The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1858-03-15
~ ACr.



An ACT,
Y,oorsasas more E5eetaai Means for tse ,np,oee'
nssat 81 the Narya.ion Of ne kand.oha h'eer'
Passed February Is. ISIS.
BE II enacted. by the scnersl Assembly ga, sae
number 81 directors In the James River ana an,
hs Yomrsny shall be insrea .srs ~ WHOM shs be
app,inted By the Board OF PUBLIC VOL, n I've OF
s.ockaoders 10 E snsdiIb, By The stockholders
IN Ten raj meeting shall be elected oy I nv The
hoiers other than the state am W" That the three
sss,sssaai dirsslors 20 be appointed BY inc so,rd
II Publse Work. and rive q . .n.snts Of the kansw
ny Vsisy' and shall with the president o. the sem
Ssny, constitute board 20 oe nn,,m.,sd With ,hs
n,ss sssna cement and supervision OF the ka-
Sswhs Improyem mt; snpleet however. 70 the N,
az s.,bority now vested in the present board OF d.
sscsoss over the Kanawha river .hali be vested ~
"a he appointed; but said ksnawha Board Of Direc-
tors shall have no control over any Of the other
works or affairs ., said company. The kanawha
Saeut pro isapore, who shall preside and DISCHARGE
the other duties Of president OF the company. rela-
rrrsilent Three Of said directors, with the presi-
dent Of the COMPANY. shalt constitute quorum,
and IN The absence q the president ,ou. Of sad di
ha Board shall have power TO adopt such bylaws
and regulations and to appoint such officers and
asemeuf Of the kanawhs Improvement; provided.
that In the president of the company shall dit
fer with the Ksnswha Directors in any matter in.
voivins his opinion, the general interests of the
COMPANY he shall have authority TO call a meeting
o. hs two ncsrs 2. aie cn soge,nes ana submit
shaii be carried into effect The third director to be
elected BY the stockhoders including the State.
aforesaid, shall be member Of the board of direc-
tors Of the Jam - River and kanawba Company, az
at present constituted. and invested with full pow
ire James River and Kanawha Company are
hereby authorized TO borrow on the credit Of their
works on the kanawhs river, now existing and
nst revenues now on hand or due and unpeii. and
What may hereafter accrue tberetrom. sum sums
Of money sufficient TO improve the navigation Of the
Kanawha river, from the mouth thereof to Leup
Creek Shoals. aud are hereby authorized TO issue
their bonds OF certificates ofdebt pa yable at period
OF NOT less than twelve years from the issuing aud
date thereof. unless the company shall think proper
ss II debt shall bear al pate 0 op
oeedins the rate Of interest allowed by an act Of
che General Assembly passed March fifteen eighteen
Aundrsd and fifty six entitled IAN act for the relief
Of said railroad and ether companies and 20 regu-
aate the terms on which they may borrow money"
and the company shall not sell the said bonds
Fincsres at less than that allowed in the said
eee. The company are also authorized to apply the
Wha River from il. mouth to Loup Creek Shoals. d.
rectiy to the improvement OF said river.
The James River and Kanawha Company are au
thorizet and empowered to give mortgage upon
their said works on, and rights In the said kanawha
river. from Creek Shoals TO its mouth well
the works hereafter to be constructed under this
act, and upon their net revenues due in hand
and which may hereafter accrue from the said
works. for the purpose OF securing the payment of
the interest aud the ultimate redemption of the
principal Of said bonds or certificates of debt; but
the said mortgage shall give the power to sell the
said pro2eft thereby conveyed only In case of de-
fault in the payment Of the principal OF the said
ceme duo, and provides for the payment of the &C
rrping interes: thereon only from the accrulpg net
esyceee from said work, except such arrears Of n
terest as may be unpaid, If any, when The company
ssay make default Ia the payment Of the principal
which arrears OF Interest may be provided to be
than paid together with the principal from the PRO
mortgage; and sale Of the property shall MT
shen be made unles; i shall appear that the pay
within Ave years out of the principal of said bond,
cannot be made WI him five years out of the reve
nues 70 be derived from said improvement. Neither
the said bonds nor any other contract of the Kama
VIVA Bo ird shall be charge upon nor IN any man
that the state may hold GU said works. rights AID
revenues, are hereby suspended in favor of sucn
parties as may loan money TO said company FIR the
purpose Of this act, become the hold ys of said
bonds. until such loan loans. with the accruing
ed; provided, hoSeyer. when the debt with is AZ :
oruins interest Witch is herein authorized TO be
river. shall have been fully paid and dischar ged,
ne state sha be rsinstated to all the shts, priv
eges aud prorfies which she was entitled previous
10 the passage Of this act
The James River and Kanawha company are here
by authorized, when the impro vsment of the Kama
VIVA River mas been commenced, to collect on all
ticles transported the .Kanawha River in lieu of
the tolls now authorized by Jaw, such tolls as they
per ton par mile; but the toll on timber lumber and
coal shall not exceed onefourth of per ton
per mile; upon salt one-haIf of Que cent per ton
Per mile; and upon bar iron, pig iron, grain aud
Hour, one cent per ton per mile; aud said company
are also authorized to col ect rate of tol not
ceediug one cent per passenger per mile for each
psrson travelling on steamboats, on said river.
The james River and Kanawha Company shall
not be liable Tor injury to boats cargoes other
property Mt the point sundergong i'm provement un-
less such injury be caused by of ordinary care
work.
The act of Assembly, passed February fifth. eigh-
iz,ng tine James River and Kanawhs Company. TO
borrow money TO improve the Kanawha River and
70 pledge the tolls on said river for that purpose" so
changed By the provisions Of this act, is hereby
pealed, provided, however, that such repeal shall
not afeot the validity OF the pledge heretofore made
tolls rom the Kanawha River. for the Improvement
Thestockholders of the James River and Kanawha
Company, shall have the power in general meeting
a 1 Of a
aforesaid at any time they may deem it expedient
% n, 40 80 sfter the improvement Of the Kanawha
vided for by this act. shall have been completed
And THE act shall expire by its own limitation If
plated by 1t. shall not be commenced In good faith
on or before the first day of july eighteen hundred
thereafter, unless the stockholders .hall determine
In general meeting. before the expiration Of each
period 70 extend tine SAID perou Tor completing the
work Provided. however thatif this act should be
permitted to expire under the foregoing Limitation.
the rights and liens of the holders OF bonds that
shall have been issu and sold in pursuance thereof
shall not be affected thereby.
This oct shall be in force from and after the time
that the stockholders of the company shall accept
the same 10 general meeting. Provided that the Lee
Rislature hereby reserves the right any time here
after to modify, amend repeal the powers aud pri
Siieges hereby conferred, but the rights of parties
who may loan money under The provisions of this
act for the improvement Of the Ranswha River
shall not be affected or impaired by any su.h
amendment, modification repeal.
THE WINTER ApRoAD.-The winter appears to
laYa laaxa Ill E-alIa