Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1849-01-09
RICHMOND AND DANVILLE RAIL
ROAD.

In Inc published proceedings Of the first annu-
meeting Of Inc Stockholders in III Richmond
AM DanvilIe Railroad Company, We find the iol-
lowing:
The committee on the reports Of the President
AMI Cni-l Engineer beg leave respectfully 10 re-
Clu:
That lhey have as carefully considered all The
Subjects e.lbraced in those documents, as the
umc allowed them would permit Your com
i..,tiee are Of the opinion, The Board OF Di!ecofs
{ oud not have been justified IN making pur-
chase OF the Chesis;f-ld railroad, on The terms
dictated by tina; CO pany, and in view Of The
facts elected hy ,hs survey Of he youte suisse
aueniy adopted 10 The Chesterfield pits, your
,ummitlee 10 mol see how the Board could have
proposed further terms Of purchase. The com
mitire believe il would have been gratifying 10
every stakeholder, if The Chesterfield railroad
caui have been used whou, material cc'rment
10 he interests 81 The company, but The report OF
he Chief Engineer, hey mink, must satisfy all
that such an arrangement was inpraciicable,
and that The Board Of Directors have adopted The
most udcious route 10 the Chesterfield piS.
Yaur committee were inclined 10 think il
wou be injudicious 10 lay down any other than
the edge rail on any part OF The road. They
were perhaps justified in that impression By the
fact that the use OF The plate rail is said 10 be
to,aliy abantl ned in The Eastern States, where
railroads have been more successful. They
have called on the Chic. Engineer for his opinion
and find il fully confirms their impression That
officer has politely furnished them with The iol-
lowing estimates, viz: The additional cost Of The
edge Iail over tha, OF the IA, bar from The coal
mines o. which point il has already Seen adopt
ed 70 Dangile would be 3 $50 pr mile, and the
saving in repairs &c, Tor a trade Of 100 600 tons,
would be S623 per mile per annum, which is
more han twenty-five per cent. per annum upon
the increased cost. Your committee are conf
dent hat this simple financial statement, should
satisfy every sockho!der that j. is his immeti-
ate interest 10 increase his subscription 10 such
ex'en; as will be necessary 10 supply Inc means.
In addition 10 his won .eTiul effect which the edge
rail mus. have upon the value If tie stock. We
may with pEoprieiy refer 10 the increased safety
10 The passenger, and diminished cos, OF trans
por;aIon 10 he platter and farmer secured there
by.
Your committee regretted 70 learn 'ha: con.
treve!sy had arisen between the Board OF Direc-
tors anu The Board OF Public Works, in refer.
rnce 10 the subject OF the appointment, q Stale
Directors. They have deemed il a par. OF their
iuiy 10 enquire carefully into tie facts, and find
that The company had been legally organized BY
a general meeting OF stockholders, al Charlotte
c. d., on he 24!h day OF Nov. 1877. That the
Board OF Public Works had at that time made
Nc subscription to,he stock OF The company, and
consequently the State was no! represented in
that meeting; that FIVE directors were appointed
~ said meeting TO serve Tin The language Of the
charter "unl The next annual meeting OF the
stockholders"
! That sub equenlly he Board OF Public Works