Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1854-12-15
LOCAL NEWS

DANviLLH RAILRoAD.-In tho report Of the Presldeu
Sose ssS on Si Sasir ssss .! II. s1sf
stated that the Dircctors In compliance With
adopted at tho last April meeting, Issued bonds Of tbs
Company to the amount Of t2b00OO, payable IL
avo years from the LIST OF August last, 10 sums o
$500 each with coupons Of iusrest attached, pay
| able semi annually but, because Of tho condition o.
monetary AFFAIRS they failed negotiate upon tho term,
here forth This amount being intended 10 compcts
tho road to Danvilc, that project Is necessarily defeated
thus far because Of the failure raise unds 10 the form
referred Tho President Urged the necessity Of dev
cling BY which push the work to its
cru terminus.
we fud. from synopsis Of tho Trea,urers report em
bodied in the repor, ofhe President the whole
Of tho Company the 30th Of September was teiY
sss 49, 10 which added the probable revenue or
the fiscal year ending S0th September 1885, $3.50 OOO
which is considered ir estimate Of tho working Of the
road Tho liabilities Of the Company to tho same date
shown to be $s7sooo H. including the Interest tina,
will accrue the guaranteed bonds aud State osu due
LIST January aud let July, 1855.
He says thst whilst Il Is truo part Of tho means sta
ted not immediately available consisting oil
stock aud county bonds yet Is believed that compare
lively small SUN will be ultimately lot the
oven from these sources Nevertheless Of these can
DO Immediately made available excepting the carninps of
the road aud tho funds from this already
90 far anticipated a. to he unsafe to make any additional
draiis upon It for some time to come"
The President confident that will not REQUIRE more
than 100000 to complete the road. lie believes tht
even that amount would not DO required exclusive Of the
revenues Of the road uuess mouey could be
to push tho work through in . few months 10 vlicn
event no hid would DO needed from the profits of The
road lie estimated the Of completing the road ex
elusive OF buildings snd other fixtures at $500 600 and
was OF opinion that The gross annual receipts would
badly reach 100000.
The President goes state that the great pressure
upon tue Company At the present moment, the want
OF means to pay our obligations, in ufment Of the
egn contract ot iron rails also tho duties on $50 ton,
IN custom house bond to put in companys posscs
non aud under its control The sum immediately required
to close up tho iron contract is about OOO $7OOv
to pay Tho duty on cargo in bond wanted Tor prss, n,
use MAKING the amount required at once $i2 600 I'm
less W. provide the of the
due on this iron contract, It will seriously embarrs,s the
company, and may involve loss in damage. Thai II
would he difficult estimate.
provide Of S ~. 10
Ss Ss s a Of January mex. say ea.oo There
%en.s as- in the form Of negotiable notes,
%,.s1y d The rad valley The no
Ming 100 mil. so as to s.irse,
s a: se o Sah c1S i ., that ss and taking in vide
revenues OF the road can furnish
Ss %sI"
ability Company aee, T wit" certainly
A. an ssss OF the S sais s,s
,st with ,er, q 81. KS svsn !; Is .ss, In
Of tes9 u and that too .i,hout the any
increase In the running distance tu: days with very
crop OF r'ea;eo and not much crop
President referred to the inexpe,iene, Of ..,,s a.,
o. ihs Company any uI,her unless
onei WISDOM public spirit generous coincidence in The
Sn.rrp ,.e AMI Their own abundant means,
rns spor! OF the eonnit;ss appointed examine the Pre
,."s m. none, ,-aa,a BY the mailing Of
ts If Themselves, upon the bons sf the
oond. ware aa.hs,sd be already II mi, Is no,
e 70 the Company would be the result th
aud tina; those would take Of he
upon ON at 90 s l., Of January The
," was in cash. and the
ne Hoh'hs Lesoi liable notes being given for the
ierrtd payments