The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-11-29

Railway Company may arrange for the
temporary use OF a railway already con-
structed.
The substitution OF railroad for the ca
nal as a line OF commerce shall be so man
aged as not to interrupt the business on the
canal during the. progress OF railroad con-
struction on such parts OF the canal as are
not necessarily occupied by the railroad
company at the time OF construction.
The rate OF dockage at Richmond shall
rot exceed the rate at present established
| by the james River and Kanawha Company,
and all existing contracts for water priVl-
| leges along the entire line, shall be respect
| ed and maintained at rates not exceeding
| the present rates, except in those cases IN
which they may be cancelled by agreement
or extinguished by condemnation.
Fifth. The Richmond and Allegheny
Railroad Company snail deposit with the
Board OF Public Works OF the State Of Vir-
ginia the sum of S500,000 in registered
bonds Of the United States, to be held by
said Board as security for the faithful COM
pletion and equipment Of the railroad afore-
said. When the said Board shall be satis-
| fed that twenty-five miles OF said railroad
is fully completed it shall surrender to said
| company $50, 900 OF said bonds; and for
|
which may be completed an additional
amount OF $4,000 shall be surrendered,
and on the completion Of the whole work
| the whole OF the bonds remaining with said
Board shall be surrendered.
Sixth. The James River and Kanawha
Company shall make an application to the
| Legislature OF Virginia for the passage OF
an act legalizing and approving this con-
tract, and investing the Board OF Public
Works with full authority to act under its
provisions, and il such legislative sanction
| is not obtained this contract shall not be
binding on the James River and Kanawha
Company.
Seventh. So soon as the sum provided in
the second clause Of this agreement has
been paid, and the sum Of S500,000 in
United States bonds has been deposited
under the fifth clause in this agreement, and
the act of the Virginia Legislature contem-
plated by the sixth clause of this agreement
has been passed, the James River and Ia
nawha Company, by sufficient deed, shall
convey to the Richmond and Allegheny
Railroad Company all Of its property,
estate, rights, and franchises, in fee-simple.
Eighth. 1t is understood that the contract
herein contemplated between the Richmond
and Allegheny Railroad Company and the
.James River aud Kanawha Company is
conditioned upon a satisfactory agreement
and contract between the Richmond and
Allegheny Railroad Company and the
Buchanan and Clifton Forge Railway Com
pany.
Respectfully submitted.
ISigned] JOHN W. JOHNSTON,
s.> Chairman.
GENERAL EWING PRESENT.
The report having been informally unani-
mously adopted, General Ewing. Mr.. Rice,
and Mr.. Parsons were sent for.
General Ewing appeared in response to
the committees invitation, and the chair
man, General Logan, informed him OF the
action of the committee upon the report.
The secretary read the report TO General
Ewing. ~
On motion Of Mr.. McCance the commit
tee adjourned until P. NJ, and General
Ewing took the paper under consideration.
Afternoon Session. -.
The committee resumed its deliberations
about P. M.-General Logan in the chair.
The Chair stated that the committee had
adjourned in order to allow General Ewing,
representing the Richmond and Allegheny
Railroad Company, time to examine the pro-
posed contract. 49,. . 4.
General Ewing said there were few
COmDaTaG1fetS
which he would be glad TO have made to
the contract. These amendments were ac-
cepted, and appear in the report above.
/ The report having been adopted gene
rally, Mr.. Nowlin inquired Of General
Ewing whether the contract was acceptable
to him and the other representatives OF the
Richmond and Allegheny Railroad Com
pany present.
General Ewing: Undoubtedly, sir. I see
no objection to the S500,000 proposition as
q reasonable guarantee for carrying out the
contract. The earliest that we can commu-
nicate with our Board Of Directors will be
on Saturday, when the papers can be for
mally signed.
The statement of General Ewing appear
ing to be satisfactory, on motion OF Mr..
Ellyson the chairman was directed to re-
port the result to the stockholders. Agreed
to.
On motion OF Mr.. Ellyson the committee
meeting adjourned.
Meeting of Stockholders
Immediately after the adjournment Of
the committee the stockholders met-Mr.
Thomas W. McCance in the chair.
General Logan presented report COM
plimenting the energy displayed by the Of
iicers Of the canal company during the past
year, and also the above agreement with the
Richmond and Allegheny Railroad Com
pany,
The report embodying the contract was
read. and on motion of Mr.. Ellyson, unani-
mously adopted.
pFcIcN.T1oN oF MAJOR J0HNSToN