•MM / 45th Congress, ) HOUSE OF REPRESENTATIVES, f Ex. Doc. 2 d Session. ) J jq DISMAL SWAMP CANAL. LETTER FROM ' /O&J •^7TK3 THE SECRETARY OF THE TREASURY, IX REFERENCE TO The interest of the government in the Dismal Swamp Canal. January 21, 1878.—Referred to tlie Committee on Railways and Canals and ordered to be printed. Treasury Department, " Washington , D. (7., January 15, 1878. Sir : In June last my attention was called to an advertisement in the daily newspapers of the proposed sale, on the 9th of August then ensuing, of the property and works of the Dismal Swamp Canal Company, situated in Virginia and North Carolina, under and by virtue of two several deeds of trust executed by that company on the 1st of July, 1867, and the 10th of February, 1809, respectively, to secure certain bondholders mentioned therein. As the United States is the owner of a large interest in this canal, viz, eight hundred shares, representing $200,000 at their par value, for which Congress in 1826-1829 appropriated that sum from the Treas¬ ury, I deemed it incumbent upon me to protect, as far as it lay in my power, this large interest from sacrifice. Accordingly I instructed the Solicitor of the Treasury to make personal examination into the affairs of this company, or to direct some one to do so, for the purpose of a cor¬ rect understanding as to the creation of the debt for which the canal and works of the company were advertised for sale; to inquire partic¬ ularly as to whether the proceedings for such sale were regular; and to negotiate with the bondholders and trustees for a postponement until after the meeting of Congress, or until that body cpukl have the oppor¬ tunity of legislation to protect the interests qt th^ Uaited States as a stockholder. The Solicitor of yUe Treasury directed the chief clerk of his office to make this ex&m-nation and negotiation., a yopy of whose report upon the subject and accompanying*, JocuMk'at^ transmitted herewith for the information ay Congress.* > , ’« It appears that at a stockholders 7 hieetiiig held November 5, 1866, at which meeting the United States was represented by proxy, under ap¬ pointment of the Secretary of the Treasury, the president and directors were authorized to borrow such an amount of money as in their judg¬ ment was necessary for the improvement of the canal and the payment ‘2 DISMAL SWAMP CANAL. •)> of the debt of the company, not exceeding $200,000; to issue bonds t that amount, bearing interest not exceeding 8 per cent, per annum, and. to pledge the entire works of the company for the payment of the said bonds. In pursuance of this authority, and of the sanction subsequently obtained from the legislatures of Virginia and North Carolina, the presi¬ dent and directors aforesaid issued two hundred bonds in the name ot the company of $1,000 each, payable twenty years from the 1st ot July, 1867, and executed a deed of trust of that date, conveying to certain persons in trust the entire canal property of the company to secure the payment of the bonds so issued. By the terms of this deed the trustees are required, on default in the payment of the principal and interest, or any part thereof, of the said bonds, and upon the request of any one or more of the holders thereof, to dispose of the trust property at public auction or private sale, for cash, or on reasonable credit, after duly adver¬ tising the same, as provided, and from the proceeds to pay the accrued interest, and to pay or to secure the payment of the principal. a supplemental deed, executed February 10, 1869, by authority of a meeting of the directors of the company, it is made imperative upon the trustees from the proceeds of sale to pay immediately to the bond¬ holders the principal and accrued interest of the bonds, u whether the said principal be then due or yet to become due.” On the 1st of* July last, the company was in default on these bonds for interest to the amount of $52,000. On the 4tli of April, just pre¬ viously, a majority of the bondholders made demand in writing upon the trustees for a sale of the property in accordance with the deeds of trust, and the same was accordingly duly advertised for sale, to take place on the 9th of August last, as I have before stated. At a called meeting of the bondholders and trustees to confer with the gentleman intrusted with the examination into these transactions, held at Norfolk a short time previous to the day named for the sale, the following resolution, as I am officially informed, was adopted, viz: Resolved , That the bondholders present respectfully request that the honorable the Secretary of the Treasury make an immediate examination of the affairs of the Dismal .Swamp Canal Company, and if, after such an examination, he will agree to recom¬ mend to Congress to appropriate a sufficient amount to put the canal in thorough or¬ der, or some other measure that will save the interest of the United States, amounting to nearly one million dollars, that the trustees be authorized to postpone the sale until such time as they may deem expedient. My response to this resolution was communicated to the Solicitor of the Treasury in a letter requesting him, in view of the large pecuniary interest held by the United States in this property, and of the probable injury which would result to, that interest in the event of a sale under present circumstances, to take such prompt action as he might deem expedient to insure a postponement of said sale until Congress could have an opportunity to consider and pass upon such measure for the protection of the interests of the government in the premises as might appear judicious and .efficient; and informing him that, upon the meet¬ ing of Con grey's* «I< w\Vul4^J>'mit the piatter for its action. At a subsequent' nfeetihg: pf the bobdhbhlers, the trustees were in¬ structed, in view t a£ this response, topoi&tpoiie the sale of the canal un¬ til after the regular/sjessiovf of Cppgress. I propose simply 4 to Tay‘fli6‘ matter Mw'before Congress, as I agreed to do in consideration of that postponement, referring only to such de¬ tails as, in my opinion, are required for an intelligent understanding of the subject, and leaving it for that body to take such action as in its wisdom may seem to be required in the premises. The Dismal Swamp Canal is about twenty-eight miles in length. It FEB 23 1906 n. .rn DISMAL SWAMP CANAL. 3 commences at a point in the Elizabeth River about three miles from Norfolk and the Portsmouth navy-yard, and extends to deep water in Pasquotank River, North Carolina, by means of which river it connects with Albemarle Sound. It thus affords a connecting-link in a line of interior navigation reaching from the southern coast-line of North Caro¬ lina to the waters of the New England States. Of late years, the extent and character of the carrying trade have demanded a larger class of ves¬ sels than those used in the trade at an earlier period, and hence the canal, by reason of inadequate width and depth, has been restricted in its business, as it appears, to almost a purely local traffic. Two of the locks are but 17£ feet and the remaining two but 24 feet in width, and about 100 feet in length. I am advised that, in order to accommodate the through carrying-trade, it is indispensable that these be entirely reconstructed by rebuilding, widening, and lengthening. Be¬ sides this, the canal-bed must be dredged to a depth of five or six feet its entire length. The cost of such an improvement, as has been esti¬ mated, will be from two to three hundred thousand dollars. The capital stock of the company consists of 1,944 shares, of the nom¬ inal value of $250 each, or in all $486,000. Of this stock the United States owns 800 shares, or, in amount, $200,000, nearly two-fifths of the entire amount. This stock was subscribed for by authority of the acts of Congress of May 18,1826, and March 3,1829. The former act, author¬ izing a subscription for 600 shares, made it a condition to such subscrip¬ tion that the report and opinion, iu writing, of the United States Board of Engineers be first obtained that “the plan on which the said canal is to be executed will answer, as far as circumstances will permit, as a part of a chain of canals contemplated along the Atlantic coast, and that the sum hereby authorized to be subscribed for will be sufficient to finish the canal according to said plan.” The last-named act, how¬ ever, authorized a further subscription for 200 shares, with no conditions attached. The present bonded debt of the company is as follows, viz: Principal.$200,000 Interest not paid, but funded in certificates at 8 per cent. 24, 000 Interest due January, 1876. 4, 000 Coupons due July 1, 1876 . 8,000 Coupons due January 1,1877.. 8, 000 Coupons due July 1, 1877 .. 8, 000 Coupons due January 1,1878. 8,000 In all. 260,000 In addition to this, there are judgment-liens of record against the company, subordinate to the lieu of the trust deed and the bonded in¬ debtedness before mentioned. These j udgments amount to about $73,000, including interest up to last July. The revenue of the company from tolls, since and including the year 1871, has been as follows, as shown by the official reports. Year ending September 30, 1871 . $12,739 60 Year ending September 30, 1872. 19,998 90 Year ending September 30, 1873.--.-....22,153 46 Year ending September 30, 1874. 19,962 54 Year ending September 30, 1875. 11,210 31 Year ending September 30, 1876. 10,219 73 The annual repairs to the canal during this period have averaged about $7,000. For a long period previous to the war of 1861, the yearly revenue from tolls averaged about $38,000, while the current annual expenses were less than $6,000, and the expenses of repairs about the latter sum. 4 DISMAL SWAMP CANAL. There has been expended in the making and improvement of the canal the sum of $1,600,000. The United States has already derived from its investment in the stock of this canal the sum of $136,000 in dividends; $9S,447.58 of which have been paid into the Treasury, as officially reported to me. The re¬ mainder, $37,000, was, by authority of an act of Congress of February 26, 1845, devoted toward the expenses of improving the works. In recent years no dividends have been declared, the revenue being barely suffi¬ cient for repairs and expenses. It is for Congress to determine whether it is expedient to take any action for the protection of the interest of the United States in this prop¬ erty. If it shall be deemed inexpedient to adopt any measure calculated to sustain this canal, and through such measure to retain the interest of the government therein, or if no action shall be taken, the bondholders will doubtless proceed with their sale, under the trust-deed, as they have before contemplated, and such sale, if founded upon legal right, must neces¬ sarily dispossess the United States of its entire interest in the capital stock of the company and divest it of all control over the canal as a work of national importance, if it has such a character. Respectfully submitted. JOHN SHERMAN, Secretary of the Treasury . Hon. Samuel J. Randall, Speaker of the House of Representatives. Department of Justice, Office of the Solicitor of the Treasury, Washington , T>. G\, July 7, 1877. Sir : In pursuance of directions given me by your predecessor, under authority of a letter of the 6th ultimo, addressed to him by the Secretary of the Treasury, I visited Norfolk, Ya., on the 20th of that month, for the purpose of looking into the affairs of the Dismal Swamp Canal Com¬ pany, particularly to examine as to the creation of the debt for which the canal and works of the company are advertised for sale in the month of August next$ as to whether the proceedings for such sale are regular, and if so to negotiate with the bondholders for such a postponement of the sale until after the meeting of Congress, or until that body can have the oppportunity of legislation, to protect the large interests of the United States as a stockholder in the company. Upon arriving at Norfolk, I found that the president of the company was unfortunately absent from the city on a visit to Boston, and that he had with him the key of the safe containing all the books and papers of the company, the examination of which seemed necessary to a complete transaction of the business upon which I was sent. I was accordingly unable, by personal inspection of the minutes of the stock¬ holders’ meetin g, to obtain the desired information as to the proceedings at¬ tending the creation of the bonded debt of the company, and the author¬ ity given, if any, to the officers thereof to enter into the trust-deeds under the provisions of which the property has been advertised for sale. The treasurer of the company, however, promised to send me, on re¬ turn of the president, full abstracts from the books of all the proceed¬ ings had at the meetings, showing particularly whether the United DISMAL SWAMP CANAL. 5 States was represented, and whether, if so, the representative consented to the loan and the execution of the trust-deeds. Siuce my return I have received the promised extracts from the minutes of the stockholders’ meeting of November 5, I860, and of the directors’ meeting of the 16th of February, 1869. At the former meeting it appears that it was resolved that the presi¬ dent and directors have authority to borrow such amount of money as may be necessary for the improvement of the works and payment of the debt, not exceeding $200,000 ; to issue bonds of the company, bear¬ ing interest not exceeding 8 per cent.; to pledge the entire works of the company for the payment of said bonds, and to memorialize the legisla¬ ture for the necessary authority. At the meeting of the directors at the latter period authority was given the president of the company to execute a supplemental deed explanatory of the deed of trust executed on the 1st of July, 1867. It appears, from the extracts of the stockholders’ meeting, that the United States was represented by E. W. Whipple as proxy, entitled to cast on 800 shares of stock 168 votes, the total number of shares repre¬ sented at the meeting being 1,723, entitled to cast 459 votes. I find, by reference to the Treasury records, that on the 4th of Novem¬ ber, 1865, the Secretary of the Treasury constituted and commissioned Elijah W. Whipple as his proxy for the United States at all meetings of the company. I presume this appointment was a continuous one and terminated with the succeeding appointment, in 1867, of Gilbert A. Walker to act at the meeting of that year. The capital stock of this company is divided into 1,944 shares, of the nominal value of $250 each, or $486,000. Of this stock the United States owns 800 shares, representing $200,000,a sum which Congress appropri¬ ated in the years 1828 and 1829 for their purchase, or nearly two-fifths of the capital of the company. There has been expended in the making and improvement of the canal the sum of $1,600,000, which amount more truly represents the capital invested. The interest, therefore, of the United States in this work, which should be protected and preserved in some way, is represented rather by the sum of $700,000 than the mere face value of the shares of stock. From this stock in times past the United States has derived the sum of $136,000 in dividends, although in recent years, from causes readily explained and appreciated, no dividends have been declared. The war of the rebellion left the canal and all its machinery unfit for use and in a deplorable condition. In order to refit the same, and to restore this valuable work to some¬ thing approaching its former condition, an indebtedness was contracted in the year 1867 by the issue of 200 bonds of $1,000 each, secured by the deed of trust mentioned in the advertisement of sale as of July 1, 1867. The charter, as it seems, gave no power to contract such a debt or to create a lien upon the works and property of the company. Ac¬ cordingly authority was obtained through a special act of the general assembly of the State of Virginia, December 6, 1866, which provides that it may be lawful for the Dismal Swamp Canal Company to issue coupon-bonds, bearing iuterest at the rate of 8 per cent, per annum; the whole amount not to exceed $200,000; also to sell and dispose of such bonds in such mode and on such terms as may be deemed advis¬ able, and to give such security for the punctual payment of the said bonds as such company may deem expedient. A similar act was passed about the same time by the legislature of North Carolina. The deed of trust so executed by the president and treasurer of the 6 DISMAL SWAMP CANAL. company as security for these bonds, by authority of the meeting of stockholders before referred to, conveyed to James Corneck, C. W. New¬ ton, and William H. C. Ellis, the Dismal Swamp Canal, with all and singular the lauds and tenements, &c., in trust to secure the purchasers or holders of the said bonds the payment of the principal and interest, and gives authority to said trustees, upon the demand of any one or more of the said bondholders, to sell at public auction or at private sale for cash, or on reasonable credit, in their discretion, the property so con¬ veyed, after advertising such sale for three months in one or more news¬ papers in New York, Baltimore, Washington, Philadelphia, and Norfolk, and from the proceeds to pay all accrued interest on the bonds and to so provide that the principal thereof shall be immediately paid, or so secured that no future default in the payment of interest may be made, and to pay the balance, if any, to the company or its assigns. This deed seems to have been properly executed and recorded. A supplemental deed of trust was executed the 10th of February, 1869, by authority of the directors’ meeting referred to, making it imperative upon the trustees, from the proceeds of sale, to pay immediately to the bondholders the principal and interest of the bonds, u whether the said principal be then due or yet to become due;” or, in case of a deficiency, to so pay a proportional part of the same. Copies of these deeds, taken from the records of Norfolk County, are transmitted herewith as a part of this report. A majority of the bondholders, as 1 understood from the trustees, have given them notice in writing of their desire for a sale of the trust-property. 1 append a copy of the notice as furnished me by the president of the company since my return. The only specific authority for the execution of this supplemental deed was derived from the meeting of directors before mentioned. I had conferences with a number of the bondholders representing, perhaps, more than one half the trust-debt, or with persons representing such bondholders, and all expressed a willingness to consent to a postpone¬ ment of the sale as advertised, in the hope that Congress would adopt some measure to protect the interests of the United States as a stock¬ holder and preserve to the community the commercial advantages of the canal as a great interior line of water-communication with the sounds of North Carolina and the southern coast. Of the entire amount of the bonds, about $115,000 in value are held in Norfolk, $75,000 in Baltimore, and $10,000 in New York. The invest¬ ment is held in high estimation, and it is not the desire, generally, of the bondholders to have a sale of the trust-property, provided there shall be encouraging indications that necessary improvements in the canal will be made, which will assure ample revenue for the payment of in¬ terest, expenses, and dividends, as in the past, from the largely in¬ creased and increasing trade that must of necessity seek this line of communication. A meeting of the Norfolk bondholders was called and held in the office of the company, at which I was present, aud explained fully the object of my visit. There was a free and full interchange of views, evincing a most thorough appreciation of the fact that the United States had, through its proper officers, given this indication that something will be done, or attempted, to protect its large interests as a stockholder, and thereby directly enhance the interests of the stock generally and of the community. There was some hesitation as to giving authority to the trustees for a postponement of the sale without having first a defiuite assurance from the Secretary of the Treasury that he will make some recommendation DISMAL SWAMP CANAL. 7 to Congress touching the matter. The form such recommendation should take they are willing to leave entirely with that officer. It was urged that although the bonds and accrued interest are now abundantly secured, in view of the present great value of the canal property, yet that security was becoming impaired by delay in making necessary and Vital improvements to the canal; by the loss of trade consequent upon the want of improvement adapting the canal to the navigation of vessels of a large tonnage; by the gradual decay and deterioration of the property; the shoaling of the water, and other causes not within the power of the company, embarrassed by debt and other difficulties, to prevent or overcome. The sense of the meeting was, however, reduced to the form of a resolution in the following words: Resolved, That the bondholders present respectfully request that the honorable Sec¬ retary of the Treasury make an immediate examination of the affairs of the Dismal Swamp Canal.Company, and if, after such an examination, he will agree to*recommend to Congress to appropriate a sufficient amount to put the caual in thorough order, or some other measure that will save the interest of the United States, amounting to nearly one million of dollars, that the trustees be authorized to postpone the sale until such time as they may deem expedient. Under this resolution, upon a favorable response from the Secretary of the Treasury, the trustees will postpone the sale of the canal adver¬ tised for the 9th of August. The only other alternative for the protection of the stock of the United States from entire loss is a proceeding to enjoin the trustees from selling the property. It may be added that this bonded debt now stands as follows: Principal. $200, 000 Interest not paid, but funded in certificates at 8 per cent. 24, 000 Interest due January. 1876 (one-half paid). 4,000 Coupons due July 1, 1876 ... 8, 000 Coupons due January, 1877 ... 8, 000 Coupons due July, 1877. 8,000 In all. 252,000 In addition to this, there are judgments of record against the company of about $73,000, including interest. The revenue of the company from tolls since and including the year 1871 has been as follows: Year ending September 30,1871 ..$12,739 60 Year ending September 30,1872 ...... 19,998 90 Year ending September 30,1873 .22,153 46 Year ending September 30,1874 . 19,962 54 Year ending September 30,1875 . 11,210 31 Year ending September 30,1876 . 10,219 73 It appears from the reports of the president of the company to the stockholders that a revenue of $25,000 will pay the annual general ex¬ penses, and ordinary annual repairs, amounting to about $7,000, and the interest on the bonded debt, amounting to about $17,500. For a long period previous to the war of 1861, the yearly revenue from tolls averaged $38,000, while the current annual expenses were less than $6,000, and the expense of repairs about the latter sum. Since that time a rival work, called the Albemarle and Chesapeake Canal, has been completed, which, by reason of the depth of water and enlarged dimensions, was enabled to command a through trade in vessels of 300 tons burden, while the Dismal Swamp Canal has been restricted in its business to almost a purely local traffic. It is contended, and with every probability in its favor, I think, that the improvement of the latter canal by widening the locks and deepen- 8 DISMAL SWAMP CANAL. ing the water and otherwise, as has been from time to time suggested, would reverse the relative situations as to business of these two portages of commerce, for the latter is the favorite route of vessels which can pass the locks, because of its shorter distance, less tortuous course, and of the fact that they are not subject to delays therein, as is the case frequently in the navigation of the Albemarle and Chesapeake Canal, by reason of the tides and drifting sands at its outlet. From a report made in April, 1866, to the Secretary of the Treasury, by Messrs. John Kimball and John Jay Knox, it appears that for a period from 1845 to 1862, eighteen years, the receipts of the Dismal Swamp Canal Company from tolls amounted to $625,54:2,94, the current ordinary expenses to $92,173.32, and the general expenses for repairs to $138,340.95. For a better understanding of the important interest which the United States has in this line of commerce, I beg leave to refer to its past his¬ tory and to the details of its trade and capabilities recounted in the printed copies of the memorials herewith, marked A and B. I also annex as part of this report copies of annual reports of the president and directors of the company to the stockholders for the years ending September 30 of 1871,1872,1873,1874,1875, and 1876, marked C. I also annex copies of the two trust-deeds under which the property of the canal company is advertised for sale, marked D and E ; also a list of the bondholders secured by such deeds of trust, marked F; also a compilation of laws of the States of Virginia and North Carolina, constituting the charter of the company, marked G. It is apparent that the canal in its present condition must earn a very limited revenue, and must necessarily suffer continuous diminution of its capabilities, by reason of decay of its machinery, the constant wash¬ ing of its banks, and consequent shoaling of its waters. The canal is about twenty-eight miles in length, commencing at a point in the Elizabeth River, a few miles from Norfolk, extending to Deep Creek, about two and a half miles, thence to a point on Joyce Creek, twenty-three miles, and continuing from a point on that creek to Pasquotank River, a distance of about three miles. Two of the locks are but 17J feet wide, and about 95 feet in length, and two are 24 feet in width and about 100 feet in length. All of these need rebuilding, widening, and lengthening. Besides this, the canal-bed requires dredg¬ ing to 5 or 6 feet in depth of water its entire length. An estimate has been made, as will be seen by the memorial herewith, marked A, of the expense of such an improvement, which places it at about $400,000. This estimate was made, however, about seven years ago, and may now, it is urged, be received with a considerable reduc¬ tion, in consequence of the lower price of labor and material, and the use of improved machinery. As a great link of interstate communication with the southern sea¬ board, affording a connection in a line of interior navigation, reaching from the southern coast line of North Carolina to the waters of the New England States, the work becomes one of national importance, and seems worthy of recognition in some manner by Congress, because of its relation to the commercial interests of the country as well as for the preservation of the stock in which so large a sum of public money has been invested. Very respectfully, WEBSTER ELMES. Hon. Kenneth Raynor, Solicitor of the Treasury. DISMAL SWAMP CANAL. 9 A. Memorial of the Dismal Swamp Canal Company to the Senate and House of Representatives of the United States of America, December 20, 1871. To the honorable the Senate and House of Representatives of the United States of America: In obedience to a resolution of tbe stockholders of the Dismal Swamp Canal Company, the undersigned most respectfully present for the con¬ sideration of your honorable bodies a statement in regard to this com¬ pany, in which the government, besides possessing a large pecuniary interest, has other relations of a national character. A brief review of the history of the company is necessary to a proper appreciation of its claims to the favorable consideration of Congress. It was chartered in 1787, by the States of Virginia and North Carolina, in order to connect the Chesapeake Bay with the sounds and rivers of North Carolina. In the progress of the work, which was very slow, the original views of the corporators were enlarged and the cost conse¬ quently increased. No connection between the waters of Virginia and North Carolina had been made when the war of 1812-’15 with Great Britain broke out. The want of such a connection was sensibly felt by our infant Navy in the deprivation of the naval stores indispensable to its expansion and maintenance. The only connection before existing was through the dangerous navigation of the sounds, Ocracoke or other inlets and the ocean, to the navy-yard established here. But Great Britain, with her superior navy policing our coasts with her chiisers and occupying Hampton Boads with a permanent squadron, cut off this our only mode of supply, and it hence occurred that the want of a short inland line, which would have opened a safe, rapid, and economical con¬ nection with the naval timber, tar, and turpentine of a State most abound¬ ing in their production, greatly prevented the building and equipment of vessels of war at this point and sensibly crippled our naval operations. The commercial supplies also of our people in Lower Virginia and Caro¬ lina, derived at that early day principally from foreign countries, were cut off at the same time and from the same cause, producing much dis¬ tress to them, besides injury to the government in various ways affecting its national wants and the vigor of its operations. In fact, the whole coast of Virginia, by the occupancy of Chesapeake Bay and Hampton Roads, was sealed against all external connections, a condition of affairs which could not have taken place if this canal had then existed; for as dangerous a coast as that of North Carolina could not have been occupied or guarded like Hampton Roads, and the enterprise of blockade-runners, as in the late war, would have penetrated its inlets and kept up commercial supplies, which, with the facility of diffusion through the agency of this canal, would have found their way to the contiguous States as well as to the government. It is true that Hampton Roads has since been so protected against the intrusion and occupancy of hostile fleets as to remove some of the difficulties developed by the war of 1812-’15, but the coast of Caroliua, since the introduction of steam, may still be menaced by an enemy’s cruisers, especially at those points where the inlets occur, to the great interruption of the trade through them; besides, the maintenance of this canal is as necessary now as before in the short and economical transit it offers for the naval stores and other productions of that State. It was for considerations of this kind that, when the work was about to be suspended for want of means, Congress, in 182G-29, made appropri- 10 DISMAL SWAMP CANAL. ations to the stock of $200,000. The work was completed, and an interior line of water-connection, composed of canal, sound, and river navigation, was opened from the southern limits of North Carolina to Massachusetts. In 1845 a further improvement, authorized by an act of the Virginia legislature in 1838, contemplating an extension of the canal from Deep Creek to the southern branch of Elizabeth River, in order to obviate dif¬ ficulties in navigating that creek, was undertaken. The company had commenced making dividends the previous year, with every prospect of regular continuance, but the cost of this improve¬ ment had to be met before accruing dividends could satisfy it, and as the Secretary of the Treasury had no power to advance the ratable pro¬ portion on the United States stock, the company did so under an agree¬ ment to be refunded out of the dividends of the United States to become due; hence the retention of the$37,000 mentioned in the report of Messrs. Kimball and Knox to the Secretary in 1867. (See their report, p. 5.) In 1856, the upper portion of Pasquotank River, into which the south¬ ern end of the canal emptied, proved to be so narrow and sinuous as to seriously retard navigation. It was found that a short extension of the canal of about 3J miles would not only discharge it into a deeper and wider part of the river, but would also lessen the route by about eight miles. The company therefore eutered upon this further improvement, intending to meet the cost, estimated at about $150,000, with the accru¬ ing profits, which it was reasonably expected would be much increased when these additional facilities began to exercise their influence on the trade. While yet engaged in this work the late war broke out, which suspended all business, leaving the company with an unfinished work and a debt of nearly $100,000. In 1867 the Virginia legislature authorized the issue of $200,000 bonds by the company, secured by mortgage on the canal. (See report of Kimball and Knox, page 5.) It was supposed that much the larger part of the debt—that due the Farmers 7 Bank (suspended)—could be paid in its own depreciated notes, which would have reduced the debt nearly one-half, and left in the company’s hauds, of the sales of these bonds, a considerable amount, which it was intended applying to another improvement, rendered necessary by great changes in the mode of carry¬ ing on the trade. The improvement here alluded to consists in reducing the summit level and widening the canal from thirty to sixty feet through¬ out, dispensing with all the locks on the main canal except the north and south locks, which are to be enlarged, obtaining thereby a larger supply of water from the lake, and affording a navigation of about eight feet depth in place of the former five and one-half feet, thus, while retain¬ ing the former business, opening facilities to vessels of larger tonnage and draught, and accommodating the work to the present demands of trade; advantages of such manifest importance as to justify the efforts of the company to obtain them. In the payment of the larger part of the debt above mentioned, and in prosecuting this improvement, the proceeds of the bonds have been exhausted, leaving the canal in a very unfinished state. We pause here to remark that this review of our operations discloses the fact that from the beginning and throughout its history the zeal and perseverance of its original stockholders, who embarked their cap¬ ital long antecedent to the obtainment of the government aid and, be¬ sides, invested their profits for a long period in carrying out improve¬ ments suggested from time to time after the canal was finished as originally intended and they might have realized its surplus revenue, is worthy comment and consideration; and when we also add that oc- DISMAL SWAMP CANAL. 11 easionally, when all other resources were exhausted, some of its mem¬ bers pledged their credit and estates in its behalf, we repeat that this zeal and perseverance, accompanied with so much self-denial, furnish the best evidence of the singleness of purpose and fidelity to liberal views with which our predecessors entered upon aud their successors have dis¬ charged their trust. This brief review is deemed necessary to a full understanding of the subject. But there are other considerations besides those of a national character which appeal strongly to the favorable action of Congress. They are: 1st. That the capital stock of the company, instead of being $486,000, which includes only the direct subscription to its stock, is nearly about $1,500,000, this being its actual cost to the present time, in consequence of the conversion, for so many years, of the profits to construction. Four hundred and eighty-six thousand dollars was entirely inadequate for a work of this magnitude, and hence the application of its resources, from time to time, to its completion aud subsequent improvements. (See report of Kimball and Kuox of $1,323,031.48, page 4; a large ad¬ dition was made afterward from sales of bonds, tolls, &c.) The inter¬ est, therefore, of the United States, instead of being $200,000 in a nom¬ inal capital of $486,000, amounts really to nearly one-half of $1,500,000 j an interest of sufficient magnitude to claim the attention of Congress. 2d. But besides sharing in the dividends, like the other stockholders, to the extent of $136,000, which of itself constitutes more than two-thirds of its entire subscription, the government, as the owner of the nav 3 r -yards along the Atlantic coast, has derived a further and important benefit from this work, in which the other stockholders have not participated. A reference to the accompanying map (see map) will show the difference in distance between a shipment through the canal and the outside route to Norfolk and through Norfolk to the Northern yards. The freight (especially as to naval timber, which may be rafted by canal, but must be freighted by the outside route), the extra insurance, delay, and hazard of the one operate necessarily as a premium to the other line, and the government has and will continue to feel the beneficial influence in the diminished prices of the products of a State which it consumes so largely. We have no present means of estimating, otherwise than approximately, the value of these advantages. Some years ago the records of the Navy Department, relating to contracts for naval timber and stores, before and after the opening of the canal (to which we respectfully refer you),, enabled us, with tolerable accuracy, to arrive at the conclusion that in this regard alone the government had more than indemnified itself for its subscription to the stock of the company. 3d. During the late war, from 1862 to its close, the United States au¬ thorities had possession of the canal, and its water-line aud road were used for the transportation of troops, munitions of war, stores, &c. It was resorted to also for supplying the Navy and Army with water, and in various other ways essentially contributed to the convenience and dispatch of military operations at this point. It was used also under Federal authority for the conveyance of cotton, tobacco, and other prod¬ ucts, and all without any compensation ; and, finally, when the work at the end of the war ceased to be of any further military or commercial necessity to the government, it was surrendered to the company in a condition of great dilapidation, the effect jointly of neglect and hard usage. In this connection, we would refer to the deposition of Henry Williams, on file in the United States Treasury Department, and the accompanying certified extract from a report of Leroy G. Edwards to 12 DISMAL SWAMP CANAL. the canal company in 1865 (see appendix), who had charge of the work under a commission from the Secretary of the Treasury from 1863 to the end of the war. From their statements, it would appear that the gov¬ ernment, besides making a very profitable use of the work for three years, had contributed greatly to many of the injuries we are now called on to repair. We therefore indulge the hope that, apart from considera¬ tions of sound policy and national necessity, the large pecuniary inter¬ est of the government, the many advantages of a safe and economical transit extending through so many States and connecting with so many sites for naval operations, combined with the fitness of recognizing in some appropriate manner its services in a time of national exigency, and redressing injuries sustained while in the exclusive use of the govern¬ ment, will commend to Congress our application for aid. As to the, mode and measure of relief, we prefer to make no suggestion beyond a statement of the work necessary to place it in a complete condition, to wit: Dredging and deepening main canal of 29 miles. $70,000 Dredging and deepening feeder, including new lock for same. 15,000 Rebuilding two locks, one at Deep Creek, the other at south end, each 30 by 165 feet. 110,000 Rebuilding Gilmerton lock, 30 by 165 feet, using much of the old stone. 38,000 Completing excavation of summit-level and widening canal throughout from 30 to 60 feet. 115,000 Steam-dredges for above work. 30, 000 Rebuiding bridges of more substantial kind. 7,000 Incidental structures, such as repairs of Deep-Creek dam, waste-weirs, lock- houses, &c. 17,000 _ % Total. 402,000 This estimate, made about seven years ago, may be revised for a con¬ siderable reduction, in consequence of the cheapening of much of the work and materials and the introduction of improved machinery for doing the work. If revised by a United States engineer, would be more satisfactory. These improvements accomplished, this canal will become one of the best of its kind iu the United States, and the hopes of the stockholders be realized in a work not only of acknowledged necessity but of promise of abundant revenue; for the large area of country tributary to its in¬ fluence in the two States, its progressive reduction to agricultural and manufacturing purposes, the application of steam as motive power, to¬ gether with the increased facilities of transportation, will necessarily draw to this work, which has heretofore been a favorite one with traders, an increased traffic; and when these elements of increased business are properly estimated, your petitioners do not hesitate to assert, as their honest conviction, that this work, which has been, as far as they are informed, the only one which has repaid to the government, in great part, the aid originally granted it, will, in the future as well as in the past, be able, in addition to the national advantages before named, to repay, if it shall be required, the aid now sought. And your petitioners, humbly praying, &c. WM. B. ROGERS, President. JOHN B. WHITHEAD, WM. H. C. ELLIS, D. D. SIMMONS, E. C. ROBINSON, Directors. DISMAL SWAMP CANAL. 13 Appendix. [Extract from a paper filed in the office of the Dismal Swamp Canal Company, signed by Leroy G. Edwards, custodian of the Dismal Swamp Canal Company.] To the stockholders of the Dismal Swamp Canal Company: I beg leave to lay before you a succinct history of the Dismal Swamp Canal during the late war: “ In the latter part of the summer of 1862, the United States forces took possession of the work. They gave us much trouble. Mr. Henry Williams has given his deposition and it has been filed in the Treasury Department, at Washington. I was restricted in everything until I received a commission from said department as proxy of the govern¬ ment, in consideration of the eight hundred shares held by it in said company. This was in November, 1863, and enabled me to save the work from entire destruction. Before that I had been treated with dis¬ respect. The books of the office were taken from me, with the building which contained them, my desks were broken open, and a destruction of my papers was perpetrated, and the office not restored to me until the last military command was withdrawn. u I think the United States Government have been benefited to the full extent of the amount necessary to rebuild the work. The watering of the Army and Navy would be but a small charge at $3,000 per month, and every regiment of horsemen, at the usual rate of road-toll (25 cents each), to say nothing of carriages, would amply pay for keeping the banks. Surely they will do us justice ultimately. Then the supplies for the armies, provender, stores, &c., I cannot doubt that we shall be paid. “ Goods were carried through under military permits. I asked pay¬ ment of tolls, which were refused. I tested my power to stop vessels, as in the case of the steamer Dolly. I was informed by the officer of the day that my detaining vessels with military permits would subject myself to arrest and imprisonment, which I was not willing to incur, and I made no further attempt to stop any vessel, but contented myself to receive anything that might be tendered me. The cotton-traders I noted only, and I feel assured that some of them will pay ultimately; perhaps the pay will come wheu we most need it. I afforded every facility, and was often out of pocket in doing so. I made several at¬ tempts to get aid from the department, and went twice to Washington for that purpose. I will thank you to examine paper No. 2, directed to the Secretary of the Treasury, and his reply, marked No. 3.” State of Virginia, City of Norfolk, to wit: I, W. M. Chaplain, a notary public for the city aforesaid, in the State of Virginia, do hereby certify that the above is a correct extract from a paper on file in the office of the Dismal Swamp Canal Company, signed by Leroy G. Edwards, custodian of the said Dismal Swamp Canal Com¬ pany. Given under my hand and notarial seal this the 19th day of Decem¬ ber, 1871. [SEAL.] W. M. CHAPLAIN, Notary Public. 14 DISMAL SWAMP CANAL. B. Memorial of the Dismal Swamp Canal Company to the Senate and House of Representatives of the United States of America , December 30,1874. A memorial of the Dismal Swamp Canal Company was addressed to the Congress of the United States, dated December 20,1871, askingfor aid in the repair and improvement of the company’s works, which, for various reasons, was prevented from coming up in time for considera¬ tion at the last two sessions. The petition is renewed, with the hope that the justice of the claim and the merits of the work will entitle it to a favorable consideration, for the following, among other reasons which might be offered: The capital of the company at the present time is about $1,600,000, $486,000 of which is a direct subscription, and the balance ($1,114,000) is derived from the application of the revenues of the company for many years to the completion and improvement of the works. In this capital the United States, as a stockholder, is interested to the extent of nearly one-half, or $750,000. This canal connects the waters of the Chesapeake Bay with the sounds of North Carolina, and is a necessary link in the continuous chain of inland navigation extending from south to north in a coastwise direction. It commences in deep water very near the Norfolk navy- yard, and discharges into Pasquotank Kiver, North Carolina, in deep water also, and before the late war was regarded by shippers as by far the most eligible and reliable, as well as the shortest and cheapest, route between the two States named. From the opening of this canal to com¬ merce, many years ago, and down to the close of the late war, it was the route through which most of the products of North Carolina essen¬ tial to the building and equipment of a naval marine at this and other points farther north was derived, and the diminution in the cost of ship- timber, pitch, tar, rosin, and other products necessary to the United States yards, can be fully estimated only by a comparison with their cost by the outside or sea route. And when to this we superadd the certainty and security, especially in time of war with a naval power, and the dispatch in the obtainment of these supplies, besides the main¬ tenance at all times of the intercommercial relations of the States, free from interruption, we will not be surprised that the government at an early period should have recognized its national character and subscribed to its stock, and since, on several occasions, manifested an interest in its continuance. In 1822-’23 the United States appropri¬ ated $200,000 to the canal, represented by 800 shares of stock, and in 1832-’33 united with the company in dedicating their joint dividends to an improvement of common benefit to both. The company, as before said, has not paid dividends very regularly, preferring rather to expend its accruing revenue upon improvements, as occasion re¬ quired, and in this way has created a work costing about $1,600,000 with a direct subscription of only $486,000. From this brief review, and the reports of the company, it will appear that the United States as a stockholder merely has derived from its stock about $136,000 in dividends, which is about four-sixths of its subscription ; and, in addi¬ tion, has reaped advantages from the works not shared in by the other stockholders, and which, in a pecuniary, military, and commercial as¬ pect, as before adverted to, would probably by many times exceed the amount of its subscription. Again, the United States took entire possession of the works early in 1862, and continued to bold them through PS’Comfort CfcPtHErriNC CHESAPfAKg qay ' WITH C U RRUy CICMIl WAR LE AND • AML ICO SOUNDS ANQ THEIR TRIRUTARY SY»raJ*& jD) . B .mLTIM, civil k 1»(>7 E.C .HOBIXKOX , PRES T Krinfi*\nllt ■arthLemriyWM& flirt/) Creek Hi rkirry Groan tl • Urummon *KexnoljLum He ddi cksvilte (rremtnvm diet CurritucJc In/zt . QRAI’l SfrrtHuu'd 'fJf Curritnc) C.H. BucklatuL \J.ock ” iSou/Ji Mi// intonsvillf. \ QattJsrilU .Suns bury IiuUfintoirn ■Itichtnn YsrtZ/e Wood!finch hints here/ flc ii 7 tii pSft>vyer& Y out/ock. •Richst/tture UlTTfi LIZ A P ETH CITY Poj^fir H ranch Jitch I am dine/ : nrirys llijtli/r V nr in ton •RikVobeL l« Tohrtscm Pt Otleraen Scot/cm (l Jerk Yaetnc Point 1& ton* Ram f ‘/ctnr\’fft 'rcrrcanjc Mercy f/Ul \- s o\V Baarutkr finer Lu/hi HAMILTON I'prtccg ► f/ucnJcia neon 'Ihrboro ’ * Ci ty*p t/ ccor/t/ \ Ja/neston liethel / ’ctf/cf/cnr/ • lit /1 boro R'tc/plus (ireeniy//e Hark Swamp ,WASHINGTON ‘anttc/n son Cn.rHUe • Montcfncnerv Mu/t//tim ty , *<*/<„,, Z Or**. Hvckcrtvji a Menu On nr ter ZficAory / J t JPutjhs Mills Xorth West Row// Shoal Litfhi Mellon Park Royal Shoal tk unfits Lxuiftc/ Lufht ( can tty’t '/'re/cl on Oak Hi chi a nils *Hc/y\~/trani h Bills 1 *t W nth/trine Luke %Jmtti//s Oust* \ ( //. iney Green Caroline i vborft Antfola //first * . DISMAL SWAMP CANAL. 15 an agent of the then Secretary of the Treasury until after the close of the late war. During all this time it was beneficially used by the govern¬ ment without any compensation, for military and commercial purposes; in the conveyance, to and fro, of troops, munitions of war, and stores; in supplying water for the Army and Navy, and in the transportation of cotton, tobacco, and other products, sanctioned, at that time, by the government, and when, finally, the work at the end of the war ceased to be of any further military or commercial necessity it was surrendered to the company in a condition of great dilapidation, the effect jointly of neglect and hard usage. (See appendix.) A work so generally bene¬ ficial and of such promise of success, which had been built up after so many years of effort and self-denial iu the use of its revenues in order to complete an insufficient capital, was deemed worthy of restoration, and efforts have been made by the company, by issuing its bonds, in order to repair the damages alluded to and introduce some necessary improvements, without other aid; but this has been only partially suc¬ cessful, leaving the works in a very unfinished state. We therefore in¬ dulge the hope that from considerations of sound poliey and national necessity ; the large pecuniary interest of the United States; the many advantages of a safe and cheap transit extending through so many States, and connecting with so many sites for naval operations, com¬ bined with the fitness of recognizing, in some appropriate manner, its value in a time of national exigency, and redressing injuries sustained while in the exclusive use of government, our application will meet the favorable consideration of Congress. The United States thus far has received in dividends and in collateral benefits a remuneration much larger than its subscription to this work, and we believe it furnishes the only instance where the aid of Congress to works of internal improve¬ ment has been repaid. The estimated cost of repair and improvement is as follows: Dredging and deepening main canal of 29 miles. $70,000 Dredging and deepening feeder, including new lock for same. 15,000 Rebuilding two locks, one at Deep Creek, the other at south end, each 30 by 165 feet.— 110,000 Rebuilding Gilmerton lock, 30 by 165 feet, usiug much of the old stone. 38,000 Completing excavation of summit-level and widening canal throughout from 30 to 60 feet. 115,000 Steam-dredges for above work. 30,000 Rebuilding bridges of more substantial kind.. 7,000 Incidental structures, such as repairs of Deep Creek, dam, waste-weirs, lock- houses, &c. 17,000 Total. 402,000 We present it without suggestion as to the mode and measure of relief from Congress, and your petitioners praying, &c. Appendix. [Extract from a paper filed in the office of the Dismal Swamp Canal Company, signed by Leroy G. Edwards, custodian of the Dismal Swamp Canal Company.] To the Stockholders of the Dismal Swamp Canal Company : I beg leave to lay before you a succinct history of the Dismal Swamp Canal during the late war: In the latter part of the summer of 1862, the United States forces took possession of the work. They gave us much trouble. Mr. Henry Williams has given his deposition, 16 DISMAL SWAMP CANAL. and it has been filed in the Treasury Department at Washington. I was restricted in everything until I received a commission from said department as proxy of the govern¬ ment in consideration of the eight hundred shares held by it in said company. This was in November, 1863, and enabled me to save the work from entire destruction. Be¬ fore that I had been treated with disrespect. The books of the office were taken from me, with the building which contained them; my desks were broken open, and a de¬ struction of my papers was perpetrated, and the office not restored to me until the last military command was withdrawn. I think the United States Government have been benefited to the full extent of the amount necessary to rebuild the work. The watering of the Army and Navy would be but a small charge at $3,000 per month, and every regiment of horsemen, at the usual rate of road-toll (25 cents each), to say nothing of carriages, would amply pay for keep¬ ing the banks. Surely they will do us justice ultimately. Then the supplies for the armies, provender, stores, &c., I cannot doubt that we shall be paid. Goods were carried through under military permits. I asked payment of tolls, which was refused. I tested my power to stop vessels, as in the case of the steamer Dolly. I was informed by the officer of the day that my detaining vessels with military per¬ mits would subject myself to arrest and imprisonment, which I was not willing to in¬ cur, and I made no further attempt to stop any vessel, but contented myself to receive anything which might be tendered me. The cotton-traders I noted only, and I feel as¬ sured that some of them will pay ultimately ; perhaps the pay will come when we most need it. I afforded every facility, and was oft en 11 out of pocket ” in doing so. I made several attempts to get aid from the department, and went twice to Washington for that purpose. I will thank you to examine paper No. 2, directed to the Secretary of the Treasury, and his reply marked No. 3. State of Virginia, City of Norfolk, to wit: I, W. M. Chaplain, a notary public for the city aforesaid, in the State of Virginia, do hereby certify that the above is a correct extract from a paper on file in the office of the Dismal Swamp Canal Company, signed by Leroy G. Edwards, United States custodian of said Dismal Swamp Canal Company. Given under my hand and notarial seal this the 19th day of December, 1871. [seal.] W. M. CHAPLAIN, Notary Public. C. Annual report of the president and directors to the stockholders of the Dis- 1871 ® Wam ^ ® ana ^ Q° m l P an Ui f or the fiscal year ending September 30, annual meeting. At an annual meeting of the stockholders of the Dismal Swamp Canal Company, held pursuant to notice, on the 6th day of November, 1871, at the office of the company, in the city of Norfolk, C. W. Newton, esq., was called to the chair, and Geo. E. Bowden, jr., appointed secretary, and E. C. Robinson and Maurice Eitzgibbon committee to examine proxies and number of shares present, who, on examination, reported present 1,383 shares. * The president, Win. B. Rogers, read his report showing the condition of the company, &c., which, on motion, was received and ordered to be filed. The report of the committee to examine the condition of the canal, account, &c., was read, and, upon motion, was received and ordered to be filed. DISMAL SWAMP CANAL. 17 Da motion, it was Resolved, That tlie report of the president, with the recommendations and suggestions therein, including those with regard to the reopening, &c., of the Northwest Caual, and also as to the advantage to this company of turning over to a new company the use of said Northwest Canal, or repairs thereof for their own use, be referred to the president and board of directors for immediate action, and report to the stockholders at an early day, for their action on the subject of the Northwest Canal. Ou motion, it was Resolved, That the president and directors be requested to remodel their tariff of tolls so as to iucrease revenue without risking competition from other quarters, within the limits prescribed by their charter ; and, if necessary, to apply to the legislatures of the States of North Carolina and Virginia to extend the rates now allowed. On motion, it was Resolved, That the president and directors be, and they are hereby, instructed to de¬ fend the rights of the canal company against any intrusion or violation of our rights to the waters of the canal and of Deep Creek under the charter of our company; and that they, upon any such intrusion, shall immediately procure an injunction, so as to prevent any violation of our rights; and that the board of water commissioners of the city of Norfolk be furnished a copy of this resolution. On motion, the salary of the president was fixed at $1,500 per annum. On motion of E. 0. Robinson, William B. Rogers was nominated for re-election to the position of president of the company. Whereupon he was unanimously re-elected. John B. Whitehead, W. H. O. Ellis, D. D. Simmons, and E. C. Robin¬ son were then elected directors for the ensuing twelve months. On motion, C. W. Newton was appointed as an associate of the presi¬ dent and directors to prepare memorial to Congress. On motion, the meeting adjourned, subject to the call of the chairman. GEO. E. BOWDEN,. (Secretary. REPORT OF PRESIDENT FOR THE FISCAL YEAR ENDING SEPTEMBER 30, 1871. Office Dismal Swamp Canal Company, Norfolk , Fa., November 6, 1871. To the stockholders of the Dismal Swamp Canal Company: Gentlemen : On behalf of your board of directors, I have the honor to submit the following report of the condition of the affairs of the com¬ pany for the fiscal year which ended on the 30th of September past. Since the last report, great progress has been made in dredging and widening, reaching a point of 3J miles from beginning on the westward side and 2 miles on the eastward side of the canal. Obstructions have been removed at intervals, as necessity indicated, locks kept up, and bridges repaired. the westward side of the locks at Deep Creek having fallen in, an interruption to navigation ensued, of some thirty days. All expedition was used in replacing jthe masonry. At your called meeting on the 15tli of July last, in consequence of the financial condition of the company, it was your pleasure to pass a series of r esolutions, one of which embraced a suspension of all general work on rhe caual. Since that period, under a personal superintendence, we have strictly confined ourselves within the spirit of those resolutions, kept the road¬ bed in order, and made only such repairs (inclusive of the bracing of tin- westward side of the Deep Creek lock) as were necessary to naviga- H. Ex. 19-2 18 DISMAL SWAMP CANAL. tion, with strict regard to economy in our administration, and the in¬ crease of revenue. We have to report the caual in good navigable condition for its present capacity, with the exception of the Gilmerton Level and Turner Cut, which we recommend to be dredged as early as ciicumstances will per¬ mit. We have had some recent repairs to the bridge over the south locks. The bridge will require rebuilding, which we recommend as early as practicable. 1 In reference to the completion of the widening of the canal and the removal of the summit level, upon which so much has been expended, and which will make no addition to its capacity or add to its revenue unless carried to completion, it may be well to refer to some of the reasons which originated the improvement. It is a fact well known that at the time of projecting and buildiug the work, it was considered to have sufficient capacity for the trade. Some years later a rival canal, the Albemarle and Chesapeake, was inaugurated and completed, affording facilities of navigation to a much greater extent, and the consequent destruction of vessels during the war which were particularly adapted to the navigation of our work, coupled with the fact that foreign capital had combined to have constructed a much larger class of vessels, which could not pass our locks, and adapted to the navigation of the Albe¬ marle and Chesapeake Canal, our revenue, confined almost entirely to local trade, was continuously reduced until it reached the small sum of some $7,000 per annum. This revenue has been increased to twelve and thirteen thousand dol¬ lars, and we hope to increase it yet further, even with our present facil¬ ities; yet we cannot reasonably hope for successful competition unless the work is carried to completion. In view of the large benefits which have resulted to the United States Government in the past, and the prospective benefits, I would recommend the appointment of a commit¬ tee to draught a memorial to Congress, duly setting forth all the facts in the case, and the same to be forwarded to our Representative, the Hon. Mr. Platt, and the Representative for the State of North Carolina, solic¬ iting their hearty co-operation. We refer to the following reports: Treasurer’s report, showing the financial condition of the company. Collector’s report, showing the inward and outward receipts during the fiscal year, and the number and classes of vessels passing and re¬ passing. Report of examining committee for the condition of the work. We have received some intimation, but have not been officially in¬ formed by the board of water commissioners, of their design to draw their supply from the waters of Deep Creek. It is a fact well attested, that during two months of the year, with all our waste water from the canal into the »basin, there is no subwaste over the lower dam, thus requiring all the water for navigation. A reduction of one inch during those periods would prevent navigation. It may be inquired, cannot we deepen the river or basin? We can, at much expense, and which expense would be continuous, as the tendency would be continually to fill up from a widened base of mud bottom; and we are not called upon to make improvements for other corporations. It has been suggested that a reservoir could be constructed at the upper portion of the creek, to guard against this difficulty. For author¬ ity, however, to moke any contract, we refer to the three acts of the DISMAL SWAMP CANAL. 19 assembly passed February 4,1837, February 2, 1838, and February 9, 1839# In accordance with a resolution of our board, verbal protest has been made to the chairman of the water commissioners against the use of the water, which was designed 4o be followed by a written protest, all of which, and for further action, is referred to you. The Northwest Canal, a portion of our work, has been closed for some years. There is considerable revenue to be derived from this branch of the canal, and the good people of that section much benefited. To find a market for their timber, &c., they are now forced to the North River, through the Albemarle and Chesapeake Canal, a distance of over one hundred miles, Avhich would be reduced to twenty-two miles through our work. I refer you to a petition of the people of the counties offering to loan our company $15,000 of their county bonds to assist in clearing the obstructions from this canal, and requiring ns to appropriate a portion of the earnings from this branch for interest and the gradual absorption of the bonds. Some objections have been made by others than the petitioners to the opening of this branch canal, while complaints are made of the overflow of the lands bordering upon the same, and they suggested a remedy, by providing a waste-gate and shut-off, to be placed at the intersection of the main and Northwest Canal. We would respectfully call your attention to a careful consideration of the matter. Before closing this report, we would call your attention to the item of $1,410.27, credited to Leroy G. Edwards, noted in the treasurer’s report. Judgment has been obtained on this. The account credited to bills pay¬ able, old account, $21,811.97, has reached judgment in favor of Mrs. R. Tunis and W. B. Isaacks, of Richmond. And the disputed claim of Danliel J. Turner has resulted in judgment against the company, amount¬ ing to some $22,000. All of which is respectfully submitted. W. B. ROGERS, President . REPORT OF THE EXAMINING COMMITTEE. Office of the Dismal Swamp Canal Company, Norfolk , November 3, 1S71. To the stockholders of the Dismal Swamp Canal Company: The undersigned, a committee of examination, appointed at your meeting held July 15, 1871, respectfully submit the following brief re¬ port : At the instance of the president, and in company with some of the directors and stockholders, we visited the canal, passing up as far as the Culpeper lock. The canal is in good condition for the accommodation of such navigation as is offering. From observation and representa¬ tions from other sources, it appears to be very desirable, if not neces¬ sary, to remove some obstructions to navigation in the Turner Cut, also in the Gilmerton level, these being the only portions of the work where there is any difficulty of navigation for such vessels as your locks are adapted to; and we have reason to believe the trade and revenue would 20 DISMAL SWAMP CANAL. be materially increased by such improvement. The brief period that has elapsed since our last report leaves but little to say in addition. An examination of the books and papers of the office shows satisfac¬ tory vouchers, duly numbered and indorsed, for all money transactions to the end of the fiscal year, September 30,4871. We find the revenue for the past months moderately increased over corresponding months last year. The road is kept in good repair, and we take pleasure in stating that the officers and employes along the line give general satisfaction. The bond of the treasurer, with satisfactory sureties, is in the posses¬ sion of the company, duly executed. All of which is respectfullv submitted. E. 0. ROBINSON. D. S. CHERRY. treasurer’s report. Statement of the condition of the Dismal Swamp Canal Company , October 1, 1871. DISMAL SWAMP CANAL. ON®ONtO Ot^COO!J»i>CO O^nOOMCi OhiCOhoJO OQDWO'I'hN CD CD »—< 00 D* 00 -r t-h CM 43 fl a c © © a 43 a pH o o 68 fl ® ^ s fl .3 -e ° pJ 2 o p -a ^ „ ^ a a a 05 o ■43 GO Tf ONCDOhi* O Ot^COOtMh O H r-H O O CO H O 1 —1 ID O *-H O OOOCOO^H 0 00 (M 00 rH CD •> CD O CD P P ® » ^ s c ra ra ^ >>2 o 1 h3 a a o © © a © a a © 43 a a o © © a CO 'O a o r© © be a be 43 Hi o a i r3 r—H o *> © o GO S-i > _ --- ® c$ JPh I ^ ®~ «HL ^ >> © ^ a c3 aO ^ P 43 ® ® ,a bC O 43 GC r-H a ® >i 2 2 & CTr—I i—• a \S C3 • •— »h- © Co OCQMW WW OHDiOCONOiOOiON-HO)©:C OCDCOXuO^CaXOOiDX4>X^ OOiOlOOX^iDCDXOIXCDCCX oa^HrrQcoTfcc^OfM hh CD X 'TV co >§ 43 w 50 © 5m O Tf O H iD l> (M CD CO O OOOO^hOOTf r>. O 00 X (M CD CO X 1 TT 00^0 HH rs Oi •s •> #■• ©DO O X r-3 Tf rH a e>. €>• CD •s CD O CD a a M 20 © . SK H a >> a a Pi g o O a a a Gu g a co 43 a © g © be a ^ a r-H ao © a c3 43 a a o © Sh oO © ® P O O P “ H «m a o 43 43 a GO o o t- CO s-< • pH a p © hH a a a 43 a © g © be u a a ^ co © a WO be u > O a a p g o O a W a a §* a 5 a C2 h > * >«2 fe O—• gw a 53 • ® a k. • r« * J ) 22 DISMAL SWAMP CANAL. RECEIPTS Of the Dismal Swamp Canal and Road for the year ending September 30, 1871. INWARD OR NORTH TOLLS. Coopers’ logs.cords. 4,341 Corn.bushels. 127,235 Cotton.bales. 2,073 Fish.barrels. 3,578 Flaxseed.bushels. 22 Peat.tons. 150 Posts. 7,768 Plank.M feet. 332,210 Potatoes.bushels. 3,939 Peas.bushels. 2,026 Tons.. Reeds. ..cords. 872 Rails.. .M. 59,320 Staves. .M. 141,686 Shingles. 3,053,900 Railroad-ties. .M 167,113 Timber. .cubic feet. 64,394 Telegraph-poles.. 398 Tar. 151 Wood. .cords. 6, 864 Wheat. 3,149 ... 7,779 OUTWARD OR SOUTH TOLLS. Apples. 14 Oats. 50 Bricks. .M. 2, 000 Pork. 510 Butter.. 32 Powder. 31 Buckets. 8 Plows.. 188 Brooms. 6 Plank. .M. 7, 000 Cakes. 102 Potatoes. 10 Coal. 70 Rope. 56 Coffee. 151 Sugar. 418 Cheese. 75 Spirits. 316 Crockery. 30 Salts.. 1,348 Corn. 1,493 Snuff. 211 Chairs. 13 Shot. 104 Flour. 2, 384 Shoes. 231 Fish. 25 Salt. 2,300 Hay. 128 Sugar. .hhds. 19 Lime. 598 Soap.•. 450 Laths. .M. 7, 000 Tobacco. 316 Molasses. 466 Trunks. 40 Merchandise. 8,617 Tar. 8 Meal. 270 Vinegar . 4 Nails. 188 Wheat. 4 Oil. Tons. 63 9, 825 Inward tolls. Road tolls. 588 06 Outward tolls. Rents. 58 00 12,797 60 Remarks. —Canal closed by ice from December 24, 1870, until January 6, 1871. Canal closed for repairs of Deep Creek lock during the month of May, 1871. DISMAL SWAMP CANAL. 23 Number and class of vessels passing through the Dismal Swamp Canal during the year ending September 30, 1871. Date. Steamers. Schooners. Sloops. Lighters. Boats. Rafts. October, 1870 . ( North. 22 17 8 2— 10 103 15—118 100 1 6— 1 ' i South.. 22— 44 19— 36 7 6_ 7 November, 1870. < North. 23 11 2 3 23 40 18— 29 12 7- 12 10 11—120 86 1_ 3 0_ 3 December, 1870 . C North. 20 6 7 * \ South. 10— 40 25— 37 .5_ 15 15— 101 87 16— 103 114 6_ 12 0_ 7 January, 1871.. C North. 10 11 5 0 6 ‘' \ South. 18— 37 13— 24 18 10— 15 7 0_ o 0_ 6 February, 1871. C North. 16 2 4 '• * South. 15— 31 14— 32 23 8— 15 8 16-130 144 4_ 6 0_ 4 March, 1871. April, 1871.. C North. 24 1 1 ' $ South . C North. 23— 47 23 22— 45 30 3— 11 8 2— 10 ] 18—162 106 19—125 1 — r. 2 4 2 '' I South. 23— 40 23— 53 8— 14 0— 4 May, 1871*. ( North. 17 4 30 6 4 ' ’$ South. 16— 33 3— 7 3— 4 3— 33 0— 6 0_ 4 June, 1871. July, 1871. C North. 18 9 6 153 2 2 " l South. ( North. 17— 35 28 11- 20 7 4— 10 5 17—170 87 5— 1 7 0— 3 2 “) South __ 29— 57 11— 18 7— 12 12— 97 5— 6 tt— 3 August, 1871. C North... 29 12 4 90 1 1 * i South. 30— 59 10— 22 3— 7 11—101 1_ 2 0_ 1 September, 1871. £ North. 24 16 2 96 1 2 ' l South. 23— 47 13— 29 1— 3 14—110 0— 1 0— 2 Total_ 522 352 134 1,372 66 39 Total number of vessels of all sizes. 2, 475 * Canal closed to repair Deep Creek lock. JAMES T. CARR, Collector Dismal Swamp Canal Company. Annual report of the president and directors to the stockholders of the Dismal Swamp Canal Company for the fiscal year ending September 30, 1872. REPORT OF EXAMINING COMMITTEE. The undersigned, members of the examining committee appointed at your last annual meeting, respectfully report: On Saturday, November 2, we, in company with the president, pro¬ ceeded to Deep Greek for the purpose, as far as practicable, of a personal examination of matters particularly under our supervision. In view of the fact that all new work had been suspended during the past year, we are only enabled to make the following brief statement: From per¬ sonal investigation, and from other reliable information, we are satisfied in representing that the operations of the canal have been conducted for the past year satisfactorily, affording accommodation to all the trade offering. All necessary repairs have been made as far as practicable and the resources of the company would justify. The books of the company exhibit every item of expenditure, with vouchers for each entirely satisfactory. The president’s report can alone present the affairs of the company in detail. 24 DISMAL SWAMP CANAL. In conclusion, would remark tliafc in our judgment the interest of the stockholders is properly protected under the present management. Respectfully submitted. B. P. LOYALL. DANIEL S. CHERRY; W. C. MARROW. REPORT OF THE PRESIDENT. Office Dismal Swamp Canal Company, Norfolk, Va., November 4,1872. To the stockholders cf the Dismal Swamp Canal Company: Gentlemen : On behalf of your board of directors, I have the honor to submit the following report of the condition of the affairs of the com¬ pany for the fiscal year which ended on the 30th of September past. Referring to resolution 1 of the last annual meeting of your body here quoted: Besolved, That the report of the president, with the recommendations and sugges¬ tions therein, including those with regard to the reopening, &c., of the Northwest Ca¬ nal, and also as to the advantage to this company of turning over to a new company the use of said Northwest Canal, or repairs thereof for their own use, be referred to the president and board of directors for immediate action, and report to the stock¬ holders at an early day for their action. In accordance with the authority above quoted, we proceeded at once to make deed of lease and transfer to the proposed new company, but a completion of the same was prevented in consequence of a declination on the part of the new company to treat further on the subject, owing to the present complications in the way of legal transfer of rights under present mortgages, &c. The result has proven beneficial to our company. We have passed through a year of almost unparalleled dryness, and to prevent interrup¬ tion to navigation found it necessary to dam across the Northwest Ca¬ nal, the utility of which has been subsequently proven, as we had to husband all our resources of water, and our action in the premises has also removed a heretofore fruitful field of complaint from the adjacent land-holders. The bed of the small canal is now as dry as the road-bed. Resolution 2 of your last meeting: That the president and directors be requested to remodel their tariff df toll so as to increase revenue without risking competition from other quarters within the limits prescribed by their charter; and, if necessary, to apply to the legislatures of the States of North Carolina and Virginia to extend the rates now allowed. Under this resolution we have prepared and enforced a tariff, the result of which is fully apparent in our finances. Resolution .3 of your last meeting: That the president and directors be, and they are hereby, instructed to defend the rights of the canal company against any intrusion or violation of our rights to the water of the canal and of Deep Creek under the charter of our company; and that they, upon any such intrusion, shall immediately procure an injunction, so as to pre¬ vent any violation of our rights; and that the hoard of water commissioners of the city of Norfolk be furnished a copy of the resolution. After a conference with some of our old stockholders, who have given in¬ disputable evidence of their interest in the success of our work, we deemed it advisable, in connection with our present able counsel, Mr. W. H. 0. Ellis, to retain General John S. Millson. A correspondence was held by the president with the chairman of the board of water commissioners, DISMAL SWAMP CANAL. 25 ami the subsequent action of the water board (having made another selection for water) has, for the time at least, fully disposed of this matter. Enlargement , repairs , and improvements. Much has been accomplished during the year in way of repairs and improvements. The dam dividing Deep Creek from the Elizabeth River having to some extent given way, has been put in complete order, and is now safe against full tides and gales. The gates at Deep Creek were built some thirty years ago, and the middle gate threatened a burst-up daily. An occurrence of the kind would necessarily be attended with great loss to property, and perhaps life. We therefore had built and placed in position a new gate. The gates at Culpeper locks, built some years since, are inferior in the quality of the timber used in their construction, and have afforded much trouble in the leakage of water, and have been one of the items of expense to keep in order. We have but recently completed some repairs of the same. Also, repairs have been made to the locks at Northwest, and to the gates, which are not in good condition, and will require further repairs. We have dredged the canal to some extent, but there now remains several shoal places, which will require further dredging during the year. The road-bed is in very fair order, and we have opened, and are yet opening, ditches to the extent of ten miles. About six miles of this ditching is 20 feet on the bank and 11 to 12 feet at the base—quite a canal, as you perceive. In the wisdom of our predecessors, some thirty years ago, these ditches were made to carry off the sweat-water, aud for the past fifteen years have been more or less closed by the continuous washing and filling. This has been a source of annoyance to the company for many years, and recently suits have followed complaints. We decided to remove this difficulty, though at a very heavy expense to the company, but which results eventually to the good of the same, and will materially aid in keeping in order the road-bed, &c. Our obligations are now out for some $2,000, which will complete this branch of the work. The propriety of this expenditure may be questioned. None will deny, however, that where an obligation exists to cut sweat-ditches it is con¬ tinuous to keep the said ditches open, unless provided for to the con¬ trary in the original compact. The bridge at South Mills, in consequence of decay, has been removed. We have prepared a ponton-bridge, which meets the demand until we can build a new one, and which we recommend to be done as early as possil le. The bridge over the Gilmerton Cut is so much decayed as to be un¬ safe for travel. We therefore recommend that it be replaced by a new work at once. As previously intimated, we recommend the dredging of the entrance to the canal at Gilmerton, at the Feeder, the Half-way House, and several oihar shoal points, embracing altogether about one and a half miles. The work which has been done, and which we now recommend, is essential to the welfare of the canal were we now in condition to enlarge as con¬ templated. The revenue is important, and this would be continued and increased until we were ready to build new locks, &c. It was your pleasure at your last meeting to associate with our di¬ rectory, for the purpose of preparing a memorial to Congress, Col. C. W. 26 DISMAL SWAMP CANAL. Newtou, and we are gratified to acknowledge our obligation to him for the able mauner iu which he has discharged that duty. He is entitled to the warm thanks of every stockholder of the company. We are also much indebted to our Representative, Col. James H. Platt, who has ever evinced the utmost readiness to serve us. iu the presenting of our memorial, &c. It has been referred to the Committee on Com¬ merce, and should be urged upon the attention of Congress. We are gratified further to say that a survey of the canal and an examination of the estimates we made was ordered by the government, which re¬ sulted favorably, and was a full indorsation of our estimates, the amount being increased about $38,000, and now calling for $440,000. This recommended increase resulted from a conclusion to extend the new lock to 225 feet in length, previously estimated for at 165 feet. Table A.—Finance. This table exhibits the operation for the year ending the 30th of Sep¬ tember : Condition of books prior to balance. Cost of property..•_ CU a- o e o 00 1 1 Capital stock. $4^6,000 00 Profit aud loss account. 126,810 39 First-mortgage bonds. 200,000 00 Salaries general officers. 1,700 66 Bills payable ante helium, .... 21,811 87 Office-expenses. 404 86 L. G. Edwards. 888 90 Law-fees. 25 00 Revenue-account. 19,998 90 Interest on funded debt. 14, 555 00 Discouut or interest-account. 797 79 Canal-tolls. 2, 673 62 Road-tolls. 60 00 Enlargement and repairs.... 95.435 82 1 Cash account. 236 43 728,699 57 ; 728,699 57 Table B. Present condition of books. Cost of property. $486,000 00 1 Profit and loss account. 127,028 42 Enlargement and repairs.... 95,435 82 Cash account. 236 43 ! 708,700 67 1 Capital stock. $486,000 0C First-mortgage bonds. 200,000 00 Bills payable. 21,811 77 L. G. Edwards. 888 90 708,700 67 JOHN E. DOYLE, Treasurer . That the report may be fully intelligible to every stockholder, we proceed to make some comments upon the different tables : The coapon-interest on $200,000 8 per cent, bonds amounts to Report, Table A, shows.. Discount paid. $16,000 00 $14,555 00 707 79 15,352 79 The difference between the full interest and the amount charged we proceed to explain: The entire coupon-interest was provided for. but at the close of our DISMAL SWAMP CANAL. 27 fiscal year nine coupons had not been presented, and consequently was charged back, thus crediting funded-debt interest-account with the amount. Secondly, we deducted from the coupons paid 3J per cent., a Virginia State tax, which had been also charged to funded debt. The holding of this tax was protested against by the coupon-owners, and, under advice, we have made no disposition of the same, only crediting funded-debt interest-account with the amount so charged. Since the •close of our fiscal year five of the coupons have been presented and paid, and will appear in the next report. This table also presents a very gratifying increase of our revenue for the year—about 60 per cent, over the previous year—and a large dimi¬ nution of expenses. After the adjournment of the last annual meeting, some of the stock¬ holders were anxious to know the items which constituted the profit and loss account, then amounting to $119,282.81, per report. This account was created prior to our administration, and has since been increased by closing an item of account against W. R. Overton, $130.86; Farmers’ Bank of Virginia, ante bellinn , $66.72; and the loss consequent upon a sale of the residue of the bonds, which had also been previously pledged to the banks for moneys borrowed and disbursed, and the total of which account, now amounting to $127,028.42, fully itemized, is pre¬ sented with the report, marked Table 0. Table D exhibits the receipts of the canal, north and south, during the year, and Table E the number and class of vessels passing through the same. Before closing this report, we must be permitted to say that during the year the canal has been much improved and its revenues largely increased. The great importance of opening up this highway of trade and commerce is daily demonstrated, and we would urge upon you the investment by your president with full powers and authority to press upon the attention of the next session of Congress the national impor¬ tance of the same to the government. You, as stockholders, can best judge of its importance to yourselves. All of which is respectfully submitted. W. B. ROGERS, President . Table D. Receipts of the Dismal Swamp Canal and Road for the year ending September 30,1872. INWARD OR NORTH TOLLS. Corn. 204,470 Cotton. 1,365 Chickens. ...M. 22,133 Cattle. 604 Fish. 8,606 Flaxseed. 166 Eggs. 53,523 Hides. 460 Iron. 62,500 Logs, coopers’ .... 7,108 Pease. 4, 994 Piles. 6G4 Inward passengers. Potatoes.bushels. 13,123 Posts. 14,053 Reeds.cords. 113 Rails.M. . 264,650 Rags.pounds. 20,990 Staves.M. 179,975 Shingles.M. 3,208,980 Shad .M. 117,134 Ties.M. 257,209 Timber.cubic feet. 16,298 Wood.cords. 5,111 Wheat.bushels. 6,419 3,614 28 DISMAL SWAMP CANAL OUTWARD OR SOUTH TOLLS. Apples. 17 Bricks. .M. 6, 600 Butter. 116 Buckets. 12 Bacon. 31, 050 Brooms. 8 Cakes. 94 Coal.. 79 Coffee.. 210 Cheese. 117 Crockery. 23 Corn. 1,228 Chairs. 28 Flour. 5, 580 Fish. 158 Hay. 129 Lime.. 3, 633 Laths. .M. 3, 000 Molasses. 420 Merchandise. .cubic feet. 9, 885 Meal.. 249 Nails. 146 Oil. 112 Outward passengers. Oats.bushels. 198 Pork. barrels. 730 Powder.kegs. 20 Plows. 391 Plank.M. 14,741 Potatoes.barrels. 234 Rope.coils. 25 Sugar.barrels. 213 Spirits.barrels. 317 Salt.sacks. 1,267 Snuff.jars. 236 Shot.bags. 97 Shoes.boxes. 194 Salt.bushels. 4, 850 Sugar.hhds. 4 Soap, &c.boxes. 2,198 Stoves. 34 Tobacco.boxes- 812 Trunks. 10 Tar.barrels. 20 Vinegar.barrels. 12 Wine.barrel. 1 . 3,588 S. W. GARY, Collector. Table E. / Report of the number and class of vessels passing through the Dismal Swamp Canal for the year terminating September 30, 1872. Year and month. October, 1871... November, 1871 December, 1871. January, 1872... .February, 1872 . March, 1872. April, 1872. May, 1872 . June, 1872. July, 1872 . August, 1872 ... September, 1872 Total. North. South . Steamers. 1 Schooners. Sloops. Boats. i Lighters. Rafts. Total. 54 43 43 58 50 53 55 46 39 43 39 32 58 54 33 39 31 53 52 58 31 31 28 12 3 14 1 17 1 24 19 8 8 9 6 7 9 2 1 ... — 6 26 2 11 3 7 110 125 127 125 109 140 148 131 112 94 91 81 2 2 2 1 2 1 1 1 2 242 233 208 239 208 272 281 270 193 188 167 141 555 480 133 67 1,393 14 i 2, 642 275 244 70 35 1,253 14 1, 891 280 236 63 32 140 751 S. W. GARY, Collector. Annual report of the president and directors to the stockholders of the Dismal Swamp Canal Company for the fiscal year ending September 30, 1873. REPORT OF EXAMINING COMMITTEE. To the stockholders of the Dismal Swamp Canal Company: Gentlemen : We have the honor to report that on Friday, 31st ult., by invitation of the president of the company, we proceeded to examine DISMAL SWAMP CANAL. 29 the condition of your canal. As far as practicable we found that there is no obstruction to navigation in any department of the work, and we take great pleasure in the fact that the canal has not been closed for work or repair during the past year. In addition to the ordinary work necessary, the president has been obliged to renew three of the bridges over the canal, which has been no small tax upon the resources of the company. If the means were at the command of the president for dredging even in a small degree, we believe the trade through the canal would rapidly increase. In closing this report, we feel it but due to the president and other officials of the canal company to compliment them upon the manage¬ ment of the affairs of the company. The books of the company exhibit every item of expenditure with satisfactory vouchers. Respectfully submitted. B. P. LOYALL. W. 0. MARROW. DARIEL S. CHERRY. GEORGE NEWTON. president’s report. Office Dismal Swamp Canal Company, Norfolk , Fa., November 3, 1873. To the stockholders of the Dismal Sic amp Canal Company; Gentlemen: On behalf of your board of directors, I have the houor to submit the following report of the condition of the affairs of the com¬ pany for the fiscal year which ended on the 30th of September past: Table A.—Finance. Table B.—Receipts, inward and outward. Table C.—Number and class of vessels passing through. Repairs and improvements. My report for 1872 calls attention to the condition of the gates at Northwest locks. I found it absolutely necessary to build, and have placed in position, two sets of gates. Thoseat the Culpepper locks having entirely worn out, we also built a set of gates for that lock. Have built during the year three bridges; one over South Mills, to replace the ponton structure in temporary use, one over Deep Creek, and one over Gilmerton. The former bridges have been doing service for some twenty-five years, and were entirely worn out, and their replace¬ ment by new structures a necessity imperatively demanded. The road¬ bed is in very good condition, having been much improved the past twelve months, sweat-ditches completed, noticed in the last report, and the continuation of about one mile more will complete the same to the line of the canal. Dredging to some extent has been done, obstructions removed at the entrance to the work at Gilmerton, and at various other points. The dam across the Northwest Canal broke, and has been replaced by a new .and stronger work. This was attended with some cost, but was una* Yoidable. The work done upon the canal during the year has so improved the same that we do not hesitate to pronounce its condition an advance upon any term for the past twenty years. If the finances of the com¬ pany would permit, I would recommend the dredging of the canal for some twenty miles, removing about one and one-half feet from the bot- 30 DISMAL SWAMP CANAL. tom. The advantage in the increased revenue would soon be very ap¬ parent. One-half or more of a class of vessels navigating our canals would eagerly seek this avenue, that now hesitate in consequence of the draught of water; and in this connection you will pardon me for urg¬ ing upon you the further pressing of your application for relief to the next Congress of the United States. The government, as you are aware, owns eight hundred shares of stock, and the revenues having been ap¬ propriated as far as practicable to the improvement of the work, strengthens our claim for the aid asked. Before closing, I would call your attention to our present financial condition, inclusive of some of the items of Table A. To carry out the improvements necessary and ordered, we were com¬ pelled to incur some indebtedness, the balance of which, on the 30th of September, was $7,500. Our charge against funded debt interest- account and discount account shows $17,831.91. The annual coupon interest is $10,000, and this amount has been increased by the pay¬ ment of some coupons not presented at last report, discounts paid to banks, and the further payment of some $1,000 left as an incumbrance by the former president. The improvements have cost nearly $7,500. I estimate that $1,000 will be sufficient for this branch during the year. The revenue of the company evidenced an improvement in the last report of GO per cent., and shows an improvement of 10 per cent, for this year. I hope a con¬ tinued improvement (unless affected by the financial condition of the country). This improvement must be decided, however, to enable us to meet the floating debt incurred for the improvements mentioned, pay the annual charges for management, and the regular coupon interest to the bond¬ holders. All of which is respectfully submitted. W. B. ROGERS, President. Table A.— Finance. This table exhibits the condition of the books prior to and after balance for the year ending the 30th of September, 1873. Condition of the books prior to balance. Cost of property. $486,000 00 Enlargement and repairs.... 102,660 68 Profit and loss account. 127,028 42 Salaries general officers. 1,783 33 Office expenses. 338 90 Law fees.. 135 00 Funded debt interest and dis¬ count... 17,83191 Canal tolls.. 2,356 00 Cash account. 219 89 738,354 13 Capital stock.$486,000 00 Bills payable, old account... 21,811 77 Bills payable, new account.. 7,500 00 First-mortgage bonds. 200, 000 00 L. S. Edwards. 888 90 Revenue account. 22, 153 46 738,354 13 Condition of books after balance , September 30, 1873. Cost of property. $486,000 00 Enlargement and repairs.... 102,660 (58 Profit and loss account. 127,320 10 Cash account. 219 89 Capital stock..$486,000 00 Bills payable, old account ... 21, 811 77 Bills payable, new account.. 7,500 00 First-mortgage bonds. 200,000 00 L. S. Edwards. 888 90 716,200 67 716,200 67 DISMAL SWAMP CANAL, 31 Table B. Receipts of the Dismal Swamp Canal and Road for the year endinq Sep¬ tember 30,1873. INWARD OR NORTH TOLLS. Apples. 60 Meal. 1,911 Bacon. 42,466 Oats. 870 Buoys.. 20 Potatoes. 2,524 Corn. 186,337 Pease. 2, 373 Cotton. 2,168 Posts. .M.. 8,950 Chickens. .M.. 25,158 Paving. 1,028 Cattle. 404 Piling. 34,936 Empty barrels_ 547 Rails. .M.. 188,680 Eggs. 78, 000 Rags. 36,800 Fish. 4, 590 Reeds. 651 Hides. 590 Sheep . 131 Hogs. 433 Shad. 12,000 Iron . .lbs.. 8,890 Shingles.. .M.. 1, ,914,665 Irons. 87 Staves. .M.. 153,250 Knees. 90 Shucks . 12 Lumber. .M-. 180,000 Telegraph-poles... 157 Last-blocks. 730 Ties. .M.. 163,923 Logs, coopers’_ 8,685 Timber. 24,633 Logs, holly.. 338 Wood. 4,718 Melons. .........M.. 3,000 Wheat. . . 4,223 Inward passengers, 3,860. OUTWARD OR SOUTH TOLLS. Apples.barrels.. 60 Bricks:.M.. 5,000 Butter.kegs.. 75 Baskets.dozen.. 60 Buckets.dozen.. 45 Bagging.rolls.. '300 Bacon. pounds.. 30,000 Bedsteads. 144 Brooms.dozen.. 60 Carriages. 16 Cakes.barrels.. 82 Coal.tons.. 300 Coffee.sacks.. 300 Cheese ..boxes.. 360 Crockery.crates.. 36 Candy.boxes.. 60 Corn.bushels.. 1,350 Chairs.dozen.. 36 Flour.barrels.. 6,225 Fish.barrels.. 172 Hay.bales.. 68 Lime.barrels.. 1,200 Lard.tubs.. 60 Outward passengers, 3,625. Molasses.#... 525 Merchandise. 10, 800 Nails. 225 Oil. 196 Pork. 825 Plows.. 425 Paper. 82 Potatoes . 325 Rope. 38 Sugar . 300 Spirits.. 340 Salt. 6, 025 Snuff. 220 Shot. 110 Shoes. 600 Salt. 6,225 Soap, &c. 3,600 Stoves. 62 Tobacco. 950 Tables. 18 Tar. 125 Vinegar. 8 Wine. 3 S. W. GARY, Collector. 32 DISMAL SWAMP CANAL. Table 0. Report of the number and class of vessels passing through the Dismal Swamp Canal for the year ending September 30, 1873. Year and month. Steamers. Schooners. Sloops. Boats. Lighters. Rafts. Total. October 1872 . 16 18 1 11 90 136 November, 1872. 48 44 4 6 127 4 233 December 1872 40 30 2 109 181 January, 1873. 51 34 10 9 134 1 239 February, 1873 . 46 33 5 7 120 1 212 March, 1873.. 48 18 7 7 139 1 220 April, 1873 . 52 31 13 18 110 1 225 May, 1873 . 53 36 4 13 128 1 235 •Tune, 1873_____ 50 31 6 7 94 188 July, 1873 . 58 32 10 5 90 3 198 August, 1873 . 49 19 1 5 108 7 189 : September, 1873 ..... 34 30 7 92 3 163 Total. 545 356 63 95 1,341 22 2, 422 North. 272 182 30 60 1,189 22 7/755 Son t,h........ 273 174 33 35 152 667 S. W. GARY, Collector. Annual report of the president and directors to the stockholders of the Dismal Swamp Canal Company for the fiscal year ending September 39, 1874. REPORT OF EXAMINING COMMITTEE. To the stockholders of the Dismal Swamp Canal Company: Gentlemen : We have the honor to report that, in accordance with the customary requirement, we have, as far as practicable, made an ex¬ amination of your canal, and have found it in good working order, with the exception of an unprecedentedly low state of the water, owing to the long-protracted drought. The president has lately taken advantage of the low water to clean out all the bars and obstructions in the Gil- merton section of the canal at very small cost. You are well aware that want of funds prevents the prosecution of many improvements which your energetic president has in view. The books and vouchers for the past year have been examined, and we find them in all respects correct. All of which is respectfully submitted by your obedient servants, B. P. LOYALL, W. C. MARROW, GEO. NEWTON. Norfolk, November 2, 1874. president’s report. Office Dismal Swamp Canal Company, Norfolk , Fa., November 2, 1874. To the stockholders of the Dismal Swamp Canal Company: Gentlemen : On behalf of your board of directors, I have the honor DISMAL SWAMP CANAL. 33 to submit the following report of the condition of the affairs of the com¬ pany for the fiscal year which ended on the 30th September past: Table A.—Finance. Table B.—Receipts inward and outward. Table C.—Number and class of vessels passing through the canal. Repairs and improvements . Since the opening of the Turner Cut at intervals during the prevalence of westwardly winds, the depth of water is affected to a greater or less extent, which somewhat interferes with navigation. I have therefore caused the obstructions in the Moecassiri Track (the natural channel formerly used) to be removed, rendering the same now navigable, which will meet the difficulty. Lochs and gates at South Mills. The locks are in good condition. The gates have all been made new with the exception of the middle set. I recommend their replacement with new work as early as possible. This level is in good condition. Several breaks have occurred during the year on the road-bank, which has been raised and repaired. Culpeper lochs. The locks and gates are in good condition ; the gates having recently been made new. The road, also, bordering this level is in good order. The waste-way at Culpeper having burst up some years ago will neces¬ sitate a tumbling dam, which I recommend to be placed about half a mile uorth of the lock. The expense of this construction will be very small. Northwest lochs. The locks and gates are in good order, and the level, also, in fair con¬ dition. The excessive wet weather in the early part of the season oc¬ casioned several overflows of the road-bank, which compelled the rais¬ ing of the road-bank at various points. To obviate the difficulty in the future, I recommend gates at the dam at Northwest Canal, and the re¬ moval of some obstructions at Manning’s Lock, in said canal, to waste through when under any unusual pressure of water. Lochs at Deep Creeh. Since the repairs (by bracing) of these locks they have remained in very good order. The gates are all new, with the exception of the upper or south gates; and their condition is such that I recommend new gates as early as practicable. The road-banks on the level are in good condition. I would here remark that I have repaired the gates at the lake, and for the first time in many years they are wide open. The ex¬ traordinary dry spell of the past two months has so reduced the water as to place it on a level with the canal. H. Ex. 19-3 34 DISMAL SWAMP CANAL. Dam over Deep Greeli. This dam I consider of imperfect construction, the foundation being defective. Two breaks have occurred the past year, attended with con¬ siderable expense. As early as the revenues of the company will per¬ mit, I recommend sheet-piling across the inside of the masonry, which will effectually secure the work for the future. Gilmer ton level. This level has been cut through a continuous sand ridge for some two aniles, and sand-bars are continually forming from the washing, &c. Navigation is now very difficult, which difficulty is increased by the leak •at the dam reducing the water. It is important that this level be dug out and the bars removed at once. A reference to my last report will show an indebtedness then reported of $7,500, About $500, also, was theu due, but unaudited. During the year we have paid the debt in full; but I am compelled to report that we have passed the July coupon-interest of $8,000 and owe bills payable of $500. Various causes have contributed to this result. At the conclusion of my last report I stated that the financial status of the country might affect us, and our revenue must show a decided increase to prevent such results. Our trade is principally local, and the lumber interest furnishes the bulk of the revenue. This interest more than any other has been affected by monetary difficulties, and hence its decided effects upon our revenue. It will be remembered that at the commence¬ ment of our administration the revenue was only some $13,000. This we advanced to $20,000; thence to $22,500. It was reasonable to have expected an increase of ten per cent., unless controlled by causes men¬ tioned in this connection ; but, on the contrary, there is an actual de¬ cline of about $5,500 during the year. But for this we should have met •our July interest without difficulty. Since our administration we have expended upon the work some $22,000, and have paid the bondholders -'$40,000 interest. The interests of both bondholders and stockholders have been carefully guarded. I urged upon you at our last meeting the importance of pressing our claims upon the attention of Congress. It is well known, however, that the entire body was seized with a fit of -economy early in the session, and which became chronic ere its close. Surely, though, a work of this character, with the government as stock- holder'two-fifths of $ 1,500,000, will not be permitted to languish. I would therefore respectfully urge you to have our claims properly presented at this session of the Congress of the United States. We must have ithe work of width and depth continued to completion, which will afford ample revenue, or we must have a largely increased revenue under pres¬ ent navigable capacity to insure a successful working of the company for the future. All of which is respectfully submitted. W. B. ROGERS, President. DISMAL SWAMP CANAL. 35 Table A.—Finance. This table exhibits the condition of the books prior to and after bal¬ ance for the year ending September 30, 1874. Condition of the boohs prior to balance. Cost of property, charged... $486,000 00 Entire cost of property.$1,500, 000 Stock only issued for . 486,000 Profit and loss account. 127,320 10 Law-fees and taxes. 320 44 Discount-account. 534 73 General repair account. 1,625 04 Funded debt interest account 8,000 00 Enlargement and repair ac¬ count . 99,480 16 General expense account .... 5,673 45 Cash account. 209 29 729,163 21 Capital stock. Bills payable ante helium Bills payable, new. First-mortgage bonds. Leroy S. Edwards. Kevenue account. |486,000 00 21,811 77 500 00 200, 000 00 888 90 19,962 54 729,163 21 Condition of. boohs after balance September 30, 1874. Cost of property. $486, 000 00 Profit and loss account. 121, 886 18 Enlargement and repairs.... 101,105 20 Cash account. 209 29 709,200 67 Capital stock.$486, 000 00 Bills payable, old account... 21,811 77 Bills payable, new. 500 00 First-mortgage bonds. 200, 000 00 Leroy S. Edwards. 888 90 709,200 67 JOHN E. DOYLE, Treasurer. Inward receipts through Dismal Swamp Canal for the fiscal gear ending September 30, 1874. 36 DISMAL SWAMP CANAL •e.iaSuossBj | c W(M CO CJ CO ‘O h*« lO t- —- iO »C -r —< 1- tC O ‘O 35 O'. »- ”F th d CC i • • • | i i q o O O 1 O * i • * • • lO fOtO 'iO • • « • • 7 • CO t-h 04 00 ■ t- • • . • o o C5 of 04 •sScq spjoo if } u 3 rr r v»4 M — wJ Oi o *o go d d >o d at a co 10 ^ co oio^coiccoicic^ric GO CO iff •jB9qA\ spaqatig; o o ood o . • tt 1 O • j>OOQ • • • * • nr CO • iQ CO h H • i i i i r-T • ... 04 CO 04 iff •asBod 8{aqsng GO d - O GO O .GO— . iO C4 — O 1C — 04 • rH -f • .CO H H Cl 00 H • 'GO • • T-T ... ro o co' •pOOAV spjoQ r— lO CO - T d D T D D io rH ro I s * ocdc; oichouco t: o a « 35 • 8 .l 93 a 088 BJ O VO —* Cl Cl Cl ^ONOt-O- c 0 rr co ci drHrTdClCOrHrHCl 1,814 •uooBq epunoj 000 O O TT co rr ao rr~ ID r-T OOOOOOOOO I OOOOOOOOO CO l'* 00 C" CO GO H O rr iH rH CO i-H ©I r*« | 3 Cl CO • 89869 .ld UO^OQ rH r-» nr •poo euox OCG r- 00 co dCOOOCOCOvOrHdd « qto 8[9 jjb3 CO CO co co rr CO 35 d ® 05 rH CO 05 Cl I rH CO CO d CO i'- rH Cl t— 0 •Aeq S9JB3 coo^t O 'T rH • • vo t » ^ • • O vO • I •fHp* • 1 co co «• •991 8 H 0 X • • ■ Cl 1 T 5 .. • 1 • • tt to . Cl CO i rH ) eioqeng 000 0 0 vQ 00 CO cfcf O'JLOoooioeovio coco»oooocicir^ rr 0 d 0 00 co 0 0 00 rH CO~ C* r-T 00 —4 ! •jpe sqoBg w ,N O COhp y—* t—> CO O - T- 5 kO rr Ci S io CO rH ^ H rH •rr l- O cT •ouBiiif saox O »0 0 CO 0 VO 05 Cl CO VO ® ® 35 rr Cl CO ** t-T r-T r-T S 5- " : •oooBqo^ 80x03 Cl rr d t r: -1 n Cl »0 O O •v (O C 5 00 C 5 Ob’t 00 »-4 <" 00 r- • 07 p < 89[pU'B0 ‘dBOS 89 X 03 OIOD — rc i- 05 rf Cl Cl O — 05 Cl O or-dcicooo^voco Cl—»COdCOCIrHHH GO rr Cl co" •o^> ‘s^Bq Boxog 5 cc do rH T W iQ vU - ^ CO Cl T-< •^r X/ w O rH rH rr rT vO *99jqoo 8*B3 CO CO CO -T CO CO O—'T-HTr — '-TO* 00 Cl VO ^ CO Cl d vO O Cl :o VO rr •jBgns 819JIB3 0 ~ ro CO VO rr X 1- O X' C T Cl CICIvOCIcoOCItHCI 05 0 rr •squids st 9 xib 3 CO CO CO co rr vo CIOOOjOOCO^' X w ^-coo^cooeocir-t CO 05 VO •soesiqoni spjxeg. CO CO 0 CO VO CO ^ccoaoiocidcoo COCOrr^^OClrHCO 00 rr •qsp epaa^a O f'* TO d rr d 0 000 d GO T-H CO Cl rH rH rr r- rH •.mop spxiBS co 0 co rr co *0 ^rr-vo^foco^r-—< — COl'-OOCO'^CO OCOOO^rrOQrrCOVO 1- rr rr f . •J99q pUB .X9pp 8[9J.IV3 CO CO vO GO • xo Cl 0 • Cl r-1 t vO rr VO rH ! •qjod puB j99q spxiB 3 0 ^ c© i 00 t- JS t O CO Cl CO CO Cl 0 »c GO O CO Tf 10 rr r O t- ° O 00 •e.IOqOBJO puu 89qBD 8|9.IJB3 0 »o 00 VO rr T OOOOOCICOvOGO r— ' 0 Cl CO r-< -H CO rH CO Year and month. 1873 . October . Xovember. ... December - 1874 . January . February . March . A rir*i 1 4 : - 1r i4 u U *J • -. August . September ... Total . W. GABY, Collector 38 DISMAL SWAMP CANAL. Table C. Report of the number and clasu of vessels passed through the Dismal Swamp Canal for the fiscal year ending September 30, 1874. Year and month. Steamers. 00 i 1 o eg Sloops. Lighters. Boats. Rafts. Total. 1873. October. 49 46 i 6 96 4 2 203 November. 51 38 6 74 3 172 December. 49 36 . 16 87 3 2 193 1874. J anuary... 4f> 34 1 9 78 1 168 February. 38 25 1 3 90 2 1 159 War eh . . 35 22 : 4 84 3 148 April.;. 52 31 5 96 11 2 197 May. 34 37 3 95* 11 7 187 June. 29 25 4 74 2 134 July. 24 24 1 72 It 1 133 August. 25 22 79 1 3 130 September. 26 3 58 2 3 92 458 343 57 983 47 28 1, 916 North.. 235 173 36 857 24 28 1, 353 South. 223 170 21 126 23 563 Total. 458 343 j 57 983 47 28 1,916 Norfolk, Va., September 30,1874. S. W. GARY, Collector. Annual report of -the president and directors to the stockholders of the Dismal Swamp Canal Company for the fiscal year ending September 30, 1875. REPORT OF EXAMINING COMMITTEE. To the stockholders of the Dismal Swamp Canal Company: Gentlemen : We Lave the honor to report that the canal is in good, navigable condition. Some improvements are necessary, and would have been made but for the restrictions upon the president and the financial status of the company. The books and vouchers for the past year, from the 1st October, 1874, to 30th September, 1875, have been examined, and we find them in all respects correct. All of which is respectfully submitted by your obedient servants, W. 0. MARROW. B. P. LOYALL. Y. BURRUSS. president’s report. Office Dismal Swamp Canal Company, Norfolk , Va ., November 1 , 1874. To the stockholders of the Dismal Swamp Canal Company : Gentlemen : On behalf of your board of directors, I have the honor to submit the following report of the condition of the affairs of the company for the fiscal year which ended on the 30th September last. Table A.—Finance. Table B.—Receipts inward and outward. DISMAL SWAMP CANAL. 89 1 Table C.—Number and class Of vessels passing through the canal. I would respectfully refer you to the following report made by me do an adjourned meeting of the stockholders on the 19 th March last: Office Dismal Swamp Canal Company, Norfolk, Va , March 19, 1875- To the directors of the Dismal Swamp Canal Company: Gentlemen: I have convened you at this important juncture of the affairs of the* canal company to submit an inquiry from Messrs. Brown, Lancaster A: Co., bankers,, of Baltimore, Md. (representing the bondholders of that city). This inquiry is addressed to Col. C. W. Newton, one of the trustees, and by him re¬ ferred to me for reply. That your consideration of the subject-matter embraced in this communication may be lull and decided, I would respectfully call your attention to the conclusion of my report to 30th September, 1873. The revenue for that year reaching $22,153.46, which reads thus: “The year 1872' evidenced an improvement of 60 percent.; 1873 only 10 per cent. 1 hope a continued improvement for the future, unless affected by the financial condition of the country.. This improvement must be decided, however, to enable us to meet the floating debt incurred for the improvements mentioned, pay the annual charges for management,, and the regular coupon-interest to the bondholders.” Again, my report to the stockholders to September 30, 1874 (made November *2,. 1874), says: “A reference to my last report will show an indebtedness of $7,500, and. about $500 additional unaudited.” During the year we have paid this debt of $8,000, but I am compelled to report that we have passed the July coupon-interest of $8,000, and owe in addition $500 bills payable. Various causes have contributed to this result. At the conclusion of my last report I stated that the financial status of the country might atfect us ; and our revenue must show a decided increase to prevent worse results. Our trade is principally local, and lumber furnishes the bulk of the revenue. This interest, more than any other, has suffered injuriously by monetary difficulties, and hence its decided effect upon our revenue. It will be remembered that at the commencement of our administration the revenue was only some $13,000. This we advanced to $20,000, thence to $22,500. It was reason¬ able to have expected an increase of 10 per cent., unless controlled by causes mentioned in this connection ; but, on the contrary, there is an actual decline of about $5,500 during the year ; otherwise we should have met our July interest without difficulty. The interests of both bondholders and stockholders have been carefully guarded. 1 urged upon you at our last meeting the importance of pressing our claims upon the attention of Cougress. It is well known, however, that early in the session that body was seized with a fit of economy which became chronic ere its close. Surely, though, a work of this character, with the government a stockholder (two-fifths of $1,500,000), will not be permitted to languish. I would therefore respectfully urge you to have your claims properly presented at this session of the Congress of the United States. We must have the work of width and depth continued to completion, which will afford ample revenue; or we must have a largely increased revenue, under present navigable capacity, to insure a successful working of the compauy for the future. Referring to the Gilmerton level, I used this language: “This level has been cut through a continuous sand ridge for some two miles, and sand bars are continually forming from the washing, &c. Navigation is now very difficult, and the trouble is increased by the leak at the dam reducing the water.” It is important that the level be dug out and the bars be removed immediately. I have referred to these reports for a more intelligible understanding of our present condition. A short time after our adjournment, I was compelled to build a new dam across the basin of Deep Creek, or lose to the company a work which had cost some $20,000. This dam was built, and the Gilmerton level cleaned out at a cost of about $2,000. The revenue of the company for the past five months has decreased about $1,000 a month,, or, say, $5,000. Had we maintained the business of 1874, we could have paid at this time the July coupons to the bondholders. I yet hope that the revenue for the next three months will enable me to meet the July interest. You are fully capable, gentlemen, of forming a correct opinion as to the future of the company. A revenue of $25,000 will pay the annual general expenses, ordinary repairs, and $16,000 interest to the bondholders. 40 DISMAL SWAMP CANAL. I will thank you to embrace these facts in your reply to the inquiry herewith an¬ nexed. All of which is respectfully submitted. W. B. ROGERS, President Dismal Swamp Canal Company. The board being fully represented by W. B. Rogers, president, Hon. John B. White¬ head, Cicero Burruss, Dr. E. C. Robinson, Capt. D. S. Cherry, directors, the following preamble and resolution were unanimously adopted: “ Whereas the larger portion of the mortgage-bonds of the Dismal Swamp Canal Com¬ pany is owned in this city, and while the bondholders are anxious to receive tbe inter¬ est on their bonds regularly, yet it is the general opinion that the interest of all the bondholders would be promoted by not foreclosing the mortgage at this time: Be it “Resolved, That the above facts, as set forth in the report of the president of this board, be communicated to the bondholders, and, in addition, that all possible economy be exercised and no further improvements be made upon the work, aud only such re¬ pairs at intervals as may be demanded to maintain the same; and the net revenue be held with sole reference to the payment of the matured coupons. “JOHN E. DOYLE, Secretary” Note by the president. —The board of directors now have under consideration a proposition to the bondholders to fund the past-due coupons (inclusive of July) in 8 per cent, interest-bearing certificates, interest payable January and July; and the -coupons for which the certificates are issued to be held by a trustee for the ultimate redemption of said certificates, and promptly pay the next coupon-interest. In addition, we are assured, by able counsel, that we can prosecute successfully our memorial in the Court of Claims, or reasonably expect the relief asked for from the next Congress. In accordance with that report, the expenses were reduced at the in¬ stance of the bondholders to the extent indicated by them. Certificates were ordered to be issued for $24,000- past-due coupons. The same were issued to all the bondholders north of this point. Only seven of the Norfolk bondholders have received their certificates; the issue of the remainder awaiting the presentation of the number of the coupon and the amount of bonds held or owned by each. The interest was paid upon the past-due coupons to July 1, 1875. As you have perceived from the report alluded to, a largely increased revenue was essential to the proper maintenance aud welfare of the company. Subsequent events have only demonstrated the contrary. The general depression of the business of the country, affecting both land and water corporations, has not been confined to the canals of New' York (which have been subjected to a decrease of revenue of more than one-half—some $750,000—during the past year), but has left its impress also upon our work, reducing the revenue over one-half for the present year. As I have intimated to you in previous reports, with but slight exceptions we are confined to a local trade, which is principally lumber, and the extent that interest has suffered is of general information. Were we in condition to make certain improvements (notwithstanding the present condition of trade) our revenue could be increased fourfold. I allude here to the opening of the Northwest Canal, which would not involve more than $15,000 outlay, and would make tributary to us a large amount of trade that now finds a more difficult outlet through another canal. A permanent dam has been erected in this canal, which I think will have to be removed this winter to waste our surplus water, as we have no waste-way at Culpeper, and to waste through- the locks to Deep Creek will not be sufficient. As you are aware, the farms on the west side of the canal all drain into the same at or near this point, and the Northwest River is the natural drain east of the same. Hence the necessity, unless a waste-way is constructed at or near Culpeper locks. DISMAL SWAMP CANAL. 41 Repairs and improvements. Since the dredging of the Gilmertou level and the building of the new dam navigation was not interrupted until September, then iuduced by the long spell of dry weather, which reduced the water in the lake to the level of the canal, forcing a suspension for some three weeks. This could be obviated entirely by deepening the feeder about two feet, which would always furnish an abundant supply of water. Locks and gates at South Mills. The locks are iu very good condition. The upper gates are new, and the lower gates have been put in good order since my report recommending the same. The level is in good condition. Culpeper locks. The locks and gates are in good order, with the exception of a leak in the northern gate, which should be arrested as early as practicable. Northwest locks. The locks, gates, and level in fair condition. The road-bed at this point has somewhat suffered from water, but is being gradually im¬ proved. Dam over Deep Creek. The excessive fall of water during the past fall, which deluged the country north, south, east, and west, to some extent damaged the dam. The earth wipgs were carried away. This damage has been repaired, and at present we lose no water from leaks at this point. Gilmertou level. The dredging of this level last year has obviously improved the same, which has been navigated since without difficulty. The locks and gates are in good condition. At the risk of being considered egotistical, but under the pressure of duty to others, and without designing any reflection upon the action of those who preceded us in the management of the company, we must say that an expenditure of $75,000 (of the $200,000 for which this com¬ pany was bonded prior to our connection with it), in the deepening of this canal and feeder, without any other change in its capacity for car¬ riage of freight, would yielded a revenue yearly sufficient to have paid regular dividends to the stockholders (the government included), the interest upon the $75,000, and have created a sinking fund for the ulti¬ mate extinction of the debt in a reasonable time. Errors of judgment will attach to the wisest and best, and wisdom is the result only of stern and costly experience. In conclusion, permit me to add that we shall make good our promise to pay the interest on the certificates at January next. Whether our expressed expectation at our last meeting, to pay the January coupon, will be realized, depends upon the future revenue, which time can only determine. You will also permit me to say, further, that as the Government of the 42 DISMAL SWAMP CANAL. United States owns two-fifths of the work, costing over one and a half millions of dollars, we should again present our claims to the next Con¬ gress. Our friends give assurance of success the next session. I would suggest, at the conclusion of your business, that you adjourn r to the 10th day of January next, as the future destiny of this improve¬ ment, under its present organization, will be measurably determined by that time. All of which is respectfully submitted. W. B. KOGEKS, President, Table A.—Finance: This table exhibits the condition of the books prior to and after bal ance for the year ending September 30,1875. Condition of the boohs prior to balance. Cost of property, charged_$486,000 00 Entire cost of prop- Stock only issued for.1. 486,000 Profit and loss account. 121,886 18 lievenue account. 23 14 Law fees and taxes. 50 00 Interest account. 46 32 General-repair account. 3,156 83 Trustee interest account. 1,500 00 Funded-debt interest account. 742 20 Enlargement and repairs .... 101,105 20 General-expense account. 6,338 29 Cash account. 11,419 60 I Capital stock.$486,000 00 i Aute-belluni debt.. 21,81L 77 Cash account. 11,356 78 Mortgage bonds. 200,000 00 L. S. Edwards. 888 90 Revenue account. 11,210 31 731,267 76 731,267 76 Condition of the boohs after balance , September 30, 1875. Cost of property.$486,000 00 I Profit and loss account. 116, 875 82 Trustee interest account. 1,500 00 Enlargement and repair ac¬ count . 104,262 03 Cash account. 62 82 | 708,700 67 Capital stock.$486,000 00 Ante-bellum. 21,81177 Mortgage bonds. 200,000 00 L. S. Edwards.,. 888 90 708,700 67 JOHN E. DOYLE, Treasurer . 4 Inward receipts through the Dismal Swamp Canal for the fiscal gear ending 30 th September, 1S75. DISMAL SWAMP CANAL 43 •ejaSioesBj to • C* ^^OO^COCCOO) m • i- tt m to oo ** ci cm to rH» r—< r-H rH rH H H ri 1, 650 •joquiix 1 - to 1 - 1-0 1 O 00 O D h o r— i— co oo to ' oo t- o co co co h^rco hp co • cm co h ci oo t- cT^r-T CO* • CO lOO r-T " : 48, 084 •80[0 i * « i o • O O rfT • • • * • O • O C5 (M • • • ' 'W 'H . 20, 000 O o to pp~ i o 1 j •ujoo siaqsna O O 'O 00 C5 'M O f— O O O Qfj rH 1— OOOClOOClClPf 1-C5 0O C5CCOOO "-Pt- r-T cT oo" O Ift CO" o' Tp" r- rH rH m rH rH 3, 223 96,010 o i/; o r- <30 cm i-i CM CO CM 1-. 09 1,398 Year and month. 1874. October. November ... December 1875. January. February .... March. April. . . May. June. July. A n cm at, September... Total.... / Outward receipts through the Dismal Swamp Canal for the fiscal year ending September 30, 187;"). 44 DISMAL SWAMP CANAL. •e.taSuassBj CD -m QO(MOOOC^OCt^J*'<1 4 CO "00 r-1 • piHHHH T—1 rH rH 1,545 •nooeq epnnoj o • O OOOOOOOO^O o ■ o (i)ooooomoo t- .O t-115 (O QC in w f -0 0 Co" • ©f CO* nHH« CO 23, 470 '[BOO SUOJj 1C • 0 00tO0*4O'M(Mt'-COO5 ZO • CO 'T O H CO rH 461 •[tO 8[OJJB[[ otto (omctoxmtoaooi at i-l Mtoiirtn COHH 267 •^Bq SO[Bg; 0 TT GO •OCO(N^ •000 4'- QO HJ« • r-H rH • rH O rH —H CO ->r Hac®®iOO®o -h" »-T -t” ou to in r-T co" >—T *H T—1 60, 060 •OOp ‘9Ult[ 8q8B3 TT40CMt-QQCMO Tf< CO co Cl H Cl O rn qena; j O to O OOOOiOOOOO *0 1-0 10 0 0*0 CM O O O o CM CM 00 H^0ClGD(M0 77rr H rH CM *— 1 * O | to I 70 to¬ rn •uoji epnnoj OOO 0*00000 ooo o o t- or-ooor-ooo O-HO tOCMO^OOOOi-O ccT —r r-T to P- rH of •bSbi spanoj ‘ ooo OOO to O to ooo OOO OOOt-Oi-OOf'- C5 £- 77 CM'TtOCMO’T't'-TrrH to t— O) to* ' • O O ' o -ooo • O O • o • o o o •S0Ai?;g s ;°o . 10*000 • o' acT • of • oo to • • • r - 1 4,000 500 o ; o ° ; o' 10 i •B9[“uiqg • o • ooo • o • o • ooo • o • o • 0 0 0*0 • cf • CD of 1-“ • T*<~ • T-H * rl H H • O O CIP O o o to* to" rH O 1 O 1 o 1 S3 ! •.u»qrarq I93j; o»o • • o • o 0*0 • • o • o • O • • 00 • CO cf * rf • * • r-T rH • ... i 15,000 4, OOO o o rj* r-** CO "UJOO B[ 3 q«ll{I ooo ooooooooo ooo ooooooooo tcooo ooooooooo rH o“ cf CO o' of ~f cf cf r-T rH 1 H rlH o o o rf QO •s^sox O • LO .0*000 O • CM .0*000 to Cl o rf*" • 69 JO^S {BABU 8 [ 0 JJBa lO -h O ^*<70 *0*0 rH rH O • l- O CO CO CM •qsij s[OxiBg; ooo ooooooo *o .-lot- o n o co o o h io Cl CO r-H HCIO IO rH • rH r-T rf rH P* to rf •uoppoo soicg; O tO O 0 0 0*0000 IQP-C5 CM O 00 t- ^ rH ▼H rH • to • CO • • to 00 i- Tear and month. 1875. October.. November.. December. 1376. January . February . March. April. May.. •Tinift _ 1 > d ~ —•/ .- August. Sept mber. Total. H. Ex. 19-4 6 t* Pi < * wi o5 a co c3 fz5 Table B— Continued. Outward receipts through Dismal Swamp Canal for the fiscal year ending September 30, 1870. 50 DISMAL SWAMP CANAL. •BJ9§U9B8B«J | O O (M co 000*000010 1 00 -M O^riOCh'TOOM r-i H H H Ct M 71 tH h* CO rH •uooBq epuno j OOO OOOClOOOOO ooo mooooooocc IO CO O Cl t (N Oi *T. GO CM 00 O th r-T to rH of O* 1H O l'* ©T •896S9Jd-no5500' • • • . 0©t'-lO®JC'- ‘80{pUBD ‘(iBOS 89X03 n rH OCOt-W® nn 3, 312 1 •q-x) ‘oTPIT ft A X OCT *0 Ol CO O O LO CJ G ^ rf J y b 4 K H i-H ^HQOKH HOOH o r- o* •99jg:oo sSea ©ooo '9 , f-ioio©'^ — CM rH tH GO kiO •SJoqoBJO pUB 89qB0 8{9J.IB3 0 0*0 >o o ci co a cdo o co CO CO t'* (MCOrHHTCMr-iMt'-rH rH 542 £ <^> PS O vi » •fH DISMAL SWAMP CANAL, 51 Table C. Report of the number and class of vessels passed through the Dismal Swamp Canal for the fiscal year ending September 30, 1876. Year and month. Steamers. Schooners. Sloops. Lighters. Boats. 93 C3 Total. 1875. October . 18 16 1 40 2 l 78 November. 22 30 43 1 69 December. 21 14 7 56 1 99 1876. J anuary. 21 9 3 67 1 100 February. 21 14 4 77 1 5 122 March. . 28 35 6 80 3 3 ! 155 April. 34 37 8 96 8 7 190 May. 38 16 3 87 19 j 168 dun©.■. 48 4 4 39 2 2 99 J uly... 51 2 3 35 1 92 August. 50 4 20 2 76 September. 14 5 34 1 54 366 159 39 674 37 27 1,302 North. 167~ 101 26 587 21 24 926 South . 199 58 13 87 16 3 376 Total. 366 159 39 674 37 27 j 1,302 S. W. GARY, Collector. Exhibit D. [$200 internal-revenue stamp.] This deed, made the first day of July, eighteen hundred aud sixty - seven, between the Dismal Swamp Canal Company of the one part aud Jas. Coonich, Ciucinnatus W. Newton, Win. H. C. Ellis, of the other part: Whereas by the several acts of the general assemblies of the States of Virginia and North Carolina, the one passed on the 6th day of Decem¬ ber, 1866, and the other ratified on the 11th day of December, 1806, it was provided that it might and should be lawful for said company to issue coupon bonds bearing interest at the rate of eight per cent, per annum, the principal to be paid at such time and place as might be deemed by the company most expedient, and the interest to be paid semi-anuually at such place as might be determined on for the payment of the principal of such bonds, provided that the whole amount of bonds which should be issued under the said several acts shall not exceed the sum of two hundred thousand dollars; And whereas it was further provided by the said several acts that the said company shall be authorized to sell and dispose of the bonds author¬ ized by the several acts in such mode and on such terms as they might deem advisable, and to give such security for the p.unctual payment of the said bonds as they might deem expedient; And whereas in pursuance of the said several acts the said company have issued the several bonds of even date herewith for the sum of one thousand dollars each, numbered respectively from one to two hundred, inclusive, amounting in the aggregate to the sum of two hundred thou¬ sand dollars, payable twenty years from date thereof, at the National Park Bank of New York, bearing interest at the rate of eight per cent, per annum, payable semi-annually on the first day of January and July 52 DISMAL SWAMP CANAL. of every year, at the said National Park Bank of New York, the pay¬ ment of the principal and iuterest of which said several bonds as and when the same shall become due it is the desire and intention of the said company fully to secure to the purchasers or holders thereof: Now, therefore, this indenture wituesseth that for and in considera¬ tion of the premises, and the further consideration of the sura of five dollars, the receipt whereof is hereby acknowledged, the said Dismal Swamp Canal Company do grant, bargain, sell and convey, with general warrantee, unto the said das. Coonich, Cincinnatus W. Newton, and William H. C. Ellis, their heirs and assigns forever, all and singular the work of internal improvement, the property of said company, known as and called by the name of the Dismal Swamp Canal, with all and singu¬ lar the lands, the tenements, hereditaments, and appurtenances adjoin¬ ing, belonging to or connected with the said canal, or belonging to the said company, lying, situated, and being in the county of Norfolk, in the State of Virginia, and in the county of Camden, in the State of North Carolina. In trust to secure to the purchasers or liolders’of the said bonds the payment of the principal and interest thereof, as and when the same shall become due, according to the true intent and meaning of the said company as hereinbefore declared; and upon this further trust, that if at any time hereafter default in the payment of the principal and inter¬ est, or any part thereof, of the said several bonds shall be made, the said Jas. Coonich, Cincinnatus W. Newton, and William H. C. Ellis, trustees, heretofore named, shall, upon the request of any one or more of the holders of the said bonds so to do, sell either at public auction or at private sale for cash or on reasonable credit, as they may deem most expedient and conducive to the interest of the holders of the said bonds, after advertis¬ ing the said sale for three months in one or more uewspapers published in each of the cities of New York, Philadelphia, Baltimore, Washington, and Norfolk, and shall, out of the proceeds of such sale, pay to the sev¬ eral holders of the said bonds all accruing interest thereon, and shall so provide that the principal thereof shall be immediately paid or so secured that no default shall in future be made in the payment of the principal or interest of the said several bonds as and when the same shall become due, and the balance of such proceeds of sale, if any, shall pay to the said company or their assigns. In testimony whereof E. C. Robinson, the president, and Thos. B. AVest, the treasurer of the said company, by and with the consent of the board of directors of the said company, have hereunto set their hands and affixed the corporate seal of the said company, the day and year first above written. [seal] E. 0. ROBINSON, President. THOS. B. AVEST, Treasurer. State of Virginia, County of Norfolk, to wit: I, John T. Hall, a notary public for the city aforesaid, in the State of A 7 irginia, do certify that E. C. Robinson and Thomas B. West, whose names are signed to the writing above, bearing date on the 1st day of July, 1867, have acknowledged the same before me in the city aforesaid. Given under ray hand the 1st day of July, 1867. JOHN T. HALL, Notary Public. DISMAL SWAMP CANAL. OO In the clerk’s office-of Norfolk County court the 1st day of July, 1807, at 9.30 o’clock a. m. The foregoing deed of trust for the Dismal Swamp Canal Company to James Coonich, Cincinuatus W. Newton, and William H. C. Ellis, trustees, was admitted to record upon the certificate annexed of John T. Hall, a notary public in and for the city of Norfolk, State of Virginia, having the necessary two hundred dollars United States internal-revenue stamp annexed. Test: GRIFFIN T. EDWARDS, Clerk of Court. Recorded in deed book. From December 9, 18G5, to July 12, 1867. In Norfolk County court, at Portsmouth, Va. Exhibit E. This deed, made the tenth day of February, in the year eighteen hun¬ dred and sixty-nine, between the Dismal Swamp Canal Company, of the first part, and James Coonich, Cincinuatus W. Newton, and William II. C. Ellis, of the second part: Whereas, by deed bearing date the first day of July, 1867, of record in the clerk’s office of the county court of Norfolk, in the State of Vir¬ ginia, and in the office of the public register of the county of Camden, in the State of North Carolina, the said parties of the first part did grant, bargain, sell, and convey, with general warrantee, unto the said parties of the second part, all and singular all the work of internal im¬ provement, the property of the said parties of the first part, known as and called by the name of the Dismal Swamp Canal, with all and sin¬ gular the lands, tenement, hereditaments, franchise, privileges, and appurtenances adjoining, belonging to, or conveyed with the said canal, or belonging to the said company, by situation and being in the county of Norfolk, in the State of Virginia, and in the county of Camden, in the State of North Carolina, iu trust, to secure the purchasers anti holders of the bonds of said company executed by said company on the day of the date of the deed aforesaid the payment of the principal and interest of said bonds iu manner and form as by said deed declared; and whereas it is desired by the holders of such of said bonds as have been issued and by others who wish to become purchasers of said bonds for the said company that the deed aforesaid shall be so amended as that, in case of default in the payment of the interest or any part thereof of the said several bonds, it shall be imperative on the said trustees to pay, out of the proceeds of sale of said property, the principal as well as the interest of the said bonds to the holders thereof, without delay, and when it is manifest that the interest of said company will be pro¬ moted by such amendments: Now, therefore, this indenture witnesseth that if at any time herein¬ after default shall be made in the payment of the interest or any part thereof of any of the several bonds, the said trustees shall, and they hereby covenant that they will, make sale of all and singular the property and appurtenances iu said deed mentioned and described, for cash, after due advertisement thereof, as by said deed directed, and out of the proceeds of such sale, after the payment of the expenses of said trust, pay immedi¬ ately to the holders of said bonds both the principal and interest thereof, whether the said principal be then due or yet to become due, and in 54 DISMAL SWAMP CANAL. case of a deficiency to pay in full the whole amount due or owing on said bonds as aforesaid, they shall be paid ratably in proportion to the amount owing or unpaid upon the said bonds respectively, without pref¬ erence to the holder of any one bond over the other, and the balance of such proceeds of sale, if any, shall be paid to the said company, their successors or assigns, upon lawful demand being made therefor; and the said parties of the second part do hereby accept the trust by these presents conferred upon them; and the said parties of the first part, for themselves, their successors, and assigns, do hereby covenant and agree with said parties of the second part, and their successors in said trust, and with all persons and corporations who shall become holders of the bonds hereby secured or intended so to be, that the said parties of the first, their successors and assigns, shall and will, at any time, and from time to time hereafter, upon request made, do, execute, and deliver all such further and other acts, deeds, and things as shall be reasonably desired or required to effectuate the intention of these pres¬ ents, and to assume aud confirm to the said parties of the second part, and the survivor or survivors of them, or their successors, all and sin¬ gular the property and estate hereinbefore referred to, and to render the same available for the security and satisfaction of all and singular the said bonds according to the intent and purpose hereinbefore expressed. In witness whereof the said parties of the first part have hereunto affixed their corporate seals and caused these presents to be signed by Thomas I. Corprew, their president ; and the said parties of the second part have hereunto set their hands and seals, the day and year first above written. THOMAS I. CORPREW, President. JAMES COONICH. [SEAL.] CINCINNATUS W. NEWTON, (seal. WILLIAM H. C. ELLIS. [seal. State of Virginia, City of Norfolk, to wit: I, John C. Barker, a notary public for the State and city aforesaid, do certify that Thomas I. Corprew, James Coonich, Cincinnatus W. Newton, and William H. C. Ellis, whose names are signed to the writing hereto annexed, bearing date the 10th day of February, 1869, have acknowl¬ edged the same before me in the city aforesaid. Given under my hand this 16th dav ofFebruarv, 1S69. JOHN C. BAKER, Notary Public. In the clerk’s office of Norfolk County court the 17th day of Februarv, 1869. This deed was admitted to record upon the certificate of John C. Baker, a notary public in and for the city of Norfolk, State of Virginia. Teste: G. T. EDWARDS, C. C. Recorded deed-book from October 31, 1868, to November 20, 1.869, records Norfolk County court, at Portsmouth, Va. DISMAL SWAMP CANAL. 55 F. List of bondholders of the Dismal Swamp Canal Company. CO 11 3 3 3 3 2 4 27 15 10 8 7 10 5 15 5 3 5 2 1 1 2 3 24 2 2 2 1 5 3 1 2 8 1 1 Name of holder. Estate of W. W. Lamb... Andrew S. Martin.. George Newton. Florence Newton. Mary Newton. Courtney N. Newton.. Estate of J. C. Osgood_ Thomas C. Jenkins. Thomas Wilson. Douglas H. Gordon. Johns Hopkins Hospital.. Johns Hopkins University H. G. Anderdonk. Garrett R. Barney. J. W. Whitehurst estate.. Dr. Wm. Selden. R. Manson Smith, trustee. Wm. S. Camp. Miss Isabel Armstrong.... Miss Rebecca Armstrong . Miss Adelaide Armstrong. Miss Margaret Arbuckle.. Richard Dickson--- Burness, Son &, Co. Capt. H. H. Baker. Miss Sallie Tazewell. Miss Ella Tazewell. Miss M. Z. Waller..*. Franklin Savings-Bank. .. John Debree. C. B. Dufifield, trustee. John B. Whitehead. John D. Gordon &■ Co- Dr. J. L. Harmanson. Dr. W. A. Thorn. 200 Bonds of $1,000 each=$200,000. Residenco. Norfolk. Do. Do. Do. Do. Do. New York. Baltimore. Do. Baltimore. Do. New York. United States Navy. Norfolk. Do. Norfolk. Do. Do. Do. Eastern Shore, Virginia. Norfolk. Do. Norfolk. Do. Do. Do. Do. Do. Do. Do. Eastern Shore, Virginia. G. ACTS OF THE GENERAL ASSEMBLY OF VIRGINIA. OF THE GENERAL AS¬ SEMBLY OF NORTH CAROLINA, AND OF THE CONGRESS OF THE UNITED STATES, RESPECTING THE DISMAL SWAMP CANAL COMPANY. Acts of the general assembly respecting the Dismal Swamp'Canal Compan y Chap. I.—An act for cutting a navigable canal from the waters of Elizabeth River, in this State, to the waters of Pasquotank River, in the State of North Carolina . [Passed December 1, 1787.] 1. Whereas the cutting of a navigable canal from the waters of Eliza beth River, in this State, to the waters of Pasquotank River, in th e State of North Carolina, will be of great public utility, and many per¬ sons are willing to subscribe large sums of money to effect so beneficial a work, and it is just and proper that they, their heirs and assigns, should be empowered to receive reasonable tolls, forever, in satisfaction 56 DISMAL SWAMP CANAL for the money advanced by them in carrying the work into execution, and the risk they run : Therefore, Be it enacted by the general assembly of Virginia , That it shall and may be lawful to open books in the towns of Norfolk, Portsmouth, Suffolk, Petersburg, Richmond, York, Fredericksburg, and Alexandria, under the management of George Kelly, in Norfolk; of John Gowper, in Ports¬ mouth ; of Wells Gowper, in Suffolk; of Ghristopher McConnico, in Petersburg; of James Heron, in Richmond; of Thomas Nelson, in York; of William Lewis, in Fredericksburgh ; and of William Hartshorne, in Alexandria; and under the management of such persons and at such places in North Carolina as shall be appointed by that State, for receiv¬ ing and entering subscriptions to the amount of eighty thousand dollars for the said undertaking; which subscriptions shall be made personally or by power of attorney, and shall be in Spanish milled dollars, but may be paid in other silver or in gold coin of the same value. That the said books shall be opened for receiving subscriptions on the first day of May next, and continue open until the first day of September next inclusive; and, on the nineteenth day of the said month of September, there shall be a general meeting of the subscribers at Halifax, in the State of North Carolina, of which meeting notice shall be given by the said managers, or any three of them, in the gazettes of both the aforesaid States, at least one month next before the said meeting, and such meeting shall and may be continued from day to day until the business is finished. And the acting managers shall, at the time and place aforesaid, lay before such of the subscribers as shall meet according to the said notice the books by them respectively kept, containing the state of the said sub¬ scriptions; and if one-half of the capital sum aforesaid should on ex¬ amination appear not to have been subscribed, then the said managers are empowered to take and receive subscriptions to make up the defi¬ ciency ; and a just and true list of all the subscribers, with the sums subscribed by each, shall be made out and returned by the said man¬ agers, or any four or more of them, under their hands, into the general court of this State, and into such court as the State of North Garolina shall direct, to be there recorded. And in case more than eighty thou¬ sand dollars shall be subscribed, then the same shall be reduced to that sum by the said managers, or a majority of them, by beginning at and striking off from the largest subscription or subscriptions, and continu¬ ing to strike off a share from all subscriptions, under the largest and above one share, until the sum is reduced to the capital aforesaid, of eighty thousand dollars, or until a share is taken from all subscriptions above one share; and lots shall be drawn between subscribers of equal sums to determine the number in which such subscribers shall stand on a list to be made for striking off' as aforesaid; and if the sum subscribed still exceeds the capital aforesaid, then they shall strike off by the same rule until the sum subscribed is reduced to the capital aforesaid, or all the subscriptions are reduced to one share; and if there still be an excess, then lots shall be drawn to determine the subscribers who are to be excluded to reduce the subscriptions to the capital aforesaid; which striking off shall be certified in the list aforesaid, and the said capital sum shall be reckoned and divided into three hundred and twenty shares of two hundred and fifty dollars each, of wdiich every person subscribing may take and subscribe for one or more whole shares, and not otherwise. 2. Provided , That unless one-half of said capital shall be subscribed, all subscriptions made in consequence of this act shall be void ; and in case one-half and less than the w hole of the said capital shall be sub- DISMAL SWAMP CANAL. 57 scribed as aforesaid, then the president and directors are hereby em¬ powered and directed to take and receive the subscriptions which shall be first offered, in w^>le shares, as aforesaid, until the deficiency shall be made up; a certificate of which additional subscriptions shall be made under the hands of the president and directors, or a majority of them, for the time being, and returned to and recorded in the courts as aforesaid. 3. And be it enacted , That in case one-half of the said capital, or a greater sum, shall be subscribed as aforesaid, the said subscribers, and their heirs and assigns, from the time of the said first meeting, shall be, and are hereby declared to be, incorporated into a company, by the name of the “ Dismal Swamp Canal Company,” and may sue and be sued as such ; and such of the said subscribers as shall be present at the said meeting, or a majority of them, are hereby empowered and required to elect a president and four directors, for conducting the said undertaking and managing all the said company’s business and concerns, for and during such time, not exceeding three years, as the said subscribers, or a majority of them, shall think fit; and in counting the votes of all general meetings of the said company, each member shall be allowed one vote for every share, as far as ten shares, and one vote for every five shares above ten, by him or her held at the time in the said company; and any proprietor, by writing under his or her hand, executed before two witnesses, may depute any other member or proprietor to vote and act as proxy for him or her at any general meet¬ ing.* 4. And be it enacted , That the said president aud directors, so elected, and their successors, or a majority of them, assembled, shall have power and authority to agreq with any person or persons, on behalf of the said company, to cut the said canal and to erect such locks and perforin such other works as they shall judge necessary for the navigation of the said canal and carrying on the same from place to place and from time to time, aud upon such terms and in such manner as they shall think fit; and, out of the money arising from the subscriptions and tolls and other aids hereafter in this act given, to pay for the same and to repair and keep in order the said canal, locks, and other works necessary thereto, and to defray all incidental charges; and, also, to appoint a treasurer, clerk, and such other officers, toll-gatherers, managers, and servants as they shall judge requisite, and to agree for and settle their respective wages or allowances, and settle, pass, and sign their accounts; and, also, to make and establish rules of proceeding, and transact all the other business and concerns of the said company, in and during the intervals between the general meetings of the same; and they shall be allowed, as a satisfaction for their trouble therein, such sums of money as shall, by a general meeting of the subscribers, be determined. 5. Provided always , That the treasurer shall give bond, iu such pen¬ alty and with such security as the said president and directors, or a majority of them, shall direct, for the true and faithful discharge of the trust reposed in him, and that the allowance to be made to him for his services shall not exceed three pounds in the hundred, for the disburse¬ ments by him made, and that no officer in the said company shall have a vote in the settlement or passing of his own account. And be it enacted , That the said president and directors, and their successors, or a majority of them, shall have full power and authority, * Marked by the president of the company. —The present collector is not a stockholder, nor does he consider it necessary that he should be under the acts of Con¬ gress making subscriptions to the company. See page 14, top. 58 DISMAL SWAMP CANAL. from time to time, as money shall be wanting, to make and sign orders for that purpose, and direct at what time and in what proportion the proprietors shall advance and pay off the sums sub^pbed ; which orders shall be advertised at least one month in the North Carolina and Vir¬ ginia gazettes; and they are hereby authorized and empowered to de¬ mand and receive of the several proprietors, from time to time, the sums of money so ordered to be advanced for carrying on and executing, or repairing and keeping in order, the said works, until the sums sub¬ scribed shall be fully paid; and to order the said sums to be deposited in the hands of the treasurer, or be by him disbursed and laid out, as the said president and directors, or a majority of them, shall order and direct; and, if any of the said proprietors shall refuse or neglect to pay their said proportions, within one month after the same so ordered and advertised as aforesaid, the said president and directors, or a majority of them, may sell at auction and convey to the purchaser the share or shares of such proprietor so refusing or neglecting payment, giving at least one month’s notice of the sale in the North Carolina and Virginia gazettes; and, after retaining the sum due and charges of sale out of the money produced thereby, they shall refund and pay the overplus, if any, to the former owner; and, if such sale shall not produce the full sum ordered and directed to be advanced, as aforesaid, with the inci¬ dental charges, the said president and directors, or a majority of them, may, in the name of the company, sue for and recover the balance, by motion, on ten days’previous notice; and the said purchaser or pur¬ chasers shall be subject to the same rules and regulations as if the said sale and conveyance had been made by the original proprietor. 6. And, to continue the succession of the said president and directors, and to keep up the same number, Be it enacted , That, from time to time, on the expiration of the term for which the said president and directors were appointed, the proprietors of the said company, at the next gen¬ eral meetiug, shall either continue the said president and directors, or any of them, or shall choose others in their stead ; and, in case of the death, removal, resignation, or incapacity of the president or any of the directors, may and shall, in manner aforesaid, elect any other person or persons to be president and directors, in the room of him or them so flying, removing, resigning, or becomiug incapable of acting, and may, at any of their general meetings, remove the president or any of the directors and appoint others, for and during the remainder of the term for which such person or persons were at first to have acted. 7. Andbe it enacted , That every president and director, before he acts as such, shall take an oath or affirmation for the due execution of his office. 8*. And be it enacted , That the presence of proprietors having one hundred and eighty shares at least shall be necessary to constitute a general meeting, and that there be a general meeting of proprietors on the first Monday in September in every year, at such convenient town as shall, from time to time, be appointed by the said general meeting; but, if a sufficient number should not attend on that day, the proprie¬ tors who do attend may adjourn such meeting from day to day till a general meeting of proprietors shall be had, which may be continued trom day to day until the business of thp company is finished; to which meeting the president and directors shall make report, and render dis¬ tinct and just accounts of all their proceedings, and, on finding them fairly and justly stated, the proprietors then present, or a majority of them, shall give a certificate thereof, a duplicate of which shall be entered on the said company’s books ; and, at such yearly general meet- DISMAL SWAMP CANAL. 59 ings, after leaving in the hands of the treasurer such sum as the pro¬ prietors, or a majority of them, shall judge necessary for repairs and contingent charges, an equal dividend of all the net profits arising from the tolls hereby granted shall be ordered and made to the proprietors of the said company, in proportion to their several shares; and, on any emergency, in the interval between the said yearly meetings, the pres¬ ident, or a majority of the directors, may appoint a general meeting of the proprietors of the company, at any convenient town, giving at least one month’s previous notice in the North Carolina aud Virginia gazettes, which meeting may be adjourned and continued as aforesaid. 9. And be it f urther enacted., That, for and in consideration of the ex¬ penses the said proprietors will be at, not only in cutting the said canal, erecting locks, making causeways, and performing other works necessary for this navigation, but in maintaining and keeping the same in repair, the said canal, locks, causeways, and other works, with all their profits, shall be, and the same are hereby, vested in the said proprietors, their heirs and assigns forever, as tenants .in common in proportion to their respective shares; and the same shall be deemed real estate, and be forever exempt from the payment of any tax, imposition, or assessment whatsoever; and it shall and may be lawful for the said president and directors, at all times forever hereafter, to demand and receive at some convenient place near one of the extremities of the canal, for all com¬ modities transported through it, or over the causeways, tolls, according to the following table and rates, which shall be in Spanish milled dol¬ lars, to wit: Parts of a dollar. Every pipe or hogshead of wine containing more thau sixty-five gallons. ... 30 72nds. Every hogshead of rum or other spirits. 24 72nds. Every hogshead of tobacco. 24 72nds. Every hogshead of molasses. 18 72nds. Every butt or hogshead of malt-liquor. 18 72nds. Every cask between sixty-five and thirty-five gallons, one- half of a pipe or hogshead; every barrel, one-fourth part; aud every smaller cask or keg, in proportion, according to the quantity aud quality of their contents .. 18 72nds. Every dozen of bottled wine. 5 288ths. Every dozen of bottled malt-liquor. 4 288ths. Every bushel of wheat, pease, beans, rice, or fiax-seed- 3 2S8ths. Every bushel of Indian corn, or other grain or salt. 2 288ths. Every barrel of pork .. 0 72uds. Every barrel of beef. 4 72nds. Every barrel of fish or Hour. 3 72nds. Every barrel of tar, pitch, turpentine, or rosin. 2 72nds. Every cask of linseed-oil, or spirits of turpentine, the same as molasses.. .. : . - 2 72nds. Every ton of hemp, flax, potash, or bar-iron. ... 3fl 72nds. Every ton of pig-iron or castings . 12 72nds. Every ton of copper, lead, or other ore, other than iron- ore.‘.. 30 72nds. Every ton of stone or iron-ore, other than the ballast of the vessel. 6 ?2nds. Every chaldron of coals. - . 3 72nds. Every hundred bushels of lime or of shells . 20 72nds. Every thousand of bricks or tiles. 30 72nds. Every hundred of pipe staves. . 0 72nds. 60 DISMAL SWAMP CANAL. Every hundred of hogshead staves, or pipe or hogshead heading .... Every hundred of barrel-staves or barrel-heading. Every thousand shingles, from eighteen to twenty-four inches... Every thousand of three feet shingles . Every thousand clapboards or pales. Every cord of fire-wood... Every hundred cubic feet of plank, or scantling. Every hundred cubic feet of all other timber. Every hundred pounds of brown or clayed sugar. All other produce, goods, wares, or merchandise, one-fourth per centum... Every boat or vessel exceeding oue ton burthen, which has not commodities on board to yield so much (except an empty boat or vessel returning, whose load has already paid the toll, in which case she is to repass free of toll) Every canoe, boat, or vessel, under one ton burthen, which has not commodities on board to yield so much (except as in the preceding article excepted). . Every man (except foot travellers, who shall pass toll free), horse, ox in draught, and wheel passing the causeways (except the loads they carry yield so much, or empty wagons or carts returning, whose loads have paid the toll). Every head of black cattle.... Every hog. ... Every sheep. ... Every hundred-weight of indigo. 4 72nds. 3 72nds. 3 72uds. 0 72nds. 9 72nds. 12 72uds. 40 72uds. 30 72nds 3 72nds. 3 72nds. 40 72nds. 18 72uds. 0 72uds. 3 72nds. 1 72nd. 2 288ths. 12 72nds. 10. All produce, goods, wares, or merchandise, passing the causeways, shall be subject to the same toll as goods passing through the canal, but which tolls, though chargeable in Spanish milled dollars, may be paid in other silver, or in gold coin of the same value. And, in case of re¬ fusal to pay the tolls at the time of offering to pass the place aforesaid, and previous to passing the same, the collector of the said tolls may lawfully refuse passage to whatever refuses payment; and if any ves¬ sel, wagon, or cart shall pass without paying the toll, then the said collector may seize such vessel, wagon, or cart, wherever found, and sell the same at auction for ready money, which, so far as is necessary, shall be applied towards paying the said toll, and all expenses of seizure and sale, and the balance, if any, shall be paid to the owner; and the per¬ son having the direction of such vessel, wagon, or cart shall be liable for such toll, if the same is not paid by the sale as aforesaid : Provided , That the said proprietors, or a majority of them, holding at least one hundred and eighty shares, shall have full power and authority, at any general meeting, to lessen the said tolls, or any of them, or to deter¬ mine that any article may pass free of toll. 11. And be it enacted ,That the said canal and works, to be erected thereon in virtue of this act, and the causeways, when completed, shall forever hereafter be esteemed and taken as public highways, free for the transportation of all goods, wares, commodities, or produce what¬ soever, and for traveling, on payment of the tolls imposed by this act; and no other toll or tax whatever, for the use of the water of the said canal and the works thereon erected, or the causeways, shall at any time hereafter be imposed by both or either of the said States ; subject, DISMAL SWAMP CANAL. 61 nevertheless, to such regulations as the legislature of the said States may concur in, to prevent the importation of prohibited goods, or to prevent fraud in evading the payment of duties imposed in both or either of the said States on goods imported into either of them. 12. And whereas it is necessary for the making of the said canal, locks, causeways, and other works, that a provision should be made for condemning a quantity of land for the purpose : 13. Be it enacted , That it shall and may be lawful for the said presi¬ dent and directors, or a majority of them, to agree with the owners of any land, through which the said canal is intended to pass, for the pur¬ chase thereof, and in case of disagreement, or in case the owner thereof shall be a feme covert , under age, non compos , or out of the State, on ap¬ plication to any two justices of the county in w hich such land shall lie, the said justices shall issue their warrant, under their hands to the sheriff of their county, to summon a jury of eighteen inhabitants of the county, of property and reputation, not related to the parties, nor in any manner interested, to meet on the land to be valued, at a day to be expressed in the warrant, not less than ten nor more than twenty days thereafter; and the sheriff, on receiving the said warrant, shall forth¬ with summon the said jury, and, when met, provided that not less than twelve do appear, shall administer an oath or affirmation to every jury¬ man that shall appear, “That he will fairly, justly, and impartially value the land (not exceeding the width of three hundred feet), and all dam¬ ages the owner thereof shall sustain by cutting the canal through such land, according to the best of his skill and judgment; and that, in such valuation, he will not spare any person through favor or affection, nor any person grieve through malice, hatred, or ill-will.” And the inquisi¬ tion thereon taken shall be signed by the sheriff and some twelve or more of the jury and returned bv the sheriff to the clerk of his county, to be by him recorded, and on every such valuation the jury is hereby directed to describe and ascertain the bounds of the land by them val¬ ued, and their valuation shall be conclusive on all persons, and shall be paid by the said president and directors to the owner of the land, or his legal representatives, and on payment thereof the said company shall be seized in fee of such laud, as if conveyed by the owner to them and their successors by legal conveyance. 14. Provided , nevertheless , That if any further damage shall arise to .any proprietor of land, in consequence of opening such canal or in erect¬ ing such works, than had been before considered and valued, it shall and may be lawful for such proprietor, as often as any such new damage shall happen, by application to and a warrant from any two justices of the county where the lands lie, to have such further damage valued by a jury in like manner, and to receive and recover the same of the said president and directors. But nothing herein shall be taken or construed to entitle the proprietor of any such land to recover compensation for any damages which may happen to any mills, or other works, or im¬ provements which shall be begun or erected by such proprietor after such first valuation, unless the said damage is willfully or maliciously done by the said president and directors, or some person by their au¬ thority. 15. And he it enacted , That the said president and directors, or a ma¬ jority of them, are hereby authorized to agree with the proprietor or proprietors for the purchase of a quantity of laud not exceeding one acre, at or near the place of the receipt of tolls aforesaid, for the purpose of erecting necessary buildings, and, in case of disagreement, or any of the •disabilities aforesaid, or the proprietor being out of the State, then such 62 DISMAL SWAMP CANAL. land may be valued, condemned, and paid for as aforesaid, and the said company shall, on payment of the valuation of the said land, be seized thereof in fee-simple as aforesaid. 16. And whereas it is represented that the waters of the lake in the Dismal Swamp, commonly called Drummond’s Pond, may be useful for a supply of water to the said canal: 17. Be it enacted , That the said lake, so far as the waters thereof shall be necessary for the purpose aforesaid, shall be, and is hereby, vested in the proprietors of the said canal, and it shall and may be lawful for the said president and directors, or a majority of them, to open, if they shall find it expedient, a cross canal from the lake to the principal canal, for the pur¬ pose of drawing from thence a supply of water; and for executing this w r ork and keeping it in repair, they shall have the same powers which they are authorized to exercise in opening the principal canal. And it shall not be lawful for any person whatsoever so to cut off or divert the courses of those waters which now flow from the westward into the said lake as to prevent their continuing to fall into it. 18. And whereas some of the places through which it may be neces¬ sary to conduct the said canals may be convenient for erecting mills and other water works, and the persons possessors of such situations may design to improve the same, and it is not the intention of this act to interfere with private property but for the purpose of improving and perfecting the said navigation. 19. Be it enacted , That the water, or any part thereof, conveyed through the said canals, shall not be used for any purpose but navigation, unless there shall be sufficient to answer both the purposes of navigation and water works aforesaid, in which case the said president and directors, or a majority of them, are hereby empowered and directed to enter into reasonable agreements with the proprietors of such situations concern¬ ing the just proportion of the expenses of making the canals capable ot carrying such quantities of water as may be sufficient for the purposes of navigation, and also for any such water works as aforesaid. 20. And whereas the said canals may be of great utility in affording the means of draining the sunken lauds through which they pass: 21. Be it enacted , That it shall and may be lawful for the proprietors of the said adjacent sunken lands to open cross-ditches into the said canals: Provided , That these cross-ditches shall not be within less than one mile of one another on the same side of the canals, and be covered, where they pass through the causeways, with good bridges, of the breadth of the causeways, at the expense of the persons cutting them, and also be so constructed that the water may be entirely prevented passing through them into the canals at any time when this shall be necessary. And the works occasioned by these cross-ditches, except the bridges, shall be kept in repair at the expense of their proprietors. 22. And be it enacted , That it shall and may be lawful for every of the said proprietors to transfer his share or shares, by deed executed before two witnesses, and registered, after proof of the execution thereof, in the said company’s books, and not otherwise, except by devise, which devise shall also be exhibited to the president and directors, and regis¬ tered in the company’s books before the devisee or devisees shall be entitled to draw any part of the profits from the said tolls: Provided, That no transfer whatsoever shall be made, except for one or more whole share or shares, and not for part of such shares, and that no share shall at any time be sold, couveyed, transferred, or held in trust for the use and benefit or in the name of another, whereby the said president and directors, or proprietors of the said company, or any of them, shall or DISMAL SWAMP CANAL. 63 may be challenged or made to answer concerning any sncli trust $ but that every such person, appearing as aforesaid to be a proprietor, shall, as to the others of the said company, be to every intent taken absolutely as such ; but between any trustee and the person for whose benefit any trust shall be created, the common remedy may be pursued. 23. And whereas it hath been represented that sundry persons are willing aud desirous, on account of the public advantage, and also the improvement their estates may receive thereby, to promote and contrib¬ ute towards so useful an undertaking, and to subscribe sums of money to be paid on condition the said works are completed and carried into execution, but do not care to run any risk, or desire to have any property therein: 24. Be it therefore enacted, That the said president and directors shall be, and are hereby, empowered to receive and take in subscriptions on the said conditions, and, on the said works being completed aud carried into execution according to the true intent and meaning of this act, that it* shall and may be lawful for the said president aud directors, or a majority of them, in case of refusal or neglect of payment, in the name of the company as aforesaid, to sue for and recover of the said sub¬ scribers, their heirs, executors, or administrators, the sums by them respectively subscribed by action of debt or on the case in any court of record within this State. 25. And he it enacted , That if the said capital and the other aids already granted by this act shall prove insufficient, it shall and may be lawful for the said company, from time to time, to increase the said cap¬ ital by *the addition of so many more whole shares as shall be judged necessary by the said proprietors, or a majority of them, holding at least one hundred and eighty shares, present at any general meeting of the said company. And the said president aud directors, or a majority of them, qre hereby empowered and required, after giving at least one month’s notice thereof in the North Carolina and Virginia gazettes, to open books at the before-mentioned places, for receiving and entering such additional subscriptions, in which the proprietors of the said com¬ pany, for the time being, shall and are hereby declared to have the pref¬ erence of all others, for the first thirty days after the said books shall be opened as aforesaid, of taking and subscribing for so many whole shares as any of them shall choose. And the said president and direct¬ ors are hereby required to observe, in all other respects, the same rules therein as are by this act prescribed for receiving and adjusting the first subscriptions, and in like manner to return, under the hands of au} r three or more of them, an exact list of such additional subscribers, with the sums by them respectively subscribed, into the courts as aforesaid, to be there recorded. And all proprietors of such additional sums shall aud are hereby declared to be from thenceforward incorporated into the said company. 26. And it is hereby declared and enacted , That the tolls hereinbefore allowed to be demanded and received are granted and shall be paid on condition only that the said Dismal Swamp Canal Company shall make the canal thirty-two feet wide and eight feet in depth below the surface of the earth, and capable of being navigated, in dry seasons, by vessels drawing three feet water, from Deep Creek, near Tucker’s mill, in Vir¬ ginia, to the highest good navigation for vessels of the aforesaid draught in Pasquotank River, in North Carolina, with sufficient locks, each of ninety feet in length and thirty-two feet in breadth, and capable of con¬ veying vessels drawing four feet water at the least, and that each of the causeways shall be twenty feet in breadth. 64 DISMAL SWAMP CANAL. 27. And it is hereby enacted and provided , That in case the said com¬ pany shall not begin the said work within one year after the company shall be formed, or if the said company shall not complete the naviga¬ tion and works as aforesaid withiu ten years after the said company shall be formed, then shall all interest of the said company and all pref¬ erence in their favor, as to the navigation and tolls of the said canals and causeways, be forfeited and cease. 28. And whereas at a meeting of commissioners appointed by the States of North Carolina and Virginia to agree on the form of an act for cutting the said canal, and for regulating the commerce which may be carried on through it between the citizens of the two States, to wit: Archibald Maclaine, William M’Kenzie, James Galloway, and John Stokes, esqs., on the part of North Carolina, and Robert Andrews and John Cowper, esqs., on the part of Virginia, at Fayetteville, in the State of North Carolina, on the twelfth day of December, in the year of our Lord one thousand seven hundred and eighty-six, the following compact was mutually agreed to by the said commissioners: First. The State of Virginia agrees that the waters of Elizabeth River from the said caual to the mouth thereof, the waters of Hampton Road, and of Ches¬ apeake Bay to the capes, and also Roanoke River, wherever it is in Virginia, shall be forever considered as a common highway, free for the use and navigation of all vessels belonging to the State of North Carolina or any of its citizens, and that they shall not be therein subject to the payment of any toll or charge whatever imposed for the purpose of raising a revenue. Secondly. The State of Virginia agrees that no restriction, duty, or impost shall be laid on any commodity v T hich is the growth, produce, or manufacture of the State of North Carolina, brought through the said canal or over the said causeways, for sale or exportation, and that the same may be exported without reinspection. Thirdly. The State of Virginia agrees that when any imported goods shall, within five months after entry, be exported through the said canal or over the said causeways into the State of North Carolina, in packages, bales, or casks as imported, the duties thereof shall be remitted or repaid, as the case may be, to the exporter, on his producing, within six months after the aforesaid entry, the certifi¬ cate of the naval officer of the district of North Carolina, into which the said canal enters, that the said goods have been entered there. Fourthly. The State of North Carolina agrees that the waters of Roanoke River, Meherrin, Nottoway, Chowan, Albemarle Sound, as low as the mouth of Pasquotank River, and of Pasquotank, from the mouth thereof to the said caual, shall be forever considered as a common highway, free for the. use and navigation of all vessels belonging to the State of Virginia or any of its citizens, and that they shall not be subject therein to the payment of any toll or charge whatever, imposed for the purpose of rais¬ ing a revenue. Fifthly. The State of North Carolina agrees that no restriction, duty, or impost shall be laid on any commodity which is the growth, produce, or manufacture of the State of Virginia, passing through the aforesaid waters to the said canal, or brought through the said canal, or over the said causeways, for sale or exportation, and that the same may be sold or exported without reinspection* In those articles where it is expressed that no duty or impost is to be laid for the pur¬ pose of raising revenue, it is not to be understood that the imposition of tolls for the purpose of improving the navigation of the said waters is prevented. Sixthly. The State of Eorth Carolina agrees that when any imported goods shall, within five months after entry, be exported through the said canal, or over the said causeways, into the State of DISMAL SWAMP CANAL. 65 Virginia, in packages, bales, or casks, as imported, the duties thereof shall be remitted or repaid, as the case may be, to the exporter, on his producing, within six months after the aforesaid entry, the certificate of the naval officer of Norfolk that the said goods have been entered there. Seventhly. Imported goods passing from one part of either of the said two States to another part of the same, through any of the waters of the other State, shall not be subject to any duty imposed for the purpose of raising a revenue. Lastly. The citizens of each of the said two States may have the use of the inspections of the other for the purpose of reinspectiug any damaged commodities, which have passed through the said canal, on paying the price of the labor of re¬ inspection and no more. 29. And whereas this general assembly are of opinion that the said compact is made on just and mutual principles for the true interest of both governments— 3b. Be it therefore enacted , That the said compact is hereby approved, confirmed, and ratified by the general assembly of the State of Virginia, and that every article, clause, matter, and thing therein contained shall be obligatory on this State and the citizens thereof, and shall be forever faithfully arfd inviolably observed and kept by this government and all its citizens, according to the true intent and meaning of the said com¬ pact, and the faith and honor of this State are hereby solemnly pledged and engaged to the general assembly of the State of North Carolina and the government and citizens thereof that this law shall never be repealed or altered by the legislature of this State without the consent of the State of North Carolina. Every act or part of an act of assembly which comes within the purview and meaning of this act shall be, and the same is hereby, repealed. This act shall commence and be in force from and after the passing of a like act by the general assembly of North Carolina. Chap. II.—An act to amend the act entitled “An act for cutting a navigable canal from the waters of Elizabeth River, in this State, to the waters of the Pasquotank River, in the State of North Carolina.” [Passed November 25, 1790.] Be it enacted by the general assembly of Virginia , That the books directed to be opened for receiving and entering subscriptions in the towns of Norfolk, Portsmouth, Suffolk, Petersburg, Richmond, Fredericksburg, and Alexandria, by the act entitled “An act for cutting a navigable canal from the waters of Elizabeth River in this State to the waters of Pas¬ quotank River in the State of North Carolina,” shall be opened for re¬ ceiving subscriptions at the said places, and under the management of the persons mentioned in the said recited act, and in the city of Williams¬ burg, under the management of Robert Andrews, in the month of May next, after the time when this act shall be in force, and continue open until the first day of September following; and on the third Thursday of the said mouth of September there shall be a general meeting of the subscribers at the town of Halifax, in the State of North Carolina, of which meting notice shall be given by the said managers, or any three of them, in the gazettes of both the aforesaid States, at least one month next before the said meeting; and such meeting shall and may be con¬ tinued, and the business of it conducted in the manner prescribed for the meeting appointed by the said recited act. 2. And it is hereby declared and enacted that the tolls allowed to be demanded and received by the before-recited act,, are granted and shall H. Ex. 19-5 66 DISMAL SWAMP CANAL. be paid on condition only that the said Dismal Swamp Company shall make the canal and locks of sufficient width for vessels that are fifteen feet broad, and of sufficient depth, to be navigated in dry seasons, by vessels drawing three feet water, from Deep Creek, near Tucker’s mill, in Virginia, to the highest good navigation, for vessels of the aforesaid draught, in Pasquotank River, in North Carolina, and that each of the locks shall be ninety feet in length, and the causeways fifteen feet in breadth. 3. And be it further enacted , That every act or part of an act of as¬ sembly which comes within the purview and meaning of this act, and every part of the before-recited act, concerning the regulation of com¬ merce, so far as the same is now vested in the Government of the United States, shall be, and the same are hereby, repealed. 4. And so soon as an act similar to the before-recited act, as amended by this act, shall have been passed by the State of North Carolina, the before-recited act, as amended by this act, shall be in force, and shall never be repealed or altered by the legislature of this State without the consent of the State of North Carolina. Chap. III.—An act authorizing the treasurer of this commonwealth to subscribe for certain shares in the Dismal Swamp Canal Company. [Passed November 21, 1791.] 1. Be it enacted by the general assembly That the treasurer of this commonwealth shall be authorized and directed to subscribe, in behalf of the same, to the amount of fifty shares in the Dismal Swamp Canal Company, and the money necessary, in consequence of such subscrip¬ tion, shall be paid to the order of the president and directors of the Dismal Swamp Canal Company, in the same proportion as shall be re¬ quired from individual subscribers. 2. And the treasurer for the time being shall have a right to vote, according to such shares, in person, or by proxy, appointed by him, at the meetings of the said company, and shall receive the proportion of the tolls which shall, from time to time, become due to this State from the shares aforesaid. 3. This act shall commence aud be in force from the passing thereof. Chap. IV.—An act altering the time of the annual general meeting of the Dismal Swamp Canal Company. [Passed December 22, 1795.] 1. Be it enacted by the general assembly , That hereafter the annual general meeting of the Dismal Swamp Canal Company shall be held on the fourth Monday in October, in every year, instead of the first Monday in September. 2. This act shall be in force as soon as an act of a like nature shall be passed by the legislature of North Carolina. Chap. V.— An act concerning the Dismal Swamp Canal Company. [Passed January 3, 1799.] ‘ • 1. Be it enacted by the general assembly , That the treasurer be, and he is hereby, authorized and required to subscribe, on behalf of the commonwealth, for twenty additional shares in the Dismal Swamp Ca- DISMAL SWAMP CANAL. 67 nal Company, which shall be held and enjoyed in like manner as the shares now held by the commonwealth in the said company; and the money, which shall become due for the shares so to be subscribed for, shall be paid by the said treasurer out of any money in his hands, on a warrant or warrants from the auditor of public accounts, to be issued on application of a board of the president and directors of the said company. 2. This act shall commence and be in force from the passing thereof. Chap. VI. — An act concerning tlie Dismal Swamp Canal Company. [Passed December 16, 1800.] Whereas it is represented to this general assembly by the Dismal Swamp Canal Company that the said company, notwithstanding the greatest exertions, may not be able to complete the canal and other works undertaken by them, within the time to which they are limited by law, and, also, that some alterations may be made in the said works, which will be beneficial to the said company and not detrimental to the public; and whereas it consisteth with the true policy and dignity of States to encourage works of public utility and to favor those engaged in the execution of them, so far as it may comport with the general good— 1. Be it enacted , That the further time of five years be allowed to the Dismal Swamp Canal Company, to be computed from the nineteenth day of September, in the year one thousand eight hundred and one, to com¬ plete their canal and other works, in such a manner as to entitle them to receive the tolls granted by law. 2. And be it further enacted, That a causeway or road, of the dimen¬ sions prescribed by law, on one bank of the said canal, shall be suffi¬ cient until the legislatures of the States of Virginia and North Carolina shall see proper to direct a like road or causeway to be made on the other bank; any act or part of an act to the contrary notwithstanding. 3. And whereas it is represented that parts of the said canal and works may now be used, by travelers and others, with advantage, and it is just that they, who receive the benefit therefrom, should make some return for the same : Be it enacted , That the said company shall have a right to demand and receive from those who may choose to use their causeways or water, before the navigation and works shall be completed, a reasonable com¬ pensation for the use thereof; the assembly of North Carolina having passed an act similar to this. 4. This act shall commence and be in force from and after the pass¬ ing thereof. Chap. VII.—Ad act concerning the Dismal Swamp Canal Company. [Passed Janu¬ ary 20, 1807.] Whereas it has been represented to this general assembly, by the Dismal Swamp Canal Company, that the said company, notwithstand¬ ing the greatest exertions, will not be able to complete the canal and other works undertaken by them within the time to which they are 68 DISMAL SWAMP CANAL. limited by law; and whereas it consisteth with the true policy of States to encourage works of public utility : 1. Be it enacted by the general assembly , That the further time of six years, to be computed from the first day of August, one thousand eight hundred and six, be allowed to the Dismal Swamp Canal Company to complete their canal and other works, in such a manner as to entitle them to receive the tolls granted by law. 2. This act shall commence and be in force from aud after the pass¬ ing thereof. , Chap. VIII.— x\.n act concerning the Dismal Swamp Canal Company. [Passed Jan¬ uary 23, 1810.] 1. Be it enacted by the general asse nbly , That, as soon as the consent of the assembly of North Carolina shall be obtained, it shall be lawful for the president and directors of the Dismal Swamp Caual Company, and they are hereby authorized, to demand and receive, in lieu of the tolls heretofore allowed by law, tolls according to the following table and rates, to wit: . • Cents. Every pipe of wine. . Every hogshead of rum, or other spirit... Every hogshead of tobacco.. Every hogshead of molasses.. Every bushel of wheat, pease, rice, or flaxseed.. Every barrel of pork.. Every barrel of beef.... Every barrel of fish. Every barrel of flour. Every barrel of tar, pitch, rosin, or turpentine. .. Every cask of linseed oil, or spirits of turpentine. Every ton of flax, hemp, or potashes. Every ton of bar-iron. Every ton of pig-iron, or castings. . Every ton of stone, or iron ore, other than ballast of the vessel.. Every ton of copper, lead, or other ore, other than iron ore. Every chaldron of coals.. Every hundred bushels of lime, or shells.... Every thousand of bricks or tiles.... Every hundred of pipe staves..... Every hundred of hogshead staves, or pipe or hogshead heading Every hundred of barrel staves, or barrel heading. Every thousand shingles, from 18 to 24 inches. Every thousand shingles, from 24 inches to 3 feet. Every thousand clapboards or pales. Every cord of fire wood.. Every hundred cubic feet of plank, or scantling. Every hundred cubic feet of all other timber (excepting masts or bowsprits, the length whereof exceeds fifty feet). Every hundred cubic feet of masts, or timber, the length whereof exceeds fifty feet. Every hundred pounds of brown sugar . All other produce, goods, or merchandise, one-fourth per centum. Every boat, or vessel, exceeding one ton burthen, whether laden or empty, if she passes in or out of the outer locks, shall, for the entire passage, pay per ton..... 100 50 34 25 2 121 10 6i 10 H 25 150 50 50 8 42 10 50 42 20 124 8 18f 50 50 25 100 75 150 4 20 DISMAL SWAMP CANAL. 69 Every boat, or vessel, under live tons burthen, whose employment is confined to transportation upon the canal only, without pass¬ ing through the locks, which has not commodities on board to yield so much (except an empty boat, returning, whose load lias already paid, in which case she is to pass free of toll), for each trip shall pay.... 75 Every boat, or vessel, under one ton burthen, which has not com¬ modities on board to yield so much. 25 Every man (except foot travelers, who shall pass free), horse, ox in draught, and wheel passing the causeways, except the loads they carry yield so much, or empty wagons or carts returning, whose load has paid toll... 12J Every head of black cattle.... 6J Every hog, or sheep. 2 Provided , That nothing in this act contained shall be so construed as to deprive any subsequent legislature of the right to diminish the said tolls. 2. This act shall commence and be in force from and after the passing thereof. Chap. IX.— An act concerning the Dismal Swamp Canal Company. [Passed Febru¬ ary 14, 181(5.] Whereas it is represented to this general assembly that the Dismal Swamp Canal Company have not been able, from the intervention of the late war and other causes, to complete that work within the time limited by law; and it being, also, represented that an enlargement of the scale of that work to, perhaps, double its present size, and assigning to it a correspondent increase of capital to perform it, would, in an emi¬ nent degree, add to its national usefulness, both in time of peace and in war: 1. Be it therefore enacted , That the further time of seven years (to be computed from the first of January, one thousand eight hundred and sixteen) be allowed the Dismal Swamp Canal Company to enlarge and complete their canal in the manner hereinafter prescribed. 2. And be it further enacted , That the present stockholders of the said company be required to advance twenty thousand dollars on their pres¬ ent capital stock, being an additional twenty per cent, upon his, her, or their respective shares in the stock of the said company, payable in such installments as the president and directors of the said company, for the time being, shall find it necessary to require; and if any of the said pro¬ prietors shall refuse or neglect to pay their respective proportions of such requisitions, the said president and directors, or a majority of them, shall and may sell at auction, and convey to the purchaser, the share or shares of such proprietor so refusing or neglecting payment (giving at least one month’s notice of such intended sale in the Norfolk newspa¬ pers), and after retaining the sum due, and the charges of such sale, out of the money produced thereby, they shall refund the overplus, if any, to the former owner: Provided , however , That nothing hereiu contained shall be construed to authorize the said president and directors to sell the share or shares of any person who, at the time, shall be under age, non compos, or not residing within this commonwealth; nevertheless, it shall be lawful for the said president and directors to withhold the pay¬ ment of all dividends of such persons thereafter accruing, and, from time to time, to apply the same to the payment of the unsatisfied requi¬ sitions until they shall be fully paid, with interest. 70 DISMAL SWAMP CANAL. 3. Be it enacted , That the said canal, when completed, shall, through¬ out (except at the locks), be not less in width than forty feet on the surface thereof, and of sufficient depth for vessels drawing five feet water to navigate it at all seasons; and that, whensoever the present locks (which are constructed of wood) shall have become so decayed as to make new ones necessary, such new ones, at the out falls at leasts shall be constructed of solid and substantial mason-work. 4. Be it enacted , That the said company be, and that they are hereby, authorized to raise, by one or more lotteries, the sum of fifty thousand dollars, for the purposes hereinbefore stated, or for any other purpose having for its object the extension and improvement of the internal navigation between the waters of North Carolina and those of Virginia, through the Dismal Swamp Canal, or any cross-cuts leading into it. 5. And be it further enacted, That if the increase of capital and other aids, by this act already granted, be not deemed sufficient to accomplish this great public work on the scale comtemplated, it shall and may be lawful for the said company still further to increase the capital thereof, by the subscription of new stock. And the president and directors of the said company, for the time being, are hereby authorized and required, whensoever they shall find the same necessary, to open books for the subscription of any sum, not exceeding sixty thousand dollars, of additional capital stock, to be divided into shares, not less than one hundred and twenty-five dollars each; in the subscribing to which additional shares, the stockholders of the company, for the time being, are hereby declared to have a preference, for the first thirty days after the books are opened, but no longer. And all pro¬ prietors of such additional sums shall and are hereby declared to be from thenceforward incorporated into the said company: Provided , That the stockholders of the additional shares, hereby authorized to be sub¬ scribed for, shall not be entitled to any dividends thereupon, until six months after they shall have paid up the whole amount of their sub¬ scriptions, and that the dividends on a share of the new stock shall bear the same proportion to the dividends on a share of the old stock, as the new share bears to the old share: Provided , also , That in estimating the number of votes to be given on the new stock, each sum of such new stock equal in amount to a share of the old stock, and not less, shall be counted as one share. 6. Be it enacted , That, if the stockholders, at their next meeting, shall X>refer to increase the stock of the company, in lieu of advancing twenty per cent, on their present shares, they shall be and are hereby permitted to do so. 7. Be it further enacted , That the fourth section of this act shall be in force from and after the passing thereof. 8. The remaining sections of this act shall be in force so soon as the same shall be approved by the stockholders of the said company, at a general meeting, and by the legislature of North Carolina. Chap. X.—An act authorizing the president and directors of the board of public works to subscribe for a part of the stock of the Dismal Swamp Canal Company. [Passed February 20 } 1817.] 1. Be it enacted by the general assembly , That it slyill be lawful for the president and directors of the board of public works, and they are hereby required, to subscribe, on behalf of the commonwealth, according to the terms and provisions of the act entitled “An act to create a fund DISMAL SWAMP CANAL. 71 for internal improvement,” so many shares of the new stock in the Dis¬ mal Swamp Canal Company, authorized by an act of the last legisla¬ ture, as will augment the interest of the State in that company to the sum of sixty-four thousand dollars.* And the shares thus to be sub¬ scribed for on the part of the State shall be paid for in the following manner, and at the tollowing periods, to wit : one-third part thereof on the first day of August, one thousand eight hundred and seventeen, one- third part thereof on the first day of August, one thousand eight hun¬ dred and eighteen, and one-third part thereof on the first day of August, one thousand eight hundred and nineteen: Provided , That nothing herein contained shall place the stock of the State upon any other or worse footing, as to dividends, than the stock of individual subscribers. 2. This act shall be in force from the passing thereof. Chap. XI.—Ad act authorizing the Dismal Swamp Canal Company to open a naviga ble communication between the canal and the nearest navigable part of the North west River, and other purposes. [Passed January 29, 1818.] Whereas it is represented to the general assembly that the interests of a large portion of the citizens of this State and the State of North Carolina would be greatly promoted by cutting a canal to connect Northwest River with the Dismal Swamp Canal, or by clearing out the said river from its junction with the canal to the highest navi¬ gable point; and, moreover, that the commerce of the Dismal Swamp Canal, arising from its present sources, together with the probable in¬ crease of trade, from the improvements contemplated, make it necessary that the president and directors of the said company should have the privilege of constructing other outlets, and forming basins and other reservoirs, to contain water for the supply of locks and accommodation of boats: 1. Be it therefore enacted , That it shall and may be lawful for the pres¬ ident, directors, and company of the Dismal Swamp Canal to clear out and render navigable the Northwest River, from its junction with their canal to any navigable point of said river, which may by them be deemed expedient and best calculated to confer the benefits of good navigation, or to cut a canal, connecting the Dismal Swamp Canal with the Northwest River, at any point which may be selected by them; and, for these purposes, full power and authority is hereby granted to acquire and possess by grant, purchase, or condemnation, under a writ of ad quod damnum , the land through which the said canal is intended to pass; and that, on application to any two justices of the peace of the county in which such land shall lie, the said justices shall issue their warrant, under their hands and seals, to the sheriff of their county, to summon a jury of eighteen inhabitants of his county, of property and reputation, not related to the parties, nor in any manner interested, to meet on the lands to be valued, on a day to be expressed in the war¬ rant, not less than ten nor more than twenty days thereafter; and the sheriff, on receiving the said warrant, shall forthwith summon the said jury, and, when met, provided that not less than twelve appear, shall administer an oath or affirmation to every juryman present, “ that he *Note. —In the printed copy of the laws, after the words “ sixty-four thousand dol¬ lars,” the following words are added: “over and above the present interest of the State in the stock of that company.” The printed copy was compared by Mr. Mun- ford, keeper of the rolls, with the roll, and the copy found incorrect, on the 11th Mach, 1817. 72 DISMAL SWAMP CANAL. will fairly, justly, and impartially value the lauds required to be con¬ demned, and all damages the owner thereof may sustain by cutting the canal through such land, according to the best of his skill and judg¬ ment, and that in such valuation he will not spare any person, through favor or affection, nor any person grieve through malice, hatred, or ill will.” And the inquisition taken thereon shall be signed by the sheriff, and some twelve or more of the jury, and returned by the sheriff to the clerk of his county, to be by him recorded; and, on every such valua¬ tion, the jury is hereby directed to describe and ascertain the bounds of the land by them valued, and their valuation shall be conclusive on all persons, and shall be paid by the said president, directors, and com¬ pany to the owner of the land, or his legal representative or represen¬ tatives; and, on payment thereof, the said company shall be seized in fee of such land, as if conveyed by the owner to them and their suc¬ cessors by legal conveyance. 2. Be it further enacted , That for and in consideration of the expenses the said Dismal Swamp Canal Company may incur, not only in cutting the said canal, or clearing out the said river, erecting locks, and per¬ forming other works necessary for this navigation, but in maintaining and keeping the same in repair, the said canal, locks, causeways, and other works, with all their profits, shall be, and the same are hereby, vested in the said company, on the same terms and conditions on which they hold the Dismal Swamp Canal and its works; and it shall and may be lawful for the president, directors, and company of the Dismal Swamp Canal to demand and receive, on some place on the canal hereby authorized to be cut, or in the Dismal Swamp Canal (of which this work is intended to form a part), for all commodities transported through this new canal, or over the causeways thereof, tolls after the rate of one-third of the amount paid upon the transportation of the like commodities through the main or Dismal Swamp Canal. 3. Be it further enacted , That for the purpose of improving the navi¬ gation of the canal and rendering it of greater public utility, it shall be lawful for the president and directors of the Dismal Swamp Canal, and they are hereby authorized, to construct additional outlets, and to form basins and reservoirs, for the supply of the locks and accommodation of boats navigating the canal, at any point or place thereof which may be selected for that purpose; and that they have power to acquire and hold, for the use of the company, such quantity of land as may be found to be necessary for these objects, under the same restrictions, and upon the same terms and conditions, as are enacted for the acquisition of land in the first section of this act. 4. Be it further enacted , That the Dismal Swamp Canal Company, in . their corporate capacity, shall be and are hereby empowered to pre¬ scribe the number, the places, and manner of constructing bridges that are to cross their canal; to restrain persons from depositing timber and lumber upon the roads of the canal, to the obstruction of travelers and injury of the embankments thereof; and to make such other regulations and by-laws as shall be found necessary to prevent or correct abuses, and preserve peace and good order among those who pass on this pub¬ lic highway. 5. Be it further enacted , That in case the president, directors, and com¬ pany of the Dismal Swamp Canal shall not, at its next general meeting after the passage and confirmation of this law, declare its intention to open and improve the navigation of the Northwest Kiver, or to cut a canal connecting those waters with the waters of the Dismal Swamp Caual, or shall fail within two years thereafter to commence the same, in the manner provided for by this act, it shall and may be lawful for DISMAL SWAMP CANAL. 73 either of these purposes to open books of subscription, in the borough of Norfolk, under the superintendence of Swepson Whitehead, William C. Holt, Robert B. Taylor, William Cammack, Butler Maury, Miles King, and Richard Blow, to raise any sum of money that may be deemed requisite, not exceeding fifty thousand dollars, in shares of one hundred dollars each ; and, when the subscription shall be completed, there shall be a general meeting of the subscribers, on such day and at such place as a majority of the said subscribers shall appoint, notice of which meeting having been given for three weeks in some newspaper printed in Norfolk. If a majority of the shares subscribed for be represented at this general meeting, the company shall thenceforth be incorporated and styled “The Northwest River Company,” and shall, then and annually there¬ after (there being at such subsequent meetings a majority of the shares represented), proceed to the choice of a president and four direct¬ ors, and such officers, agents, and servants as may be deemed necessary for commencing, prosecuting, and conducting said work. 6. And be it further enacted , That the subscriptions to this company shall be made payable at such periods, and in such proportions, as the president and directors, or a majority of them, shall direct. And in case of the failure of any subscriber or subscribers to comply with the orders or requisitions of the said president and directors in this respect, the share or shares of him or them so failing may be sold at public auction, for ready money (after publishing for ten days, notice of the time and place of sale of such share or shares, in some newspaper of the borough of Norfolk), and a transfer thereof in fee-simple made to the purchaser or purchasers; and if, after the sale of such share or shares, there shall still remain a balance due thereon, the same may be recovered with costs (upon ten days’ previous notice) of the subscriber or subscribers of such share or shares, his or their executors or adminis¬ trators. 7. Be it further enacted , That it shall and may be lawful for the Northwest River Company to demand and receive, for the transporta¬ tion of any article through its canal, one-third of the price which the Dismal Swamp Canal Company might lawfully charge for the transpor¬ tation through it of the like article. 8. And be it further enacted , That the condemnation of land necessary for the purposes of this company, the transfer of shares, the appoint¬ ment of dirctors, officers, agents, and servants, and all other necessary acts and things to be done for the government of the company, shall be after the manner and upon the principles of the charter of the Dismal Swamp Canal Company. 9. This act shall commence and be in force from and after the con¬ firmation of the same by the legislature of the State of North Carolina. Ciiap. XII.—An act authorizing the president and directors of the board of public works to loan a sum of money to the Dismal Swamp Canal Company. [Passed March 10, 1819.] 1. Be it enacted by the general assembly , That it shall be lawful for the president and directors of the board of public works, at their discre¬ tion, to loan, on behalf of the commonwealth, to the Dismal Swamp Canal Company, the sum of fifty thousand dollars, or such part thereof as their funds will justify, taking into view the claims already on the board, and such other public improvements as the legislature may here¬ after direct the board of public works to subscribe to. 2. This act shall be in force from the passing thereof. 74 DISMAL SWAMP CANAL. Chap. XIII.—An act. changing the stock of the Dismal Swamp Canal Company from real to personal estate. [Passed February 10, 1820.] Whereas it has been represented to this assembly that great incon¬ venience has been experienced in the transfer of stock in the Dismal Swamp Canal Company, and the price or value of the stock greatly diminished by reason of its being considered real estate; for remedy whereof, 1. Be it enacted by the general assembly of the State of Virginia and it is hereby enacted by the authority of the same, That the shares of stock in the Dismal Swamp Canal Company shall henceforth be deemed, taken, and considered, both in law and in equity, as personal estate, and, as such, transferable in such manner and form as the president and direct¬ ors of the said company shall prescribe : Provided , That this act shall not be so construed as to affect the rights of infants already vested. 2. This act shall be in force from and after the passing thereof. Acts of the general assembly of Virginia passed subsequent to February, 1820, respecting the Dismal Swamp Canal Company, ivith an appendix, containing some acts of the State of North Carolina and of the Congress of the United States in relation to that company. Chap. I.—An act authorizing the president and directors of the hoard of public works to loan a sum of money to the Dismal Swamp Canal Company. [Passed Feb¬ ruary 26, 1824.] Be it enacted by the general assembly, That the president and directors of the board of public works shall be authorized to loan, on behalf of the Commonwealth, to the Dismal Swamp Canal Company, tlie sum of thirty- seven thousand five hundred dollars, payable in five equal semi-annual installments; the first to be advanced on the fifteenth day of January, eighteen hundred and twenty-five, or so soon thereafter as the state of the fund for internal improvement will permit: Provided, Such advance do not prevent the board of public works from complying with any engagements now existing or authorized, and that the Dismal Swamp Canal Company do execute to the president and directors of the board of public works, previous to the payment of the first installment, a mortgage upon their whole property, real and personal, as well, also, the net income of all their tolls and receipts, and cause the same to be re¬ corded in the county court of Norfolk County, to secure the payment of the same, on or before the first day of January, eighteen hundred and thirty; and to pay the interest thereon from the respective periods of advancing the same, semi-annually, into the Treasury, to the credit of the fund for internal improvement. This act shall be in force from the passing thereof. Ciiap. II.—An act to authorize the stockholders of the Dismal Swamp Canal Com¬ pany to increase their capital stock. [Passed February 10, 1825.] Whereas it is represented to this general assembly that the funds- provided to complete the Dismal Swamp Canal are inadequate to the object; and it is recommended by the board of public works to author¬ ize the said company to increase their capital stock, for the purpose of obtaining the means necessary to perfect this important improvement. DISMAL SWAMP CANAL. 75 1. Be it therefore enacted, That it shall be lawful for the president and directors of the Dismal Swamp Canal Company to open books for the subscription of as many additional shares as will increase the capital of the said company to an amount which may be sufficient to complete the canal. 2. Be it further enacted, That the stockholders of the said company, for the time being, shall have a preference in the subscription of the new stock, by this act authorized to be created, for the first thirty days after the books are opened, but no longer. And all proprietors of such addi¬ tional shares shall, and are hereby declared to be, from henceforth incorporated into the said company, upon the same terms and with the like privileges of the original stockholders. 3. Be it further enacted , That this act shall have no force or effect until it shall have been sanctioned and approved by the stockholders in a general meeting, convened agreeably to the provisions of the charter of the said company, and they shall have decided upon the increase of capital necessary to carry the object of,this act into effect. 4. This act shall be in force from the passing thereof. Chap. III. — An act to amend an act entitled “An act for cutting a navigable canal from the waters of Elizabeth River, in the State of Virginia, to the waters of Pas¬ quotank River, in North Carolina.” [Passed January 7, 1836.] Whereas it is represented that the general assembly of the common¬ wealth of North Carolina did, at its last session, pass an act entitled “An act to amend an act entitled ‘An act for cutting a navigable canal from the waters of Elizabeth Eiver, in the State of Virginia, to the waters of Pasquotank Eiver, in North Carolina,’” passed in Virginia December the first, one thousand seven hundred and eighty-seven, in the words following, to wit: u l. Be it enacted by the general assembly of the State of North Carolina and it is hereby enacted by the authority of the same, That the sixth sec¬ tion of the act aforesaid be so altered and amended that, in case of the death, removal, resignation, or incapacity of the president or of any of the directors, the board of directors may elect one of their own body or any stockholder of the company to supply the vacancy thus created, and the person so elected shall hold such appointment until the next meeting of the stockholders, and no longer. “2. Beit farther enacted, That after the next general meeting of the stockholders of the Dismal Swamp Canal Company, on the first Monday in May next, the next general meeting shall be on the first Monday in November, one thousand eight hundred and thirty-six, and continued by adjournment, as heretofore, and on the first Monday in November in each year afterwards. “3. Be it farther enacted, TJiat at the election of president and directors of said company which shall take place in May next, the same shall be elected until the first Monday in November, one thousand eight hundred and thirty-six, when the president and directors shall be elected for one year, and so shall be elected on the first Monday of November in each year in manner and form as heretofore.” 1. Be it therefore enacted by the general assembly of this commonwealth, That the assent of this legislature in and to the foregoing act of the general assembly of North Carolina is hereby as fully and completely given as if the said act had been passed by this present general assembly, and the same shall be in force within this commonwealth from and after the passing of this act. 76 DISMAL SWAMP CANAL. Chap. IV.—An act to authorize the president and directors of the Dismal Canal Com¬ pany to erect a lock and dam in Deep Creek. [Passed February 4, 1837.] 1. Be it enacted by the general assembly , That it shall be lawful for the president and directors of the Dismal Swamp Canal Company to make application to the county court of Norfolk County for a writ of ad quod damnum , directed to the sheriff of said county, commanding him to sum¬ mon twelve freeholders of his county, who, being first sworn, shall locate, circumscribe, and value any quantity of land, not exceeding one acre, lying on Deep Creek, in said county, at any point below the present locks of said company, for the purpose of abutting a dam, to be erected by the said president and directors across the said creek, of sufficient height to keep the water in said creek at usual higli-water mark, and shall also examine the lands above and below the point at which suck lock and dam is proposed to be erected, and say what damage will arise to the several proprietors thereof; whether any, and if any what, lands will be overflowed; whether the health of the neighborhood will be injuriously affected, and whether the navigation of Deep Creek above and below such lock and dam will be injured ; and upon the fiuding of the jury and the return of their inquest, embracing the points of inquiry aforesaid, and the payment of all damages by them assessed, the said county court of Norfolk (the magistrates of said county having been first summoned and a majority thereof being present), may, if it shall be of opinion that it is expedient to do so, grant the leave to erect such lock and dam: Provided , The same be erected within the period of seven years; reserving to any party conceiving himself or herself aggrieved by the order of court permitting the erection of said dam the right of appeal to the superior court of law and chancery for the said county of Norfolk, which shall have the same power to consider the said applica¬ tion and to grant or refuse the same as is by this act given to the said county court: Provided, however, That nothiug hereiu contained shall be so construed as to vest in the said company any right of property in the lands or water in said creek above the dam, nor to prohibit to "any company or companies hereafter to be incorporated, or to any individual or individuals, the use of the w ater above the said dam for mills, manufac¬ tories, or canals, or any other purposes which shall not interfere with or obstruct the navigation of the canal. And the general assembly hereby reserves to itself the right at any time hereafter when it shall think proper to do so, to raise the water in the said creek by increasing the height of the dam. 2. Be it further enacted , That if the leave be granted to the said presi¬ dent, directors, and company to erect the said lock and dam, they shall be, and are hereby, required to erect a good and sufficient lock, of capacity and dimensions at least equal to those of the company at the eastern and northern termination of their canal, and to cause regular and suffi¬ cient attendance to be given thereat at all times to admit the passage of all vessels, lighters, and boats navigating Deep Creek free of any charge or toll whatever, and should any delay or obstruction at any time occur in the passage of any vessel, lighter, or boat through such lock, the said president, directors, and company shall forfeit and pay the sum of twenty dollars for every time such delay or obstruction shall happen, recoverable by warrant in the name of the commonwealth before any justice of the peace for the county of Norfolk, one-half of which penalty shall go to the prosecutor therefor, and the other half to the literary fund; and they shall moreover be liable from time to time to private actions or suits for all such damages as shall be sustained by reason of the erection of such lock and darn. DISMAL SWAMP CANAL. 77 3. And be it further enacted , That if, at any time after the erection of the lock anil dam hereby authorized, the navigation of Deep Creek in the county of Norfolk, above the said lock and dam, shall not, iu all re¬ spects and at all times, be as good and sufficient for vessels, lighters, and boats, as it now is at ordinary high water, upon complaint thereof, made either to the circuit superior court of law' and chancery for the county of Norfolk, or to the county court of Norfolk, it shall be lawful for such court to enter a rule against the said president, directors, and company, to appear at the next court, to show cause, if any they can, why an information should not be filed against them, for their neglect to provide and secure such navigation; a copy of which rule being served upon the president, or any director of the said Dismal Swamp Canal Company, the same proceedings shall be had thereupon as in other cases; and if, upon the trial of such information, the verdict of the jury shall be against them, the court shall render judgment there¬ upon, abating the lock and dam hereby authorized to be erected. 4. This act shall be in force from its passage. [Repealed by act of February 2, 1838, ch. 6, sec. 5.] Chap. V. — An act to auikorize the Dismal Swamp Canal Company to increase their capital stock, and to authorize the loans of the State to said company to be con¬ verted into stock. [Passed February 17, 1837.] 1. Be it enacted by the general assembly , That the president and di¬ rectors of the Dismal Swamp Canal Company be and they are hereby authorized and empowered, w r ith the assent of a majority of the votes of the stockholders of the company, in general meeting expressed, either before or after the passage of this act, to increase the capital stock of said company to nineteen hundred and forty-four shares; and the pur¬ chaser or purchasers, subscriber or subscribers of the shares of said stock thus increased, shall have and enjoy all the rights and privileges which they w r ould have been entitled to, if the said shares had been a part pf the stock authorized in the original charter, or any amendment thereof. 2. Be it further enacted , That the board of public works be and are hereby authorized and directed to subscribe, on behalf of the common¬ wealth, for such amount of stock of said company as will increase the subscription on the part of the State to seven hundred and sixty shares of the whole capital increased as aforesaid ; which subscription shall be made agreeably to the terms and conditions of the act entitled “An act prescribing certain general conditions on which future subscriptions to the capital of joint-stock companies shall be made on behalf of the com¬ monwealth,” passed February the eleventh, one thousand eight hundred and thirty-two. 3. Be it further enacted , That if the unappropriated income of the fund for internal improvement shall be inadequate to meet the payments of the said subscription, as the same shall become due, it shall and may be lawful for the said board of public w r orks to borrow, from time to time, such sum or sums of money as may be required for that purpose, upon the terms and conditions prescribed for the loans to be negotiated agree¬ ably to the second, third, fourth, fifth, and sixth sections of the act en¬ titled “An act authorizing a subscription on behalf of the commonwealth to the stock of the Louisa Railroad Company,” passed at the present session of the general assembly. 4. This act shall be in force lrom its passage. 78 DISMAL SWAMP CANAL. Chap. VI.—An act to authorize the erection of a lock and dam in Deep Creek by the president and directors of the Dismal Swamp Canal Company, and for repealing the act of the 4th February, 1837. [Passed February 2, 1838. J Whereas it has been represented to this present general assembly that serious obstructions exist in Deep Creek in the county of Norfolk, and are likely to increase, to the great inconvenience and injury of the commerce and navigation passing through the Dismal Swamp Canal: 1. Be it therefore enacted , That the president and directors of the Dismal Swamp Canal Company be and they are hereby authorized to abut a dam at any place in Deep Creek, below the present locks, which shall retain the water, between the said locks and dam to be erected at the usual high-water mark, to be ascertained by a compe¬ tent engineer to be employed by the company; and, for this purpose, it shall and may be lawful for the said president and directors to make application to the court of Norfolk County, or to the circuit superior court of law and chancery for said county, for a writ of ad quod damnum , directed to the sheriff’ of said county, commanding him to summon twelve freeholders of his county, who, being first sworn, shall locate, circumscribe, and value any quantity of land, necessary for the construction of said lock and dam, not exceeding six acres, lying on said creek, at any point below the present out-fall locks; and shall also examine the mills and lands above and below the point at which such lock and dam are proposed to be erected, and say what damages will arise to the several proprietors thereof; whether any, and, if any, what lands will be overflowed, and whether the navigation of Deep Creek, above and be¬ low such lock and dam, will be injured; and, upon the finding of the jury and the return of their iuquest embracing the points of inquiry afore¬ said, the court may either grant leave to erect such lock and dam, and direct the payment of the damages assessed, or may set aside the said inquest, and direct another view and inquest to be made as often as the court may think necessary. But the said president and directors are hereby empowered to proceed at any time to the erection of said lock and dam ; and in the mean time no order shall be made and no injunction shall be awarded by any court or judge to stay the proceedings of the said president and directors, unless it be manifest to the court that th^ said president and directors, their officers, agents, or servants, are transcend¬ ing their authority, and the interposition of the court is necessary to pre- ventinjury thatcannotbe adequately compensated in damages: Provided , however , That the said president and directors shall have first applied for and obtained the writ of ad quod damnum , according to the provis¬ ions of this act: Provided , The said dam be erected within the period of seven years from the passage of this act; and also to erect a lock or locks of sufficient capacity to receivo*and pass any vessel that can now pass through the present locks at the north outfall of the said canal. 2. Be it further enacted , That, upon the return of such writ of ad quod damnum to the court of Norfolk County, it shall and may be lawful for either party, that is to say, the owner or owners of the said land, or for the said company, to appeal from any decree, order, or judgment which the said county court may enter or make in the case to the superior court of law and chancery for said county, which is hereby authorized to make such order or decree in the case as to the said superior court shall appear right and proper. 3. Be it further enacted, That the lock or locks which the said company may cause to be constructed under this act shall be free for all vessels, boats, lighters, and rafts of timber to pass and repass, free of any charge of toll or tonnage, at all times when it can be safe to open the said lock DISMAL SWAMP CANAL. 79 or locks; and, if any person or persons shall be detained or hindered in passing the same, through any fault or neglect of the said company, their agents or servants, the said company shall be liable for all injury or damage sustained thereby, to be recovered by warrant, petition, or action at law, according to the extent of damage sustained, as the case may be. 4. Be it further enacted , That nothing in this act shall be construed as investing any exclusive right in the said company to the water, or the land which it may cover, except for the purposes contemplated by this act. 5. Be it further enacted , That the act passed on the fourth day of Feb¬ ruary, eighteen hundred and thirty-seven, entitled “An act to authorize the president and directors of the Dismal Swamp Canal Company to erect a lock and dam in Deep Creek,” shall be, and the same is hereby, repealed. 6. Be it further enacted , That if the aforesaid president and directors of the Dismal Swamp Canal Company shall erect the locks and dam hereinbefore authorized, they shall not use the waters of the said canal, nor permit the same to be used by any other person, nor draw off the same, nor permit the same to be drawn off, for the use of mills, or any other purpose than that of affording navigation for the boats, vessels, or rafts that may be employed in the transportation of commodities on said canal. 7. This act shall be in force from its passage. Chaf. VII.—An act to amend and explain certain acts concerning the Dismal Swamp Canal Company. [Passed February 9, 1839.J Whereas doubts have aiisen as to the true construction of the “Act authorizing the Dismal Swamp Canal Company to open a navigable communication between the canal and the nearest navigable part of the Northwest Kiver, and for other purposes,” passed January the twenty- ninth, eighteen hundred and eighteen, for remedy whereof, 1. Be it enacted by the general assembly , That the said act shall be deemed and taken as giving full power and authority to the president and directors of the Dismal Swamp Canal Company to make a sufficient outlet or canal, from or near the present northern termination of the said Dismal Swamp Canal, in Deep Creek, to some place on the South¬ ern Branch of Elizabeth Kiver, below the mouth of Deep Creek; and that the condemnation of lauds necessary for such purpose shall be made in the mauner and upon the priifciples prescribed in the charter of the said canal company; and full power and authority are hereby given to the president and directors of the company to make the said outlet or canal as aforesaid, and to condemn the lands necessary for that purpose in manner aforesaid. 2. And be it further enacted, That the president and directors of the said company shall be, and are hereby, authorized and empowered to erect a lock or locks, on the said outlet or canal, of sufficient dimensions and suitable for vessels navigating the said Dismal Swamp Canal. 3. And be it further enacted , That the act passed on the second day of February, eighteen liuudred and thirty-eight, entitled “An act to au¬ thorize the erection of a lock and dam in Deep Creek, by the president and directors of the Dismal Swamp Canal Company,” shall be so con¬ strued as to leave the erection of said lock to the discretion of the 80 DISMAL SWAMP CANAL. said president and directors, anything in said act to the contrary not¬ withstanding: Provided, however. That the outlet and lock or locks, which the said company may cause to be constructed under this act, shall be free for all vessels, boats, lighters, and rafts of timber, the proprietors of which reside or own lands upon said outlet, or Deep Creek, to pass and repass free of any charge of toll or tonnage, at all times, when it can be safe to open said lock or locks; and if any such vessels, boats, lighters, or rafts of timber shall be detained or hindered in passing the same,*through any fault or neglect of said company, their agents or servants, the said company shall be liable for all injury or damage sustained thereby, to be recovered by warrant, petition, or action at law, according to the extent of damage sustained, as the case may be. 4. This act shall be in force from the passing thereof. Chap. VIII.— An act to exempt the lock-keepers of the Dismal Swamp Canal from militia duty. [Passed March 29, 1839.] 1. Be it enacted by the general assembly, That the six* lock-keepers of the Dismal Swamp Canal Company shall hereafter be exempt from militia duty of every kind, except in times of war, insurrection, or inva¬ sion. 2. This act shall be in force from the passing thereof. Appendix. \ Chap. I.—An act to provide for the removal of the obstructions to the passage of masted vessels from the Dismal Swamp Canal to Albermarle Sound. [Passed Janu¬ ary 8, 1829.] Whereas complaint has been made to the general assembly that a bridge erected across Pasquotank River, by the counties of Camden and Pasquotank, obstructs the passage of masted vessels from the Dismal Swamp Canal to the waters of Itoanoke and the other rivers flowing into Albermarle Sound. And whereas, in the compact entered into with the State of Virginia, the State of North Carolina pledged its faith and honor that the waters of Roanoke River, Meherrin, Nottoway, Chow¬ an, Albemarle Sound as low down as the mouth of Pasquotank River, and of the Pasquotank, from the mouth thereof, to the said canal, should be forever considered a common highway, free for the use and naviga¬ tion of all vessels belonging to the State of Virginia, or any of its citi¬ zens. And whereas it is represented to this general assembly that the said counties have been at considerable expense in erecting said bridge, and that a draw might be fixed therein, so as to permit the pas¬ sage of vessels having masts; and inasmuch as the making of such draw, or otherwise alteriug the construction! of said bridge, so as to permit the passage of masted vessels, would be for the public benefit, it is just and proper that the State should contribute toward the expense thereof: 1. Be it therefore enacted by the general assembly of the State of North Carolina, and it is hereby enacted by the authority of the same. That Willie * Note.—' There are six lock-keepers in Virginia and two in North Carolina. [See Appendix, chap. 2.] DISMAL SWAMP CANAL. 81 McPherson, George Ferrebee, and Joseph Dozier, of Camden County, and William S. Hinton and Noah Sawyer, of Pasquotank, be and they are hereby appointed commissioners, whose duty it shall be to examine said bridge; and if, in their opinion, a draw can be fixed therein, so as not to obstruct the passage of vessels with masts, they, or a majority of them, may cause the same to be doue in the best and most economi¬ cal manner, by contract or otherwise, and, when accomplished, the said commissioners, upon obtaining a certificate from the president of the Dismal Swamp Canal Company that the said bridge is so fixed as not to obstruct the passage of masted vessels, steamboats, or other vessels, are hereby authorized to demand of, and receive from, the public treas¬ urer, the sum necessary to pay for such draw or other alteration in said bridge: Provided , The same shall not exceed the sum of two hundred and fifty dollars; and the public treasurer is hereby authorized and di¬ rected to pay the same on presentment of the certificate from the presi¬ dent, as aforesaid. 2. And be it farther enacted , That the said counties of Pasquotank and Camden shall, ever hereafter, so long as they may keep the bridge across Pasquotank River, as aforesaid, keep a good and sufficient draw in said bridge, so as not to obstruct the passage of any vessel, with or without masts, iu passing to or from said canal, at the proper cost and charge of the counties aforesaid. 3. And be it farther enacted , That, if the said commissioners shall fail to have a draw fixed in said bridge, or to have it so altered as to per¬ mit vessels to pass with masts, by the time the said canal shall be ready to admit of the passage of steamboats, or vessels with masts, then, and in that case, it shall be the duty of the sheriff of each of the counties of Pasquotank and Camden, or either of them, and they, or either of them, are hereby required to summon a sufficient force, and without delay, to remove so much of said bridge as may obstruct the passage of any ves¬ sels tts aforesaid, whenever the president of the Dismal Swamp Canal Company shall require; and if the said sheriff's, or either of them, shall neglect or refuse to remove said bridge, as aforesaid, when required as aforesaid, they, or either of them, so neglecting or refusing, may be prosecuted by said president, iu his own name, for such neglect or re¬ fusal, in any court having competent jurisdiction, and, on conviction, shall be fined in a sum not exceeding fi ve hundred dollars, to the use of the State. 4. And be it farther enacted , That if at any time hereafter the said draw shall not be kept in good and sufficient repair for the purposes aforesaid, it shall be the duty of the sheriff's of said counties, on com¬ plaint of the president of the Dismal Swamp Canal Company, to remove said bridge. 5. And be it further enacted , That the governor of the State be re¬ quested to transmit a copy of this act to the president of the Dismal Swamp Canal Company, and a copy to each of the sheriff's of Pasquo¬ tank and Camden Counties, as soon as can be conveniently doue, after the ratification hereof. 6. And be it further enacted , That this act shall be in force from and after the passage thereof. H. Ex. 10-6 82 DISMAL SWAMP CANAL. Chap. II.—An act to exempt lock-keepers on the Dismal Swamp Canal from working on roads and militia service. [Passed January 8, 1839.] 1. Be it enacted by the general assembly of the State of North Carolina , and it is hereby enacted by the authority of the same , That the lock-keepers the Dismal Swamp Canal shall be, and they are hereby, exempted from working on all public roads and from militia duty, except in time of in¬ surrection or invasion, any law to the contrary notwithstanding. Ciiap. III. — An act of the Congress of the United States for subscription to the Dis¬ mal Swamp Canal Company. [Approved May, 1826.] 1. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled , That the Secretary of the Treasury be, and he is hereby, authorized and directed to subscribe, in the name and for the use of the United States, for six hundred shares of the capital stock of the Dismal Swamp Canal Company, and to pay for the same at such times and in such proportions as may be required by the existing rules and regulations of the said company. 2. And be it further enacted , That the Secretary of the Treasury shall vote for the president and directors of the said company, according to the said number of shares, and shall receive upon said stock the pro¬ portion of tolls and emoluments which shall, from time to time, become due to the United States, on the shares of stock aforesaid. 3. And be it further enacted, That this act shall not go into effect until the United States Board of Engineers shall examine said canal, and make report in writing to the Secretary of War, that, in their opin¬ ion, the plan on which the said canal is to be executed will answer, as far as circumstances will permit, as a part of a chain of canals contemplated along the Atlantic coast; and that, in their opinion, the sum hereby authorized to be subscribed for will be, sufficient to finish the canal ac¬ cording to said plan : And be it further provided, That, to carry this act into effect, the sum of one hundred and fifty thousand dollars is hereby appropriated, to be paid out of any money in the Treasury not other¬ wise appropriated. 4. And be it further enacted, That the money subscribed on behalf of the United States shall be actually expended in the completion of the canal, and not in the payment of any debt or debts now owing by the company; and it shall be the duty of the Secretary of the Treasury, before the payment of any part of the money subscribed for on behalf of the United States, to adopt such measures as shall insure the applica¬ tion of the same to the completion of the said canal, and to no other pur¬ pose whatsoever. Chap. IV.—An act of the Congress of the United Stages authorizing the subscription of stock in the Chesapeake and Delaware Canal Company, and in the Dismal Swamp Canal Company. [Approved 2d March, 1829.] 1. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled , That the Secretary of the Treas¬ ury be, and he is hereby, authorized and directed to subscribe, in the name and for the use of the United States, for seven hundred and fifty shares of the capital stock of the Chesapeake and Delaware Canal Com¬ pany, and also for two hundred shares of the capital stock in the Dismal Swamp Canal Company, and pay for the same at such times and in DISMAL SWAMP CANAI 83 such proportions as may be required by the said companies, respectively, to be paid out of any money in the Treasury not otherwise appropriated. 2. And be it further enacted, That the Secretary of the Treasury shall vote for president and directors of the said companies, respectively, according to such number of shares, and shall receive upon the said stock the proportion of the tolls which shall, from time to time, be due to the United States for the shares subscribed. No. 1. Department of Justice, Office of the Solicitor of the Treasury, Washington , D. G.,July 10, 1877. Sir: I have the honor to transmit herewith a report made by Mr. Webster Elmes, chief clerk of this office, relative to the matter of the Dismal Swamp Canal Company of Virginia, and of the sale of the works under a trust-deed, as advertised for the 9th of August. Mr. Elmes was designated by my predecessor to examine into this matter, in accordance with authority given by your letter to this office of the Gtli ultimo. As the sale of these works, in which the United States has a large pecu¬ niary interest, is advertised for the 9th proximo, and as such sale, if made, will doubtless sacrifice the property of the company and entirely dis¬ possess the government of its interest therein, some speedy and definite action on the part of your department seems to be required. Verv respectfully, K. RAYNER, Solicitor of the Treasury . Hon. John Sherman, Secretary of the Treasury. No. 2. Office Dismal Swamp Canal Company, Norfolk, Va., June 29, 1877. Sir: I have the honor to transmit herewith the following statements relative to the Dismal Swamp Canal, viz: No. 1.—Extract from minutes of stockholders’ meeting authorizing company to borrow, for improvement of works, &c., $200,000. No. 2.—Extracts from minutes of stockholders’ meeting authorizing the execution of the trust. No. 3.—Stockholders’ meeting authorizing terms in explanatory deed. No. 4.—Receipts and disbursements of the company for years ending 30th September, 1874, 1875, and 1870. Very respectfully, your obedient servant, W. B. ROGERS, President. Webster Elmes, Esq., Office of Solicitor of the Treasury , Washington, D. C. 84 DISMAL SWAMP CANAL. No. 3. Extract from minutes of stockholders’ meeting authorizing the company to borrow , for improvement of icorks and payment of debts , not exceeding $ 200 , 000 . At an annual meeting of the Dismal Swamp Canal Oorapauy, pursuant to notice, at the office of the company, on Monday, November 5, 1866, Tazewell Taylor was called to the chair, and G. W. Camp appointed secretary— Meeting being duly organized— ####### On motion, it was Resolved , That the president and directors be, and are hereby, author¬ ized to borrow such amount of money as may be necessary for the im¬ provement of the works and payment of debts, not exceeding $200,000, and to issue bonds of the company bearing a rate of interest not exceed¬ ing 8 per cent, per annum; and to pledge the entire works of the com¬ pany for the payment of said bonds, and to memorialize the legislature for the necessary authority. No. 4. Extracts from minutes of stockholders ’ meeting authorizing the execution of the trust. Norfolk, Thursday , June 20, 1867. At a called meeting of the board of directors of the Dismal Swamp Canal Company, held this day, were present E. C. Robinson, president, and Messrs. Simmons, Whipple, Marrow, and Whitehead. * * * * # * * The president presented the deed of trust drawn up by the company’s attorney", to secure the holders of the company ’s 8 per cent, bonds; when, On motion, it was Ordered , That $200 be and is hereby appropriated to pay for the necessary stamps to said deed, which the treasurer will procure and pay for when required and attach to said deed when executed. The wording and design of the company’s 8 per cent, bonds, a proof- sheet of which was submitted by the president for the approval of the board, were examined and approved. No. 5. At a meeting of the president and directors of the Dismal Swamp Canal Company held at the office of the company in the city of Norfolk on the 16th day of February, 1869. Present: Thos. J. Corprew, president; D. D. Simmons, J. B. White- head, W. H. C. Ellis, B. P. Loyall, directors. On motion of John B. Whitehead, it was Resolved. That the president be directed to execute an explanatory deed to the deed of trust executed on the 1st July, 1867, which deed was read to the board. On motion, the meeting adjourned. THOS. J. CORPREW, President. DISMAL SWAMP CANAL. 85 No. G. Receipts and disbursements of the Dismal Swamp Canal Company for the years ending 30 th September , 1S74, 1875, and 1876. For year ending 30th September, 1874 : Receipts.. $19,962 54 Disbursements (repairs and general expenses). 8,153 66 For year ending 30th September, 1875: Receipts. 11,210 31 Disbursements (repairs and general expenses). 8, 614 58 For year ending 30th September, 1876: Receipts. 10,684 13 Disbursements (repairs and general expenses). 6,145 28 No. 7. Extract from the minutes of the stockholders’ meeting of the Dismal Swamp Canal Company held on the 5th day of November, 1866. At an annual meeting of the Dismal Swamp Canal Company, pursu¬ ant to notice, at the office of the company on Monday, November 5, 1866, Tazewell Taylor was called to the chair and G. W. Camp appointed secretary. On motion, Messrs..C. W. Newton and William Selden were appointed a committee to examine proxies nud report the number of shares present and represented. After examination the committee reported that there were present: The United States, by E. W. Whipple .. 800 168 The State of Virginia and board of public works, by C. Burrass and W. C. Marrow..--. 760 168 Sundry stockholders .. 163 123 Total stock represented. 1,723 459 1 The president, Mr. JVhittle, made his report showing the condition of the company, together with a statement of its finances, which was received and ordered to be filed, and on motion of Mr. Ellis the report with accompanying documents was referred to a committee of five stock¬ holders, who were directed to examine fully into the affairs of the com¬ pany and report as soon as possible to the board of directors to be elected. The chair appointed the following committee : Messrs. C. W. Newton, William Selden, W. W. Lamb, W. J. Hardy, and J. H. Johnston. Upon a motion the name of T. Taylor was substituted by the meeting for that of J. H. Johnston. The meeting proceeded to the election of the president for the ensuing twelve months; when Dr. E. C. Robinson was declared elected president. The election of four directors followed ; when Messrs. Marrow, Whip¬ ple, Whitehead, and Dickson were declared duly elected directors. On motion, it was * Resolved , That the president and directors be and are hereby author¬ ized to borrow such amount of money as may be necessary tor the im- 86 DISMAL SWAMP CANAL. provement of the works and payment of debts, not exceeding $200, 000; and to issue bonds of the company bearing a rate of interest not exceed¬ ing 8 per cent, per annum; and to pledge the entire works of the com¬ pany for the payment of said bonds, and to memorialize the legislature for the necessary authority. Office Dismal Swamp Canal Company, Norfolk , Va ., July 5,1875. I hereby certify the foregoing to be a correct extract from the min¬ utes of the stockholders’ meeting held on the 5th day of July, 1866, as appears from the records of this office. W. B. ROGERS, President Dismal Swamp Canal Company. No. 8. Office Dismal Swamp Canal Company, Norfolk , Va ., July 5, 1877. Sir : As requested in your letter of the 2d instant, I have the honor to transmit herewith extract from the minutes of the stockholder’s meet¬ ing of the Dismal Swamp Canal Company, held on the 5th day of No¬ vember, 1866; also copy of bondholders’ notice to trustees requiring a sale of the trust property. I am, very respectfully, your obedient servant, W. B. ROGERS, President Dismal Swamp Canal Company . Webster Elmes, Esq., Office Solicitor Treasury , Washington , D. C. No. 9. Office Dismal Swamp Canal Company, Norfolk , June 30, 1877. Sir : I have the honor to acknowledge the receipt of your communi¬ cation of the 29th instant, and in reply thereto I would say that I could only report a transcript of the books, as I received them from my prede¬ cessor, the former president, in 1871. A payment had been made by my predecessor, which reduced the claim to $888.90, as reported. (Edwards.) All of the judgments are subsequent to the mortgage. The bills pay¬ able reported by me of $21,811.77, as found by me on the books, included these judgments mentioned by you of $12,000, and $13,053.73, less $6,000 (making $7,053.73). Some other claim, unknown to me, but appearing as bills payable, must be in existence to make the difference between the amounts. The judgments in favor of D. J. Turner were for work claimed to have been done prior to the war, were disputed by the com¬ pany. Suit was brought for I he same, and it was decided vs. the com¬ pany at last. This claim did not regularly appear on the books, as it was not audited and in dispute. The claims I know of amount to some $10,000. Of course, interest DISMAL SWAMP CANAL. 87 will materially increase the amount, but I am sure I could buy them all up for oO cents on the dollar, or less, with money to do so. As requested, I send memorandum of judgments. I am, very respectfully, your obedient servant, W. B. ROGERS, „ T President Dismal Swamp Canal Company. Webster Elmes, Esq., Office Solicitor of the Treasury , Washington , D. C. No. 10. Statement exhibiting judgments against the Dismal Swamp Canal Company. Jno. M. Goddin vs. Dismal Swamp Canal Company: $12,000, with in¬ terest from September 27,1863, and costs, $17.34. Jno. M. Goddin vs. Dismal Swamp Canal Company: $13,053.72, with in¬ terest from September 3, 1863, and $1.7.34 costs, subject to credit of $6,000 as of September 11, 1863. Danl. J. Turner vs. Dismal Swamp Canal Company: $2,889, with inter¬ est from July 25, 1868, and costs, $18.31. Danl. J. Turner vs. Dismal Sivamp Canal Company: $18,328.33, with interest on $15,154.76 from May 29, 1867, and costs, $45.62. Office Dismal Swamp Canal Companv, Norfolk, June 30, 1877. W. B. ROGERS, President Dismal Sicamp Canal Company. No. 11. Chap. I. — An act authorizing the Dismal Swamp Canal Company to issue 8 per cent, bonds. [Passed December 6, 1866.] 1. Be it enacted by the general assembly, That it may and shall be lawful for the Dismal Swamp Canal Company to issue coupon bonds, bearing interest at the rate of 8 per centum per annum, the principal to be paid at such time and place as may be deemed by the company most ex¬ pedient, and the interest to be paid semi annually at such place as may be determined on for the payment of the principal of such bonds : Pro¬ vided , That the whole amount of bonds which shall be issued under this act shall not exceed the sum of two hundred thousand dollars. 2. Be it further enacted , That the said company be, and they are hereby, authorized to sell and dispose of the bonds authorized by this act in such mode and on such terms as they may deem advisable, and to give such security for the punctual payment of the said bonds as they may deem expedient. 3. This act shall be in force from and after the confirmation of the same by the legislature of North Carolina. 88 DISMAL SWAMP CANAL. No. 12. Office Dismal Swamp Canal Company, Norfolk , July 5, 1877. Sir : I annex statement of revenue of the Dismal Swamp Company, as follows: For a period of seven years prior to the war (1854 to 1860), average yearly, $36,436. Ten years subsequent, deducting three years the government held the work (1861 to 1870), average yearly, $10,i35. Seven years of my administration, 1871 to 1877, estimating the income for the next three months at $1,000 per month (fiscal year ends 30th September, 1877), average yearly, $15,392. An increase of 50 per cent, over the previous seven years, and the work in vastly improved condition for its capacity. Verv respectfully, your obedient servant, W. B. ROGERS, President Dismal Steam# Canal Company. Webster Elmes, Esq., Office Solicitor Treasury , Washington , D. C. No. 13. Baltimore, April 4,1877. Messrs. James Cormick, Cincinnatus W. Newton, and William H. C. Ellis, trustees under two deeds of the Dismal Swamp Canal Company, bearing date respectively 1st day of July, 1867, and 10th day of February, 1869: Gentlemen: We, the holders of the bonds of the Dismal Swamp Canal Company, as here below stated, the interest upon which has not been paid by said company, as covenanted and agreed in said deeds, do now by these presents request and require that you shall duly adver¬ tise and make sale of the franchises, property, &c., conveyed to you by said deed in accordance with the provisions therein contained. Names. Amount. Thomas C. Jenkins represents. $27, 000 D. H. Gordon. 1, 000 Stephen Bonsai. . 5, 000 R. Manson Smith, trustee.... 3, 000 Thomas Wilson. 15, 000 Johns Hopkins University, Francis White, treasurer. 7, 000 Joseph Merryfield, treasurer Johns Hopkins Hospital. 8, 000 James Y. Leigh and Mrs. S. F. Pegram. 10, 000 Richard Dickson. 3, 000 William Selden. . 5, 000 Burruss, Son & Co. 24,000 John B. Whitehead. 2,000 John B. Whitehead, president Franklin Savings’ Bank. 7, 000 S. and E. W. Tazewell. ... 4, 000 M. Z. Waller ... 1, 000 W. Y. Taylor...... 4, 000 John D. Gordon. . 4, 000 C. B. Duffield, for Miss V. S. J. . l y 000 DISMAL SWAMP CANAL. 89 ' Thomas Baltimore. $3, 000 F. H. Baker. 2, 000 F. H. Baker, for Misses A. Armstrong, R. Armstrong, and J. 0. Armstrong. 4, 000 I hereby certify the within to be a true copy of the original. W. B. ROGERS, President Dismal Sicamp Canal Company. No. 14. Norfolk, Va., June 28, 1877. Webster Elmes, Esq., Office of the Solicitor of the Treasury , Washington , D. C.: Dear Sir : At a meeting of the bondholders of the Dismal Swamp Canal Company, held in Norfolk, Wednesday, June 20, the following resolution was unanimously adopted: Resolved , That the bondholders present respectfully request that the honorable Secretary of the Treasury make an immediate examination of the affairs of the Dismal Swamp Canal Company, and if, after such an examination, he will agree to recommend to Congress to appropriate a sufficient amount to put the canal in thorough order, or some other measure that will save the interest of the United States, amounting to nearly one million of dollars, that the trustees be authorized to post¬ pone the sale until such time as they may deem expedient. WILLIAM LAMB, Secretary. C. W. Newton, Esq., Chairman. No. 15. Norfolk, July 28, 1877. Sir : On the part of the trustees of the bondholders of the Dismal Swamp Canal Company, and in pursuance of your request to them un¬ der date of July 24, 1877, I have the honor to report that the large ma¬ jority of the bondholders assembled in meeting, on the 26th July ultimo, agreed to postpone the sale of the canal until the adjournment of the next regular session of Congress, and that the trustees have concurred in this action. Though this posponement necessarily entails inconvenience and ex¬ pense upon the parties interested, we cheerfully submit to it with the be¬ lief that a full examination of the merits of our application will be at¬ tended with the best results. Very respectfully, C. W. NEWTON, For Himself and other Trustees . Hon. Kenneth Rayner, Solicitor United States Treasury Department , Washington , D. C. H. Ex. 19-7 O . LBJe’20