Kanawha Valley star. [volume] (Charleston, Va. [W. Va.]) 1856-1861, 1860-02-13
From the Rickm md KhqnirtF, Of Feb. sss.
Ths bIII 10 Facilitate Inc Completion 81
iit LANES Riftf mid Ea6aWha Caial, /

now pending before the General As.
sembly, Concerning the Interests o.
mnch the most important OF all the
Internal silpproxeuleilts Of the State;
Reported ID the HOUSE Of Delegates,
Etronn the Committee on Roads and Inter
nal Navigation. December 2Ist. 1859.
AEbill ID anends HE chatter Of the James
River and Kanawha Company.
In The4mnde pf constructing the works
On The line ofsthe James RIVER and IA
nawhR company BY Is ns Of money hayf
ing involved the company IN embarras'ls-
ments which render. Il inipfaetieabie to
carry on the work Iopgerton thai plan.
and the General Assembly deeming i Of
the gteasest importance thai the improve
ment shall be completed, and being anx-
iaus 10 encourage he undertaking there
of therefnfe, ssE ltfi
|Aat. BE itenantsd. That thescapital stock
Iof the James River and Kahawha compa.
nv %, and il hefeby'incteased % twenly-
ave million of dollars in shares Of one
hundred dollafsfeaeh.
2. That in>addition to the shares now
owned BY the State, IL said company. the
Beard Of Public Works be, and IL is
hereby Directed ID subscribe on behalf Of
the Commonwealth fur fifty Thousand
shares Of said capital stock. which shall
be taken ID full satisfaction Of the debt
now due from the said company to the
State. and for The assumption by the State
lofihe debt Tor which the State is bound
As tie security for said company. aud
the annuity to The Old james river COM
IS. Uponthe receiptof DISQUALIFICATION
the said Gftythousand shares. jof stock !.
the Board of Public Works shall give q
the james river and Kanawha company
sseceipt in full for the said several debts
due sta the State. and for any claims
against The company on account for the
.debts for which the Safe is responsible
As security of theeompany, OF ohTaccolnt
Of the annuity TO he Old james river
company, and shall BY proper deeds re-
leaselto said company alflienss whether BY
deeds DC trust. mortgages or Otherwise,
held i by the Stale upon the works, and
property Of the company. to secure any
debts due 10 the State. Or which may be
guaranteed by The State
Al Upon the receipt Of the certificates
for The said fifty thousand shares Of stock.
the Board |of Public Works is hereby
directed. upon The surrender by the holds
ers there.5fof y.of the bonds II of the
James River and Ksnawha company for
the payment IL which the State is tespon-
l'sibles 10 issue 10 said holders y CORES
pondiug amount Of the bonds Of the Slate.
made IN the manner, prescribed by law,
PAYABLE ihirty-four years alter their date.
and bearing interest at the rate Of six
per cent. per annum PAYABLE semi-ap.
nually. And the board shall thsr.upon
cancel and file the bonds 60 surrendered.
and deliver to the James River and
/, Kanawhs company a statement thereof,
with the humber, amount and date Of
each bond. A
S THE annuity ofth Old James, river
Company, and the interestsaon. the bonds
of The James riveFand Kanawha company
for which thesState is responsible. until
the said bonds are surrendered as herein
provided for. snail BE- paid OUT Of the treas
Jury of the State in tile mode provided BY
Flaw Ar the payment Of the bonds oflhe
State issued ior purposes Of ihternalinl
liproyelnent ~ I'D
8. The remaining one hundred and
fifty Thousand shares of stock Of the
James river and Kanawl,a company, Gre
ated BY this act. shall DE sold or disposed
Eoi BY the said company in any manner
that may seem most ludicious to il: Pro-
tyided, That they shall not be disposed
lof fpf less than their par value.
/. The council or proper authorities d
any city OF town and the county court 81
amy county are hereby authorized to sub
1scribe On behalf Of such city. towsr o.
EcouIty, for stock created BY this act. and
to borrow from iimeto tfme. on behalfo d
any such city. town Of county, such sums
ofmoasy as will be required 20 effect SAID
object. and to levy, assess and collect
such taxes as IN their opinion viii BE-
necessary for the purpose of paying the
interest and redeeming thsPrincipal which
! the said council or authorities or county
coutt may negotiate BY virtue Of this act
49, II any persons or companies shat
contract 10 construct any portion Or sec.
4 lion of the work on the line OF improve.
ment, or the whole thereof. SO much of,tRt
price Of tile work executed BY such Der.
sons or companies as may b. agreed up
on between the James river, and IKanaw.
ha company and such persous7or e9npa.
Mes may Be from tims TO time, after the
same has become due, invested In the
suck Of said company. untilthe Mholt
capiAal stock Of the company shall have
been taken.
HS Il any persons or companies shal
jointly make OF contract for the execution
of the whole Of the work on the iine O
the Improvement, or on the main liue
thereof, they shall. when they hold tis.
Ethousand shares Of said stock, have aIvo.t
Fin any meeting of the stockholders Of the
company, equal to one -foulh of the vol.
given on any matter or question which
shall arise in suchameeting, bySothersitliaI
1.-THE Stale and themselves. When III,
said work shall be completed 10 Cosing
tons and such company shall hold twenty
tho9sand shares Of stock, their vote i
Isaeh sease shall be equal 10 one-half d