Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1860-02-06

the required number, enabled them by "a movement Of
only 9699 900 miles, TO carry 900 tons. IL the en-
argement had remained where the stop law left 1t In
1912 the carrying of the 900 tons in 1885, would
have required movement OF s7732 900 miles, shown
saving in single year Of IS 033, 900 miles, which t
fifteen cents mile the usual price Of traction, u w.,
704 500"
IL NAV be remarked that the successful introduction Of
screw in the navigation OF canals promises TO
give largely increased development TO the canal interest
generally by rendering them advantageous TO the
public and remuneratve to the propreors since
by the introduction Of railways canals have been some
what thrown into the shade it TO be expected from
the large amounts Of capital invested in them las for In
stance ia Great Britain and Ireland, where the total
length of canal and inland navigation is about 1000
miles and the amount expended in constructing and I'M
proving them at least ESQ 900 sterling that the at
tenton of practical men would be turned to some i'm
proyement in the modes of hauling and propelng boats
Accordingly all accounts agree that the recent attempts
10 introduce screw propulsion have been successful
The New York Canal Commissioners in their report be-
fore referred to- say The advantage OF using steam in
the navigation of the canal is longer matter Of ques-
ton Experiments made during the last season. em5ar
raised however by difficulties which only tempo
rary clearly prove, what experiments on other canals,
both in this country and in Europe had already esab-
shed that steam vessels may be used without injury to
the banks other structures of the canal aud at rate
of speed allowing the vessel to double the number OF It's
annual voyages.
In making the foregoing statements your petitions dis
tncy dscllm the remoest intention of deprecating in
any degree the value of railroads No member OF your
honorable body will readily admit the manifold and
great advantages of railroads, than they; more
rejoces that Virginia has been able build nearly IF
teen hundred miles of this description of improvement
which daily tends the increase of the wealth and pow
er of our State and admirably facilitates not less the
relations Of commerce. and the operations OF trades man
uactures and the arts than the social intercourse OF our
fellow citizens
Nor do your petitioners regard the present condition
of their particular undertaking any concession una-
yorable TO the great policy OF continuous prosecution
OF the water line They least earnestly desire citi
deeply interested in everything that affects the hon
and prosperity of Virginia. TO do everything in their
power to achieve the splendid results which they believe
would follow the completion of this Improvement.
As some encouragement in the present aspect of their
affairs, they meLon with pleasure that there has been
increase in the of the canal OF SS9l5 81 dur
ing the quarter ending the 3st December last compared
with the corresponding quarter of the previous year. and
increase in the from the Dock, during the
period of 81, 81 As being a gain of upwards Of
81, POO in three months.
They not without hope Of ofecting arrangement
with the Southern railroad company which viii bring
about an increase Of revenue for both companies during
the present year.
They will also state that recently twelve first class
freight boats belonging partnership have been in
trOduced upon the line, 10 in connection with the
Iron furnace OF hessrs. Jordan, VIM Co.. at Wetham
This establishment is expected to commence active Oper
atoms early in the spring. and will undoubtedly add
largely to the business and revenue of the canal.
If the North river improvement were completed TO
Lexington as il may be by the month of July next there
would 4 considerable accession to the trade and
therefore to the revenue of the canal.
1t is true this may be oisetted By the completion
of the Orange and Alexandria Railroad extension to
Lynchburg, and the establishment OF line of pro-
peers from Alexandria to New York but the superior
advantages of the water line for the freight which will
be brought to Lynchburg by the Virginia and Tennes
see Railroad are to some extent obvious and will be
sill more should the policy be adopted by the canal
and metropolitan railroad companies of making Rich
mOnd market.
So far as the President and Directors of the James
River aad Kanawha Company concerned, they will
omit opportunity TO maintain, cardinal policy the
business interests of the improvement which has been
committed TO them In evidence of their disposition
10 what they could 10 realize the most favorable results
by keeping the Improvement in good order aud By main
ning the credit Of the company seems but Just to
mention that besides devOtng large part of their time
to the ordinary duties of their offices they have ofen
given their individual liability for large sums and
this time endorsers Of the companys obligations the
amount Of Sol, 2sl92.
In view of all the facts relating the case of your pc
titioners, they humbly ask such relief may
your honorable body adequate and proper
Their wish is to obtain the immediate appropriation
of such sum as will enable them to maintain the i'm
proyement in proper condition. and complete without de-
las the reconstruction of Boshers dam the Joshua
Falls dam, the raising Of the Lynchburg level aud the
North River Improvement; and inasmuch the
revenues Of the year 1860 and 1861 will be than
absorbed by existing engagements, leaving nothing
deray the necessary charges for the repair support and
management OF this canal and other works and for the
administration Of the company they ask the of four
hundred thousand dollars to be paid in eight equal in
instruments TO wit The first nstalment on the passage
Of the act making the Appropriation: and the remaining
instlments the first day OF April first day of july
first day of 0,tobe and first cay Of January at cd:
year.
Respectfully submitted in behalf of the Company
THOMAS II. ELLIS.
EICBNoSB JIi uary H. 1860
OFFICE OF THE JANEs RIVER KANAwHA C0YpY,
Richmond, Jan. 10Th, 1860.
The Stockholders met pursuan, to adjournment Col
H. c. Cabe resumng the Chair and the Secretary of the
company attending as clerk.
Major General T.iaferro from the committee of thir-
teen, submitted the following
REPORT:
The Committee to whom referred the report of
the President and the several accompanying documents
together with the resolution the subject of the guara
teed bonds of the North River Navigation Company have
carefully considered the same and respectfully report:
That they have been much impressed with the impor
Of the various matters brought to the attention Of
the Stockholders by the President They clearly that
.pprehensous which have been long entertained
allied in a condition Of affairs which requires prompt
and efficient remedy, the company cannot longer
tain itself The prime source of all this difficulty your
committee find in the policy which in 1889 initiated
by the General Assembly and reluctantly adopted by the
stockholders OF constructing the works Of the company
exclusively borrowed capital Superadded to this
have been many disasters involving heavy OUTLAWS, and
many expenses resulting from the early policy of the
company in the construction OF the line to Lynchburg,
which have absorbed large part of the revenues and
entaed floating debt which is the last degree pain
full and embarrassing in the administration of the compa
nv So far from intending censure, your committee feel
rather disposed to express sympathy and regret for the
President and Directors who have long borne this unwe
burden and who in various ways have evinced their
disposition their utmost ability and employ eve
~ their command TO advance the interests OF
the company and OF the State far connected with
the improvement Upon an investigation of the fnan-
cil necessities of the company, your committee
ised that modification of the bill which has been
reported ITO provide relief for the company is expe-
dent They have therefore, suggested the President
to ask amendment! of that bill, so that the company
may receive hundred thousand dollars Immediately
after the passage OF the act and four hundred thousand
dollars i'll eight equal payable quarterly there
after. commencing the first day Of April special
resolution this subject however, seemed to be unne.
ce@sary, and your committee therefore, report only the
following, to-git:
l. Resolved That It is unnecessary for the company
take further action upon the first and second subjects
referred TO in the Presidents report
That the company approve the provisions of the bill
for the amendment Of the charter of the James River and
Kanawha Company, eminently calculated to give value
TO the present stock of the company relieve the State
in few years from the burden Of paying the interest up
on the debt Of the company and of completing the i'm
provement according to the original plan and purposes
of the State in undertaking il that bill substantially
such as that reported is demanded by the interests of
the stockholders and the State and is urgently pressed
upon the favorable consideration OF the General Assem-