The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1852-09-24

AT an adjourned meeting Of the Council Of
the City Of Richmond, held September 2lst,
| 1852, the following Report, which had been
| laid upon the table, was taken ups
The Committee of Finance, TO whom was
referred the petitions Of certain freeholders Of
| the City of Richmond asking that poll may
be directed to take the sense Of the freehol-
/ ders Of the City on the question whether the
| Council on behalf Of the City shall subscribe
| 10 the stock Of the Richmond and Danvilie
Railroad Company an amount not exceeding
$50 600, respectfully report, that the Assessor
| Of the City, after careful examination of his
| books reports that the number of white male
citizens Of the Commonwealth, resident there.
in, aged twenty -one years aad upwards, who
are freeholders Of the City, is, according to
his judgment, as near as he can ascertain it,
l178; and after examining the said petitions
the said Assessor reports that they are signed
by 376 persons of whom, according to his
best judgment, 298 are such freeholders.
The petitions thus appearing TO be signed by
one-fOurih of the freeholders of the City, and
power to direct the poll that is asked, some
views have occurred to us which we deem it
proper to present for the consideration of the
Council.
1t is stated in the petitions that the capital
stock of the Company is allowed TO be in
creased 100000, of which two 6fths may be
subscribed by others than the State; and ii is
urged that il Richmond shall subscribe the
proposed sum of $4,000, being one fourth of
the two ffths, her example will be followed
by counties on the line; and that as additional
subscriptions are made by others than the
State, the Board of Public Works is TO sub~
scribe on behalf of the Commonwealth in the
proportion of three fifths TO two fifths. And
so, in this way, it is argued an additional
subscription of $4,000 by the City will be
materially instrumental in making productive
her previous subscription of 100000 to the
stock Of this Company. Giving TO this argu-
think if the poll should be directed and the
majority of voters be for the subscription, it
ought to be understood that the Council will
not feel bound to subscribe ut once one fourth
Of the $4,000 but may only subscribe as ad-
dtional subscriptions made by others
than the City and State, and then only sub.
scribe one third of whatever such additional
subscriptions will amount to; which will be in
the proportion of one fourth to three fourths OF
the 100000.
We think, too, if the Council should sub
scribe the whole or any part of the $4,000, it
should, in order to render as productive and
useful as may be, what has been paid or may
be paid by the City, impose some condition as
TO the part of the line on which the money is
to be expended. The Company, it seems,
commenced simultaneously at the eastern and
western terminus. OF the 904 miles from
Richmond to Stanton river, ii has now in
use $50 miles from Richmond to Burksville,
the point of junction with the Souihside Rail-
road, and expects to open to morrow an addI-
tional section, reaching to the station al
Moore's Ordinary, III miles beyond the juno
ton so that there will then be in use IS miles /;
and it has under contract the grading of the
next 251 miles. OF the 49, miles between
Staunton river and Danville, the Company
has done nothing ON the 284 miles next to
Sraunton river; but it has put under contract
the 20 miles next to Danville on which it has
expended an amount exceeding hundred
thousand dollars, which is now unproductive
| and must continue so until the western shall
be connected with the eastern section. The
Company has proceeded in this way, under
| the 9th section of its charter, which provides,
that it shall commence the construction oil
said road at its eastern terminus and proceed
with the same by regular continuous sections,
except in such cases as the President and Di-
rectors may, from the delay occasioned by the
erection of bridges and difficult passes in any
particu direction, direct otherwise, or in the
event they shall determine that the interest OF
the ompany and the public may be advanced
by it, they may commence simultaneously at
the eastern and western terminus" We
think if there be made ON behalf OF the City
such farther subscription as is proposed, il
should be with the expectation and under
standing that the money to be paid by it shall
be expended in getting into operation con-
tinuous line from Richmond; first to Stanton
| river, and then from Staunton river towards
Danvilie. Proceeding in this way will be en-
tirely consistent with the charter of the Com,
pany, and, we think, for the interest of the
Stockholders, both in and out OF the City.
All Of the Committee who were present con-
eur in The foregoing views in case the poll be
directed; and we agree that though the petitions
be signed by one fourth of the freeholders OF
the City, there Is discretion in the Council
either to direct the poll or not. But upon the
question whether in the exercise of that dis
cretion, the poll should be directed, the men,
bers of the Committee present were divided in
opinion; and we return this report and along
with it that received from the Assessor, SO that
The Council may take such action on the subs
ject as may seem ~ it proper.
The foregoing report was approve d; aud the fol
| lowing resolution adopted by the Council:
The Council being satisfied that the petitions oil
Corbin Warwick and others the petitions of one
fourth of the freeholders of the city, DOTH on the
| said petitions,
Resolre, That poll be, and the same is hereby
directed to take the sense OF the freehodeTs of the
| city on the question, whether the Council, on be
halt OF the city may subscribe to the stock of the
Richmond and Danville Railroad Company, a m
pany Incorporated for d work of internal improve
meat in this State (par of which is to be
ed in or near the city, an amount not exceeding
s2ooO0; that the time OF the poll be Tuesday, the
I'd day OF November next; and that this resolution
be published for one month, (and afterwards unit
The day OF the poll,) in at least two newspapers o
| the city. A copy.
Sc M-2t WM. P. SHEPPARD, C. C. R.
L
JAMES RIVER AND MANA.
| 49, VIVA COMPANY.-The Eighteenth
Annual Meeting ct the Stockholders Of the Jamei
| River and kanawha Company will be held in ih