The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1857-10-29
JAMES R1vyR .np K.r.wY. co.n.xv

| oAhss nlfEH AND hANAwIIA COMPANY
| tDJ,rrea fToceedi"gs-The meeting OF the stock
holders convened on Tuesday, the 9Th inst. agree
able TO adjournment SAMUEL Med RyIn again
presided as chairman,
oo'. TALisRERRo, the chairman Of the Select Com.
mm1.tee, m presented and read the following report:
Inc committee to whom was referred the Report
/ OF the President and Directors of this connany
with the accompanying documents have given
them their careful consideration and beg leave 10
| report -
| That the steady increase of revenue derived
from the Richmond dock from the first year of its
operations TO the close of the late fscai year ex-
hioiting progressive gain IL near 10 per cent OF
sdch snccessHe year over the preceding, and mani
lssthg an extraordinary increase in the trade aud
shipping OF the city of Richmond. is a subject OF
decided congratulation to the friends Of this i'm
provenent.
Your committee, in this connection, however. in
view OF the TACT that by the conditions of the ap-
preparation to this work all passenger and freight
boats, with their cargoes, navigating the canal
from any point five miles or more above the city of
hicbmond are allowed to pass through tire dock to
any point below Bermuda Hundreds free of charge
ior dockage and lock tolls and all such boats re-
turning and destined for any point five miles or
more above the city of Richmond are in like man.
ncr exempted from such charges, except the ordi.
nary tolls for one mile of the canal, regarding the
operation of this law likely to work an piustica
to the shipping interest and trade of Richmond hy
discriminating in favor of all shipping ports below
bermuda Hundreds have determined to bring the
subject to the notice of the STOCKHOLDERS, with a
view to the more mature and critical Investigation
and consideration of it by the Board of Directors
Inc suspension of the work upon the third dv-
SION, was matter Of absolute necessity and is
therefore approved at the same time it is to be
ardently hoped, that the General Assembly will
adopt such measures for the relief of the Company
as VIII enable 1t to resume operations at the earl-
est moment that the financial condition of the com
monwealth can Justify its prosecution.
The necessity of affording every possible facility
TO the trade of the kau4Wha NaIt hy. .bo
proyement Of the kanawha River, is forciLly urged
oy the board, bnt 1t has been found impossible to
reailze the means of rendering The immense re-
sources of that wonderful mineral region tributary
" shls work, unless some modification or amend
inent OF the existing act can be obtained 1t i,
therefore recommended that the Board of Direc tors
lie instructed to apply to the Legislature for such
change may subserve the interests nf the Com
pany
Your Committee recommend that a resolution be
adopted ratfyns the action of the Board of Direc-
tors In purchasing the works and property of the
North River Navigation Company. 1t was an ac
OF necessity, the best means OF securing the nay
| ment of a debt which would otherwise have been
| unavailable. 1t is believed that the contracts on
tered iato with that company are sufficiently
guarded TO protect this but it is essential that an
pcation be made to the Legislature to pass AN ac,
| confirming the purchase and guaranteeing the
transfer OF the franchises of this company.
The Beard Of Directors should be instructed to
petition Tor the passage of such an act and be an
tnoiZed thereafter to contract for the prosecution
of that work on the credit of the company shoul,
! they be able to do so advantageousy
| The condition of the Company is such as to rem
der an application to the Legislature necessary f,,
| the payment of the interest on the bonds of thi,
| company guaranteed by the Commonwealth which
| was due last Jnly and will become due up to Jan
uary 1859, inclusive.
1t is to be hoped that the mission of the Hon
| William Ballard Preston will prove successful Gu,
rebound to the interest of the several public work
of the State. 1t is recommended that the action o
| the Board in connection with the proceedings c
| the Bristol convention be approved.
| The Committee recommend a rc-affrmation 0
the approval of the Stockholders of the scheme .
conversion Of the debt due the State, and tlr
| guaranteed bonds into stock, which has offer
beeI presented by the Company.
1t is IL question of the first Importance to thi
| Company. that the connection of the great work
of the State, the Ccyington and Ohio Railroad ant
the Central Railroad, should he at some poin
which would afford proper facilities to :he tran fe
| of tonnage from those works to the Canal au;
that subject is dccIded worthy to be brought to th
notice OF the Stockholders.
| The Committee therefore, in conclusion, with re
ference to the several subjects reviewed above
recommend the adoption Of the following resoiu
tionS viz:
| lst Ee&clrcd, That it he recommended to tin
| Board Of Directors to consider the eypcdPncy o
| exemptng all Canal boats and barges with the
cargocS from all dock charges other than the regu
lar tolls upon the Canal.
| 2nd RcSicr.i. That the suspension of work oI
the Sd division be approved.
| ;,rd. Ks@irfi, That the Board Of Directors appl,
to the Legislature for such modification. or amend
ment OF the existing acts, providing for the im
proveneut of the kanawha river, as in the opinion
of the Board viii be acceptable and effective
ith Ecsa'yv,i. That the purchase Of the work ant
property ofthe North River ayioaton Company b.
ratified. and the board OF directors nstructe'
| to apply TO the Legislature for such enactment "A
sha be necessary TO perfect the sale and transfe
| ,F t,a Is nd fran of ha North Nny
igation Company to this Company.
9th. RcS{red That the board Of directors app
to the Legislature for provision for the payment {
the interest which was due in July last, upon tn
bonds of the company granted by the State, au
which will become due i'll January, lSjS, July, ls5s
and January. 1873.
9th {!eSojgett That the resolution of the Las
annual meeting. authorizing the board Of director
to negotiate and arrange with the Legislature f0
the conversion of the debt due by the Company
and for which the State is bound security, int
stock Of the Company. is reafhrmed.
7th. RtSo{rcd That il is essential TO the interest
OF the James River aud Kanawha Company, and I
the of the central Improvement of the State
that the eastern terminus of the COvington an
Ohio Railroad, shall be at place which will affor
ample facilities for the transfer of freight TO an
rom the three lines of improvements; and that
connection should be permitted between the CO
vington and Ohio, and the Central Railroad, at n
point which will not allow full and fair partic
patton i'll the benefits of the State railroad, by til
James River and haDaWha Company.
sth. Resolrcd That the participation Of this Com
pAny in the objects of the Bristol convention, an
the action of that convention in the selection of tn
! Hon VIM Pallara Preston as Commissioner, be af
proved.
MIR. Grattan offered the following resolution
which adopted:
ReSolred, That the Governor of Virginia, be an
lie is hereby requested if consistent with his view
of the public interests, again to commend 10 til
General Assembly, the conversion OF the debt {
the Company due 10 the state, or for which tn
State is responsible, into stock of the Company.
On motion OF Mr.. t'rattan, the following gentl;
men were appointed committee TO examine tn
books and accounts Of the Company, for the pre-
sent fiscal year:
Messrs. Lewis Webb, Charles s. Mills, Samue
Marx, Lewis d. Crenshaw, and Thos. W. McCance
On motion of Mr. Grattan, the meeting proceed
ed TO the election of President and Directors fo
the ensuing year.
On nomination by Mr.. Taliaferro, seconde,
by Mr.. Grattan, Col. Thos. IL. Ellis, was unan
nousy elected President.
Mr. Grattan nominated as directors Col. Thos
" Bondurant and Wm. ". Boyd, Esq, and the
were unanimously elected
The meeting then adjourned si'ie die.
PARADE OF TIE RICHMOND FIRE De
rARTMENr.-The FirHmen connected with the De
| had MI % r.I rur rIay Y