The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1859-10-28
animal Report of the President and Dirre.
tors OF the james River and Kama ,vha
COMPANY.

year ending 3oth September, 1859, contains
mueh interesting information.
There has been an increase of 81. .73g * in
.ne revenue, from the Richmond dock: and in
the ntssaber OF boats and vessels which have
eatereo the dock. an increase OF SO, compared
Win the previous fiscal year. The gain of
revenue, in the five years that the dock has
peeh In operation, is 40 per cent, comparing
tne M year and the last
Inc increase of the trade with Baltimore is
paricnlarly observable. Although another
hrst-ciass steamboat has been added makinv
q tri-weekly line between Richmond and
Daitimore, the number of vessels which en-
u aered the dock with cargoes from Baltimore.
uuflng the years 1857, 1883 and 1859 has been
respectively 81, 20, and lIo.
uFther additions have been made TO the
NUMBER of barks owned in Richmond. and
regularly employed in the Rio trade; and the
arllcie OF coffee imported from Brazil shows
an increase OF l2,65s bags-the number of bag.
imported in 1858 having been 2O459. aud the
mum Der in 1859, 33, 1877.
There was an increase in the receipts of
guano during the year, of nearly 2OtU tons
and the receipts of lumber rose from COIL ao3
feet to 81, $50, 1913 feet. -
In the outward trade, the board sfemark
with satisfaction, because indicative of the
progress OF the industrial interests Of Rich
mond, an increase of more than 500 bales of
domestics, of more than 600 kegs of nails of
nearly 1000 tons of iron spikes, and ship
ment of - steam saw mills.
The receipts on account of the dock have
been--from dockage, Si6,4l5.S7. Disburse-
ments-S7, 1854. Net income-S3s 457. .33.
The receipts from lock tolls have been S2,-
7l409, and the disbursements OH account of
the five locks of the Tide water connection
for repairs, Ssil0.79: for salaries of agents,
$577.3i.
In evidence of their disposition to aid the
company, and to afford every facility in their
power to the community affected by the i'm
provement, 1t is mentioned that the President
and five of the Directors negotiated at one
time, upon their individual endorsements,
with the banks in Richmond a loan of one
hundred thousand dollars for the accommoda-
tion OF the company. While the whole Of
this debt has been paid, they are still respon-
sible, upon similar endorsements, for a con-
siderable amount. 1t is not, however so
much the pressure from this source as from
the large arrearage due by negotiable paper Of
business character, and by bonds, pay rolls
and accounts constituting the ''floating debt, -
10 which the board, in the report refer; and
they therefore call the attention of the stock
holders and the Legislature to various facts,
showing that since the last annual meeting a
system Of thorough retrenchment has been
adopted. Comparing the existing organiZa-
| tion with that of the 3ist January, 1858, re-
ported by the President to the Speaker of the
House OF Delegates, a reduction has been made
OF ninety,two in the number of officers,
agents and employees in the service of the
company, and diminution of S23, ,793 in the
compensation annually paid to or for them.
Reports from the superintendents of repair.
on the first and second divisions of the canal,
and from the chief engineer. show that not
wthstanding the many adverse circums tances
affecting the administration of the company,
the main improvement has been kept in gene
raj coed order.
The board regret to say that the anticipa-
tions which they INDUCED at the date of their
last annual report, OF an increase OF revenue
have not been realized. While there has been
4 gain in the tonnage during the fiscal year OF
9,3Oi tons or A. per cent. there has been fall
| ing OFF in tolls of S30,6e3Si, or IA per cent
independently OF other causes, this is the re-
| suit in part, us the board are persuaded, oi
notifications in the tariff OF tolls, which they
had hoped were at an end. Previous to the
| last annual meeting, under the tariff OF July
| 1875 and Its moGlflcatlons, there seemed 10 he
| steadily increasing business on the canal, and
| there was an actual gain of revenue for the
| quarter ending the 30th September, 1858, COM :
pared with the corresponding quarter of the
preceding year. OF 81 ,05l %. The quarter end
| ing the 3ist December, however, showed fall
| ing off of SIS, ,132.45 in tolls, though only OF
| 1850 tons in freight.
The report alludes at length to the reason
| which influenced the board in declining to
unite in the scheme adopted by the Chatta-
Eooga Convent tion in November last, for q ta-
| riff of through rates on goods and produce
A draw back, or abatement from the usual
! tolls, was. however, allowed in favor of any
party who might make such an arrang cement
so lar as the canal was concerned. Some OBJ
| lection has been made that this action on the
part of the board is n discrimination againsi
Richmond in favor of the northern cities
| Admitting it TO be SO, the board regard it as
| the means of retaining or attracting to the
canal trade which would probably otherwise
| he lost The rates adopted ut the Chattanooga
| Convention We're determined with reference tC
know rates on competing routes-as for in
stance, from New York by sea to Charleston
| or Savannah, and thence by rail to the inter-
| section of the southwestern line at Chattanoo-
ga-or from Baltimore by railway 10 Wheel.
IDt or typrS I'M lrp -
| to Nashville or Memphis. Superiority Is
| claimed for the route through Virginia, IN
| reference to which a quotation from the
report of the President of the Virginia
| and Tennessee Railroad is introduced
| II is then remarked that the water line is par
| allel to that portion of the railway line ex-
| tending from Norfolk TO Lynchburg II was
| the interest of our company to secure, If pos
slble the traffic which might otherwise pass
| over that portion of thethrough route, and the
| board under the instruction of the stockhold-
ers OF the Sth April, 1858, felt no hesitation as
| to the course they ought to pursue.
The business of the canal would have been
| larger during the year, but for the disasters o.
| the I'D June and 10th September.
| The receipts ON account OF the canal, from
Richmond TO Buchanan, were SlS9,0622J. Dis
| bursement SAL, ,i5Ul3 Net income Si7,6laO7
| The total expense for the general admiuistra
ton of the company is charged 10 this ac
count.
| The toll gatherers statements show the ac
| tual tonnage, or gross weight of the property
| conveyed on the canal, to have been 2oo,2st
tons; which is equivalent to 15,9 ,O1 tons con.
| veyed one mile, and equivalent to 81, 15l O.
| through tonnage. The average rate OF toll pei
| ton per mile was one cent and one-third OF
| mill.
| A trade in cotton has been inaugurated
which promises 10 grow into imp Or tanee-
| Consignments have been made by planters in
| North Alabama, Mississippi and Tennessee
with the view of les ting Richmond as q mar
| ket. The result is believed to have been salts.
| factory. There is another interest which is
| specially alluded to. Extensive iron works
| have been located at estham, on the canal
| five miles above Richmond. Commenced in
| February last, they are expected to be finished
early next year. Is is calculated that the pro.
| duction of pig iron will be about 10000 tons
| per year, with one stack or furnace. The es-
tablishment, however is designed for q pail
| of furnaces, which will double the production
| The iron ores and lines tones or marls are OBJ.
| tanned at various points on the canal, at dis.
| tances from the furnace varying from 40 to lst
miles. The quantity required at present for a
| single stack will be about 5000 ions of iron
| ore per anIum. The limestone or marls used
Will be about 5000 tons per annum. The Goals
of which about 25,oo0 tons per annum will be
required, are to be obtained from the Rich.
mond coal field, which crosses the line of the
canal eight miles above Westham.
Still another advantage to the water line has
been lately developed, in the discovery of the
black oxide OF manganese, on the North river,
| ouu On tHc uldiu iue petWeen lle mouth OF the
North river and Buchanan. 1t is attracting
attention, and capital is seeking inyes tment in
it. Since the first week in September, when
the first shipment was made, to the present
time, including the suspension of navigation
which resulted from the asualty of the 201h
of September, about 400 barrels have been re-
ceiyed at Richmond by the canal, shipped
hence TO New York, and thence to Europe
On the south-side connections the raceints
have been S36e.75; the disbursements-for In
surance, 945G; for superstructure of the New
Canton Bridge, S4,17543
On the Blue Ridge turnpike road and ferry,
receipts, Sis2s9; disbursements, $6s655.
The Riyanna connection sustained damages
hy q Santan ber freShaf hut ~ s1..ss..-