Kanawha Valley star. [volume] (Charleston, Va. [W. Va.]) 1856-1861, 1859-11-07

tsQtti - lttc4 OuSIlt ~ ~ SttC.
j The business of the canal would hav
been larger during The year. but Tor ID
'Idisastets of The .23I June and 2oth Sep
1iember.
Ess5 The receipts on account Of The. canal
fffom Richmond 10 Buchanan, we're $I99.
llO6a 23 Disbursement Sl4I, 450.I3.-
Net income s47.6l2u7 The total ex
lpense Tor de general administrations
lthe company isHcharged g this account
The toll gatherer's statements sIlo,
The actual tonnage. Of gross weight~c
1.-THE properly conveyed on the canal. +
have been 2c6 295 ions: which u equiv
talent ID Is. 948, OF tons conveyed Oh
mile, and equivalent 10 SO. "a Of throngl
Tonnage. Tie average rate Of toll pc
ton per mills was one cent aud one-tlir,
Iof 4 mill.
A trade il cotton has been inaugurated
which promises to grow into importance
Uonsi gnments have been made By plant
ers in North Alabama. Mississippi am
Tennessee. with the view of testing Rich
mond as = market. The result is belies
ed 70 have been satisfactory.
There Is another interest which lis es
lpecially alluded 10. 4 Excessive irol
works have been located ~ Yves ham. D,
1.-The canal, Eve miles abpve Riclrmond w.
Commenced ii Ft,b nafy last, they ar,
expected 10 be 6liiisled early next yeai.-
lItia ealculs;ed that the production Of pit
iron will Be about 10000 tons per year
with ono stack OH furnace. The eslah
Iishment, however, is designed for paii
ISpf furnaces. which will double The pro
daelion. The iron ores and limestones
OF marls are oblained al various points or
the canal, at distances from the furnse,
varying from 40 TO 1870 miles, Thu
quantity required, nj present for . siayle
stack will be about 25 600 tons ofiron orr
per annum. The limestone or rnarls used
wiiIabe about 5000 tons pr annum.
The Goals. yof which about $4,000 tons
per annnnf will be required, ate,o be Oh
lained from the Richmond coal field,
which crosses the Iineiof the CANAL eighi
miles above Wes;ham. 81. ~ Il
@ Sill another advantage to the water
line has been lately developed. inf1he
discovery IL the black oxide OF nangan-
ese, ON the North river, and on The main
line between Ind mouth ofXta1e North riv-
Ell and Buchanan : Il is attracting atlen-
lion. and capitatis seeking investment in
it, Since the first week in September.
when the first shipment was made, to The
present time. including The suspension u
navigation which resulted from the casn.
.aIity Of the 2athof September, about 4g6
barrels have been received al ,Richmehd
BY the canal shipped hence % New<YeFs
and thence lo Europe. a "
On the south side cennectionsI Inc rel.
ceipis have been $368.75: theaisburse.
inents for insurance, $3.50 for super;
structure Of the New Canton Bridge,
ga It's, 43. HI
On the Blae Ridge turnpike road and
ferrys receipts, sl82. SO disbursements.
S676 SIS. III.
The Riyang Connection sustained dam
ages by the1september Treshet. but notsaf
i serious hatactef.s II is much to Be Fse-
gretted that the Improvement is not com
pletsds 10 Charlottesville. $50 VI
The financial statements Of The seereta-,
~ show the entire receipts and disbursef
menIs Of the company fofe The fiscal. year
10 have been follows Receipts.
sa7a552 81. Disbursements, $3.50
270.23 sBdlance, 3oth September, 8 So.
$50. 286 98. Il
with regard To- the offers from an as
soeiatiou Of French capitalists. namely !
First 10 BUY out The works, property
and fanci1ises offhe company; otl,ai
they and thefr associates may become The
Successors II the James River and Kama.
wha Company, enjoying all it's rights and
privileges, and beund BY all its obliga-+
tons. i u ~ n
Second 'ro4iease for 4 term, or ia per-
petuily the works Of the company, finish
ed and unfinished with The rightsto com
plete Them aceoFIing 70 the charter ard
plans ofihe company : Nj
81 Thifd-To loan AN amount of capital.
upon adequate security, sufficient 10 COM
pIete ME Improvement TO the Ohio river J:
Fourth-To undertake as contractors
% complete the work. receiving in pay;
ment the bonds of tile company. satisiae.
torily secured. lhe usual iorm of contract
being observed, with fullsright OF control
On the part Of the company by lis officers
and agents.
The board can only reply, that the
company is nottin condition 10 act with
out The previous or. concurrent action or
tile Legislature. Nevertheless they are
brought TO the notice of the stockholders
for sach action pr their part as may be
deemed proper. Eli
The report closes as follows
Without 9etaining the Stockholders By,
or statements Iof tacls and cir
with many Of which tkey
ire unhappily loo familiar. and .presunl-
iny that The Legislature means 10 prose-,
rule an Improvement which Promises
when completed. 30 full and rich 4 return
Ior all that has been or can be reasonably
expended upon il. and believing that The.
public and privale, which are.
seriously affected Nbv the presentexhaust-
"a and burdened condition Of the compa
ny, ought to find Irelief. in some just and
proper form, At tie hands Of tie repre-
OF the people, the beard recon-
mend that application be made 70 the
next Legislature first, tp pay the inter
ffsff II j s ~