The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1879-07-16
OFFICE OF THE JAMES RIVER AND KANAWHA
loAN11, y --'--..I,-f. COMPANY.
- RICHMOND, VA. July IA, 1879. }

OFFICE OF THE JAMES RIVER AND KANAwHAl
~. RICHMOND, VA. July IA, 1879. ,
ITO THE CREDITORS OF THE JAMES
RIyERn AHR kA "a WqHk f GfSE Of fBE
9Hsk !sH HE5hiDpffss TIE II fSh
The Richmond and Allegheny Railroad Company
having failed to make purchase of the works pro.
pcrty, and franchises Of This COMPANY within inc
sembls OF Virginia, approved February ~: 1879;
The supplemental act approved April 2. 1879, and
HsTan 9y Become Operative
are In full force, and published for the iniorma-
tion OF all concerned-as follows:
na,oha Comp dny to maize sale and transfer Of
az as aDorks ad .a;tT and 10
corporate rights, poaoerS. dndJrdnchtSes.
fApproved April! Q 1891
"Whereas the General Assembly Of Virginia has
passed an act approved the 9Th day Of February.
1879, entitled an to authorize the James River
and Kanawha Company to make sale and transfer
of all It's works, property: ana tranchlses 10 me
to dene the powers and duties OF The Board Of Pub
lie Works In respect thereto: and whereas 1t Is de-
sired 10 provide for the contingency that the Rich
make the purchase Of the worEs property and fran.
chises OF the james Rt1er.and hanawha Company
as conts mplated In said act now, therefore, r,,,
In the even, thai the Richmond and AIlephany Rail-
road Company shall not purchase the works, prop
eriy. and franchises OF the James River and IA,
pawha Company within the term pres crilcd by said
| acr, that then the James River and kanawha Com.
pany is hereby authorized TO sell and convey al OF
corporation, person, PERSONS and tue proxies of
The State OF Eirslnia repret enng Its stock In the
| james River and Kanawha Compsny, are hereby
auihorizei to vote for such sale and conveyance:
provided that the contract OF sale ana conyeyance
hs contain all hs n fTa t sne
the 9Th day OF February $40, and shall not con-
tain any provisions or conditions inconsistent
provisions OF this act by aud with the james River
and Kanawba Company or BY and win the su
be made al any time after the failure of negotiations
with The Richmond and Alleghany Railroad Com
pany under tho said act, approved February 9th,
80. ANY sale and conveyance made in pursuance
Of the provisions Of this act shall pass TO the pnr-
james River and Kanawha Company as they exist
at the TIME Of the sale, except SO far US same may
be Inconsistent with the contract OF sale, and The
purclias er shall hencpfOrh he corporation by any
name which may be set forth in said conveyance or
in any wriug signed by said purchaser and recorded
the court IN S Mhen ns @ cTead ng be
liable to perform all the duties and obligations of the
james River and kanawba Company; except so far
as the may be inconsistent with the contract of
sale. The interest Of the purchaser in the corpora
ton shall be personal estate and he or his assigns
may create SO many shares OF stock therein rs he or
they may think proper not exceeding together The
amount of stock held in the james River and Kama
wha Company at the time of sale, and assign the
said shares shall thenceforh be on the footing of
shares in joint stock companies generally, eX-
holders Shall be held on such day and at
such place shall be fixed by the said purchaser,
anewspaper published in the city Of Richmond.
80. In addition to such rights. powers, privileges,
and franchises; as are indicated by HE preceding
| sections, the said purchaser shall be- Invested with
all the corporate powers and franchises necessary
for constr uctinr, cquippnr maintaining, and ope.
said. approved the 27th. day of February, 1879,
and by contract with The Buchanan ana Clifton
Forge Railway Company 10. acquire Its rights,
4. Ii shall be lawful for the, corporation thus
created TO borrow money to aid In the construction
aud equipment of its railroad. and Tor that purpose
to mortgage It's works, property, md franchises.
- S. This act shall be IN force from lis pas sage
At meeting Of the s.ockhelaers Of tn the James
Of July. 1879. the following order was adopted:
where's the Legislature OF Virginia at its ses-
authorize ihs Jatnes River and Kauawha Company
TO make sale and transfer OF all Its works, proptraS
and franchises and to invest the purchaser or Dur
and franchises approved April e: 1872 ane
whereas the Change in The p9Gy OF Of ne e
canal and the substitution of q railway Nm IN
It's stead In the event Of; failure or p enunS
4 peeoti atious with 1.-The Rch1l ond and Alieghauy
Railroad Company, is unceria ain as to The time OF
its consummaiion, thereby fmpairinE inc buslno,
the canal aud INC authorized
and empowered to confer with the creditors Of ms
cpmnany;to see upon what terms they WI! se.t,e
ltheir claims against the com pany under any SAFE
or transfer as contemplated under said DILL or WIZ
'SReso1ued, 3. THAT the President be authorized 70
confcr with individuals or corporations looking tc
| the substitution Of railroad for. the canal
i"And whereas such negotiation may he protract,
| Oh and the maintenance Of 4 sufficient number OF
GOATS for transportation on the canal may thereby
he jeonarded the faith or this company ts hereby
D'cGged that without iu,1asrng or Interfering with
The provisions of clause ! e section l, OF the ac
annrov.d February 27, 1879, as TO compensation
for boats heretofore built for use on the canal In
,ny futurc contract for the sale transfer Of The
property Of this company ample provision will bs
m sde for The prompt payment TO owners Of the
eonitape value of all boats designed for on the
canal the construction of which may be with and
under The Express sanction Of The President of this
company, hereafter com menced on the line Of The
canal. -@at =. .'.
| "Res0lued, 8. That the President. pending these
negotiations. is Instructed to prosecute canal re.
pairs 10 completion, and to make such arrangement,
as will insure tie speedy completion of The Buchanan
and Clifton Forge railroad.'
| The undersigned IS now ready to make negotia-
lions, grant permits. and receive propositions, a.
contemplated by said act and resolutions.
| JOHN W, JOHNSTON