Richmond daily times. [volume] (Richmond [Va.]) 1850-1853, 1851-02-18
THE TIMES TERMS.



Richmond and Danrille Railroad
The recent conferences of the stockholders in
this important enterprise, constituted an interest
ing epoch in its history. Owing 10 variety of
circumstances, unfayorable impressions ofthe con-
ditjon of the work. and of the prudence of its
management, had obtained TO considerable ex-
tent. especially in this city. A committee ofin-
vestigatton was known 10 have been appointed for
the purpose of rigidly scrutinizing the Company's
affairs. An unfortunate disagreement occurred
betweed the Committee and the Directory, which
cut short the investigation, whilst it was yet in
complete Altogether, when the stockholders
first re-assembled, matters seemed to be at very
bad pass. But, after wonderful quantity of dis
cusson, and sessions the most tedious ever en-
dured, the clouds began to clear up and the real
state of things disclosed itself ina far more ia
vourable aspect than many had apprehended.-
Memoranda of all the information obtained by the
committee were laid before the meeting, and they
covered, we believe, all the matters in connec-
lion with which complaints had been made of the
Directory. After prompt explanations from the
officers on every point that suggested inquiry, the
stockholders came to unanimous resolution, de-
claring their confidence IN the past management
of the Company, and their conviction that its
friends have only to cooperate zealously togeth-
err and the early completion of the railroadto DAN
Vile will be secured 1t appeared that the section
of the work between Richmond and the Coal Pits,
now in operation was sure of being profitable by
reason ofthe large coal trade which ithad already
begun to accommodate. Both the Black Heath
and the Midlothian Companies are now employing
the Danville road, and we yesterday saw long
train iron coal cars, fully !reghted, passing to
the wharyes below Rockets The distance be-
tween the Pits and the AppomattoX river is being
rapidly laid with the heavy rail, and will soon be
ready for the trains. The present resources of
the Company, exclusive of portion of the orgi-
nal capital yet to be raised, were found to be am
pie for meeting all the existing contracts, which
will give the Company graded distance of about
ninety miles. Without going into particulars,
we believe the Stockholders were satisfied that
without any further addition to the means of the
Company, the road will be in operation as far as
Eurkes or the junction with the South Side Road
duting the present year, and that the contract
with Col. TONNES for grading % miles of the
Inc adjacent to Danve will be executed, posi-
bly, also in 1851. A large contract with Mr.
Galloway On the section about the head-waters Of
the Meherrn will also be completed in this OF
early in the next year. Upon the whole the
prospects of the work are evidently brighter, and
we cannot doubt that the Legislature, in its pres
ent liberal mood, will give the work the assistance
needful forts completion,
In our sketch of the proceedings of the Com
pany on Saturday, we accidentally omitted the
following:
Mr. Crump offered the following resolution as en-
bodying the sentiment of the citizens of Richmond and
conveying the country stockholders an tina
they wished and intended in good faith to carry out The
original OBJECT of the Company viz of completing the
road to Danville:
ResoSued That the Stockholders faithfully PLEDGE all
the future net revenues OF this Company, not already
pledged, to the completion OF the road to Danve and
that dividends upon the stock Of the Company shall be
faithfully dedicated TO that purpose.
Mr. Mayo, the part of the city proxies stated that
they would Tor the resolution with Infinite plea
sure carrying on; the original design of the city in
making its subscription of 100000 to the stock OF the
Company.
nearly the whole OF the stock ct this end OF the line
Mr.. Brooke acqgiesced in the resolution though he
ad s Stockholders did not stand in precisely the same
position.
The resolution was adopted without dissent.
Mr., Tunstall, by leave OF the meeting. made some
general remarks upon the condition and policy Of the
Company. He stated the result of his mission to
alegh. 1t was thought .uexpedient 10 make any
proposition to the late Legislature for connection with
the N. Z. Central road but he assured that there
would be difficulty all 10 the way OF the connec-
ton, when the Danve road should begin to approach
the Western part OF North Carolina.
Mr.. r. II. Maury made statement 10 repe the re-
marks made by N Wtcher on Wednesday evening
rejecting on the position OF portion OF the Committee
oil Investigation.
An explanation also made by Mr. Bacon TAFT
and, after remarks from other gentlemen, the meeting
took recess until II P. NJ, when as before stated the
election OF officers took place.
y. b. The name OF Col TONNES was misprinted
Turner, in report Of Saturdays proceedings where
designed to represent the Colonel as sec ondinp Mr.
Eouldn's nomination OF Mr. Clifford for reelection as
Director.
GEN. QUITMAN
We have noticed Gen Quitman's resign aiion OF his
Office OF Governor Of Mississippi, and his arr, al at
New Orleans. He published an address 10 the peo-
pie OF his State IN which he says
"Unconeous OF having in any respect violated The
laws OF the country; ready al all lmes 10 meet any
charge that might be exhibited against me have only
been ANXIOUS III this extraordinary emergency 10 fol-
low the path oil duty. As cilize il was olain and
clear, must y eId to the law, however Oppressive
or UNJUST Ia my Case but Chief Magistrate OF SOY
efelgn olate had also IN charge her dgEily her hon