The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1867-06-22
PANY-lNsPECTION TOUE OF IT'S OF
FiCERs-ITS CONDITION, ETC.

Major Darlington, PRESIDENT Colonel
Muntord, secretary; and Mr.. f. Lorraine,
chief engineer of the James River and
kanawha Canal Company, have lately
made an inspection Of the canal above
Lynchburg, and from Colonel Munford,
who has Just returned, we have most
cheering account Of the progressing i'm
provements on the canal, the prospects for
a large amount of transportation, the mine
raj wealth Of the country along North and
James rivers, and the cheerful cXpecta-
tiOns of one of the finest wheat crops that
has been produced for some years. We
give what we have learned in detail below: {:
THE CANAL.
The canal from the junction of the
North and James rivers is being rapidly
improved. New dams and locks are beng
constructed, others are being repaired,
dredging machines are cleaning il cut, and
no efforts are being spared to facilitate
navigation. There are now il active opc-
ration two steam drcdgcs and three horse
drcdgeS, and large number of peniten-
tiary hands are among the operatives. In
the preSen. condition OF that portion ofthe
fifty tons, BUTT is hoped that in short time
it will be equal to seventy-iivc tons. There
is every prospect for a large tranSpOrta-
ton Of grain and minerals, and the i'm
provemcntS in progress will greatly expe-
dite it.
The officers while in Lexington were
buSily engaged in settling the claims Of
the people Of that section against the COM
pany. They succeeded very satisfactorily
in diSposing of nearly all Of them by pay
ments in the new mortgage bonds, which
they issued to the amount Of $ll5,0O0.
The people very readily accepted these
bonds in exchange for the bonds Of the
North River Navigation Company. The
North River Navigation Company, it will
be remembered, were the original owners
Of that portion of the canal running
from the junction of the North river
with the James to Lexington, which was
subsequently purchased by the James
River and Kanawha Canal Company. In
the purchase thesbondS of the former CON-
pany were endorsed by the latter, and
thus payment secured. These bonds are
now withdrawn, and the new mortgage
bonds given in return, the James River
Company assuming the debt to the bond
holders.
Colonel Munford is preparing to issue
| 100000 more Of these bonds TO parties
in Richmond and along the line Of the
canal.
The company is desirous that ndepen-
dent lines of boats should be placed upon
the canal, and is disposed to offer every
facility and encouragement to those de-
string to run boats on the canal. The line
Of boats Of the company are not intended
to compete with those Of private parties,
and no obstacle in this way need be feared.
In view of the hope of large and increas-
ing transportation, a number of additional
boats will be needed, and a good chance
for investment is offered in their construc-
n and in engaging in running them.
THE CROPS.
Upon this interesting subject we are glad
to be able to report most cheerfully.. The
wheat along the line from Lexington to
| Lynchburg is in splendid condition, and no
fears Of rust are now entertained. The
farmers are in high glee, and assert with
intense satisfaction that they never had
better cause to look for large and excel
lent crop Of wheat, and that it has been
years since the prosrCct was as good. Co.
lionel Munford tells us that between Lex
ington and Lynchburg he saw but one field
of wheat at all affected with rust, and in
this case its damage was but slight.
MINERAL WEALTH.
This country, as is we'll known, is rich
in minerals, and each day seems to de-
| IN lav pf
! The beauty Of its fields and the sublime
grandeur of its mountain scenery have
long been noted, and the pens Of many
tourists have exhausted their powers Of
description in attempting to paint the
beautiful magniicence Of this picture OF
nature. But the skilled eye Of the man of
science has discovered that its beautiful
face covers the wealth Of kingdoms, and in
future We must have, in addition to its
mere contemplation as pleasing to the eye,
its development, as means Of restoring q
depleted country to its former richness and
prosperity.
AT about few miles below Lexington,
which is its head of navigation, the North
river commences to run parallel with
South mountains, q branch of the Blue
Ridge, and runs until it reaches the James
nearly at its foot. Mineralogists who
have explored it state that along this en-
tire extent it Is vast bed of iron ore Ol
the richest character. A mine has been
commenced at point about q mile and a
half from the mouth of the river, which
abounds with the brown hematite ore, q
rare quality, and the best adapted fol
the manufacture Of steel, From these