The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1879-11-13

For wear ending aoth scnie ember, 1879. ..15a'966
| For year ending 30th September, 1S7e.". lza'o"I
ncresse............... 34.l64
TOLLS AND DoCKAGE.
At Richmond office there was an increase
in tolls received of say $4,000 during tne
last quarter, and 4 decrease OF say S2,0Oo
during the first three understanding il
net gain OF sav 81 900 for the fiscal year.
In receipts from the Richmond dock there
was an increase OF sav~S2, 800 during the
last third, and decrease OF nearly the same
amount during the first two thirds-maklng
net gain CT Ss.15 for the fiscal year.,
This marked increase, both in tolls ana
dockage, at Richmond offices for the closing
months OF the last fiscal year is followed ny
q somewhat larger comparative increase lol
| October.
At the Lypchburg Office there was a de-
crease of about $4,000 in tolls received on
account OF the company. This is attrlDuta'
BILE in part to the great falling OH IN lear TO-
bacco for shipment from Lyncnours 10
Richmond, in part to sharp railroad compe'
tition, and in part to the peculiar disadvan'
tages and embarrasSments under which we
have labored during the last fiscal year.
An the tolls OH the second division, fol
the whole of the fiscal year, went to jordan.
Ballard & Co., under the terms OF the con-
tract with them for requiring the second dl'
vision. -..
The total receipts OF the Lynchburg Office
on account of the company and OF JORDAN
Ballard & Co., exceeded slightly those OF the
last fiscal year.
EXPENSES.
The expenses of the company for the
wear ending the 30th OF September, 1879
were Sl56 322 ga decrease compared Will
the previous year of S23,327.14.
The report contains much information
about the repairs to the canal and the pro
eress of the work on the Clifton Forge rail
road.
RAILROAD NEGOTIATIONS.
In reference to the railroad negotiations
it says:
Immediately after the failure OF negotia'
tions with the Richmond and Allegheny
Railroad Company-say about the middle ol
July, lSI9-propositions were invited, by
advertisement, for the purchase OF oui
works, &C., under The supplemental bill ap'
proved April 9, 1879. This by virtue ol
YOUR action at the July meeting. Ehert
have been no propositions made, though II
was confidently expected for some weeks
that there would be proposition from Ger
tain parties heretofore identified with the
Richmond and Allegheny Railroad Com
pany and others.
There have been inquiries from some Of
these parties as TO whether this company
would part with its control in the Buchanan
and Clifton Forge railroad, and as tc
whether this company had 4 right to buiC
or authorize 4 railroad from Buchanan tc
Lyuchburg. Answer has been made that
the management of this company had al'
thority only to treat upon the basis OF the
legislation OF last winter, which Legislation
coutemplates, under ccrtsin conditions ant
restrictions prescribed by the stockholder:
and bv the Legislature, I railroad through
to Richmond.
Recent events have, it Is believed, tended
to increase and intensity the interest OF tht
people OF Richmond in the early develop
ment of the James River Valley. There art
many and weighty arguments in favor o
the proposition that the city shall furnish
such material aid rs will secure the compile
ton OF the Clifton Forge connection anC
the extension of the railroad down the rivel
to Richmond. It has been suggested that
the requisite aid be based on such conSoli.
dation and reorganization Of the two com
panes as will secure to the city protection
for her great interests, and at the same time
leave to the State Of Virginia and other
stockholders certain interests and repre-.
scntation. This, Of course, would involve
stockholders is invited to this matter in all
OF its bearings.
| NEGOTIATIONS WITH CREDITORS.
| In pursuance of your instructions at the
July meeting negotiations have been open.
| in tn fho
| tion and consolidation Of our Indebtedness.
We have been met by the plaintiffs in the
two foreclosure suits pending against this
company, and By the creditors generally,
| so far as they have been seen, in a kindly
spirit of accommodation and compromise.
Very considerable progress has been made
in etfectine aud closing the optional pur-
chase of first and second-mortgage bonds
propcsed on behalf of this company, and
Efforts in this behalf are being continued.
The cities Of Richmond and Lynchburs
desire certain arrangements with this com.
nsny in order to reliable, permanent, and
Increased water supply for city uses. Some
nropress has been made In the negotiations,
and good hopes are entertained that they
will so result as to afford substantial rellef
to this company.
Tn order to the consummation OF present
nlons for the reduction and constellation OF
Cur Indebtedness certain important Iegisla--
tion will be necessary. 1t is recommended
tbat the stockholders at this meeting take
definite action in the premises.
THE CLIFTON FORGE CONNECTION.
Altar successive and yeXatious dlsap-
poiutm.nts, arising from delay in compile
lion OF canal repairs and other causes,
work was resumed on the Buchanan ana
chiffon Force railway about the lst OF Sep.