The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1879-07-02

hanawffa Company resumed their deIibera
1tlons yesterday evening nj G. O'Clock.
4 Mr. Barclay, from the coRsnnit,ee appoint
] ed at the last meeting OF the stockholders
reported that the committee had conferred
with General Ewing and Mr.. Parsons, who
informed them that they were still Dursu.
ing their settlement with the creditors
The committee had nothing more to report
NOTICE TO THE RICHMOND AND ALLEGuANY
COMPANY-FUTURE PLANS.
Mr.. T. II. Nowln moved TO take I'D the
resolutions offered by Mr. Barclay at the
last meeting Of the stockholders, and then
laid on the table. Agreed 10.
The resolutions were taken lip and read
as follows:
In conformity with clause D. section l. Of
an act entitled can act to authorize the
James River and kanawha Company to
make sale and transfer OF all its works,
property, and franchises To the Richmond
, and Allegheny Railroad Company, and 10
define the powers and duties Of the Board
! OF Public Works in respect thereto" ap-
proved February 81, 1879, the president OF
s; this company is hereby directed TO give to
! the Richmond and Allegheny Railroad Com
| pany the notice contemplated in said section
and clause. using the form Of notice pre-
pared by the counsel OF the company and
submitted with the presidents report:
Whereas the Legislature OF Virginia, at
/ its session of 1850, passed an act entitled
an act to authorize the james River and
Kanawha Company to make sale and triins-
fer Of all its works, property, and fran.
chises, and to invest The purchaser or pur-
| cbasers with certain corporate rights, DOW
ers, and franchises, approved April ., 1879;
and whereas the change in the policy OF
this company looking to the Abandonment
| OF the canal and the substitution Of rail-
way III its stead, IN the event OF failure OF
pending negotiations with the Richmond
and Allegheny Railroad Company, is uncer-
tain as to the time Of ita consunmaion,
thereby impairing the business OF the canal
and iniurirg the usefulnTss Of the compa-
ny, it is ordered that the President be au-
thoriZed and empowered to confer with the
creditors OF this company 10 see upon what
terms they will settle their Gains against
the company under any sale or transfer aS
cortem plated under said bill or with the
company itself
2. ReSolUed, That the President be au-
thoriZed TO confer with individuals or cor
porations, looking to the substitution OF
railroad for the canal. And whereas such
negotiation may be protractcd, and the
maintenance OF Il sufficient number Of boats
for transportation on the canal may thereby
be ieoparded, the faith OF this company Is
hereby pledged that, without impairing or
interfering with the provisions Of clause II,
section ], OF the act approved February u,
1879, Us to compensation for boats hereto
fore built for use on the canal, in any future
contract for the sale or transfer of the pro-
perty Of this company, ample provision Will
ha Ia th,l n
OF the eqnitabe value OF all boats designed
for use on the canal, tae construction of
which may be, with and under the express
sanction Of the President OF this company,
hereafter commenced Oh the line OF the ca
nal.
COLONEL CABELL'S VIEWS.
Colonel II. c. Cabcll opposed the first
resolution. He thought it would be 4 mis-
take to give the notice at this time. He was
clear III his awn mind That there is no ne
cessty TO give the notice now, and there is
chance to bring this thing to cQnSum-
matiOU. rhr ~""r-o. OF t'rU ulpaily Is OF
the sac opinion. The Colonel then went
on 10 i've his views rs to the good the
Richmond and hlIeghanv Railroad Com
panv has already accomplished in drawing
attention 10 the james. River Valley. and re-
newcd his resolution to adjourn until the
18th, and to give the notice on the 1st OF
August.
MAJOR JoHysToH's VIEWS.
Major Johnston. president oi the James
River and Kanawha Company, addressed
the stockholders, anu gave nj Interesting
account OF recent conferences with the
friends OF the Richmond and Allegheny
Railroad Company, and explained tie posi-
! ton OF the railroad company. He knew
that the Richmond and Allegheny Railroad
Company bad not given up the hope of Ell
| fccting an agreement with the creditors Of
the james River and kanawha Comuany,
but intended to 60 OH and Use their best
! endeavorS to accomplish the end so mucn
desired within the ten days contemplated
in the notice proposed to be given. He
| thought that ii the indulgence asked for
could be granted it would be highly nrati-
tying to the Richmond and Allegheny Rail.
| road Company, and might be the means OF
carrying oct the plan. SO far as he was
concerned, he felt more confident that we
will have 4 railroad up the valley than he
had ever felt. lie would not argue the
question whether it was proper in the
james. River and kanawha Company to
| give the notice or their right to grant the
| indulgence.
| =. APIEA FOR DELAY.
Mr.. Cannon spoke at length in advocacy
OF not being too precipitate in this matter,
| and OF giving the railroad company the
short delay asked for. He spoke in behalf
| OF the city OF Richmond and the people OF
| the valley. He believed there is vitality in
the scheme. II there is nothing better,
don't De too hasty to close up this agree
ment. There is hope and stroDg pro-
bability that If this debt question IS settled
within twenty Or :hrtv days these gentle
men can come forward and put up the
i c5O0. 900 and build the road. Nothing can
| he lost bv a delay Of thirty days: the canal
is not going 10 be ruined i'll that time, and
he hored that with the new element now N
the cOmranv this contract can be carried
out and he road built.
no MORE DELAY.
ColoneI Cabell offered as substitute for
the renort Il resolution adiourning this
meeting ill the 1>t day OF August CATER the
current business is disposed of, and laying
the report on the table.
Mr.. Barclay asked for 2 sealed vote on the
resolution.
argument. lie thought that If the time was
extended thirty days it could be extended
| two years; and thus negative some ol 'he
sections OF the bill.
To his mind the intention OF TIE LcSlsla-
,nre was plain. He was unwilling TO do
violence to this intention or 10 sit quietly
nv and see it done. He bad sustained pc
cIliar relation to the legislation scared,
with great effort, last winter, and he felt
re,uonsibillty in the premises. The sup
DIemental bill passed TO meet this very con
| t....-...o, 81 o,,,iIs kIn opd no oow had strong