Lynchburg daily Virginian. [volume] (Lynchburg [Va.]) 1852-1861, 1860-02-06
James River and Kanawha Canal.

Ia conformity with resolution adopted by th'
nre.ent House Of Dele gates Of Virginia, Colonel
Thomas H. Ellis, President OF this Company. has
f,rwarded to that body, complete statement Of
its affairs from its commencement to the S0th Of
September last. We return thanks to Colonel
Ellis for a copy of his report. from which we make,
for the information of our readers who fec. int
rested in the affairs of this great work, the follow
ing summary.
The entire cost Of the canal including bonus
to the old James River Company, in the toe form
of annuity amounting to twenty-one thousand
dollars.-has been ten millions seven hundred and
sixty. three thousand nine hundred and nineysix
dollars and thirteen cents 1910, 7G3, 906l3,l The
cost of maintenance, and repairs Of general ad-
ministration Of interest paid and from losses in
Cured. amounted to the aggregate OF five mil
lions six hundred and sxty-eigh: thousand hvc
hundred and thirty-six dollars anu hinety-six
cents (S5 Cos, $50 co. making the total expendi-
ture Of every kind from the tho organization Of
the Company in May, 1888, to the sob Of Sep.
tember. 1859 sixteen millions cighiy.two thousand
five hundred and ,hirty-threo dollars nnd nine
cents tSl6, 0S2. $500 The receipts from tolls
and o,her income dnring the same period, have
been i've millions one hundred aud sixty-ono
thousand eight hundred aud fifty dollars and six,
" cents tsj, l6l $1,000, about halt mil
lion less han the current expenses. whist the
total ieceipto .fon, capital stock subscribed aud
pal ior. csrta borrowed. tolls and ether in
COM. have hc,h sixteen miiions ono hundred and
two thu4s,.al eight hundred aud twenty dollars
and seven cents (Sl6, TO- s2o o.. leaving II bal
nnoe ON hand in O.tober last, OF twenty Thousand
two hundred and eishtys;x dollars and ninety.
eight cents.
The portion contributed by the State in various
ways, to the total expense, Of the canal from 1885
to 1859 aggregates eight millions seven hundred
aud fty.,wo thousand one hundred and sixty five
dollars and thirty five cents $500 l65.35),
whilst She has II further interest IN the work ~
tue owner of stocks in the old james RIVER Com
pany, guaranteed bonds. &c. amounting in the
aggregate to two hundred aud ior,y tour thou.
sand ei sht hundred dollars (S2I4 .s0ooD)
The report states that at i meeting # the d.
rectors held in eeccmbcr, ISIS, IA reduction WAS
made in the number of off, aud osrrscers and
in some OF their salaries, /, take effect the lot
of January, loj9, that the estimated expense
for compensation To officers aud agents during tho
yea 1883 is hity-tour thousand seven hundred
and lor,y.six dollar, aud seventy -lour cents u
sum wIril, ia ring thn masnt,ule and extent
OF III, p,-a,iJn, controlled, doc. no, appear to 10
extravag ant.
We regret ia learn that since the year lSj4,
the receipts Of the Company have hren annually
diminishing IL wc except the last year, notwith-
standing ,hA opening OF the Nrgluia aud Ten.
nessee Railroad and the completion q! the tide
water connection. For some YER prils T. 1913
there had been large annual increase Of revenue,
hat the receipts that year amounted 10 $50
99s60: whilst. declining steadily 10 1881 they
were that year only $751; 6225j. We observe,
however, Il lIttIc ,.iprovcmcnt asl ycar, when tho
receipts were SIS, J62.2u.
THIS decline ia the busincss and receipts Of tho
the Company IF We may except the year 1907,
when the disastrous ireshct interru ted the uavi.
CATION OF the canal Tor long time is accounted
for as the result OF the opening Of the Southsde,
Danyillc. and Central Railroad, each Of which
have diverted from the caua much Of tho trade
which it formerly controlled.
ln contemplating the future of thiswork, the
greatest by lar Virginia perceive nothing
from which to derive any encouragement, unless
change Of policy upon tho part OF the Lcssla-
ture shall speedily take place In its present un-
flushed condition, with rival improvements to
take from il much Of the way tonnage for which
it can scarcely be regarded competitor. 1t will
continue To l,nguish, and the millions that have
beenexpcnled upon it by the state, remain unpro.
ductive forever.
The canal will never fulfil its great mission till
the idea Of its projectors shall have been realized
and ii connect the waters OF the kana~ha with
the James and the Ocean then tide OF wealth
would be ..5aeei through Virginia such rs should
make her the iofem Jst State IN the Union.
Will III" Legislature foreso, for the time being
the consideration Of Southern conventions and
SOu'a Caropn resolutions and devote itself to
som hing p,act.oal aud useful, that Will rebound
more to the .4c glory OF Virginia, aud contribute
more 10 her power and influence in the CanGolera
cy, than all tho Southern conferences that shal
be held between this aud the end Vi time.