The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1852-12-13
LOCAL MATTERS,

INTERNAL IxraoykMENT MEETING. There was
meeting of the members Of the House Of Dele
gates and of our citizens generally, favorable to in
ternsl improvement, at the Capitol, on Saturday
evening last. The meeting was organised BY the
appointment of Mr.. Martz, Of Rockingham, Chair
man, and Colonel Ward, Secretary.
On taking the chair, Mr.. Msrtz stated that the
meeting was called for the expression of opinions
upon the subject of internal improvement, and to
hear an address upon the subject from the Hon.
John Mason, President of the James River and
kanawha Company.
Mr.. Mason then came forward and delivered a
lengthy and practical address which we should
like to have presented in full but want of space
compels us to condense. Promising that he was
friend OF internal improvements generally, Mr.. M
proceeded TO explain the necessity and importance
of the States aiding in the completion of the line
under the charge of the James River and Kanawha
Company. That completion was mainly necessa
ry because the State by it, could alone expect to
realize any profit upon the expenditure it had al
ready made on its behalf By the completion of
the whole to the Ohio River the value of the Com
pany's stock would be vastly increased-but if the
work stopped now, there no reasonable ex-
pectaton that the State stockholders would ever
receive interest on the money they had already in
vested in it. The capital of the James River and
Kanawha Company was s., 100000, and the cost of
constructing the line would amount to $780, COO.
Upon the road from Richmond to Lynchburg, there
had been expended S., 216, 230, aud from Lynch
burg to Buchanan Sl,6l9,6l3. The cost per mile
of the road from Richmond to Lynchburg had
been 49,. 400, from Lynchburg to Buchanan S42.,
$780, and from Richmond to Buchanan s37, 49,
Thus the cost of constructing the canal from Rich
mond would equal 100000.
The recaipts of the Company for 1852 from the
canal amounted to S269, coo. This, too, when that
part Of the road between Lynchburg aud Buchanan
was not in use moro than six months in the year
In constructing the shi lock at Rockets, the com.
pauy had to encounter almost overwhelming OBJ.
stac,es, nevertheless they had all been overcome
With the completion of the Dock vessels of the
largest size could be admitted and the amount of
revenue estimated to be derived from this source
would be from 50 to $4,000. The dock was esh-
mated to cost $3.50 600, and when com pleted could
be kept in repair for sum not exceeding $4,000
The present permanent debt of the Company was
S4,596, 600.
At the time State bonds were loaned the Conpa
ny to complete the second division Of the canal she
exacted mortgage on all the Company's pr epevty,
and required that i. should guaraLte revenue to
the State from that section ct S250000. The secu
rity was given and the second division had been
completed and notwithstanding its closure for 46
days, the receipts amounted to $3.50 000
Mr.. NJ then passed to consider the line of i'm
proyemc nj from Buchanan to the Ohio River. He
was in favor of the water line, and thought the
Company should be allowed 10 continue it, if the
railroad which the stockholders as we'll as himself,
supported did not prove adequate to supply the
wants OF The carrying trade. He then earnestly
appealed to members of the Legislature present.
to view this road in tair and impartial aspect and
consider its actions and design without prejudice
Il would be, when completed the shortest route to
the Atlantic coast from the Western and South
Western States.
Ii had the advantage of mild winters over the
Erie canal Of New York, which was closed by ice
about enc half Of the year. It also had the advan
tago over the Mississippi route by way of New Or
leans, of mduess of climate, and Was not subjected
like that route to great heat and dampness which
greatly injured grain, pork and other articles Of
freight which were cent to the Northern markets
He would ask, IN view OF the TACT, that from b TO
millions of produce now went down the Chic and
Mississippi, and some four millions by the way of
the Northern canals might it not be expecte that
the route Of thu company's line, which was the
nearest and the best would receive at least three
millions of this trader If, however, the company
received only one million of it, they would he EN-
abled, in short time to pay the interest and prn
cipal of their debt and relieve the State from ex
pense.
Mr. NJ. proceeded at some length to explain the
benefits of the road and demonstrate it's utility and
take his seat amid general applause.
The meeting then adjourned.