The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1852-09-25

At an adjourned meeting Of the Council OF
the City Of Richmond, held September 2ist,
1852, the following Report, which had been
laid upon the table, was taken up:-
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 freehoi.
ders of the City on the question whether the
Council on behalf of the City shall subscribe
TO the stock Of the Richmond and DanviIle
Railroad Company an amount not exceeding
$50 900, respectfully report, that the Assessor
of the City, after a careful examination Of his
books, reports that the number of white male
citizens Of the Commonwealth, resident there.
in, aged twenty one years and upwards, who
are freeholders of the City, is, according to
his Judgment, as near as he can ascertain it,
i178; aud 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, 70 urih of the freehoders of the City, and
the Council. therefore, if il see fit, having
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-fifths may be
subscribed by others than the State; and it is
urged that il Richmond shall subscribe the
proposed SUN of $4,000, being one fourth Of
the two ffihs, 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 10 SUBJ
scribe on behalf of the Commonwealth in the
proportion of three ffths 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 $780, 900 TO the
stock of this Company. Giving 10 this argu-
meut all the weight to which it is entitled, We
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 at once one fourth
of the 10000, but may only subscribe as adj
ditional subscriptions are 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 fourlhs OF
the $2O0,00
We think, too, if the Council should SUBJ
scribe the whole or any part of the $50 600, 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 901 miles from
Richmond to Stanton river, it has now in
use 532 miles from Richmond to Burksvilie,
the point of junction with the Souihside Rail-
road, and expects to open to morrow an addi-
tional section, reaching 10 the station at
Moore's Ordinary, ii ! miles beyond the JUNG
ton so that there ill then be in use 65 miles;
and it has under contract the grading of the
next PSI miles. Of the 4Sl miles between
Stanton river and Danville, the Company
has done nothing ON the PSI miles next TO
Staunton river; but it has put under contract
the 20 miles next to Danvil!e on which ii has
expended an amount exceeding hundred
thousand dollars, which is now unpfoductive
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 OF
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
particular direction. direct otherwise, or in the
event they shall determine that the interest of
the Company and the public may be advanced
by it, they may CONNIE nee simultaneously at
the eastern and western terminus" We
think if there be made on behalf of the City
such farther subscription as is proposed, it
should be with the expectation and under
standing that the money to be paid by it shall
be expended in getting into operation a con-
tinuous line from Richmond; first to Saunton
river, and then from Stanton river towards
Danvilie. Proceeding in this way will be en-
tireiy consistent with the charter of the Cons
pany, and, We think, for the interest of the
Stockholders, both in and out OF the City.
AL Of the Committee who were present con-
eur in the foregoing view in case the poll be
direc d; 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 SUBJ
ject as may seem 10 it proper.
The foregoing report was approved; and the fol
lowing resolution adopted by the Council:
The Council being satisfied that the petitions of
Corbin Warwick and others the petitions of one.
fourth of the freehoders of the city, doth, the
said petitions,
Resolre, That q poll be, and the same is hereby
directed to take the OF the freeholders of the
city on the question: whether the Council, on be-
half of the CT y. may subscribe to the stock of the
Richmond and Danvile Railroad Company m
pany incorporated for a work of internal improve
meat in this State part of which is to be construct
ed in or near the city, an amount not exceeding
S50,000 that the time OF the poll be Tuesday, the
I'd day Of November next; and that this resolution
be publiihed for one month, (and afterwards until
the day of the poll0 in at least two newspapers Of
the city. copy.
Sc 24-2t WIN P. SHEPPARD, C. C. R.