The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1868-11-05

TtHES RIVER AND KANAWHA
CANAL COMPANY.
ANNUAL MEETTNG-REPORTS.

The thirty-fourth annual meeting o.
the stockholders of the James River ant
Kanawha Canal Company was held at tht
Office of the company yesterday.
When the hour arrived, it being ascer
tained that $3.50 votes we're present, re
presenting more than quorum, the meet
ing was called to order by DR.. Graham or
whose motion Mr.. r. H. Maury was elect.
ei chairman.
The President read the annual report OF
inc Board Of Directors, an abstract of which
We give below:
ia The Stockholders Of the James Rirer ana
KanG,rha Canal Company:
Gentlemen, The Board of Directors re-
srecttully submit the usual reports, of the
treasurer, chief engineer, and superintend-
rnt, for the fiscal year ending September
50, 1868.
The actual tonnage moved on the canal
during the last year was l75, ,4S2 tons-an
increase of 5000 tons over that Of the
year ending September 80, 1867.
,rba receipts from all sources other than
loans herein reported ~ere... u. 81
rcccps from tolls .$ll6, $50 ]:
jrrst;is from Richmond dock........... 5,29l J:
i,,i I, from 1877 q
Slsl 2l4 %
The ordinary expenses, exclusive of in
tcrest paid on mortgage bonds, were $685.
C2S27. OF an average of S9,052 monthly.
The revenue from canal tolls was ST ,590.3S
less than from like tolls on the smaller tom
mage Of the fiscal year ending in 1867.
This is due in part to the reduced tariff
rates adopted in May last, and which was
revised according to instructions from the
stockholders at their last meeting. The re-
port mentions other reasons for this loss Of
revenue: among them, five competing rail
r0als-two Of which touch it at Lynchburg
and all of them penetrating country which
formerly yielded large amount Of ton
mage TO the canal. 1t is believed that the
present interest of the company is espe'
cialiy promoted by the low rates of toll
Oh many articles of tonnage, and 1t IS hoped
that At day not remote the old floating
debt which has so long embarrassed them
nav be removed by an increase of revenue
resulting from an increase Of tonnage BY
the low rates.
The anticipated increase of tonnage from
certain named mining and manufacturing
companies has not been realized, in conse-
qgence Of difficulties which delayed these
companies in beginning their operations
But these difficulties have been overcome.
and the anticipated result will follow.
The companies mentioned are the "Dover
and Lynchburg Mining and Manufacturing
Company" "Westham Works." and the
Richmond Granite Company"
The loss from the destruction of the
Tuckahoe aQueduct has seriously dimin-
ishet the revenues Of the company.
In August last there were l64 freight
boats Of all classes trading to this city, and
those left below the aqueduct were INSULT
cieut to transfer with dispatch the freight
brought from above. This delay, in con-
necion with the expense of transfer, caused
the withdrawal Of number Of boats from
above the aqueduct.
In September, 1867, the receipts from
canal tolls were Sl3, 1929 ; and in Septem-
Der, 1865, $9,476.20. This difference (S4,
2i209), though large, does not, in view OF
the improved prospects for the fall, repre-
sent the entire loss Of revenue during the
month. BY report of the Chief Engineer ii
will be seen that the aqueduct will be com
Fleted and navigation resumed on the 4th
instant yesterday.
The span Of the aqueduct has been in
creased from thirty to forty -four feet
and the waterway about doubled. 1t is
built Of cut-stone abutments, with strong
wooden trunk. Some delay in its rebuild
Ing was occasioned by the want of an ade-
Quate force of mechanics; but the great
can6e was in securing permanent and
stable foundation, which was much retarded
BY frequent high water in Tuckahoe creek.
The whole cost Of the aqueduct will not ex-
ceed Sc, 900.
The cost to the company of transferring
irelghts 10 and from the river around the
aqQeduct has been $l,52S.l6. The loss Of
revenue cannot now be estimated, as the re-
Turns for October have not yet reached the
treasurer.
The dam across James river near the
mouth Of Tye river, furnishing additional
ih!et8 Of water to thirtyseven and half
miles Of the canal, was completed on the
Sta ultimo. This dam, with its feeders, is
Quilt Of cut granite laid in hydraulic &C.
inent. The cost Of this work has not yet
oeen definitely ascertained, but upon an
approximate estimate the balance due will
Iot exceed $4,000, of which amount $4,000
has been paid in mortgage bonds of the
company, and the remainder made payable
Two years from the Sth ultimo. S25, ,G49.24
nag been paid on account of this dam from
loG7. =
Inc work on the Blue Ridge dam has been
suspended since the last meeting. The
I,one pm necessary to complete the Joshua
rails dam is prepared, and in position for
':S 'as work. The cost of finishing it is ineon-
''1TTraoIe, II, and it should be done at once.
Inc rents from water privileges had fallen
~" GONE confusion, but actual measure
E': i.eA1s nave been made and the amounts de-
:aIt'e'y settled. The rents in arrears, with
cI'leh' 9g" ,a TO October, 1868, amount to Sl9,-
;-'y.4o, portion of which cannot be real
.I'a. The new leases will probably yield
~, annual revenue Of $4,000.
4ae navigation Of the canal was sus-
fs4aea |"s by ice for forty lone days during the
Inc condition Of the canal has improved
,n.e rau.: 'he last meeting, particularly that
-uYh innaI OF 1t between Lynchburg and Rich
jim a.,1 The most serious obstacles to nayi-
SSa'40n Oh this part of the line arise chiefly
jrsa Sm streams which are permitted to flow
de-, sD 'Ae canal, instead Of being carried an
@71'eaM it.
Since the lst of May sS4, ,444.95 of cur
'E4' revenue have been devoted to urgent