shall be al hbaf
~ therefore 10 elect, either 10 receive div
aends on the additional stock hereby author
ized 10 be subscribed, as the Company NAV
make declaration thereof or interest as A.
ioIrsald. As soon az the subscription s(ors
said Is made, II shall be the day of the Board
OF fuolie Works, when required by the hold.
FRS Of the guaranteed bonds of said Comu,nv
10 cause TO be ISSUED to said holders. In hen
oi saih bonds, certificates OF debt o. the Stat.
payable as tie said guaranteed D 1nds a r. nov,
payable Each certificate - issued snail l.
slShed by The Treasure. and counterslyned tx
'he Saeond Auditor, and shall b rrglster~.I
iid transferred and he rights OF the holder,
regulated according TO the provision. OF III.
hci OF Assembly passed Aprl ninth, eighteen
isAafea ant ihir.y-eiEht, entitled An A..
Fofidln2 Tor Tie negotiation OF loans for The
purpose OF internal improvements And -
'nall also be Tie duty u the Board Of Pgbli,.
" ofks as soon a. the said subscription shall
= made, 10 execute 10 The said Cupn.nv
s'esse OF the mortgage now held by the said
; ard, on oShati oi The Commonwealth. an
lse oEss aud property OF the said Cornnap..
Iosided, however, Thai IL any OF The sa.d qua.
ahleed oonds shoAll not he surrender hy
ne holders thereof IN exchange tor the sal
eFihcaies OF debt OF the State. hereby a..
hofized 10 be issued, the payment OF The in.
res ana he iiaal assumption OF tie nripet.
al SIN % sad bonds, according 10 HE .lie.
laHohs thereof, shall be deemed public
ep' oil The Commonwealth, and the pafnenf
l,tsoi ShaH Dc PROV ided Tor BY law
III. p2fmsn explained the difference b. .
y cen The - section and The substitute ole.
. .! hiin. lie would not Low be sald. en-
= 10" he a.scusslon q The genera. merit. q
".e osil' h!s design A. present was fuef.l. y
poes 'ae hiii IA as perfect aud complete .
'.''- as possible before II. engagement. thai It
49, 4 came up On IL passage he should adj a
So 10 IN House such Arguments a b. 4 been nj
''il''iei A4'n of clos examination Of the ''
arc hs hoqsi Hat an .