SENATE DOC. No. 5.
COMMUNICATION
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MAJOR JNO. W. JOHNSTON,
PRESIDENT OF JAMES RIVER & KANAWHA CO.
inclosing a
MEMORIAL AND BILL IN REFERENCE TO THE PROPOSED SALE OF
THE WORKS, PROPERTY, AND FRANCHISES OF SAID
COMPANY TO THE RICHMOND AND ALLE¬
GHANY RAILROAD COMPANY.
OFFICE OF THE JAMES RIVER & KANAWHA CO.,
Richmond, Va., December 7, 1878.
Hon. W. D. Quesenberby,
President pro tern. Senate of Virginia :
Sib,—I beg leave to hand you herewith copies of memorial and bill in the
matter of proposed sale of the works, property, and franchises of the James River
and Kanawha Company to the Richmond and Alleghany Railroad Company, and
to request you to lay the same before the senate of Virginia.
Very respectfnliy, your obedient servant,
JNO. W. JOHNSTON, President.
Senate Doc. No. 5.
3
of the
JAMES RIVER AND KANAWHA COMPAÑA^ IN THE JIATTER OF THE
PROPOSED SALE OF ITS WORKS, PROPERTY, AND
, FRANCHISES TO THE RICHMOND AND AL¬
LEGHANY RAILROAD COMPAÑA^.
To the General Assembly of Virginia:
In confoniiity witli a resolution unanimously adopted by the stock¬
holders of the James River and Kanawha Company in general meeting assembled,
on the 6th of December, 1878, I beg leave to transmit herewith the draft of a hill
entitled " A hill to authorize the James River and Kanawha Company to make
sale and transfer of all its works, property, and franchises to the Richmond and
Allegliany Railroad Company, and to define tlie powers and duties of the Board of
Public Works in respect tliereto."
And I beg leave to communicate to the general assembly of Virginia the unani¬
mous desire and request ef the stockholders of the James River and Kanawha
Company, as expressed in the general meeting aforesaid, that tlie said hill he con¬
sidered and enacted at an early day.
Very respectfully,
JNO. AV. JOHNSTON, President.
Richmond, December 7, 1878.
Senate Doc. No. 5.
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to auïhokize the james rlveb and kanawha company to make
sale and tkansfer of all its works, property and franchises to
the Richmond and Alleghany Railroad Company, and to define
the powers and duties of the board of public works in respect
thereto.
Wliei-eas, in the act incorporating tlie Richmond and Allegliany railroad com¬
pany the legislature antliorized said company to purchase any of the property and
franchises of any work of internal improvement within the limits of its charter, and
the said company has made certain propositions to the James River and Kanawha
company looking to the purchase of its property and franchises, therefore :
1. Be it enacted by tlie general assembly of Virginia, That-the proxies of the
state of Virginia representing its stock in the James River and Kanawha company
are hereby antliorized to vote for the sale and conveyance of all tlie works, property
and franchises of said James River and Kanawha company to the Richmond and
Alleghany company on such terms and conditions as they shall approve, not incon¬
sistent with the provisions of this act, and with such provision for the creditors of
said company as to the said proxies shall appear reasonable and just.
2. It shall be a condition of such sale that the Richmond and Alleghany railroad
company shall deposit with the board of public woi'ks the sum ot five hundred
thousand dollars in value, in United States bonds, or that amount in value in other
public securities, to be approved by said board, as a pledge for the completion of
its railroad from Richmond up the valley of the James river to Clifton forge, with
a branch of like gauge to Lexington from the mouth of North river, or some other
point, to be agreed upon by the county of Rockbridge and the Richmond and Alle¬
ghany railroad company, within twenty mouths from the date of such sale and
conveyance. When the said board shall be satisfied that twenty-five miles of
said railroad is fully completed, it shall surrender to said company fifty thousand
dollars in value of said bonds ; and for each successive section of twenty-five miles
which may be completed an additional amount of fifty thousand dollars in value
shall be surrendered, and on the completion of the whole work the whole of the
bonds remaining with said board shall be surrendered. But on failure of the Rich¬
mond and Alleghany railroad company to complete said railroad within the time
presci'ibed as aforesaid, the said bonds so to be deposited by it as socurity shall be
forfeited, and the same, or so many thereof as may remain with the board of public
works at the time of such forfeiture, shall be delivered by said board to the com¬
monwealth of Virginia, to be by her received as compensation for her preferred
stock in the James River and Kanawha company. But if from any unforeseen
casualties it should be found impracticable to complete the line within the time
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Senate Doc. No. 5.
prescribed, the board of public works shall liave power to extend tlie time for a
period not exceeding six months.
3. After a final and absolute contract of sale shall have been concluded between
the James Elver and Kanawha company and the Eichmond and Alleghany railroad
company, and within ten days after the James Eiver and Kanawha company shall
have in writing notified the Eichmond and Alleghany railroad company of its readi¬
ness to convey all its property and franchises in ptirsuance of such contract, the
Eichmond and Alleghany railroad companv shall make the deposit hereinbefore
required on tender of such conveyance ; and if such deposit shall not then be made,
tlie contract of purchase shall be and become absolutely null and void.
4. It shall be provided in said conti-act tliat a sum of money to be agreed iqjon,
not less than thirtv' thousand nor more than fifty thousand dollars, shall be paid in
cash by the Eichmond and Alleghany railroad company to the James Eiver and
Kanawha company; and said sum shall be expended and paid out by the presi¬
dent and directors of the said James Eiver and Kanawha company in payment first
of salaries and wages due offlcers and employees, and then otlier current debts, and
in the payment of the such debts, charges, costs and expenses, as may have been
incurred in the administration of the company since the first day of May, eighteen
hundred and sixty-seyen.
5. It shall also be provided that tlie rate of dockage at Eiehmond shall not exceed
the rate at present established by the James Eiver and Kanawha company, and all
existing contracts for water privileges along the entire line shall be respected and
maintained at rates not exceeding the present rates, except in those cases in whicii
tiiey may be cancelled by agTeement or extinguished by condemnation.
6. ïlie building of tlie said railroad by the Eiehmond and Alleghany railroad com¬
pany within the time above prescribed, and the future maintenance thereof, sliall
be a sufficient compliance with all the conditions on which tlie franchises of tlie
James Eiver and Kanawha company were heretofore granted to do it by tlie state,
of Virginia.
7. The said railroad company may, in approaching and passing through Lynch¬
burg, arrange for the temporary use of any tracks alreadj' constructed for a period
not exceeding three years.
8. Before tlie execution of the contract liereiii contemplated between the Eicli-
moiid and Allegliany railroad company and the James Eiver and Kanawha com¬
pany tliere shall be a satisfactory agreement and contract made between the Eieh¬
mond and Alleghany railroad company and the Buchanan and Clifton Forge rail-
nay company.
9. Said board of public works is further invested with full authority to institute
all suits which may be necessary for the' enforcement of said contract, and to de¬
fend all suits which may be brought against said board in respect tliereto.
10. The circuit court of the city of Eiclimond shall have exclusive jurisdiction of
all suits in respect to said contract, whetlier brought by the board of public works
or by otliers ; and the board of jiiiiilic works sliall be a necessary party to all such
suits.
n. This act shall be in force from its passage.