The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1879-07-18

OFFICE OF THE JAMES RIVER AND hANAwHAl
COMPANY. Z
RICHMOND, VA, July IA, 1879.
TO TIE cnEDIrORS OF THE JAMES
EE % TIE Ss LIE Go RF THE
d dNS r lNiEThi}ff n T II y JhM h
The Richmond and Allegheny Railroad Company
having failed make purchase of the works, pro-
perry. and franchises OF This company within the
term prescribed In The act Of the General As
scmbly OF Virginia. approved February 81. 1879.
the supplemental act approved April 2. 1879, and
certain resolutions adopted by The stockholders OF
This company July l. 1879 have become operative.
are in full force, and are published for the iniorma
tlon of ali C0ncerncI-as follows: .s....r
an Act to authorize the James Riper and Ka-
al its 1oorks property. and Franchises. and 10
Rrestthe purchaser or purchasers Cith certain
corporate rights, p0t1erS. and franchises.
GApproved April 1871
ssWbercas the General Assembly OF Virginia has
passed I'm act approved the 81 day Of February,
1879. entitled an act TO authorize The James River
of ali its works, property. and franchises to the
Richmond and Allegheny Railroad Company, and
lie Works IN respect thereto: and whereas II is de-
sired 10 provide for the contingency that the Rich
mond and Allegheny Railroad Company may not
make the purchase Of the WORKS. property and fran
chises Of the JsmcS River and Kanawha Company
as contf plated In said act now, the refore,
II. Be it enacted by the General assembly. That
IN the event that the Richmond and Allegheny Rail-
road Company shall not purchase the works. prop
erty an franchises of tlc james River and Ka-
pawha Com pany within the term prescribed by said
act, that then the James River and kanawha Com
pany Is hereby authorized 70 sell and convey all OF
its works. property, and franchises 10 any other
corporation, person, or pcrsons and the proxies OF
the State OF Vrc mia, repre- enIng Its stock In The
James River and kanawha Company. are hereby
authorized to vote for such sale and conveyance:
provided that the contract OF sale ana CONVEYANCE
shall contain all the prov stems and conditions set
forth and prescribed In the act Aforesaid approved
the 9Th day of February. 1873, aud shall not con-
tain any provisions conditions inconsistent
Herewith, except that any contract made under the
provisions OF Ihis by and with the James River
and kanawha Company, or by and with the Ru-
chanan and Clifton FORGE Railway Company. may
he made at auy lime after he failure of negotiations
with The Richmond and AileShany Railroad Com
pany under the said ACT, approved February 9th.
80. Any sale and conveyance made in pursuance
of the provisions of this act shall pass 10 the pur-
James River and kanawha COMPANY us they exist
at the OF the sale except SO far rs the same may
be inconsistent with The contract OF sale, and The
purchaser shall henceforth tie corporation by any
name which may be set forth In said conveyance. or
In any writing signed by said purchase: and recorded
in the court in which the conveyance shall be re-
corded. And the corporation Tins created shall be
liable to perform Ill the dulles and obligations OF thc
james River and hanawa CompIny &c, except 80 INF
sale The interest OF the pure In the corpora
lior shall be personal estate. ana ne or nis assigns
may create many shares OF stock therein rs he or
they NAV think proper not exceeding together The
amount of stock held In the James River and Kama
same In book 10 be kept for that purpose. The
said shares stall thtuccfor;l be OF the footing of
shares in joint stock companies centrally ex-
cept only that the first meeting of The stock
holders shall be held on such day and at
such place shall be fixed By the said purchaser.
OF which notice shall be published for two weeks in
a newspaper published IN the CITY OF Richaoud.
81 In addition 10 such rights. powers, privileges.
and franchises, are indicated by the preceding
all the corporate powers and franchises necessary
for construc,in2, cGuippns, maintaining, and ope-
ra,ing the railroad contemplated in The act afore-
said, approved the 9th day OF February, 1879,
and by Contract with The Buchanan ana Clifton
Forge Railway Company 10 acquire Its rights,
- Ii shall be lawful for The corporation thus
created TO borrow money to aid In The construction
and equipment Of It's raiiroad ana Tor mat purpose
to mort gage It's works, property. and franchises.
-. This act shall De IN force from lis passage.
At a meeting OF the stockholders OF The James
River and Kanawha Company held on the 1st day
of july. $40. the following order was adopted:
Where's the Legislature OF Virginia At It's ses
sion OF 1889 passed An act entitled An act 10
authorize ihs James River and Kanawl In Company
make sale and transfer OF all its works, property.
chasers with certain corporate rights, powers.
and franchises, approved Apeil 2, 1879: aud
whereas the change Ia The policy Of this
canal and the Substitution of railway In
It's stead. in the event OF failure OF pending
negotiations with the Richn ond and Atlsshsny
Railroad Company, is uneer ain Us to The time vi
its consu munton thereby impsirtnS the Dusfises
of the canal and iut,rng The usefulness ofthe com.
and empowered TO confer With the creditors or this
company to see upon WHIST terms they will settle
their claims against The company undec any sale
or transfer contemplated under said bhf or with
the company Itself.
-Resslved, 2. That the Pl esident be authorized 10
confer wi indiyfduaiS corporsiioet locking TO
| the substitution OF railroad for the canal
/ "ADd whereas such negotiation. may be protrsct-
ed, and the maintenance OF sufictasat number OF
boats for transportation the canal may thereby
be s.oparded, the faith OF this Company Is hereby
pteaxed that without mpa,rtng or Interfering with
The provisions OF clause IA. section OF the acI
approved February ~, 1870, as 70 com pens tIsu
for boats heretofore built for use on the canal. h
any future contract for the sale or transfer Of she
properiy of this company ample provision NH Dc
made TOR tho prompt payment to owners " the
equitable value OF ali boats designed for on the
canal the construction OF watch may be Sith and
under The express sanction " The President VI tas
company, hereafter commenced on the line OF ths
fcAn2l. u 80 E>@ ~
"Resotved, 8. That the President pendingthes'
negotiations. Is instructed to prosecute canal re
pairs TO completion, ane 10 make such arrangement
as win insure the speedy completion ofthe buchanan
aud Clifton FORGE raAroad.m
The undersigned Is now ready to make negotia
ltions, grant permits. aud receive propositions,
Contemplated by said act and Ys olutons.
JOHN ". JOHNSTON.
" 14-eod3t President.
zIDOOKAND JOB WORK NEATLY E1
H. II .ueywNh NnfN