Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1882-03-22
The C.. O. %. Canal.

A. the meeting Of the stockholders IF the
Chesapeake and 0 10 Canal Company. 10 Az
oaDo!is Yesterday, letter was received from
Mr. Gtrasn resigaing lis position as president,
which wss. On motion of Mr.. Compton, laid
over till Ice June m:oIiyg.
a special repsrs Of the rresids1S aud dir5c-
tors c,i;5 altcntioa 10 toe us:lessncsJ for
purposes Of navigation 10 that portion of the
"a .sl b:;weea Rack cr,tk add l7:h stree:
wes', ID hs city CT Washington, sud rscor,
mendS that Committee be appointed t, c,u-
slGor TO sdVlsstiIlity Of selling this part ct the
work, eCd oppl5icg iae proceeds 10 e sinking fund
fer tho redemption nt tho Tepsir bonds ISSUED
ueder tbs sot ct 1878. At tho ennual meeting
90 June G. 1881, the p,esdeot end directors
VIE eu.btr d 20 dispose ut tho repair buds
Issued ucdr rhc aci of 1878 to 60 am:unt not
szc:cdloS $3.50 005. fer lho pu:pcse OF length
ctiig no locks OF the c'Csl. or TO U:e tho u :
rect reV:uue. or bc,h, FIR tbis OK i,ot Mater
q! Wss purclsstd aud other erra~ gemspis
naGe tGf The frightening OF twenty cck9 by the
first of April, Ia! the b,ard ,urd il impos:i
BIO 10 sill tni irsi Ierab!e N quot of the bonds
st their faee vaiu:, and this with tie reduced
reveCu, CT tho canal, prev :Dte6 tbs lengthen
ing CT moro than oufteen lncks, which will be
completed by the lst IF April
Though the direct benef. from this exoend-
tura c:nuot be rtai;z ID uasil at least nineteen
nero # tho lccks have tom leDslhsr !, IL g
toard Jnsider thst the i'm prov nelt viii reauit
in suSst! niial ban fis, as has baan found t. te
tha casa In other CALAIS. Referii6g to The Gov.
crIo e recommendation to TIA LIZ gi,lature that
tia sct olSiS TO so amended as ~ preveut the
1. ,pt 70
dsnlagoto original work, it is declsred that, with
such Recommendation, it will b. Impossible to
dup ,ae Of these bonds hereafter ct sny far price
To coLtiEus the i'm .rov meots commenced Tie
0oErd must depend upon the revenue o: the
canal, unless they shsli be su.hor;zsi to issue
toll csrtifc:t's to be disposed Ct to lhs cca COM
palits or 10 thcee intsreat in the repair bonds,
under The act Of 1914. Win tho latter arrange.
mont the nineteen rels!oing locks could be-
complated before tao opening of navigation
in 1883. a-d it il auggat,d ttas The
SUBJECT DO referred to 8 SPECIAL Committee,
TO confer with the holders of the binds of 1854
.Ihe cost repair Of damage by e. BOD OF 1877,
$229 50o Il, ard the whcls number of rep:ic
b)Ldi " 1918 sold and outstanding on the 1st OF
Jsausry. 1882 was Sl24,t leaving balance
o SlO4 coo y, which the bo,rd is advised it has
III right to sell n rGplacs the expenditure FIR
d6lnapes. In addition to the bonds sold there
are S,(o 900 deposited IS collateral security for
temporary loats Alludiog TO tho contrsc! %, d,
ia Hsrch, 1877, with the Cumberland aud
SeoZgs's Creek Railroad Company and ths
American ar 4 Maryland Coal Companies, it is
cxpl; ned thst the &C 2letion of the railroad in
The iime limits: 4 WAS Of tie essence of ihs con-
tract anu that the road not being finished in tho
tma srecidsd, the board was of opinion that it
could grant no extension withoul authority Of
Tho board CT public works and tho stockhcld BIB
OF The canal, and that they were bound as trus
tees 70 demsnd fall tolls. They proposed. how
ever, &c tho coal companies that they should pay
only the amount acknowledged to BIZ due, leay-
i5S the balance for future arbitration or decis-
ion. This proportion the railroad ED coal
conpsno, rejected, and have brouga; suit in
TIC Circuit Court of Allegaoy County to erforce
Ire contract The answer 10 their bill is sub.
1ni!!sd to the s.o,kho arg, and it i, suggested
that The natter be referred 10 sreci,l cum nit.
Zee. 80 that tho subject nay be presented ia d..
t.il BY the parties interested. 1hssm 5unt paid
by the American and Maryland Coal Compar
It's during 1881 was ct tie rate Of Do cents ! ton
ana cents wharfage. These various suggest.
Ions are made now t. give tho stockholders cp-
portunity for their consideration before the an.
nusl m'atirg.