Richmond daily times. [volume] (Richmond [Va.]) 1850-1853, 1853-01-03

now fishing on the Potomac near Acopia erect
Virginia, caught on the Goth ultimo white sb.d
and on the 30th four others, fat and fiue. Mr.. T
says he has been a fisherman twenty one year
and has never heard of shad being taken in De
ceinber from the waters of the Potomac.
JAMES RIVER Il KANAWHA COMPANY
The House of Delegates having, ON the 2ot
inst adopted resolution, proposed by Mr.. LEW
is, of Harrison requesting the President or Sec
rotary of the James River aud Kanavha Compap,
communicate to the House, certaininformation
therein specified, relative to the financial cond;
| ton of said Company, Judge MAsoS made tn,
following reply, which was laid before the Houst
on Friday last
OFFIcE OF THE JAMES RIVER IL kAAwHA Co.,
December ooh, 1852
10 OSCAR M. CRUTCHFIELD, ESQ,
| Speaker ofhe House of delegates.
| SiR--in compliance with the reuest con.
| tanned IN the resolution of the Houe of Dele.
gates adopted on the goth inst, haze the hon
or to make the following communication respon
ding to the several enquiries in the ordrin which
| they are propounded.
list. | transmit herewith statement nre-
pared by the Secretary of the Companr, showing
the precise amount ofinterest due on tie Compa
ny's debt rs specified, and payable on the first
day OF January aud on the first day ofJuly next.
Inc several Items constituting the indebtedness
OF the company will be found enumented in n
petition which had the honor to submit to the
General Assembly, under date of the leh day of
January, 1859, to which must be addeh debt
to the State OF Virginia for loan of 100000.
made under the act of June 5th 1852
The statement distinguishes the amoupt of in.
terest payable into the Treasury, on det.s due
to the State, on those debts the interest of
which the State is bound to pay to Bond or
Scrip holders from the Treasury, and on Bonds
oil the Company, guaranteed by the Stae and
payable by the terms the Bonds at the Com
pany's Office to the Bondhoders.
I'd. The Company will have on hand on the
LIST day OF January next, no money applicable TO
the payment of The annuity to the old JamesRiyer
and hanawha Company, or to the interest on the
Company's debts which will fall due on that lay.
TINS condition OF the Company affairs was an
ticltmted and communicated in the 18th amuaI
report TO the Stockholders, and was fully stated
In the petition to the Legislature already referred
to. In regard to the interest which will falldue
on the first day ofJuly next, am unable to do
more than repeat what have already stated iumy
official communications; which are before the
Legislatures and express opinions on estimates of
probable future income. The loan made bv he
amount OF interest, and the deficiency was made
up by the application of money intended for the
construction of the tide water connection. 1Ne
work ON that part ofthe company's improvement
has not been suspended, and the monthly esti-
mates have been paid from the general income of
the company. ln view of the great importance
OF the work, and the fact that in an unfinished
state 1t will be useless to tile public and unproduc
tive to the company, while if finished, it wonh
greatly facilitate trade, and produce, it is beliey-
ed an annual income of not less than $4,000
In addition to other revenues of the COMPANY,
it is probable that the Board of Directors will con-
tlnue to apply the general income ofthe company.
to the prosecution ofthor important work. unless
it shall be the pleasure of the General Assembly
to direct otherwise. The ability of the COMPANY
to meet the semi annual interest and annuity due
on the 1st day of July, will depend on the dis 90
sltion made OF this question. If it be the plea.
sure OF the Legislature to make the provision for
the payment ofinerest to the amount of ST 80 900
asked for, and to afford the aid for the completion
of the Tide Water connection, for which De.
tltion is now before that honorable body, I am
still of opinion, that the company will be able to
complete that work in the year 853, and to meet
the interest and annuity due on the first day of
January, and a. the LIST day ofJuy next. NV rea.
sons for this opinion have already been fully sta.
ted in official papers now before the Legislature
AS all such estimates mustbe conjectural reliance
on their accuracy depends on the data on which
they are predicaed. The estimates submitted in
my report to the stockholders of November 24th.
1851, were less favorable to the company than the
actual results OF receipts and disbursements were
found to be. On the same data made my estimates.
which were submitted in my report of the 25th
of October last; and still believe that the results
will be equally favorable. The actual receipts of
=, tI,,o f Oota
on the canal from Richmond to Buchau-
an are known, and enough is known of those of
the current month of December to show that the
first quarter of the current year will exceed
those OF tho corresponding months of the last
preceding fiscal year by more than $4,000.
In my estimate of the probable receipts of the
current year, | calculated on gross revenue
from the Company's works, &c., of $345, 900,
or an increase of S38,016 rs cents. If the ratio
of an increase, established by the first quarter,
shall be maintained through the year, if it will be
perceived that the results will be as satisfactory
this year as they were last.
The resources of the Company applicable to
the payment of the next July instaments, of in
terest and annuity, depend on the current re-
csipts of the Company, from its tolls and rents
on its productive works. They are due to the
Company, debts which will, believe, be ulti-
nately paid, and form part of its general in
come, but the period of payment | do not feel
justified in anticipating, with any degree of con
fdence. They consist of the balance of judg-
ment against the estate of VIM. B. Chittenden,
deceased, and debt due to the Company from
Gen. James Hamilton.
The nett aggregate of principal and interest,
will not fall short of 100000. There is also
due an arrearage of tolls on the Kanawha river,
of which more than 100000 may be expected in
the course of this and the two next fiscal years
There are some lots and parcels of land at
different points along the line of the Canal and
Tide-water connection, which have been pur-
chased generally under the advice of the Board of
Assessors, and to avoid expensive and litigated
condemnations. This property is not held for the
general purposes OF the Company, but was paid
ton out of the appropriations for the speciic