The national Republican., 1867-09-24
LOCAL DEPARTM EN- T.

merchants at the Board Of Trade rooms to mako
report Of plan 70 establish Q transportation
stsambost company to bring produce TO this city
via the Potomac, met at Hutchins, Boyd q Co.'S
last evening W. L. Wall In the chair and 8. v.
Boyd, secretary. Tho COMMITTEES agreed to adopt
the following as their report: ..r ..
TIE POTOMAC TRANSPORTATION COMPANY.
.a.. Name.
1. This company shall bs known and deslg-
mated a. the P,tomao Transportation Company.
..-rs.g .s Capital Sfodk.
O. The capital stock Of this company shall be
5000, 900, represented By four thousand shares Of
$50 each. Each share will be entitled 10 one
vote at all the meetings Of the stockholders.
Subsdipfton.
8. Al tho time Of subscription, ono dollar shall
be paid for each share subscribed, the balance to
bs called for by the directors in monthly install
ments Of not exceeding $40 each.
Actual Capital.
4. The company confidently believe that forty
per cent. Of the capital stock will construct and
equip all the boats necessary for this enterprise.
This opinion rests upon the most reliable ssti.
mates and responsible offers to furnish the
boats.
Income.
8. With the shares Of this company In the
hands Of the active business men Of Warrington,
and Of the farmers along tho Potomac exerting
their influence to augment Its business, and with
. range Of over five hundred miles Of river-ooast
line to draw produce from and supplies to, the
company believe that at reasonable rates the
business will pay liberal dividends on its entire
capital stock.
Wien 10 DO done.
O. Within thirty days after the subscription
to tho stock, one steamer will be on tho route |;
another within sixty days.
Whenever subscribers desire to do 50, they can
pay at once forty per cent. on the full amount Of
their subscription and receive certificates Of
stock issued by the company; and In all cases
where forty per cent. has been paid in, and the
treasurers receipts returned, certificates will be
issued to the holders Of their receipts on their
order. -- .rs
The following is the form Of subscription list
adopted BY the COMMITTEES, to which the attsn-
tion OF our business men is called: r... /
Subscription LIST for tie capital stock Of the Poto-
mac Transportation Company. r
For value received Of the Potomac Transports.
tion Company, we hereby severally, and not
Jointly, agree to take the number Of shares In
the capital stock of said company placed OpPo-
site our names, respectively, and pay for the
same as follows: Ono dollar on each share at the
time Of subscription, and the balance as called
for BY the directors, In monthly instalments Of
not over twenty per cent. per month provided,
that whom forty per cont. Of tho par value Of tho
tied to receive, on demand, certificates Of stock
for the number Of shares severally subscribed for
by us.
wAsHIsGroN, D. O., Sept. 20, 1857
AT the rate Of 20 per cent, the rate named
above, the shares of $50 each would oost the
holders only $40 each.
Our moneysd business mon are now awakened to
tho Importance Of this enterprise, and even mon
with email means can here invest with o GER
tainty Of o profitable return. As an evidence
Of the good prospects Of this organization, we
may here state that some Of the steamboat com
paniss now on the Potomac are applying for
membership In this company. Dbl.
Mr.. Van Riswick recommends that the COM
pany have tenders to run In connection with the
large boats, and to ply up the tributaries of the
These he proposes to furnish at s., 900 each, and
thinks four Of them, costing $40, 900, will be
sufficient TO supply the two large boats that 1t Is
proposed to run. We wish the company hearty
success.
The following Is the report read by Mr.. Boyd
Trade rooms, on the evening Of Thursday the
10th inst, which is published for the information
Of our readers:
Mr. CHAIRMAN AND GENTLEMEN: When Wash
ington was called on to select site for tho cap.
ital Of this young but growing nation, his saga
cious and practical mind noticed that all large
oitiss located themselves at the head Of tide
water nsvigation.,S Boston stood at the head Of
Massachusetts, Bsy; New York, Of Long Island
Sound; Philadelphia, Of Delaware Bay and Bal
timore, Of Chesapeake Bay. The Potomac, .
mighty stream In the centre Of the nation, had
Washington located the future capital Of this
nation at the head Of the navigation Of the Po-
tomae. During the seventy years that have
elapsed since then, the city has made steady
and uniform growth but not through the com
msrce that Washington anticipated Tor 1t. The
city has grown because the nation has enlarged
The two hundred and fifty miles of shores that
intervene between rs and the Atlantic are cap.
able Of feeding . nationi but they do not raise
the products that nature has given them ability
to grow, because they have not the means Of
rsachings Market and this city, with Its popu.
lation Of one hundred and forty thousand, draws
no nourshmsnt from these rich shores, but OBJ
tains all her food BY the more expensive railway
and from large cities. S.-.- sl
Whom the Baltimore and Ohio railroad was
built Washington was a oity Of forty thousand
inhabitants. That single railroad still supplies
the wants Of tho city, now grown to over one
hundred and forty thousand.
1t ID, therefore. proposed to have q line Of
steamers that shall bring the growth Of the fer
tile banks Of the potomse to this city; such
line would benefit both the country and the city.
It would Immediately raise the value Of farms
for distance Of hftssn miles from the edge Of
the river along its whole course, by giving them
market for all they could raise at increased
prices; 1t would benefit the city by the opposite
mode Of lessening prices through the greater
amount Of country on which to depend for sup.
plies.
The value Of land Is always fixed by the prox-
unity of the market. The object Of this enter
prise Is to bring the whole shore line Of the
Potomac to within market distance Of Wash.
ington, to enable the farmer to gather his crop
in the evening and send 1t to Washington the
next morning, to let the purchaser go to the
farmer, cash in hand, and obtain tho meant Of
feeding our population, and to afford those de-
sirous Of escaping from large city to 60 each
evening TO their cool and pleasant cottages on
the banks Of tho river, many miles of in dis
tance, but not in hours.
II Is not necessary to begin on large scale.
Two steamers Of light drah, say about ono hun.
drsd and twenty feet long BY twenty two broad,
would do the business to commence with. Draw.
ing, when loaded, not over 81 feet Of water, they
could 20 up the numerous creeks that empty
into the Potomac. These two steamers could
be built for abou. $37 OOO One gentleman,
hero with US tonight, offers to contract to build
them for that, and will take one sixth Of that In
stock, It would cost about i've hundred and
hfty dollars month to run them. Other parties
have offered to turn In taeir boats at an appraised
valuation, and to take half their pay In stock,
for they know that there can be no competition
to this line, and that Its profits must pay better
- .n.aa laR kan l. H..