The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1876-11-16

From Richmond DOCK. 37,30g 80
FROM rentS... ,US4 Us
Total Tsss Il g ss ss
Increase in tolls ut kich-s,,,, a,.. q: =
Increase msss in tolls at Lynch
burg 1880 SO ~ - ~!
Increase Of tolls a. Bn.nan. ans ,sI. ss , %
Increase Of tolls at Icxins- % '
asEssss 1asEssss II Il sss9s ssss'ssi sssi;sisS
The number of tons moved on tie canal in
1875 was.... ....:......2lI,57O
Decrease. .:.. 2o.14s
The larger revenue derived from smaller
aggregate tonnage than that of 1876, is due,
to the increase in 1876 OF freights of the
higher classes. The gain in, tobacco was.
6,31 hogsheads; in wheat, 42, 2,062 bushels;
and in flour, $3.50 barrels. There. was also
d gain in merchandise g miscellaneous"
and other first, second, and third-class
freights; but a, loss Of more than $4,000
tons OF coal, iron ores, oyster-shells, lime,
and other freights OF the fifth and sixth
classes. :. =! = - 7''-' - =.
There has been no application to the Board
Of Directors for water-power. during the
last fiscal year.
The annual rents for water aud other
property of the, company amount to $780,
1876. "s," @..!2
The rents in arrear which are supposed
to be solvent. amount to $9,829.19. A claim
against the State OF Virginia in the sum of
$5,9G7.25 IS part Of these arrearages. The
State claims larger sum from the company
for taxes, and it is submitted that the COM
pany is not liable for this claim for taxes.
The navigation OF the canal was inter-
rupted by ice for three days during the last
year, and by high water for only two days
until nearly the close OF the fiscal year.
The locks and Lighthouses Of the COM
pany are generally in good condition. A
few Of the locks need cap-sills and other
small repairs, and some lock-houses need
patching.
1t will probably be necessary to renew the
gates OF the ship-lock during this or next
year. The first gates were made in 1854,
and the second in 1866. These latter cost
$12;s32. 49, There being an apparent
weakness in one Of the gates a new gate
has been made, and is. preserved under
shelter. The cost Of this gate was g, ,529.4O
The cost Of two wickets, and OF part Of q
wicket-rod for this gate, and putting it in
place, is estimated at $3.50; making the cost
Of the gate in place 81, 779.40.' The lumter
for another. gate Of the ship-lock has been
purchased, and Is secured under shelter.
The cost Of the remaining gates will be
smaller, because of the lower price OF lum-
Der, The cost Of the four gates, in place,
will probably not exceed S6,250.
l>r,1 ~ ho
few exceptions, are in good order.
Several OF the wooden dams on the second
division require new sheeting. The mate
rails are ali prepared and in place for re-
sheeting Coleman's Falls dam. The stage
OF water in James river during the last
summer prevented this work being done.
i The tow-path bitches, and the drain
bitches from the river into which the cul-
vert bitches empty, have not been kept open
by the landowners on the line OF the canal,
rs before the war. The culyert bitches are
dependent upon these main bitches from the
river for the fall necessary to keep the cui-
yerts clear.
Some OF the culverts on the first division
require repairs. and for this purpose good
mason, with a small squad OF laborers, should
be employed this year. a. :; t.,.r,sta... :;
THE condition Of the canal, as to the depth
Of water in, its. channel, has greatly i'm
proved since 1867. .. III, = .g.,.a.js, 81 !;
The secretary OF the company reports that
the expenses OF the canal during the last
fiscal year were $50, ,7S6.0s. .',:c,s.- ,t.,g,,i
ii Mortgages and mortgage bonds:' First
mortgage, limited to S750,000; second mort
gage, limited to $500, 600 total, 81, ,250, 900.
1.-The out standing mortgage bonds are the
same as reported at the last annual meet
ing-viz,: First mortgage, $3.50, 900; Sc
.cond mortgage, ;000-total, S9s0, 600.
There are outstanding S12,500 eight per
cent, bonds Of the company issued 10Th
July, 1866, under an act OF, the Legislature
passed March 15, 1856, authorizing, among
other things, railroad and other companies
to borrow money at rates exceeding SIX per
cent, The bonds of the company to the
amount of S90, 900 were issued under this
act, and all have been paid except S12,oO0'
..The President next refers at length to the
Buchanan and Clifton Forge railroad, and
saws, amongst other things, that the connec'
ton with Clifton Forge at the earliest prac.
tical day is necessary: to save'the canal ana
every part OF it to the people for whose beE-
eft il was. constructed at n;1mmense COST
to the State. The practical question lsnot
whether we shall have more canal ana less
railroad IN the Clifton Forge connection,
but whether the canal in its present iensth
shall be saved to the State.
The city of Richmond, in the absence Oh
all assistance from others Interested, ae,
ciined to aid to the extent OF S4oo.ooo loa
I the city bonds in the construction OF Lhls
lroad. Is it improbable that, after progress
| is made in the work, this city -Wlll heip III
some form and to- some extent 10 :compie.e
an, Improvement which will make self.sus.
tanning one Of her important channels. OF
trade, and secure to: her and to E;the StaIe
the key to. the line Of transpo ION OF low.
est grade, from the valley OF the MISSISSIPPI
On motion, the report was referred 70
select committee consisting OF Messrs. Jonn
W.. Johnston, OF sBetet tourt ) Thomas w:
McC Cance and III. j.. Straus, OF Richmond
r.. W.. - GrenshaW. and b w ID Bococks 01
Iiynchburg, for @ rep0rt,at O'clock z. iM.,,
to which time the meetingof stoekhol ldars
adjourned. f-iG:G ID :sti3 E9isL<Ys .5ssf ISas.
The stockholders met againat o,olock
iasf nieht and received the report -os Gtfie
Comruittee on the President t's Annual Re.
nart ) The committee recommended fhe
asdontion !, of . resolutions to expedite the
fseonTmencement OF work on the Buchanan
and Clifton Forge railroad; toPetition the
aa;sistnre. to maintain free Of all expense
ti'e, ss ,unyicts lon the railroad, and to- give
ion s cers time for the completion OF said
work: work 10 reduce the pay twenty per centnm
- an ,officers and employ yes receiving over
Sso, per annum, and to fix wages oi car.
nenters u at S1.5o per day. After striking
ant s0 $500 &, and inserting IS 81 ,0oo :, IN lieu
thereof the report Of the committee Was
A resolution was adopted asking tne tae