Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1858-06-09
e., and O, Canal Company.

at the city hall at noon to-day, Lawrence J.
Brengle, esq, President, in the chair The
officers Of the company recently elected were
all confirmed The president read his first
annual report, which was listened to atten-
lively and accepted. This report refers to
tho recent incumbency of the present board
of president and directors, who assumed
control OF the affairs of the company under
the election made on the 18th of March last
and, the author remarks, "precludes more
than & brief review OF the condition IN which
We find its business operations, in prese nting
this thirtieth annual report to the stockhold-
ers ."
1--WE regret the discouraging aspect we are
constrained to present, both as to the condi-
ton Of the canal, the finances of the company
or the immediate prospect of relief from its
present embarrassed state"
Ii is known TO the stockholders that from
the ice freshet in the spring Of 1857, dams
Ms. 4 and were ruinously injured. requir.
ing great expenditures for repairs, and sever
al months time to restore the navigation, and
in the moanThile the company we're, IN
great measure, deprived of its revenues
Whether these disasters could have been al
toge her or in part avoided by timely pre-
caution and efficient management, We cannot
pretend to say, as it is believed by experience
ed and well Judging persons who were fsmil-
lar with the condition of these dams, and
who represent them as then in as good con-
ditiou to resist such freshet, with proper care
and moderate expenditure, as they had
hitherto done for the past ten years; or.
whether from iuexpeTience or inefhciency OF
the parties engaged in their restoration; GER
- -, 81 - N, hos ipvn lpai
tho company in loss from extraordinary
expenses incurred, and deficiency of reven-
uos, which may fairly be estimated at $780,
600.
The action ofthe board which Immediately
preceded this board, is referred toin its change
OF the organization and what are assumed TO
have been its effects, sc.
The present board have restored the for
mer organization Of the line by establishing
six divisions, and, with two exceptions, have
adopted the experienced superintendent
which preceded those of the last board
From John Co. Stone, esq, as engineer and
general superintendent, efficient services are
anticipated. This organization and renewed
energy, yigor and economy, will, it is hoped,
result in a more reliable and less interrupted
navigation. Dams four and five are still 10
m st precarlOus condition.
The President then refers TO the contracts
entered into by the late board to replace the
two old dams, the causes Of delay, &C., aud
SAYS the amount expended in these repairs
70 the first OF April last has exceeded the sum
Of 100000. Dam No. 4, on which breach
has recently occurred, may take two weeks
more before navigation can be restored
Dam No. 5 is more secure, and it is thought
may be relied upon for some time e1ceptin eI-
IraordInary frcshets. About one-iilth Of the
masonry or lGO feet ~ length of each CT
these dams have been completed, and with
adequate means, estimated at 100000. it is
believed that both structures could be so far
completed during the present season as to
render them secure, and the navigation reli-
able
In the absence Of present means. or the in
mediate prospect of procuring sufficient
amount for both dams, it is thought advisable
to apply all the resources at command to the
extension, and, as far as practicable, compile.
tiOn of dam No. 4, as being more unsafe and
less reliable than dam, No. 5; but that both
dams should be completed as soon as means
can be obtained, the board are fully sensible.
According to the estimate Of the engineer
and general superintendent, the work done
q the lst of June on the new dam No 1
amounts to S34, l4l Gj, and on the new dam
No. to SO $40 so Ofthese amounts SAL
Isl j3 have been paid to the contractors -
o her portions Of the canal are represented
t. have been dctericr4ted during the past two
years, and to require the utmost vigilance to
maintain successful navigation.
The slide in the rock in November, is next
noticed.
The steam pumping machine erected at the
mouth Of the south branch of the Potomac
has been completed, under contract with Mr..
John Bea!e for reconstruction. 1t has work
| ed very successfully. It's working capacity
is equal TO the ready discharge Of $500 Gu
bio feet CT water per minute into the canal
with both pumps in operation; aud it can be
made to discharge 3 600 cubic feet per min
ute, il desired. With one pump worked reg
ularly 400 cubic feet per minute NAV be
readily discharged into the canal. Until the
! trade Is augmented it is believed this supply
at this point will be adequate in seasons of
! greatest drought.
The present financial affairs from the let
Jan, 1857, to 3lst Of March, 1858, when
their official term commenced, are thus
shown. Ga the 1t Of Jan, 1851 after the
payment Of oil current expenses for repairs,
salaries, current interest, &C., exclusive of
arrears Of interest due on the bonds of the
company, there remained 10 the treasury an
unexpendcd balance Of $j9763 G6
| Receipts tor tolls, rents,
&c, rom list Jan,
81, to 3Ist Dec 81 $3.50 90
| Do do III Jan. TO Sd Of
March, '5S. ........ $500 W 1913 90
! Loans procured from
parties connected
with coal interests,
10 be refunded from
tolls aCcruIng in IS, 1880 90
! Loans from banks and
corporatons~....... 10000 90 1850 %
! Balance on deposit
available April lst
''JS.-.-....... ....... iJJ 70
| No'c. received for tolls
accrued II 1857, all of
waicn nave been paid
since April. 1855. lD.y5S 27 1888 81
S434,D3O 45
! The amount OF expenses of the company
for the same period have been returned, say
from the LIST OF January, 1851, to 3lst of
March, 1853, as follows:
Work on dams and 5,