Daily Richmond times. [volume] (Richmond, Va.) 1849-1850, 1849-11-29

ment If shall be determined to establish the con-
nectiUn by railroad the substitute for the water line
appears to me, that the mixed improvement will not
and cannot remain as continuous line of transpora-
ton. 1t can hardly be doubted, that the ermin of the
railroad the mountains would not be stationary
at the head OF the companys water lines either side
OF the mountain but would be carried by new connec-
tons extended works OF the same kind to the Ohio in
the west and tidewater in the east and although por
ton OF heavy freight passing over the mountain might
continue the canal the trade could be expect
ed ever to realize the hopes, which may justly be enter
taned ii the connection can be SO established that the
same boat pass with its cargo undlsturbed through
the entire line That there are difficulties attending the
construction OF the work. water line cannot be ques
toned But from my view OF the country, It's rugged
face and geological structure, it appeared to me- that
there will also be found serious difficulties in construct
ing railroad Every facility ought to be given to travel
to the mountains with their invaluable mineral springs
But the Improvement OF the great central highway across
the state has cost too much and the return Tor the outlay
depends too largely full development of agrcutu-
raj and mineral resources and giving to the rich aud
heavy productions of the mountains and vales OF the
west an avenue TO market to change its character merely
to accommodate travel when that may be effected with
out interference with the purposes md utility OF i'm
proVement. My opinion is clear and decided that the
water communication is the best for the company, and
the most certain means OF commanding transportation
and enhancing the and the value of the entire
line OF the works if it be practicable. And would re-
commend that the decision OF the question be post2oned
until the water line be carried high both sides
OF the Allegheny, is undoubtedly practicable. While
| these works progress careful survey should be
made by board engineers that the question may be
settled whether the water communication across the Al
eghany can be established and maintained. In making
this suggestion do not wish to be understood as dis
credng the opinions expressed OF the practcabliy of
the measure, by eminent engineers, heretofore
laid before the stockholders But the apprehension Of
insufficient supply OF water on the summit level,
tertained by many, and on which my mind is not
fully satisfied ought, as tar as possible, to be removed
or confirmed, before work of so much importance, and
| involving so much cost is commenced
1t is obvious from the exhibit which has been present.
ed of the liabilities OF the company, that its works should
be extended gradually and justice, well as policy
quires that the improvement OF the western portion OF
the line should progress with that on the eastern side OF
| the mountain
The considerations presented by the chief engineer
favour of going with the work above Buchanan,
the line is completed to that point entitled
to great weight. suspension OF the work for
year, would add considerably to the expense OF the
tension. The abourers and mec hanics now on the line
the implements and machinery Tor heavy work, could
not be replaced without great delay and considerable
expense. Slave labour has been extensively used at
good prices and many OF those who were employed as
labourers, acquiring useful knowledge in the prepa-
ration and use of stone and other materials, and the
company well as the will be benefited if they
| are not Withdrawn and their places filled, on the
SUMPTION with green and inexperienced hands.
| annex statement showing the number and descrp-
ton OF hands employed. Appendix G.
In connection with the subject OF the financial condi-
ton of the company deem it to be my duty to invite
your attention the condition of the post account
1t appears from the records OF the company that post
notes were issued
Prior to lst December lS4l for. III 245 90
On the LIST December lS41, ............ $3.50 90
| LIST January 1912, "............ 81 1856 90
" LIST February 1912, "............ 1890 90
| =" LIST March 1872 ".......... 62O5O 90
81 ,9535 $50 90
The practice has been redeeming the notes, to in
dictate by mark on the register adopted by the
mittee of directors making the examination, the notes
| raAaa md n trov
LIST November S4S it appears by the last annual report
and by the statements OF Mr. Gerberdng, that by pre-
vous payments the entire amount OF issue post notes
was redeemed less $780, During the year ending on
the 3lst October 849 the tollgatherers received, in
payment of dues, post notes amounting to $l720. The
register shows that there post notes which have
been cancelled burnt, amounting to $42l0. There
does not appear to have been any authority to reissue
the notes None have been re-issued during the last
year. Mistakes may have been made in marking off
the notes redeemed or they may have been issued or
may form addition to the default already known to
exist But am not of any means of establishing
the liability, either OF MIR. Chittenden or Mr. Gerber
ding The records do not furnish the evidence the
means of explanation. ! recommend that order be
made directing public notice to be given requiring the
production OF any outstanding post notes, within
sonable time, and that II not presented within that me
their payment be denied.
Judgments have been obtained against the representa-
tive OF VIM. b Chittenden for the amount of his
tanned indebtedness and there is doubt that the debt
is good.
Iisnot yet ascertained how much ofthe small balance
due from delinquent stockholders may be collected
The agent giving the subject his attention. and adopt
ing udicious measures in the discharge of his duty
| | transmit herewith communication from MI. Bax
ter, the subject OF the debt due to the company from
General James Hamilton, marked HI.
| The assessment OF damages TO lands in Rockbridge
and Botetourt have in many instances been excepted
to by the propretos, and in have been set
aside, and submitted tor assessment to assessors
appointed by the courts, the concurring recommen-
daon OF the parties Desiring to promote their pros
perty, and not TO do them injury, the board will be
found ready to adopt the basis OF compensation to
landhoders, any assessment which has Just relation
to value, and is believed be excessive and unjust
to the company
The board OF assessors have been engaged since the
10th day OF November, IN assessing damages TO lands
condemned Tor the connections with tidewaer, with the
Rvanna river, and with the south side of James river.
Ii received before your adjournment the result will be
communicated to the stockholders.
Icannot conclude this communication, without availug
myself OF the first occasion of my meeting the stock
holders, to tender to them my grateful thanks for
honour which, in May last, was most Unexpectedly
conferred on me. In accepting the trust, hardly
aware OF its Importance, nor did | then, as now
do appreciate the great value of the enterprise in which
you engaged
Yet, with all the disadvantages under which I have
laboured efficient has been the service of the other
officers and agents OF the company, and so familiar with
| their duties is the board of directors, that invite
tu examination of the proceedings of the year. with
strong confidence that they will be found satisfactory
All which is respectfully submitted.
JOHN Y. MASON, President
j Naa:eulber 26th lS4o