The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1872-12-19

Il uIiOh vi " ouoJSSpf "hiSh WeS @NoPpSa
RESOLVED, That this Chamber concur In the
| above memorial, not only In consideration OF the
| facts and reasons therein set forth, but In add.
ton, that such legislation Will not only interfere
| with and suppress that wholesome and economi.
cal competitor, which tends to reduce the expense
| or insurance TO the citizens Of the State, but also
| deprives ithe State and city OF a large source OF
| revenue now derived from licenses md taxes
levied en- the agents a5d incomes OF these compa'
| MES. The manifest hardship OF compelling these
| underwriters TO invest capital as q source OF secu.
| rity to policy holders OF this State, IN deprecated
| bonds OF 80 doubtful q character, 10 the estima.
ton Of State authority itself, calling even for
| legislative investigation OF the validity OF many OF
the Issues, and q positive refusal to pay the In
| terest on any Of the bonds, seems to be too plsin
| for discussion. Nor would the purchase OF the
| required amount OF bonds, were the companies
disposed to comply, be OF sufficient magnitude to
raise the market value thereof, while such an In.
| vestment would seriously impair the credit OF the
companies, II not greatly weaken the security OF
their policies.
A communication from Captain s. Adkins In
reference to the opening Of a new ship chan.
mel across the bar was read and referred, by a
resolution of Captain F. W. Dawson, to the
| committee on the bar and harbor improve
| ments, for investigation and a report. The
| communication was as follows:
CHARLESTON, december II, 1872.
S. Z. Topper. Esq, President Chamber OF COM
DEAR SIR-Raving been a branch pilot for the
Bar and Harb0r Of Charleston for nearly thirty
| ak years, my attention has been directed from
| time to time to the various surveys by the: gov
| ernmenr, and to the changes and shiftings Wn,cn
have taken plac, within my own knowledge ol
| the bar aud contiguous, and further, from SOUND
! ings made by myself. beg to bring to the notice
or the Chamber or Commerce that there Is q point
| about one hundred yards south OF the WeehaWKen
| buoy, from which, by cutting through the norm
| end OF what 10 known as Pumpkin Hill Snoal, q
| channel could be made having from nineteen TO
tWenty-one feet OF wafer OF me IN low tide. the
| course through this channel seward would De
abont souJheas by east. The distance Though
would not exceed, IN my opinion, seven hundred
| wards, INC L confidently believe, from the nature
Of the bottom anu the vo!ume OF wafer passing
| through 1t, II once opened 1t would remain a per.
manent channel.
perlty Of Charleston, I have thought proper 10
bring this subject 10 your notice: and trastis Wli!
receive the consideration TO winch tne Onsmoer
may consider 1t entitled. -
1am, dear Sir, :. ADAMS.
A communication was read from Messrs.
simons & Smith, calling the attention OF the
Chamber to q new patent duplex cutoff valve,
invented by them for cutting off the steam
from the engines of a ship on fire, and turn
ing it upon the seat of the fire as an extln.
gulsher. By a resolution of Colonel Richard
Lathers the Communication was referred to q
special committee OF five for a report. The
committee was appointed to consist OF Messrs.
Henry Gourdin, VIM. Lobby, Archibald Cam
eron, F. W. Dawson and w. q. Prioleau.
Mr.. James a.. Wilson presented a blank
copy of q petition to Congress for the charter