Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1851-12-02
JAMES RIVER AND KANAwHA COMPANY.

ing before tic Georgia legislature.
: -----------sse---
: JAMES RIVER AND KANAWHA COMPANY
The Stockholders e-nsscmbIed in large number on Wed
h nrs!ay evening.
ar. G. y. Johnson Chairman of the General Committee
presented its report as tolnws
. REPORT.
The CoIynlee 10 whom referred the report Of the
c>ide and accompanying documents the report of the
special C"nlnrc on tolls and sundry memorials been
"Sy engaged in considering the subjects referred 10 them
ana prepared report upon all except subject of tolls
'Ei'l they were unable iuiy consider because print
10" o ie documents connected with that subject
finished l6ey proceed sp report upon the other subjects
committed lU Them.
1t. The proposed change Of tho time Of holding the an.
nua general meeting of the Stockholders
The President having recommended in his Report that the
ine Il" linG the annual meeting DC changed tic fourth
.! ic fiscal year and 10 meet the wish of B,,ar
i"f PnDic works-.he committee propose. the adoption uf
;hc JlIn"ing resolution:
itcs"vei That IN future annual meeting Of the Stock
holders be held "n The fourth Monday in October.
2n"lV. The tinanr!al alt IRIS III The Company.
IL appears from the Presidents report h,t notwitstand
!ng increase OF the tolls cninuIiun Of
e expense {" the general administration ol the cumany the
Gs5u srn-nts the company nr the late fiscal exceed ts
receipts by The of Si6 62S as and similar Excess m is.
h'"inens tor HE anticipated of
Iboel $50 000 These ic.nces will have accrued in runse
qecr OF The large nnnuut interest which has bc
to be- paid by the company bonds issued
yet in progress and unprnduciivr Moreover H. cisn-
cy Is anticipated Of not less than $3.50 00 arising
Inc cost oi The construction Of The second division Of
the Improvement and Of the Tide-w Son, and Ri
wanna The estimates Ot
iogcr amounting about S550000 all be provided fo.
dnrns The coming year, the company expect be able 10
meet, from their resources loss thpn $50 000
IN. about SOOOOO unprovcd for in respect which they
viii be Compelled 10 ask all from the State, expecting
pay whatever may be advanced that account from The
larger income which will e received their works
no% In progress, are completed.
Ia relation 10 this subject the Committee recommend that
| The Suckhclders adopt the following resolutions:
Resolved That the President and Directors behalf Of
line Company apply To the Legislature for did in relation
the existing and anticipated decrnces in their revenue, so
as 10 enable the company punciualy TO pay their semi
annual interests.
Resolved Thar committee of five Stockholders be mp.
pointed To aid by their Efforts in giving effect that app
cation 10 the Legislature.
Rasolyct That il The General Assembly shall consider ii
compatible with the interests Of the State, and Of this
anY 10 fund the bond debts OF The company assume
IN" payment tcreot the part Of The State The S!ockhu
"rIs fcrcby assen 10 such an arrangement and modi
cation o the Charter increase the capital stock of
ne company ~ the amount of the said bonddebts and
the issue OF script for The the State additional
suck Of the company
pop lAs suPse! Of the future of the i'm
Shareholders the follow Ing resolutions: , , TO- the
nv Apply to the Legislature povde the means necessary
10 extend the Canal towards Corngt m
Resolved That the President and Directors ask OF tne
Cncla Assembly in their memorial 10 that body mat IN
case general system Of internal Improvement DC adopted
provi ue for the extension o The water-ne u Inc
lanes River and kanawhu company, Westward 10 the Oho
4,ly The committee had under consideration the memo
rial Of ciiz=ns Of Lynchburg asking for certain alterations
Of the Dam and Works, that town, win view 10 IN
crease the head Of in the Canal and pond and certain
rcsnluons were tred BY Mr. Early, in relation thereto
| i'nr committee recommend the following resolution;
Resolved, That the Lvnchburg memorial ana the fesou-
lions OF Mr. Early referred 10 the President and Direc-
tors wo ale requested to give prompt attention thereto
Mr. Johnson stated that The committee had been hy oc.
crnJ whyIe matters rcpor:ed.pn and had not had time
| to upon The subject ot The lur'il ot TONS. o.,
The resolutions oi the committee under the ISL ana ~ho
| heads we're agreed TO without division.
MIR Richard G Morris from the minority Of the commit
zee offered following resolutions as substitute ior e
resolutions proposed by The committee unuef he %
head -
Resolved That the President and Directors apply 10 inc
re provide the necessary to extend e "a
n To Clifton Forge, and the means necessary 10 enaolo e
Company TO thence rail road 10 the oio 'ivcF
leaving tie Company liberty 10 complete the "aer-ne
when n rrai,er il may be practicable
lpon tins popositiun discussion arose which eSenoeu
20 late hour ui the might; Mr. Morrss ana MI WIN. H.
'Iar!aand advocating the substitute ana Mr. " w. J"
| .ln Nj s. d. Denuon President Mason and MI Z: n.
.;r,r,, susaininp the resolutions of The Committee Inc
Rev Mr. Eady representing the vote OF Lynchourg, op.
sri the substitute but we did not unuefs'aho MN ~ 'o
;nc Committees resolutions ;,
road from Coyingtun, Clifton Forge to me ONO Is Ger
ain thing; that il would DC better therefore or s
.r S X uawla Company to ntepoSe and OBTAIN me Pri-
cpc of constructing the railroad rather han permit 70 DC
made BY and become the property OF rival company lnal
he expc of the world has established the superiority
n railroads. 10 ca M the difference in the cost OF trans
or,un on tile les OF Improvement Is so sish mat
could materially affect the success OF ts en,e,list
hat, though continuous water line may be pracueao' u
would cost more than railroad, and woul require much
.un.er time in The construction
hand, the tflGn05 OF lc iI''c |"iI"N"u
;at The COMPANY was rgitlmately Cinal company anu
.. adhere 10 its III ain design that whilst II snohu io'
nosc the construction Of railroad II should maintain us
nu cherished puicy of uniting the waters ol The East anu
h waters of the est; that the mixed species of Improve
mt proposed by the substitute was conoeihheu oy c"pe
.nr mai The burden OF r.nshpmcn wuul cause the trade
~ on from uviugron Eastward by the railroad lnstca
Il taking the canal especially, if true as INC adVo
trs rail roads cuncnded that railroad c''rses were
s as low MS canal charges; that il on The contrary as
m fs a,nply established canals the cheapest 'odt
nj ira svuratlun for all the chief articles I" rlgat ms was
conclusive reason why company SHOULD adhere 10 i's
water nc as ne sures Of successfully c"mpeh"g
i lis Northern rirus the trade OF The "csi ih s
rajroad from Cavingtpn Westward would prooaby require
All Immense om The great difficulties TO Dc encounter
cd along the Gceenbne ana New rivers and would DC e;c
lore the least puita5c portion Of the line IRON !e oo
Richmond and this company had no suinleh'
ID Geslrc 10 the task 0t constructing ~ h"', u
should be constructed the state having s urge 81" ineits
IN The canal would 10 1t every laciy lnt o2,s
The trade Cuvng,on, which II Could nave Tue "ese'
rnllruud built By the copany and t e recent MN
ue Investigations BY Prof ruuney and the engineers q" tn
means for conducting the line across the HeShah
. mountains funished Tor the Coinpanys no
J. abandoning that policy ,,
The question being taken the adoption OF the substitute
: il, was rejected by The following vote ~
s,,,,I,a {, ,erson 90 534
r. Do by proxy and corporations 215 'o'i
IS State of Virginia, lao<
= 1852 1865
The proxies of tho city 0! Richmond the ans OF fir
: ginia and Of LynchbuS voted IN me hr-"''G
,l l.t Ia q