Lynchburg daily Virginian. [volume] (Lynchburg [Va.]) 1852-1861, 1859-10-31
James River ana Kanawha Company
Annual Meeting of Stockholders.


Annual Meeting of Stockholders.
The annual meeting of the stockholders # th'
James River aad Kanawha Company wa. held il
Richmond citylast week. Tie following synopsi'
of the Report Of the President aud Board of ID
rectors will he read with interest:
There has been an increase Of S4139.,3 IN tho
revenue, from the Richmond dock; aud in IL,
number OF boats and vessels which have enietc ]
the dock. an increase OF $40, compared with ihe
previous fiscal year. The gain OF revenue III 1h'
five wears that the dock has been in operation. Is
fortv per cent, comparing the first year and the
las.
The increase of the trade with Baltimore is par
tirularly oh crvable. Although another hr~t-
cla>, steam at has been added making F'-
we..elv .ts between Richmend and Balumorc tho
nun. vessels whic'. ea"re1 the dock with
eart.4. .t8ni BaluDofc. during the Years / Al,
SIS rnd 1889, has bcea respectively 81, ~ AMI
no
Further additions have b,cn made to the mum
Ter # burks owned in i.cbmonl, and regularly
employed in the Rio traie; and the article "i col
fee INN rted from Brazil shows an increase 81
1868 hags-the number OF bags imported an
1853 having been 20,II9, and the number IN
1859, SO, 1877.
There was an increase in the receipts Of euano
during The year, Of nearly 1000 tons, and the re
5,9 .423 feet.
In the outward trade, the board remark with
satisfaction because indicative OF the progress of
the industrial interests If Richmond, ah ,nc!ehso
of moro than 500 bales Vi domeslcs, OF moro than
1000 kegs Of nails, Of nearly LOO tons ct IRON
spikes, and shipment VI " steam saw mills;
The receipts on account Of the dock lhf" been
from dockage, SAG 4l3,S7. Di-bursc@e"'s-
$795S.54. Net income - S'3S. 4oi 10.
The rccept, from lock tolls have been -, H..
Oo, and tho disbursements on account OF The I've
locks of the Underwater connection. for repairs,
sll0,S9; for salaries of agents. s5I1 "a.
In evidence of their disposition 70 aid The com
pany. and to afford every facility in their power
to the community affected by the Improvement II
is mentioned that tbs President aud five oi the ~
rcrtors oe,tiatel at one time, upon thor innis!-
ual endorsements with the banks in Richmond,
loan of one hundred thousand dollars !Hr The ne
.ommodalion uf the company. While the whole
of this de- has been paid, they arc still resi"h.'-
be, upon similar endorsements, f'r considerable
amount 1t is not, however 80 mn Il the pro- urc
from this source. as from the large arredrasf, due
by negotiable paper VI n business rharaci"'. and
by bonds. pay rolls aud accounts stitniih& Tia"
'.hnating debt" TO which Ihc board, IN tlt -
pnrts refer and they theref cali he affection
Of the styckhol lei- and the l. gisIture 10 van as
facts show ng that since tie a>t HOdual meeting
system Of thorough rctteuehuei, has beer ndri-
ed Comparing the existing argan,lAtloa with
tina. Of the 3lst January. as f"portel 10y the
Presiden: 70 the Speaker Of the II use "i Dcc.
ca,as. reduction has been ma lie ot ninety two IN
the numtcr Of Ulcers, agents and emilpyees IN tbe
sc vice i tic ca,aIany. aud atmlunion 81 -
,y5 ia tnee npens alton annually raa TO ,r 'ar
them.
Reports from the superin,enden's 4 repair IN
the first and secohd divisions OF the canal. aud
from the chief engineer, show that, n"iwithsthnd.
ing the many adverse circumstances ahc tim the
administration Of the company, tho man improve
ment has been kept in general god order
The board rrsre, " say that the ahticpa ions
winch they indu ged at the date al their last nn-
nnal report Of an increase # rc,eune, has not
been realized. While there has been gain IN
the tonnage during the fscal year Of go tons or
A. per cent. there has been falling oh in t'lls
of $50, 6S3.S4. or Ii per cent. ln1epr ~iently Of
other causes this is the result in part. rs the
beard are persuaded. Of notifications H. lie taflh
Of tolls, which they had hopel were at m end
Previous to the last annual meeting, uuiar tho
tariff OF July 1858 and it's notifications. there seem
ed 10 be steadily increasing business on tho ca
nal, aud tuete was an actual gain Of revenue ior
the quarter ending the Both September, le3S
compared with the corresponding quarter ending
the 3lst Of December, however. showing n talmg
OF Of SIG, 1872 As in tolls, though only of $3.50
in tons in freight.
The report alludes at length to the rtas N which
influenced the board in declining to unite III the
scheme adopted by the Chattanooga Convention
in November lust, for tariff Of through rates on
goods and produce. A drawback, or abatement
from the usual tolls, was, however, allowed IN IA
vor Of any party ybo might make such arrange
m-nt 40 far ny the canal was concerned. some
objection has been made thar this action ON the
part Of the board Is discrimination against Rich
IN ud in favor If the Burthera cities. Admitting
it to be tho board regard it as tho means Ut 'e-
to ping or attracting to the canal trade Nhicl
wonld probably otherwise be lost The rate,
adopted at the Chattanooga Convention we're dc
termined with reference TO khoWn rates uu cum
petinG routes for instance tiem New ! ork hl
sea to Charleston Or Sayennah, and thence by raj
TO the Intersection Of the southwestern limo n
Chatiaao ga or trsm Baltimore, ly railway Il
Wheeling or Parkersburg, and thence hy steam
boat to Nashville or Memphis. Superiority i
claimed for the route through Virginia, ii reic.
encc to which quotation from the report Of th'
President Of the Virginia AID I nnessce Rail,oa,
is introduced. 1t is then remarked that the wa
ter line is parallel to that portion tf the lalwa,
Zine extending from Norfolk to Lyno,. burg. 1t wa
the interest of our company TO secure, il possible
the traffic which might otherwise pass Owe tia
portion Of the through rnnte, and the 'ard. IN
der il.o instruction Of the stockholders Z. the u,
April, 1858. felt no hssita.-oa as Ia the cours
they ought to pursue
The business OF the canal wouii have been lara
er during the year, hut for tho disasters Of III
23J June and Goth September.
The receipts on account Of the canal, freni Rel
mond TO buchanan, were $3.50, u62,M Dishurst
mont Sal ,450l3. Net income S47 ,6l207. RI
total expense for the general administration OF til
company is charged 10 this account
The toll gatherers statements sb,w the artur
tonnage, crgrcss weight Of the property con eye
on the canal. to have been 200 .295 tons; which
equivalent /. 81. l54 Of through tonnage. iiI
average rate Of iell per ton per mile was one Gel
and one third Of mill. 4e5a. -.9
A trade in cotton has been inaugurate], whic
Or, niises 10 grow into Importance. Consignnient