Kanawha Valley star. [volume] (Charleston, Va. [W. Va.]) 1856-1861, 1858-07-27
4 Aanlpba uaIIta Star"
CHARLESTON, TuEsDAs. JULY q, 1855
Kaaawha River improvement

r
formed that agents were appointed By Tie
Board. 70 negotiate, md make sals d
e Kanawha River Bonds upon the
terms prescribed last winter By an act d
TIA Legislature-wi with tho proceeds d
which Bonls, tlIe navigation Of the Ka.
naWhais 40 DO improved.
i. roper esertions are made. We dare
AZ y 4 ISs,t lfifty thousand dollar,
(s5a,0OOl w these Bonds can besold ii
! short time. Tho provisions Of Che
Legislative act are sueIi as to make ill.,
vestnaents in these Bonds not enly sat;
and secure, balt also profitable, Letus fol
4 moment hook at these provisions.
The act provides thar The Kanawhs
River from Loup Greek Shoals 10 the
Mouth Of the Kanawha River, shall Be
phdor the direct control and supervision
of tho !. Kanawha River Board, /" who are
Eesiien:s Of the Kanawha Valley.
II authorizes the James River and Ka.
.nsawha Company q Issue kanawlta
Rivsr Bonds' for the improvement Of Tile
navigation lof the Kanawha, and make
saich Bonds bear seigdt per cent interest
Pr annum. and to sell the said Bonds at
ten,per4cent discount,
SIt further provides that tie tolls now
due and those arising from the Kanawha
Href for al Tine 70 come. shall, afterpayE
iilg current expenses. be applied solely
aid exclusively to the payment Of the int
teresE and Pfints pal Of all such Bonds. 4
III autho. ges the James River and Ka4
lnlaWha Company to execute q mortgage
az The entire works, Of the Kanawha RiY-
\ CT. ling any works hereafter con
stIuct~a and also on the tolls now due
Aahsl those that may hereafteraccrue from
Hthe said works, for the purpose Of secur-
ing Gle payment+of the Kanawha River
Bonds. IF
II Tho act also provides that al ions,
and prior claims that the Commonwealth
has oil the works aforesaid Of the Kama
via River, between Loup Greek Shoals
and tho mouth of the Kanawhai shall be
suspended in favor Of persons and parties
holding the Kanawha River Bonds, until
the said Bonds with intsrestlth shall
lave been fully paid and discharged.
Such arc the chief provisions Of the
Hill passed last winter by the Legislature
concerning the Improvement of The mar
igation Of the Kanawha Riyer.4ks RI
When we consider that the tolls. in |
Tile present condition ofthe navigation Of
tile kanawha River, have frequently
amounted to $4,000 and upwards per
annum, and when We consider that 4
Bond bearing 8per cent per annum in,
teFests and sold Al 10 percent discount,
isaboat equivalent y an Investment bear
ing 10 percent per dnnans iatersst and,
when We consider that The tolls ancrGingf
from the River tor all,tinee tocoa.es are to |
beIappFed 70 the payment Of the interest
ana principal Of the Bonds that are to be
issued and that the entire works Them
selves. IS well as the tolls are to be mort
gagea NJ secure the payment of said
Bonds !; we have no hesitation ill saying
that the purchase Of the Kanawha River
Bonds viii not only bela safs and secure
investment. but also , profitable invest
rnent.
Nest assurdly the frt Bonds that are
issued will Be 4 safe, secure. and pro6ta-
BILE Investment, for the 6rst Bonds issued
will BE- secured By the. frst mortgage.
With these facts presented to the peo-
PIP VI the Kanawha Valley. can they moi
pe induced to purchase ten thousand
dollars $40. ooo) Of these Bonds } Can
not .FGifseI men in Mason County be- found,
each of whom, will purchase d $500
Kanawha River Bond !? III win cost
$3.50 in cash, and the purchaser win
set s 1per cent interest per annum on
$500 and will eventually get the princi-
1psf. $500. Are there not fDe men in,
Putnam County. who will each likewise
purchase 4 $500 KanaWha River Bond n
lICan hot The County Of Kanawha furnish
stes purchasers, each of whom willItale i
$500 Bond? We believe il can all Be
done, We know the people Of this rich
and populous Valley are too much alive
toIthsir interests, to fail ID lend \ helping
hand ~ an Improvement ofsuch vast i'm.
porlance tothe future growth and aeyel-
opmeht of this portion OF Virginia. They
will purchase these Bonds.
So much therefore for the Sale 81 s. 10. 7
900 81 the Kanawha River Bonds. But
Ithe JR. q X. Company should make Ale
hofatleast $50. 600 ofthe said Bonds, before
they 5sgia toimprove Tie navigation and
- whom are the remaining 8 FAC. 900 81
Bendsto be sold? They can be easily