Evening star. [volume] (Washington, D.C.) 1854-1972, 1867-12-24
The Chesapeake and Ohis Canal.

We stated yesterday that in The Circuit
SoeI. a,a, OF Ssi,%ors n CITY on Sstordsy, ,he5s
POE, EsQs- solici orr on bshslf Of tne Com mon
wealth Of Virginia bill for 90 inIaaction
sga Let the Chesapeake and Ohio Canal Com.
pany and for the appointment OF q recs,ver Of
all ihe tolls and revenue OF said Company.
] he bill recitss the facts OF the incorporates
of tsid Company for oesienated purposes, &c |,
and states thar long before the year Isis AL tne
money advanced by me Staie Of Naryiand
was expended, and the resources and credit Of
The Company wholly exhs1s ed, leaving The
canal completed only TO point nf'y miles east
OF Msr, land passed an act on the 10Th March
les4, By which the once OF the Company
were author zed TO borrow upon its bonds the
necessary money 10 complies the canal
10 Cum oefland, not 10 exceed sl.7OO,OOQ,
10 be secured by pledge OF Gil the tolls and
reveLu Lues OF the canal and It's works between
Georgetown and Cumberland. the Sta.e Of
Msr1 land waiving her priority rs mortgage
under previous mortgages. Under this az: the
Company ssurd coupon tonds 20 the amount
OF Sl,o69-50o. Of which the State OF virginIa
guaranteed 80 COCO. Subsequently further
euarsDtee OF s2,o,00o bends was authorized BY
the State OF NIrsinis. based on q memorial of
the President and Directors OF the Company,
and repr ssntation that said loan would Be
secured a. nrst lien on The tolls and rsye-
nue. OF the CoJnpsny, superior and prior 70
tnatof The bonds issued by virtue of the Mary
land act OF IsH The of1cia opinion OF
the Attorney General OF Maryland as 70
the legal power Of the Company TO raise mo-
ney IN anfcipa Ion Of its revenues for the pnr.
pose or repsrs and improvemen,s was con-
manifested 10 the Governor OF Maryland on
The 2sth Of June. 1s&9, that such r.gha existed
The Board Of Public Works OF Virgins, ON
the 7th OF August, 1859, certined TO the Treas-
urer Of the Stale that the payment OF tue prin-
cipal and interest of the bonds OF the Company
for s4000o was sufficiently secured In accord
ance with the requirements OF the act Of As
sembly, aI d said bonds were endorsed as guar
aDteed BY the State of Virginia. On the lst OF
January, 1853, the Company refused 20 pay
the interest on said repair bonds. amounting 20
soUO0- The complainant from thai date 70
on said bonds, and After January, 1851, u stiI
Jan uary, 1865, paid such Of the coupons on
said bonds rs were presented; that the CON-
Pany, being unabie 70 pay ali the interest due
upon the bonds issued for the com pIetiou OF
the canal TO Cumberland, an arrangement
Was made between the company and SsIden,
Wihers 4 20, OF Washington, the latter 70
take mp the coupons 90 due, and hold the
same until the company should be in condi-
tlon 10 redeem and pay the same, with interest
thereon, the future revenue OF the company
being ~ The time expressly pledged 70 sc.
cure them, the amount OF said coupons being
sl43 0OO, which were transferred by said Sci.
den, " ithers i TO. 10 the complainant The
s35,4l0 for coupons surrendered by IL; ss69 625,
amount paid 70 redeem the coupons on the
preferred Dor ds, as also the $4,000 issued 70
Selden, Withers Il 10, and interest thereon,
apply the net tolls and reven thereof sue
csssfvely 10 the payment OF the coupons above
eSted. Also, 70 have stated an account be.
tween fhe complai nant and the Company. aAd
Tor appointment of q receiver OF ali the tolls
and revenue, and for an Injunction against
the company. its agents, &c for using, apply-
Ing or expanding ANY Of the ne. tolls aud rev.
enues TO or for any purpose whatever. other
than the payment and discharge OF the prior
lien thereon OF csmplainsn,, until the same
snail have been exiting guished, &c.