The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1860-01-21


Hastings Court.
J"'nes Rtrsr md Kaaat-ha Coa1pary---An ad-
lourned meeting of the Stockholders of this
company was held on Thursday night last
Coi. H. Y CABLLL resucliHg the ch:sir.
ren. lALfAfERRo, from the Committee OF
Thirteen, presented the following report.
me eontnittee To whom WIS referred the rs-
ihs documents to. ether VII the resolution ttre
sSsgt ol I'ie suarantee'i bonds OF the North Rives
the same, anG respectfully report:
hat the, hare heen much impressed with the
lilroi tance OF the varions matters brought to the
attenton OF the stockholders BY the President
ihey clearly see that arerehensions which
dition "t affairs which requires prompt and eff
gent remedy; or the company cannot longer sis
your committee lind III the policy which ii, I69
was initiated by the General Assembly and rel;,ct
the works OF the company exclusively on narrowed
capital nuperauted d to this, have been rrany ex
pans IN tie CONSTRUCTION OF the Inc +, nnhburr
which have absorbed large part Of the reyermes
Je rec and "it u@s wlicli IS to the last
tfation oi the company. So Tar froIl intend,n,
censurs. sour committee feel rather disposed t.
express sy ympaiiy and regret for the President and
Directors VINO have long iorne tins upwceornc
nufden, ana WHO. IN various ways, have evinced
their disposition 10 exert their utmost abilities ard
eWrios every means tt their command T.. I'D vance
the interests 81 the COMPANY and II tie State so
tar rs connected with the Improvement
Upon an investigation ofthe finances al necessItie.
OF the company, your eonmttee are satisfied that
some :iiodhcati1n OF the bill whicn has hecn re-
ported to provide relief for the company isex5e
dent They have therefore sse essc; To the Presi-
cent TO ask an amendment of that bill 50 that the
company may receive SIt0 0Ge uamediatel, after
the passage otte act.and S4e0 600 in Ell ht eesl IN
stalmants, PAYABLE quarterly thereafter coInmen-
cling on the Is oi April. special resolution on This
| subject. however. seemed tn be uaueoeasary and
your cohniittee therefore report only The follow
"kesairsa, That it is unnecessary for the com
pany 10 take further action upon the rst and see
ond subjects referred ~ III the Presidents reroet
2 mat The cofnpan! approve the provisions OF
James River and ksnaw ha Coinpauy as eminent-
|. calculated to give value to The pTese Mt s,ock OF
the company, to relieve the State in a ;a,y Hnara
from the burden ot paving the interest upon The
dett of the company, and Of competing the IN
proEement aeeof.ins to the ofisnal plan aad pur-
poses OF the State IN undertaking it. That n bill
sntstantisiiy Fnc rs that reported is demanded by
the interests OF the stakeholder and the state; and
1t be Urs emily pressed upon the favorable cOnsIiera
tion al the General aSsembiy
j. That immediate re.ief TO the company from
the embarrassment OF It's floating debt and the
provision o mears ioF tie construction and repafr
nt the works OF the company referred to in the
ton q the SAID works ami 10 the use thereof Gy
the citizens oi the State and the er .ntns ths re-
et Is as recommended 70 rna favorable consider
etion OF The General Assembly.
Ihat tie proposition to uryaniza a separate
| company ior fha improvement OF the kauaWha
Tiver. is in effect proposition 10 abandon the con
nection 81 the tide waters OF Virginia and the Oh 10
riyer: Inc Adoption "t tbs scheme by the Gene
rai Assemo, Entt de feat ;ne noecIs anc pur poses
Which influenced the SUBSCRIPTIONS Of the stock
hh2.asTs h IN tns company and must result in fatal
dow IN the interests of the State. But whilst We
are utterly opnnsed 10 the adjustment Of a sepa-
rate company for the improvement OF The Kasnawha
riFer We are prepared and most anxious to Afford
every ad and facility II tie power OF the conpanv
| for th2 improvement ofthat river
>. Ihat the company saali continue TO keep a
special account of ai tolls received b. them upon
tannase passing upon their canal to and from the
North river aud that such tolls be sat apart to be
applied exclusively to the pas of the interest
on the bonds of the North River Naygaton Com
pany, and the ioimatioiSpf sinking fund for the
redemption oil the pHI of sad bands
70 the agreements heretofore entered into between
| the two companies.
d. That the stockholders learn with pleasure tina
the Side Railroad Company have lately sub
mitted to the Board of Directors of this company
schedule for raising the tariff of charges on both
lines OF improvement. with the view to render
both more profitable; and they indulge the hope mat
snch an Arrangement. when perfected ,will produce
results mutually advantageous and satisfactory TO
| the two companies
After the resolutions We're read, they were
taken up ser,e.fm, explained, discussed and
adopted; and the preamble and resolutions
were then adopted.
On motion, the meeting adjourned