Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1859-11-02
RICHMOND WHIG.
MAJ MEFrINE nr srncY uoI nrpS

aaQ nl ~ in Tho
from IN. R;chuond dot. .,d +, a.. ,,rhas ~ -,
and vessel. which n. va e,,or.J ,h JocL an noa.so 20
$40 compared With the previous dscai wear The gain
of revenne In IN. 6yc r.,,s H., ho doL h. heo r.,
onera,ion Il forty mar .ep, The e.,
and the las,
tn. incre... or IN. ,r,do i,h p.i,;,,o.a T. .-,i,
lv obseryabIe AIbough anober frs,-cl,ss s,ssmho.,
has been added making weekly lin. hc,wssn Rich
mond and B.timor. The nuu,ber of vessels which an
tered the dock with eargoe. from R,imore drinv he
wears 1887 1855 and 1s,a has bcen resnec,;velS IN
10 and no >
Further additions have hee, mad. IN ,b. ,,,,hs, of
barks owned In Ri,bnond and reg,,larIv ennoyed in
the Rio trade aud the article of coffee inported from
Brazil shows an increase of - s5s bn9s-tbe humber
of bags Imported in isss having been 80 40 and the
| number in 1889 33l37
There was an increase In the receipts of euauo during
the year OF nearly 20Oo tons and the receip- of lumber
| ro-. from, q Gal TO-: feet 10 ~ s9s Io3 feet
In the outward trde the board remark with satisac-
ton because indicative Of the proercs, of the ind-sl
interests of Richmond, an increase of more than 500
bales Of domestcs OF more than 600 kegs of nails of
nearly 900 tons OF iron spikes and shipment of AZ
| steam mills.
The receipts account Of the dock have been-rom
| dockage Si6,4I3 81. Disbursements-STe5 81 Net
| income-S3s 451 49,
The receipts from lock tolls have been IA Oa and
the on account of the FIVE locks of the tide
connection for repairs sIlO So for salaries of
| agents, S557 "a.
In evidence of their disposition to aid the company
and afford every facility in their POI er to the conm-
nifty affected by the Improvement Is mentioned that
the President and five OF the Directors At one
time. upon their individual endorsements with the banks
in Richmond loan of one hundred thousand dollars for
the accommodation Of the company. While the whole
of this debt has been paid they still responsible upon
similar endorsements, for considerable amount. II is
not however, much the pressure from this source
from the large arrearage due by negotiable paper OF
business character aud by bonds nav rolls az,
constituting the floating debt which the board In
the report refer and they therefore call the attention of
the stockholders aud the Legislature various facts
thorough retrenrbn,rnt has been odon,oS Comn,r;ng
the existing organization With that of the sist January
ISIS reported bv the President t the SneaLer Of he
Uouse o Delegates redn,tion b.s been made of nine
tyt.o In the number of officers agents nd in
he servics of the comnany and Jpinuton of Sos 7os
In the comoensation anpu,Ilv Maid 10 or for them
Renor,s frou, ,ho observation-disclosures of renars on the
first and second diysous of the canal and from tho chief
engineer sbow tbat otsbstandinp the many adverse
nv the main La bse Kent In general good
order
The hoard regret To saw that the which
they INDUCED AT The date Of their last annual Tepoc of
an nerease of revenue has NOT been realized While
there has beeu rain In the TONNAGE during the fiscal
wear Of 3o4 tons or 7 ner cent there has been fall
ing OFF in tolls of $50 Bss 81 or ii per cent Indcpen
IDENTIFY of other causes th s the result in part as the
board are of in the tariff Of to
which thew had hoped were at an end Previous TO the
lat annual meetnp under the tar of Jnly ls5s and
its modiseations there seemed to he sesa,v ipcrea
ing business ON The canal and there was an actual Gain
Of revenue for the quarter ending the goth Sepember
1885, compared with the corresponding quarter ending
the 3Ist of December however showing falling of of
SIC Is2 45 in tolls though only of 1850 in tons in
| freight.
The report aIudes at length to the reason which in
auenced the board ia declining to unite in the scheme
adopted by the Chattanooga Convention in November
last for tariff OF through rates on goods and produce
drawback, or abatement from the usual tolls was
however allowed in favor of any party Eho iah make
such arrangement so far as the canal was
some objection has been made that this action on the
~r a. b-rd 70 discrimination against Ris.,ouI
IN favor of the northern cities. Admitting TO be so,
the board regard il the means of retaining attract
ing to the canal trade which would probably otherwise
be lost The rates adopted at the Chattanooga Conven
ton were determined with reference to known rates on
competing routes-as for Instance from New York by
sea TO Charleston or Savannah aud thence by rail to the
intersection OF the southwestern ne at Cetianoogaor
from baltimore, by railway to Wheeling or Petersburg
and thence 10y steamboat TO Nashville or Memphis su
Peroriy claimed for the route through Virginia, in
reference to which quotation from the report Of the
Iresidenl oi the virginia ana tennessee Railroad intro
duced IL Is then remarked that the water line is para
lei to that portion oil the railway line extending from Nor
folk to Lynehburg 1t was the interest of our company
10 secure, possible, the traffic which might otherwise
pass over that portion Of The through route ard the
board under the instruction OF ihs stockholders OF the
Sth April 1898 lett no hesitation IS to the course they
ought 10 pursue
The business OF the canal would have been larger du
ring the year. but Tor the disasters oil the 2Sd June and
zV1n september
Ine receipts on account Oh tue canal from richmond
70 buchanan, were Slso,o62so Disbursements sl4l,-
iOOlS' Nett income s4"ol2O' Ihe total expense tor
the general administration o the company Is charged to
TINS account
Inc to-gatheTer statements snow the actual tonnage
OF gross Weght oil the property conveyed on the canal
70 nave Deeh 2ooz' tons "hch Is equivalent TO
vi thToueh UhhhSe ihe average rate OF Toll per ton
per mile was one cent ard one-thrd OF a mill
uraue IN eouoh mas peeh ihaugurated, winch prom
ses 10 grow INTO Importance Consignmehts have been
maue oy planters w North Ah65ma mississippi and Ten
nssSec WIN WIN VIC" OF "su'S hchmohd rs Nlfkei.-
Inc result Is DeIeNeI 10 nave o'em satisfactory Ihere
!, a"u'ner teIvs' N,''" u Pecn'H a,uusu TO- EAten'
sNe IRON "orks nave eeh located al eshanoh the ca
ps,, pA, nve miles ihs nue OF hienmTnd Commenced IN
As' u1y s ~ DC uliisneI carry next
iron will be about 10 600 tons per wear viii one se
or furnace The establishmept boWsve1 is dosinsJ Co.
apair of furnaces which viii donbe ,bs podnc,ion
The iron ores and Iimeztopes or marts are Obtained At
rious pointa ON The canal Ar distances S,ou ,b G
varying from 40 miles The quantity required at
present for single stack will be about 2j 600 tons of
iron oreper The limestone marls used will be
about 1000 per Annum The Goals Of which about
25OOO tons per annum viii be required, are to be Oh
tanned from tbe richmond coal held which crosses the
line OF the canal eight miles above Westham.
sun another advantage 70 the water line has been
lately developed IN the discovery OF the black oxide Of
manganese on the North river and on the main line be-
tween the mouth oil tue North nver and Buchanan IL
attracting attention, ndcapal seeking investment
N IT, Since the hr't week 10 September, when the first
shipment made, to the present time including the