The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-12-07
THE RAILROAD UP THE JAMES.
FINAL ACTION OF THE STOCKHOLDERS
OF THE JAMES RIVER AND
KaNAWHA COMPANY

REPORT OF THE SUBCOMMITTEE AP-
POINTED At THURSDAYS MEETING-rHE
BILL ADOPTED BY THE STOCKHOLDERS
TO BE PRESENTED TO THE GENERAL
ASSEMBLY TO.DAY-MAJOR JOHNSTON
WrTuDRAws HIS sREsIGSATIoN-THEW WAY
CLEARING UP FOR EARLY WORK, &c, &C.
The stockholders Of the James River and
Kanawha Company resumed the consldera-
ton of the contract with the Richmond and
Allegheny Railroad Company, and the bill
to lesalize that contract, yesterday after
noon in the Office OF the company. A num-
her OF the members OF the General Assem-
bly were present. Mr.. Thomas w. Nc
Canoe presided, and Colonel W. 2. Mum.
ford acted rs secretary.
REPORT OF TUE COMMITTEE OF CONFERENCE.
When the stockholders adjourned on
Thursday committee had been appointed
to consider an omission that had been maze
in the schedule OF debts Of the James River
and Kanawha Company, upon whicn the
Richmond and Allegheny Railroad COM
pany partly relied in making their business
calculations, and which was appended to
the contract already signed by the Rich
mond and Allrghany Railroad Company.
THE BILL IO ffr'SESi cb Az uc->cN-AH
ASSEMBLY.
Mr. Ellyson, on behalf OF the committee,
presented the following bill, which the Pre-
sident was directed to present to the Legis-
lature Immediately and urge its passage:
An Act TO authorize the James Rtuer and
Kunauhu Company to Maice Sale and
Transfer of all its Worhs, Property,
and Franchises 10 the Richmond and Az
teqhany Railroad Company and to De-
fine the Po,cerS and Duties of the Bodrd
of Public Worries in Respect Thereto.
whereas in the act incorporatines the
Richmond and Allegheny Railroad CON-
pany the Legislature authorized SAID com.
Dany to purchase any OF the property ana
franchises OF any work Of internal improve
ment within the limits OF its charter, ana
the said company has made certain PROPOSE
tions to the James River and kanawha Com
panv looking to the purchase Of its property
and franchises; therefore
Be it enacted by the General Assembly
of Virginia: |. l hat the proxies or the
State of Virginia, representing its stock IN
the james River and kanawha Company,
are hereby authorized to vote for the sale and
conveyance OF all the works, property, ana
franchises of said James River and hanaWha
COMPANY to the Richmond and Alleghany
Railroad Company on such terms and con-
di,ions as they shall approve, not neon
sistent with the provisions OF this act. and
with such provision for the creditors OF sald
company as TO the said proxies shall appear
reasonable and lust.
.. It shall be a condition Of such sale that
the Richmond and Allegheny railroad
Company shall deposit with the Board OF
Public Works the sum OF S50O,00O IN Value
in United States bonds, or that amount in
value in other public securities, TO DE ap-
proved by said Board, as pledge ior tue
completion of its railroad from Rlchmond
up the Valley of the james river to Ciifton
Forge, with branch OF like gauge to Lex
;prton from the mouth OF North river or
some other point to be agreed upon by the
county OF Rock bridge and the Richmond
and Anegbany Railroad Company, within
twenty months from the date OF such sale
and conveyance. When the said board
| shall be satisfied that twenty-five miles OF
said railroad is fully completed 1t shall sur
render to said company $4,000 IN value OF
sand bonds: and for each successive section
az TWENTY-FIVE miles which may be completed
an additional amount of $4,000 In value
/ shall be surrendered, and the comp!etlon
4 of the whole work the whole OF the bonds
! remaining with said Board shall be surren-
dered. But on failure OF the Richmond and
Allegheny Railroad Company to complete
4 said railroad within the time prescribed as
| aforesaid, the said bonds so to be deposited
/ by it as security shall be forfeited, ana the
/ same, or so many thereof as may remain
with the Board Of Public Works at the time
of such forfeiture, shall be delivered by salo
Board to the Commonwealth OF virginia,
TO be by her received as compensation Tol
her preferred stock in the James River ano
Kanawha Company. But If from any un'
ioreseen casualties it should be found I'M
practicable TO complete the line withln ne
time prescribed the Board OF Public works
/ shall have power to extend the tune 1or
period not exceeding six months.
\ 3. After final and absolute contract OF
sale shall have been concluded between the
H James River and kanawha Company and
4 the Richmond and Allegheny Railroad
| Company, and within ten days after the
I..)ames River and Kanawha Company shal
have in writing notified the Richmond and
.Mleghany Railroad Company OF its readl.
ness to convey. all its property and fran
lchises in pursuance Of such contract, tht
Richmond and Allegheny Railroad Com
l pany shall make the deposit hereinbefcr'
required on tender OF such conveyance
and il such. deposit shall not then be made
the contract OF purchase shall be and be
come absolutely null and void.
=, 4. Tt shall be provided in said con
i tract that q sum Of money to be agreed
\ 1lpon, not less than $4,000 nor moEe thar
;S5O, 600, shall be paid in cash 10y the Rich
d mond and Allegheny Railroad Company t
1.-THE James River and Kanawha Company
:, and said sum shall be expended and PAL
.iout by the President and Directors OF til
said James River and KanaWha Compan
4 in payment first Of salaries and wages du
officers and employees, and then other cul
lrent debts, and in the payment OF sue
sdebts, charges, costs, and expenses us ma
have been incurred in the administration G
the company since the 1st day OF Mag, 1856
: i, It shall also be provided that th
rate OF dockage ut Richmond shall not eN
eaed the rate at present established by th
james River and lKanawha Company, an
all existing contracts for water privilege
a@epp the entire line shall be respected an
main tanned at rates not exceeding the pres
i eut rates, except in those cases in Whlc
taey NAV be cancelled by agreement er eS
tinauished by condemnation.
S. The building of the said raiiroa
by the Richmond and Alleghauy Ra.Eoa
Company within the time above prescribed
aad the future maintenance thereof, sha
be q sufficient compliance with all the con
dissops on which the franchises OF the Jane
Rixeraaa Kanawha Company were hersso
fore graated to it by The State OF virginia.
Z. The said railroad company may. III
approaching and passing through Lyneh
| burg, aEnange for the temporary use OF any
tracks already constructed for period na