1837.] 



FARMERS' REGISTER. 



607 



located, that, at some points it was liable to be sub- 

 nierged, and sustained some damaije li'om the 

 freshf^s in June and August. From the statement 

 of Mr. Richard Sampson, a director residing on 

 the canal, and charged with an inquiry into the 

 subject, the total amount ol" damage, inclusive of 

 §285 worth of timber swept off, was |73o. 



Iii the month of May, preparations were made 

 for a radical alteration of the Beaver Dam Aque- 

 duct. A portion of the company's force was em- 

 ployed until the latter part of the month of August 

 in providing materials. From the difficulty ex- 

 peeied in the execution ot' the work in the ensuing 

 months, it was postponed lor another season. 



The adjustment ofthe claims ofthe millers, &c. 

 has been postponed until a general system lor the 

 sale and supply ol" water can be adopted. 



Arrangements have been made lor the immedi- 

 ate increase of the lower level of the canal, with a 

 view to improve the navigation, and supply the 

 increased demand for water power. The dimen- 

 sions of this portion of the canal, will be equiva- 

 lent to a cross section of 80 feet at the top of the 

 wafer line, and 8 feet deep. The expense of the 

 work will be enhanced by the necessity of exca- 

 vating the additional breadth to the level of the 

 water, before the water is drawn off". From a cal- 

 culation of the chief engineer, the water that may 

 be disposed of from this line, at present prices, 

 would yield to the company an annual revenue of 

 8120,000. 



The dimensions of the residue of the lower line 

 will not exceed the usual dimensions of the new 

 canal. The survey of this portion of the work 

 has been delayed for want of a suitable engineer; 

 but the survey will be made, and the work re-con- 

 structed as speedily as circumstances will permit. 

 A considerable portion of this work must be exe- 

 cuted by the hands of the company. To ensure 

 a sufficient force, an agent has been sent to some 

 of the Gtrman States to procure laborers. 



VII. Fiscal concerns. — On the 1st December, 

 1835, there was on hand, in the Bank of Virginia, 

 a balance of revenue from the old improvements, 

 of 85,873 07 



And a balance on account of new im- 

 provements, of 90,144 78 



Total amount on hand, 



218,205 11 



Total, 895,017 85 

 Three requisitions had been made 



on the stockholders, amounting to $160,000 00 



Of which had been paid 98,560 00 



Leaving a balance due of 861,440 00 



In the year 1836, the receipts from 



capital stock, amounted to 344,368 88 



To wiiich, add balance on hand, on 

 same account, at the commence- 

 ment of the year, 90,144 78 



Total, 8434,513 66 



Disbursements ori account of new 

 improvements, during the year, 229,348 92 



Leaving on hand, on the 1st inst., a 

 balance of capital paid in, and ap- 

 plicable to new improvements, of .8205,164 74 



Balance on hand from old improve- 

 ments, after paying all charges 

 thereon, 13,040 37 



In the year ending 30th November, 



1836, five additional requisitions 



Avere made on the stockholders, 

 • making with the three preceding 



requisitions, 680,000 00 



Of this sum, there were paid in prior 



to the 1st December instant, 442,672 00 



Leaving due. 



237,328 00 



Two additional requisitions have been made on 

 the stockholder?, including the state, of .85 each, 

 per share, payable on the 25lh January, and 25th 

 May, 1837. 



The balance of 8205,164 74, is subject to the 

 immediate pavment of the assessments, amount- 

 ing to 8158,6.56 50. Of the balance of .9237,328 

 due from stockholders, .8114,308 are due fi-om indi- 

 viduals, and 8 123,020 from corporations — of which, 

 836,500 maj' be considered as payable promptly. 

 The sum of .886,520 due from the city of Rich- 

 mond, will not be paid until the determination of 

 the suit now depending in the court of appeals,- 

 touching the validity of the subscription. This 

 suit will probably be decided in January or Feb- 

 ruary. The sum of 8114,308 due from indivi- 

 duals, will no doubt be much reduced by remittan- 

 ces, for which the present season is favorable ; but 

 it may not be j)aid with sufficient certainty to pre- 

 vent a failure of means to meet the engagements 

 to contractors. The monthly payments to con- 

 tractors through the winter, will be from 850,000 

 to 860,000. Authority to borrow such small sums 

 as may be required to meet the contracts of the 

 company, until the state's subscription shall be 

 payable, was deemed necessary. 



VIII. Extension of the company'' s sphere of ac- 

 tion and provisions amendatory of the act of in- 

 corporation. — 1st. The attention of the stockhold- 

 ers was called to the provisions in the charter of 

 the Lynchburg and Tennessee Rail Road Compa- 

 ny, giving this company a right, if they shall so 

 elect, to construct a rail road from Richmond to 

 Lynchbiirg. 



2nd. The most expedient line of communica- 

 tion between the canal and tide-water, being found 

 to pass through the Armory lot, belonging to the 

 state, the location at that place, stands suspended 

 until the pleasure of the legislature on the subject 

 can be known. 



3rd. The chief engineer having been requested 

 to report upon the most advantageous mode of 

 connection between the canal and tide-water, had 

 proposed a ship canal between Manchester and 

 Warwick, to be connected with the James River 

 Line by means of a basin formed by a dam at the 

 foot of the ftills — a plan approved by Judge 

 Wright, and ordered by the board of directors to 

 be presented to the stockholders for their conside- 

 ration. To carry it into execution, the grant (by 

 legislative enactment,) to the company of addi- 

 tional powers, and the privilege of raising addi- 

 tional stock, would be necessary. 



4th. The state of Maryland having within the 

 last two years, authorized a subscription of eight 

 millions of dollars, for the purpose of hastening 

 her connection with the Ohio River, at the town of 

 Wheeling, and the state of South Carolina, hav- 

 ing in conjunction with other states on our south- 



