Daily Richmond Whig. [volume] (Richmond, Va.) 1865-1869, 1865-10-24
JAMES RIVER AND KANawHA COMPANY.

JAMES RIVER AND KANAwHA COMPANY
The stockholders of this company held their ihir-
ty-first annual meeting at the companys Office in
this city yesterday.
On motion of Charles Palmer, ESQ, Judge William
H. Lyons was appointed Chairman-the Secretary
of the company attending as Secretary er c51c'o.
THE ANNUAL REPORT.
The President read the annual report Of the Board
of Directors, of which the following is synopsis;
| The report submitted at the last annual meeting
having been lost while under the custody oil eu-
eraD military guard the present report brieny re'A
INITIATES some of the matters TO which attention "NN
directed in the lost document. The unuS""i i"'e'
rup os of navigation by ice, freshe's DreacneS A"
military raids in the fall, winter ana sprung =,
/ 1854 81. ar, remembered by the public anu heeU
mn, n. ber. rebeaISed The efforts made oy inc CUM
80. ,n5er the great difficulties that bese' al 'le
-, al -u.b endesvors, TO repair and recover ioii
H., manifold and heavy injuries, appear 10 nave
-. ,.o,,,,cuj. bly, energetic. IN the coniagt"''i
og ,prji. the general office OF the coihP'-
Fl. - ,.,Iuable Contents was consumed with
,io toll Office and all it contained But tue most
valuable books and papers oil the 'oinPa"! "','
/ I'll ~, having been sent up the canal the night
t,s,re the fire. Upon the evacuation oil The city,
,.orL pron the canal WAS necessarily suspended
,,o nrotr,cted negotiations with the United States
military authorities it was agreed that the Govern
-, r.,ull furnish the requisite labor, provisions,
.,o1. materials boats &C. 10 put the canal prompt
IL in thorough repair, upon condition that the
COMPANY should charge the Government one-half
The ordinary tolls a. set-of against these ad-
vances-the balance, if any, to be paid in reason
able time" This arrangement was concluded the
e7th of Nav. On the 25;h OF June the first packet
arrived in Lynchburg through from Richmond.
Upon the resumption OF navigation, "a Tariff of
Tolls was adopted, which was, for time, satiSiac-
tory; but on tie re-Openng of the Orange and Alex
andria Railroad, through schedule OF charges on
that road was adopted which, by It's low rate, was
taking of the trade OF tie canal and rendered FUR
/ Their action on our pant Indispensable. BY an an
| rangement then made between this Company, the
principal owners OF freight boats on the canal anu
/ The owners OF agents Of steamers running between
Richmond aui the cites of Baltimore. Philadelphia
and New York, schedule was adopted which 1t Is
b0pad ana believed VIII at least prevent any diver
sion of trade ;t"m thr' line. Very recently the Nr-
| 0inia and Tennessee Railroad has leen rc-Opencd
over i, cntne LENGTH, ana connections are heing
formed South ana West. which VIII probably bring
| 4 heavy traffic from remote p0.nts. u j. easy 10
p-r,sivc that with such an accession "f tade may
te realized for the canal finn THIS source, still fur
they reduction may soon he mace h'th III TIE toll ana
freight E1W charged
so l.ng a, the trade on the canal Is not sufficient
of ITSELF To regulate, lay competition, the prce OF
transportation, II would be, in the opinion of the
Board. very desirable that tie company should own
n line of boats with the view to regulate trcightS, Or
h. by law authorized to regulate them, as the
case during the war; since II Is apparent that the
company il pOWell5Ns to attract trade by the Gdop
ton of low charges on its part, if they may be rem
lerei inefficient 10y high charges on the part of tie
carrier.
When the embarrassments under which the Com
pany has labored from the state of the country for
tie last five years are remembered the public will
not be surprised find it stated that the condition
of the line, especially the upper portion of it, is
worse than it has been at any time since the COM
p!etion of the Improvement to Buchanan" The Re-
port explains why and to what extent this is the
case
Thu greatest hindrancc to the navigation at pre-
sent consists of large deposits OF sand ana mud
which in some places, can only be removed by
dredging From 4 thorough conviction of the he
Cessity and advantages Of dredging by steam power,
the Board have negotiated contract fOT three steam
dredging machines, of the most approved pattern, To
be furnished in the shortest practicable time They
have also given directions to have gates made in
some of the dams which will facilitate the removal
OfeNiStng deposits and aid in preventing the Iolma-
ton OF Others
The attention of the Boarl has been directed to
the subject OF keeping the canal in rcpairby contract
Reports and estimates have been returned by the
chef engineer and the superintendent Of the several
sections furnishing pproNimatey such Information
a. would serve guide TO the board, IN case the
system were determined upon; proposals have been
invited for letting out the repairs, by sections, to the
lowest responsible bidder giving adequate security;
intelligent and experienced contractors have exam
ined the line with the view to undertaking all the
work required; and, at the December meeting, the
board viii decide, according 10 the best lights then
before them whether to continue the present system
or try another which many persons believe Will be
an improvement upon it. The proposed system has
been IN operation ten or eleven years on the Erie
canal"
FINANCIAL.
Upon the evacuation of tile city the Confederate
Government was indebted to the company in the sum
of S5D5ST IS The funds on hand at that time