The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1854-04-17

RICHMOND AND DANvfLLE RAILROAD.
The stockholders of this road assembled It Metro
politan Hall last Saturday, the Hon. WIN, s. An
Chez resuming the Chair, and proceeded to bust
ness ET8fef 6Sxe
+ Col TowKEs, from the committees Of tbirteeu. 10
whom had been recommitted the Presidents com
municaton, with instructions to take into consid
Grafton the statement nj the President of the nan-
ciai condition OF the Company, and make report
of the same, and of the amount necessary To com
piefe the road to Danville az well the probable
time viii take to reach that place with the work.
stated that owing to the departure of largo mum.
Der OF the committee, the limited time that had
been allowed to gather facts, and the Importance
OF the subject matter to be enquired into, 1t was
impossible for the few members left to make re-
port that would prove satisfactory to themselves
and to the stockholders Mr.. Townes then pro
ceedcd to make verbal statement OF Information
derived from the Chief Engineer and Treasurer,
which showed, that instead of deficiency of
100000 to complete the road to Danyille In two
years, the Company would have on hand hand
some surplus by that time.
passages in the report OF the President, which did
not seem to be thoroughly understood. The $780,
600 deficit for relaying forty miles of the road
with heavy iron, and for completing 1t to Danvile
by the 30th of September next, in which the net
receipts of the road to that time were estimated.
greater portion OF the rail now proposed to be
taken up is new and of course will not be replaced
by heavier one until it is worn out This, OF ne
",
then, from the scarcity of labor and the impossible
lity of completing the road by the time specified,
the net receipts to be derived from the first OF
October to the completion of the road will have to
be substracted, still farther decreasing the deficit
In his opinion, judging from statements made by
others, S306 900 would be sufficient to complete the
work in eighteen months. There were now in the
hands of the Company, and subject to its control,
$447, 600. IS -.-..,.... tt
DR.. T. P ATKINSON of Danville, offered the fol-
lowing, which was adopted:
Whereas, most OF the COMMITTEES of thirteen on
the report the late President, have LETT the city
be it therefore,
Resolved, That the chairman of this meeting be
authorized to add four members to said committee,
and that they be instructed to report to the stock
holders at o'clock this afternoon. f
The Chair ma ned the following gentlemen 10 act
under the above resolution: Dr.. T P. Atkinson,
Thomas 7. Giles, Charles 8. Mills and Wood Boul-
din
On motion of Mr.. ISAAC r. WATKINS, it was re-
solved, that when this meeting adjourn, it adjourn
to meet this evening at o'clock.
The Chair stated that he had appointed the fol.
lowing gentlemen as the committee to procure sub
scriptions to the Tunstall monument" Messrs. j.
B. Stoyall, Richmond w. r. Belts, Lunenburg;
VIM. L. Booker, Amelia VIM H. Clarke and John
Edmonds, Halifax; Hunter H. Marshall and VIM
w. Read, Charlotte; James M. Smith and Hugh
billiard, Henry Charles S. Mills and William w.
Crump, Richmond.
On motion of THOMAS T. GILES, the fourth Sec
ton of the bylaw relative to proxies, was amended
as to read, that no proxy, other than proxies to
represent the State towns counties, and other
poratons, shall be valid for more than six
months IT,. .-
The meeting adjourned to meet at o'clock, P.