The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1877-12-11
Clifton Forge via the James River and IA
naWhn canal - I. 2 n - - {

! 2. That the State OF Virginia shall fur
nish free of cost to the company, for the
maintenance, proper guarding, and medical
attendance, not less than three hundred pen.
itentiary convicts to aid in the construction
and repair OF the road. - 90 = 80 -
.sa3. That. the said company shall give a
mortgage to the city OF Richmond upon
all its property to secure said loan. > "a
4. Tbat.in the directory OF said company
the city of Richmond shall have repre-
sentation of five .ninths, the State Of Vir-
giDia representation Of three ninths, and
the private stockholders representation Of
one ninth -, -r4 r
5. That ali the revenues Of said company,
including the Richmond dock and the first
+water-level, shall be devoted first to the
payment Of interest upon all its bonded in.
debtedness, and then all the net earnings to
be divided equally between the city of Rich
mond and the company.
6. That il the consent OF the Legislature,
on behalf Of the State, and the stockholders,
on behalf Of the James River aud Kanawha
Company, be obtained to this proposition,
then our representatives In the General AS
sembly are hereby requested to have the
9th section OF chapter Of the charter for
the city of Richmond so amended as to give
our citizens the right, by vote OF three
fourths Of the legal voters of the city voting
on the question, and also by majority OF
the registered freeholders Of the city, to
subscribe the said sum Of 100000 for
the purposes hefeinbeiore mentioned.
. Mr.. Meredith said he was in favor of the
resolution IL bill could he properly
framed SO lis to protect the city Of Rich
mcnd.
Mr.. Cannon spoke in favor Of the scheme.
He said we had but little time in which to
60 to work to build the road, but that II
the scheme be feasible one now is the time
to act. He thought that our engineers
and he mentioned Mr.. Whitcomb and Colo
mel Cutshaw-could furnish the necessary
information as to the cost Of the road. He
believed the road could be built by July il
work was speedily commenced. tsa
Mr.. Meredith spoke again, and at length,
very warmly in advocacy of the enterprise,
and said we have every reason and every
inducement to build this road up the rich
valley of James river. He said the receipts
from the dock and the water-rents would
pay every dollar Of interest on the money
expended by the city in the road. BE was
opposed to spending any money in repair
ing the canal. Just as certain as the canal
is repaired to Lynchburg just so certain
will road be built from Clifton Forge to
Lynchburg. -.-... ,.-.. ...s. . 81.
Mr.. Cannon Gnterrupting) said he had
been informed that bill would be intro
duced, il it had not already been, to con-
struct road from Clifton Forge to Lynoh-
burg. ..
. Dir. Meredith spoke at considerable length
and Of the great advantage to accrue to
iah no n
ought to let the canal stay where it is.
Richmond ought now to put her shoulder
to the wheel and prize herself out OF the
mire. Therefore while he could see some
defects in the resolution, at the same time
he.was of opinion that the resolution was
an entering wedge for the Legislature,
and he was glad that the move had been
made. ,.
Mr.. Cannon said he saw present citizen
and large tax-payer-Mr. Franklin Stearns-
who was greatly interested IN this scheme.
and hoped the Board would invite him to
address the body. .........- s..,,s
Mr.. Todd said be had been greatly graft
fed at the favor which his resolution had
met with. He had no idea of reaching a
vote this evening, but thought especial NEST
ing Of the Board could be held, not later
than Monday next, when the subject could
be further considered. .- .ia.1
Mr.. Cannon withdrew his motion extend
ing an invitation to Mr. Stearns, and Mr.
Todd..moved that the subject OF his resolution
be postponed until Monday next at s p. N.
Agreed to. #..a ..7,' +"
Mr.. Todd amended his resolution in the
fifth clause, after the word indebtedness, so
as to read as follows: -, ,..- .. .,
In the following ratio. Three per centum
per annum interest upon the iace-yalue OF
all mortgage-bonds OF said. company now
in existence (subject to the acquiescence Of
the holders Of said bonds), and six per
centum interest upon all bonds hereafter to
be issued. a. r'sia,:ga... -: -
Mr.. Cannon presented a resolution in
viting Major 81. D. Whitcomb, engineer oi
the James-river improvement, and hr
Franklin Stearns to be present Monday and
give the Board, their views and such infor.
nation: as they may have in regard to the
subject. Agreed to. e.: :at-l {" 3" t#
adjourned. v !,