Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1859-11-01

anu inc receipts ol lumber rose from h,Jll,i2o
feet to 1883, i23 feet.
IN the outward trade. the board remark with
satisfaction, bccausc indicative Of the progress
Of the industrial interests Of Richmond, an in
crease Of more than juG bales of domestcs, OF
more than 1000 kegs Of nails, Of nearly 1000
tors Of iron spikes, and \ shipment Of - steam
Saw-mills
The receipts Oh account OF the dock have
hecn--from dockagc S!G,il5.ST; disbursc-
mcn,s, ST,95SJl; net income, 3S,45T.&&3
The receipts from lock tolls have been
$2,Tl409, and the disbursements OH account Of
the five locks OF the liGcwatcr connection. for
repairs Sll0.T9: for salaries OF agents, $5IT.3i.
In evidence Of their disposition 10 AID the
company, and to afford every facility i'll their
power 10 the community affected by the I'M
provcment, il is mentioned that the President
and five Of the Directors negotiated a! one
time, upon their individual endorsements. with
tho banks in Richmond, 4 loan OF one hundred
Thousand dollars COR the accommodation OF the
company. While the whole Of this debt has
been paid, they are still responsible upon SIM
liar endorsements, fer = considerable amount.
Ii is not, however, 50 lnucit the pressure from
this source as from the large arrCa-agc, duo by
negotiable paper O; business character, aad
by bonds, pay rolls and accounts constituting
tEc floating debt, 10 which the board, in
the report, refer; and they therefore call the
attention OF the stockholders and the Legislature
to various facts, showing tina; since the last an.
nual meeting system 81 thorough re.Tcn:hmcn;
mas bees adopted. Comparing the existing or
ganizaion with that ot the list January, isjS,
reported br the President 81 the Speaker al
81. =,
made 81 ;incty.iwo III tie r'luhar %! officers,
agents ard cnporecs il th; service % the
company, and i:ningtjon Of $2s, ,Tgo in the
compensation annually paid t. or ;gc them.
Reports from the supCrintcadentS .! repairs
on the lrat and second divisions Of the canal,
aud from the chief engineer, sho:" that; not
withstanding the many adverse circumstances
affecting the administration %; the company,
the main improvement ms been kept IN s"uc.
raj good order.
The board regret 10 say that tie anticipa-
tons which they InduiGCd at the date Cc their
last annual report. .. an increase o; revenue,
have not been realized While there has been
cain in the tonnage during the iscal Year OF
9,3ii tons or Il per cent. there has been
fll!n. Of in tolls oi $50 GS5 81, Of Il per cent.
independently = OF other causes. this IS the NJ!
in part, as the board are persuaded o: nsodlii
cations III tho tariff nj tolls, wtIic!i they had
hoped wcro at an oni. Previous 20 the last
annual meeting. under tilc tariff ol July 1913
and lis modification, there seemed 10 b. Z stca.
IS ncr, asinc business Oh the canal. and there
was All actual gan OF revenue Tor tho quarter
cud.ig the :o;h September lsjc, compared
with the corresponding quarter Of the preceding
year, Of S3,ojl.25. The quarter ending the
3lst December. however. showed & falling oi! Of
SO l32+j in tolls dough Only q! 5000 tons
IN freight.
The report a..rlcS at length TO the reason
which influenced the board in declining to
unite in tho scheme adopted By the Chaita
nooga Convcatiou in November last, i2g = t'-
rlif Of through rates OH goods and produce y
draw back or abatement from the usual tolls.
was, however. allowed il favor Of an party
who might make such al arrangement, 80 far
As the canal was concerned. Some objection
has been made that this action ou the part o!
the board is discrimination agairst Richmond
in favor Of the Northern cities. Admitting il
to be So tire board regard it Us the means Of
retaining or attracting 70 the cana! trade which
would probably otherwise be lost. The rates
adopted at tie Chattanooga Convention were
determined with reference 10 known rates OF
competing routCs--ag for irstincc, from New
York by sea 10 Charleston Or Savannah, and
thence by rail 10 the intersection of the south
western line at thattanOoga-oT from BaitI
more, bv railway 10 Wiirciing or Parhersburg,
and thence BY steamboat to Nashville or Mem.
phis. Superiority is claimed for the route
through Virginia, in reference TO which quo
tatIon from the report OF the President Of the
Virginia and Tennessee Railroad Is introduced,
II is then remarked that the water line is par
alcl to that portion Of the railway linc extend
ing from Norfolk 10 Lynchburg. It vas the
interest Of our company 10 secure il possible,
tho traffic which might otherwise pass over that
portion Of the through route. and the board,
under the instruction of the stockholders of the
Sth April, ls5s. fcl, no hesitation rs 10 the
course they Ought to pursue.
The h;i,;Gc,S Of the canal would have been
large. during the year, but Tor the disasters Of
the 23d inc and 2Uth September.
The receipts on account Of the canal, from
Richmond 10 Buchanan, were $lS9, ,O62.2 go. Dis
n;.rscmcnt 81, .4jo Is. NctlucOme 81 6l20,.
The total expense lor the general aalulni,tTa-
ton o. TIC company Is charged 10 this account.
The toll gathcrurS statements show the &C
i,iai lonns,c, or gross weight Of the property
conveyed OF :hc canal. 10 have been 2ot', ',2Jj
tons; which is equivalent 10 lJ,Gis, 0IT tons
conveyed one mile, and equivalent 10 81, lji Of
through tonnage. The average rate Of toll per
ton per mile was ono cent and onc-thIrd OF
mill.
\ trade in cotton has been inaugura,ed,
which promises TO grow into importance. Con
signmcn,s have been made by planters IN Nortn
md ,rI fin
ycw Of testing kIchmoni as Z market. The
result IS believed TO have been satisfactory.
There is another :nlcrcs: which is specially
alluded tc. Extensive iron works have been
located ~ Wes,haUi, OF the canal, five miles
above Richmond. Commenced in February
last, they are expected to be finished carly next
year. |, is calculated that the production Of
pix ircn will be about 10000 tons per year,
with one stack or furnace The establishment,
however. is designed ior 4 pair OF furnaces,
which will double the production. The iron
G.cS and .!mcStcGcs Or inaTlS are obtained at
rarionS points on the canal. at distances from
the furnace varying from ~ 10 $50 miles. The
quantity required ut present Tor single stack
VIII be about 10000 tons Of iron ore per an
num. The limestone OF Iaaris used wall be
about 1900 tons per aunum. Inc ccais, CT
which about 1000 toas per anIuln viii he re.
qnircd. are to be obtained from the R,ciIn"ad
coal field, which crosses the .;rr o? the c.aa!
ciSh. miles above Wcsthaiu.
Still another advantage to the water inc has
been lately dc:eloped. in the discovery Of The
black oxide OF manganese, 0u the North river,
and on tic main line between the mouth 81 the
North river and Buchanan. Ii is attracting
attention, and capita! is seeking investment IN
it. Since the first week in September. when
the frS: shipment was made, TO the present
time, including the suspension o: navigation
which resulted from ;Ic c1SGallty Ci tic 10Th
Of September ABOUT t21 barrels have been re
ceived at Richmond by tic canal, shipped
hence 20 New York. and thence 20 Europe.
On the south SIDE connections, tic receipts
have been s3GS15; the disbursemen;S-ior
insurance, $3.50: tor supc.s;ruc!urc Of .aH
New Canton Bridge. $i.lIa IS.
On the Biuc EIdrc turnp!kc road and f.rrT.