The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1860-08-30
LOCAL MATTERS.

Jayaes Rive, asd Kasascha Ce~spasy.--A called
meeting OF the stockholders Of this company
was held In this city on Tuesday night iast:
"The meeting Organised BY the slsction Of
4usTAvus A. Mx.Rs, Esq, - Chairman. the
Secrstary Of the company having ascer.slneo 11 9
person or by proxy As soon ~ the Chairman
announced his readiness to proceed TO bust-
ness. the President Of the company, Col.
ceeded TO give the substance Of the correspon-
dence and frequent cor ferences that mad taken
place between Mons. ERNHsT DE BELLor DIES
MiNIKRBs. leading member and duly ac-
credited agent OF an association OF gentlemen
OF means in France, who proposed to pur.
chase and complete the James River and Ka-
nawha Canal from Richmond to the Ohio
river The President stated that he was fully
satisfied OF the ability Of the association to
complete the work. and that the Emperor Of
France fcGored the project as being well cal
culated " secure q large trade between Viz
ginia and France. After satisfying himself in
every manner of the earnestness and ability Of
Mons. Bellot and his associates, the President
stated that an agreement had been submitted
to the Board Of Public Works and approved
on the part OF The State, and that the private
stockholders had been called together to ratify
1t, if they approved of it. He stated that there
were yet some amendments which all parties
closed, hut req quested the Secretary to read the
paper, which had been signed, for the fnfor-
maton of the stockholders present. Without
going in to detail. the following facts will give
the public some idea OF what IL to be the ef-
feet of the change, IL made:
The agreement Is for the purchase of the ca
nal TO the Ohio river. new association, to
be called the Virginia Canal Company, Is to be
organized, with a capital Of 8l5,0U0000 In
shares of not less than 500 each. The State
10 to cede her portion of stock to this company,
for which she is to receive, in specie, a per-
petual annuity of SI35,O00 The private stock
holders are to give two shares OF their present
improbable stock for one share of stock in
the new company, on which they are TO re-
ceive five per cent. interest until the canal is
completed, and then to participate in all the
profits, as other stockholders. The new CON-
pany is to remove all deposits in the bed of the
present canal, repair the locks, dams, bridges,
embankments, etc, deepen IL from here TO
Buchanan at once, and complete it to the Ohio
river In eight years. 1t Is also to enlarge the
Richmond Dock in ten years, as to meet the
shipping trade, and enlarge all the present
locks along the line.
Before commencing the work, or taking pos
session, the new company is to deposit with
the State the sum of 81 600 600 as a guaran n tee
and S4t0, GOO wi the present company, TO en-
able it to iiQuidate its present fioaIing debt.
On motion, the agreement just read, with
variety OF other papers, were referred to
com mittee of thirteen. to be reported upon
Committee: Messrs. VIM B TaiiaferPo, Sam
uel McCorkle, James b. Dorman, p. r. Graf
tan. S. D. Denoon, @. r. Barksdale, X L.
Owen, F B. Deane, Jr., Joseph Mayo, VIM.
Palmer, Geo. w. Muntord, S. j. Harrison, F.
H Watkins.
On motion, the meeting then adjourned to
meet again on Wednesday evening, at O'Clock.
James Ricer and KanaaCha Company.-The
stockholders of the James River and Kanawha
Company held an adjourned meeting last
night, G. A. MYERS, Esq, occupying the chair.
Gen. Taliaferro, from the committee of
thirteen, reported that that committee had
bHp lndnStriOnSlv engaged n