The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1879-03-22

ktchmond and Allegheny Railroad Com
pany doth hereby purchase from the James
River and Kanawha Company all OF said
works, property, and franchises.
And it is contracted and agreed that the
sale aforesaid is made on and subject to all
the consideration, terms, conditions, pro-
visos, stipulatons, and limitations set forth,
declared and provided in the act OF Assem-
bly, hercinbeforc recited, and or none other
And each party to this contract binds
itself 10 the full and faithful performance
and fulfilment, on its part, OF all the re-
qurcments imposed on said parties re-
Specively by the act aforesaid.
And 1t is especially understood and agreed
that this contract is made by the Richmond
and Allegheny Railroad Company with full
reservation by it OF the right provided by
the third clause OF the first section Of said
act 10 declare the annulment. Of this con-
tract in the event OF the failure 10 negotiate
an equitable settlement with the creditors
Of the James River and Kanawha Company.
A schedule OF the debts and obligations
Of the James River and Kanawha Company,
which is required by the first clause OF the
first section OF SAID act, IS hereto appended,
and is made part OF this contract.
In testimony whereof the parties to this
agreement have caused their corporate seals
to be affixed hereto, and in further evidence
thereof have caused this agreement to be
signed on the part OF the James River and
kanawha Company by its president and
secretary. and on the part Of the Richmond
and Allegheny Railroad Company By its
viceepfesident and secretary; the same
being done in duplicate this day OF
in the year 1879.
THE DRAFT APPROVED.
On motion OF Mr.. II. &. Cannon,
ReSoired, That the said draft OF con-
tract is approved, and that when the Rich
mond and sAleghany Railroad Company
have sisnifed their acceptance OF the same
and readiness to execute it, and when the
same has obtained the approval Of the At
torney- General OF the State, which is re-
quired by the act Of the General Assembly
approved 9th February, 1870, and when Il
satisfactory contract and agreement has
been made between the Richmond and Al
lcghany Railroad Company and the Bu-
chanan and Clifton Forge Railway Com
pany, as required by the second section Of
said act, that then the President and Board
of Directors OF this company are author
ized to cause the same to be executed on
behalf Of this company simultan eously
with the execution thereof ny the Richmond
and Allegheny Railroad Company.
The resolution was unanimously adopted.
THE SUPPLEMENTAL BILL.
On motion Of Mr.HCannon it was
Resoiued, That the President be requested
to address memorial to the General Assem-
bly, Of Virginia asking, on behalf OF this
company, the enactment, 1T this session, OF
the supplemental Dill now pending, entitled
"a bill to autiiorize the James River and
Kanawba Company to make sale and trans
Ter Of all its works, property, and franchises,
and 10 invest the purchaser or purchasers
with certain corporate rights, powers, and
franchises"
Adjourned to meet on Friday next at 5
P. NJ.
An adjourned meeting OF The buchanan
and Clifton Forge Railway Company was
held after the adjournment OF the above
company, and the President submitted
draft OF a contract with the Richmond and
AlIec hany Railroad Company, which was
approved, and the President authorized to
execute the same simultaneously with the
execution thereof by the Richmond and AL
legllany Railroad Company.
Adjourned 10 Friday.