The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1872-12-11

sale OF Sl04,5o0, part OF the above S18S 300,
at from 85 TO 66a, netting $685. & 1876, and
| the payment in full Of the above s1n3, 900
| with interest, and the reduction of this old
debt on the Both September. 1879, to the
sum OF $40, 52a.9s. The following statement
shows the mortgage bonds of the company
Issued to the 30th September, 1872: =
First mortgage bonds Issued to September
Firs, mortgage bonds Issued from let De-
1oher 1871, tn Goth September, ls7?.. lss,3po ID
Second .notgagc bonds ico,e SS %
I"tai...'.,....... $4,000 90
At an early day after tho war suits were
| instituted in the Circuit Court of the City of
Richmond by parties holding bonds of
| the company guaranteed by the State OF
Virginia for the accrued interest on these
bonds, and also asserting the right TO be sub
stituted for the State in the mortgages exc.
| cuted by the company to the State at sundry
times prior to 1860, but released to the COM
pany by the legislation of that year. This
claim Of the guaranteed bonds Of prior lien to
| the bonds OF 1867 for time depressed the
value OF the first mortgage bonds of the COM
pany, aud the claim for interest (which as
between the company and the State was n
debt Of the Statc( has for years past threaten
ed the company with an embarrassing judg-
meut. Since the last annual meeting the
| Circuit Court OF Richmond has decided the
! aforementioned claim favolably TO the COM
pany, and it is hoped that satisfactory ar
rangemcnt can be made IN connection with
the claim FOR interest. Whatever is paid on
this account will stand as debt due from
! the State Of Virginia to the company.
| The litigation in connection with the State
bonds issued to the company during the war,
and before reported to the Board, has re-
suited in Il decree of the Circuit Court OF
| Richmond at its term in 1872, which is
herewith reported for the information of the
Board. 1t is not probable that final result
will be reached in this case except by de-
cree of the Court Of Appeals.
In obedience to instructions to memorial.
lie the Legislatures of Virginia and West
Virginia in reference to the appointment
of n Board Of Commissioners, and the
| extension of the charter of the COM
pany rs indicated in the report ut the
last annual meeting, a memorial was
presented to the Legislature Of Virginia OH
the 18th Of December, 1871, and to the Lee
2islature of West Virginia on the - day OF
-, 1872. This memorial to the Legislature
Of Virginia, and the bills presented to the c
States respectively for adoption, and The
bill Us passed by the Legislature of Virginia
with communication from Colonel w. W
Gordon. counsel for the company in West
Virginia, in connection with this subject, arc
also submitted for information. The bill
was presented at an early period Of the ses
sion of the Legislature Of Virginia with the
hope of its early pasSage-among other things
TO secure like adoption by the Legislature
Of West Virginia. This bill, as amended,
was not passed until the 18th day Of Febru.
airy, 1872, too late to secure, in the face Of q
fierce opposition, its adoption by the Legisla-
ture of West Virginia. The bill as passed
by the Legislature Of Virginia secures Il con-
tinuous charter to the company, and for the
first time in its history the charter of the
company is frecd from ali forfelting proviso>.
The wisdom Of your instructions in connec-
tiOn with the appointment of commissioners
by the States OF Virginia and West Virginia
with full power to dispose of the interests
of these States in such manner as to secure
the completion Of the canal was justified al
al early period after your last adjourn.
ment 10y the presence of representative
Of English capitalists desiring to know tho
terms upon which these States would per-
nit the completion of the canal to the Ohio
river accompanied with his satisfactory per.
sonal assurance that If an acceptable re.
Spouse were made witt favorable report
from the Engineer and law officers repre-
Sentiag these capitalists the necessary means
would be provided to secure this great oh.
icct. The bill as proposed by the company
was satisfactory to this representative, aud il
is deeply 10 be regretted that the bill al
passed was such rs to put Ill end to al ne
| III n
the proposed legislation was not to with.
draw The application to the General Govern
ucnt to complete the canal, but to increase
the probabilities Of its completion.
At the last session of the Congress of the
United States a bill for the completion of the
canal was presented and referred to the Com
mittec on Commerce. This bill, with sug-
geSted amendments, was communicated by
leading members of Congress to General
Humphreys, Chief Engineer of the United
States. with the request that he would revise
| the same and make such changes as to him
might appear best. General Humphreys re-
| turned the hill with amendments proposed
under his direction by Colonel Craighil, a
distinguished officer of his Department. This
amended bill was reported TO Congress and
referred to the Committee on Commerce. In
the opinion Of leading friends of the canal in
Congress the period was untavorslb!e for
pressing at the last session Of Congress
either report upon the committee or
the passage Of the hill. Application
was made 10 Congress for further appro.
priation for more detailed survey of the
canal. This was with special reference to
that portion Of the line west of the ALE.
ghany mountains. This appropriation was
+ made; also. q like appropriation for the ka'
nawha river, and for the New river from the
mouth Of Greenbrier up to the lead mines
This work below the mouth of Howard's
creek has been completed by Z. Lorraine
Esq, under the direction Of Colonel Craig
hill, in charge of the survey. 1t is hopeC
that the report of Colonel Criighill will BIZ
made at IN carly day of the next session o
Congress. 1t is submitted that the compile
ton Of the canal to the Ohio river by thu
, General Government should be pressed upon
the attention OF Congress at its next session
The short period Of that session may he al
unDropitiolls feature Of success but in view
of the vast local interests of the States O
Virginia and West Virginia in this grea
work, and the greater interests of the who'll
country, we should labor for success withou
batting TO consider difficulties.
Respectfully submitted. BY order Of tb
Board Of Directors.
CHARLES S. CARRISGTON, President.
The Alexandria Sentinel says Mis-
Julia. daughter of Bishop Johns, has lnau