The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1879-05-29
,sNE. CEMENT. AND PLATTER.
H,O THE BONDuOLDERS OF TIL

ITO THE BONDllOLDERS OF THE
L JAMES RlV Err AND KANAWIIA Company.
Richmond and Allegheny Rallroad Company 10
complete its contract with The Jamrs River and
Kanawia Company Is drawing rapidly To II close.
deem it proper TO urge upon you the Importance
Of 1T once signing the proposition for settlement,
upon which depends The success oil The railroad Gil
Our interests are Identical with yours. We We're
appointed by the general mca!ing Of The bon!h4il-
crS 10 obtain Your subscriptions, anG have no other
motive In addressing YOU than to secure the success
of those measures which were adopted by that cct-
ing for The advancement OF our cOmmo| interests.
Unless we obtain your assent TO This proposition.
which has been carefully shapcd and guarded by
your committee, the railroad canuo, be built.
Ii ii fails. after ill the time and money expended
In bringing II To lis present STATE OF comparative
success. It Is not probable that other caDt'tiist.
will be willing 10 commence anrw an rn'!ertaking
which those who most To nc benefited By il have
shown their unwiiliugncss tn assist.
We have received no interest upon our bonds Tor
two years or more. We have not tn: slightest pros.
poet Of receiving any from the James River and
hanawha Contrary in the future: II We LOOK 10
rs an alternative: The prospect Is remote, Cloudy
aud uncertain,
TO our e!r )rt5 Ia that direction we must cxpect 4
strenuous resistance from he company and tedious
litigation which may bt prolonged for wears. In The
end, when a SAFE Is oblaincd, the purchaser must
take the property with The burthcn OF the franchise,
which requires Il canal to be oncra'cl from Rich
mond 10 buchanan. Il being demonstrated by The
past history Of the company that the canal cannot
be operated ii its entire length except al loss, WHO
will rurcha with the bur.hcn Of this franchi,c?
On the other hand, by accepting tHi5 pioiosElIn,
II Is true that rcinquiSh portion OF our d9ht;
but 10 the remainder, We obtain security Tor nc
Immediate payment of our interest In advance, and
The payment of lie principal in three years.
AS security. we obtain. in the first place, all that
there Is of value in the canl-viz. the revenues Cf
the Richmond dock and the water power. The rest
isan incubus. which annually absorls The income
which should lie, but never l.. applied Ia the pay
ment OF our Interest. Thee gross revenues are 10
be placed ut once In the hands of own trustees.
second place.
whole property Of the James River ana hanawha
Company until such times as the railroad company,
having deposited the 100000 required by law, are
prepared &c issue their own iirst-mortg7ge bonds.
They then give us first lien upon the gross reFc-
nues of the dock, and. IN addition, an amount or
their irst-mortgase bonds, as collateral security,
equal TO the amount of their Indebtedness for tie
NE do not surrender our lien upon the entire pro-
perry of the company until all liens are eXIneuish-
ed, except trding debt to the State OF Virginia,
II the railroad company fails 20 make the deposit
OF 100000 required by law we cannot be Injured.
because in that event our agreement Is void and our
bonds remain in our possession. III tley ID CON.
p!ete their contract by making The deposit IS sut-
cient guarantee Of their ability 70 carry the enter
prise TO successful issue.
We have manifested our faith In Tie scheme and
the security offered by subscribing orr own bonds.
done likewise. But Is Is necessary that all shall
come into this arrangement.
Ii those who yet standing gu. refuse to Coop
crate with us, what have they 10 eXpecp They VIII
cause the failure or this great project. the rcaliZa
non OF wnlcn u SO aruenIy ues on al ,.lk.n ,
the Gordian knot OF the difficulties In which their
interests are iavoived, and they have nothing to
look 10 In the future but continued disaster, de-
pressed values. and prolonged litigation, win
doubtful aud unpropisjng termination. Less than
month remains within which 10 consummaIe the
complicated arrangements for this great undertake
Ing. AS we understand aud are inforned- It's sue
cess failure depends upon your immediate action.
There is no time 10 be lost. There's lime 10
jeer and mature new or different schemes. We there
fore urge all who are yet doubling 10 make up their
minds and act without further deIay.-We do not
hest ale 10 express 10 you dcep-sea,cd conyic-
ton that further delay will be aai TO The success Of
this great ana important cnte. prise.
! II, JOHN STEWART. Chairman.
EDWARD H. FISHER. Secretary.
Richmond, May "a, 1879