The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1867-03-28

Major Isaac H. Darlington called the
meeting to order, and nominated General
Joseph R. Anderson as president of the
meeting; which nomination was unani-
mously carried. Mr.. William P. Munford,
secretary of the company, acted as secre-
tary.
In answer to inquiries of the President,
Mr.. Munford stated that there was largely
over a Qnorum present. The State was
represented, and one fourth of the private
stockholders were represented either in
person or by proxies. The State vote was
now three-ffths of the whole vote of the
company, supposing all the stock repre-
sented.
The meeting being ready for business,
Mr.. Robert A. Lancaster, president pro
tempore of the company, read the following
Report.
Since the meeting of the stockholders in
October last vacancy has occurred in the
presidency of the company. The following
order was adopted by the Board Of Direc-
tors at their meeting on the 23d February,
1867.
The following letter was laid before the
Board:
"OFFIcE OF THE JAMES RIVER AND
"KANAwHA COMPANY,
"RICHMOND, February 23, 1867.
"Gentlemen,-I am advised by friends
in whose judgment / have confidence, that
my continuance in the office of president
of this company is a cause of prejudice and
disadvantage to the interests Of the COM
pany, in the estimation of a considerable
number of the members of the General As
sembly.
"Acting upon this advice, hereby ten
der my resignation of the Office of presi-
dent, to take effect on Wednesday the
18th day of March next, or on such other
day as you may indicate.
81 am, gentlemen, with great respect,
your obedient servant,
"THoMAs II. ELLIS.
"To The Directors Of the James River and
Kana,cha Company"
On motion of DR.. Leyburn,
I" RESOLVED, That the resignation of
Colonel Ellis be accepted, to take effect on
the 18th March next.
RESOLVED, That the Secretary be in
structed to communicate the above order
to the Board of Public Works, and re-
quest that meeting of the stockholders
be called at as early day as the law will
permit"
An order was adopted by the Board Of
Public Works the same day, as follows:
"Ordered, That meeting Of the stock
holders of the James River and Kanawha
Company be called, to meet in Richmond
on Wednesday the 9th day of March
next, for the purpose Of electing presi-
dent of said company, and for the transac-
tion of any other business which may come
before them." In conformity with the
Sth section of the bylaws, the vacancy in
the office of president was supplied by
appointment of the directors at their
meeting on the 25th day of February last"
Since the annual meeting of the stock
holders, important measures affecting the
interest of the company have been
adopted by the Legislatures of Virginia
and West Virginia, which are herewith
submitted, as follows:
By the Legislature Of Virginia:
/. An act to amend the 9TH section of the
act incorporating the stockholders of the
James River and Kanawha Company.
2. An act relating to the improvement of
the Great Kanawha river.
8. An act in relation to the Virginia Ca
nal Company.
4. An act to authorize the James River
and Kanawha Company to borrow money.
5. An act to provide for the regulation
of railroads and canals within the State.
By the Legislature of West Virginia:
/. An act to provide for the improve
ment of the navigation of the great Ia
nawha river.
2..An act transferring the James River
and Kanawha Turnpike road to the coun-
ties through which it passes.
3. An act transferring to the county OF
Cabell that portion Of the James River and
Kanawha turnpike lying within said county.
The tariff of tolls on the canal and dock
has been slightly modified by the Board
since the order of. the stockholders fixing
the maximum rates to be charged. Copies
of the modified tariffs are herewith sub
mitted.
The accompanying letter from Governor
Boreman, of West Virginia, will explain
the reason of the failure on the part OF
that State to ratify the act passed by the
Legislature of Virginia extending the time
for the organization of the Virginia Canal
Company.
The recent correspondence with the
agent of the French company is also SUBJ
mitted for your consideration.
Resolutions Of inquiry in regard to the
officers of this company and their salaries
were adopted by the House of Delegates
on the 10th day of December last. At a
subsequent meeting of the Board of Di-
rectors, a general reduction Of ten per
cent. on all salaries amounting to or eX-
ceedipg $500 was made, with special
changes in few cases both as to the officers
themselves and their salaries. BY these
notifications the expenses of the company
have been reduced about $4,000 per an
mum.
A report is also herewith submitted from
the chief engineer in regard to the repairs
of the canal and dock which will be re-
quirsj during the present fiscal year.
Respectfully submitted in behalf OF the
Board. ROBERT A. LANCASTER,
President pro tenn.
Richmond, March q, 1867.
DR.. Graham moved that the report be
referred to a committee Of five, to consist
of three State proxies and two to be ap'
pointed by the Chair.
Mr.. F. B. Deane moved that the com
mittee consist of nine.
The State vote having declared in favor
of five, that settled the question.
The Chair appointed, in accordance with
the resolution, Messrs. Archibald Graham
Alexander r. Holiday, Thomas w. Nc
Canoe, (State proxies,) and David }. Saun
ders and +. B. Deane.
Mr.. Deane begged to be excused on the
score of his relations to the company as
directnr recently superseded by the Board
of Public Works, and therefore membel
of the administration this meeting wa
IL L.