Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1859-06-07

There was received bv the Canal n Alex
andria, during the year II 80 tons at coal
an amount which may be considered Ia
yorable. allowing for seventy days Interrupt
ton of navigation upon the chesapeake and
Ohio Canal, exclusive of the usual winter
suspension; the Interruptions occurring IN
the months of May, June. and July. The
TRANSPORTATION of agricultural products and
merchandise was small. owing manly TO
the short crops of the two preceding years.
The repairs and improvements upon III"
Potomac Aqueduct during tn" year, as well
as those previously made. have added greatly
to its security and the Board have conn,
dence that the superstructure may be rene"
upon for several years, with moderate re-
pairs. The interest of the Company, we'
er. obviously requires that tsreconStrnrti'n'
mt the earliest possible day. upon an 'mpr'-
we'd plnn, should be kept steadily IN view.
To hazard Il work which has cost 4 million
and n quarter, and the important interests
dependent on it. upon the present structure
should not he thought of for a moment.
The means for keeping up the Aquedu't
have hitherto been furnished mainly by the
Corroration of Alexandria: and unless other
sources he discovered. the city must continue
70 hear this burden, already so grlevouS. aS
we'll as that of ultimately rebuilding It. Ia
view of these facts, the Board, on the 29th
of November last, adopted the following:
Tho account of the Corporation If Alexandria
,y,;nst this Company, showing "n the lst day "i
Sentcmber. 1858. a balance Of principa! money oil
sqi a23 ~. and a balance of interest ot Sib.o'O.JJ,
wa, laid before the Board hy the Attorney "t the
CORPORATION, and, thereupon, 1t was
Ora.rsd, That the President be, and Is hereby
directed 10 give the bonds "t the Company |" me
CORPORATION of Alexandria, on their assigns Tor
the debt due the Corporation, giving separate oo"d'
for the principal ana ih'ere>'-'' P''"''F"' ''
interest till paid.
R...L,,J That il be recommended to the stock
h,ld.rs 70 give a deed Of trust on the Canal ANA
other property of the Company. hrst securing Tue
debts of the Company due to individuals and the
Banks, and then 10 the Corporation OF Alexandria
unop such terms and conditions ~ the Stockholders
may deem best
From the principal debt above stated there
shonld be deducted s. 800 paid TO the Cor
n~oration of Alexandria out Of the proceeds OF
Tho bond for SIS 600 guaranteed by the State,
ond from the interest should be deducted
50 5lS Is for interest paid by the Company
On said s., 800, previous to the LIST Aep,em-
her. 1853, and the sum of S+oi % paid by
the Company for interest on the whnri i"an
from the Corporation, and not crediIed I'D
ss;d account. The sums subsequently Dor
rowed from the Corporation should be added
In reference TO the aforementioned ac-
t;on of the Board. the City Councli OF Alex
andria passed the following:
O,5crrd. That the Attorney of the Corporation
bs and he j. hereby instructed to take inc b"hd'
If the Alexandria Canal Company Tor their IN
dahtedness DIE the City Council, payable Twelve
months after date; said bonds to be dated on the
first day of September, 1893
subsequent to this order, the Board, hav.
mo in view the fact that n large portion "l
the debt of the city was not dHe, ana tha'
So5 600 of it had been assigned to the Com
m~;ss;oners of the Sinking Fund of the Cor
noration, and had passed out OF the control
IF the City Council, and not having received
onv answer from said Commissioners TO thelr
a%nnl;co,i m in relation to the time m pay
mapt nassed the following resolution
Bss.Lre5. That the notes of this Company an-
,hor;,ed IN be gwen, by the order IT this Boar" 81
November 29th, 1888, in settlement oil ih' 'e"' VI
this Company TO the Corporation amt IT. assign
no made payable at fiSe years from inc III "i ~
Scntsmber. ISIS: and that sn"h "t them a. sh'ii
he given for the principal, bear interest from 'a'e'
The matter still stands in the condition
,bus stated; but the Board regret to say that
some Of the largest creditors OF the company
alarmed by the apparent INTENTION Oh .h'
CITY Council to force payment at 5" SPORT d
nariod az the ist of September next, nave
brought suit against the Company ana must
shortly obtain Judgment. ~
The Board submit the whole sn9Ject 70
the stockholders for their consideration aan
action, trusting that they will concur w'.I
the Board as to the propriety and justice oil
securing the city's claim in the So @anfer