Annual report of the President and Directors of the Albemarle and Chesapeake Canal Company

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SEVEJ\fTEEJTTII AJiJ^fUAL (EE(PO(BT
OF THE
PRESIDENT AND DIRECTORS
OF THE
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FOR THE
Fiscal Year Ending September 30th, 1872.
NORFOLK:
Printed rt the Journal Company's Book and Job Office.
1872.
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LIST OF OFFIOEKS.
PRESIDENT:
MARSHALL PARKS.
SECRETARY AND TREASURER;
B. F. TEBAULT.
AUDITOR:
A. C. PO^VELL.
COLLECTOR;
ISAAC H. PARKER.
To fJie Stochliolders of the Alhcmaiie and Chesapeake Canal
Company
:
In submitting the Seventeenth Annual Eeport the President
would inform the Stockholders that, with the exception of a
very few days, when the canal was obstructed by ice and by the
sinking of a steamer, the navigation has not been interrupted.
The explosion of the propeller " Rotary," which occurred on the
10th of May, prevented the passage of the larger steamers for a
few hours. The steam dredges have been employed from time
to time in removing the shoals and land slides which frequently
occur. 'The exclusive use of steam on the canal will, perhaps,
always require a greater amount of labor in repairs than in
those canals in which it has not been introduced, in consequence
of the greater velocity of the boats and the peculiar application
of the motive power. The momentum of so large a body passing
through so narrow a channel will, no matter what propelling
power be used, cause a displacement of the water, which will tell
eventually upon the sides of the canal, unless they are protected
by a good turf or other covering, which would enable them to re-sist
the wash. There are several sections of the canal passing
through deep land cuts, which have been washed to a considerable
extent, the banks of which are so elevated that the cranes of the
dredges are not high enough, nor the dipper-handles long enough
to deposit the excavated material over them ; so that all we can
do, until we have a machine of greater hoist to place it over the
bank, is to deposit it on the sloping sides, down which it is liable
to be washed again. Near the outlets of the canal, however,
the debris has been carried out by the mud boats and deposited
in parts of the river not used for navigation. The time and ex-pense
incident to this plan of disposing of it, preclude its adop-tion
in sections distant from, the termini of the canal. To
obviate these difficulties a floating boom derrick will be procured,
which, it is believed, will accomplish the object at a moderate
outlay. This floating derrick will be employed hereafter with
the dredge in all deep cuts, and the excavated material taken
from the bottom of the canal will be discharged into buckets on
the derrick and elevated by steam power sufficiently high to be
thrown over the embankment. In doing this, care will be taken
not to destroy the vegetable growth on the slopes of the canal,
which is so essential to its preservation.
LIGHTS AND BUOYS.
The want of suitable lights on the rivers and sounds continue
to be felt by the numerous steamers passing through our naviga-tion.
Every eftort has been made to induce Congress to make
the necessary appropriation for these lights without success. The
application will be renewed again, endorsed by the Board of Trade
of Norfolk and by several naval and army officers, who can tes-tify
to its importance. It is hoped that permanent structures
will be erected by the government, at least on the sounds. In
the excavated channels, and at the entrances of the canal in North
Carolina, lights are required, which it is proposed to be erected at
the expense of the company. With this view, experiments are
being made with the self-acting light invented by Doctor S. K.
Jackson, which will materially lessen the expense, as no light
keeper will be required to attend to thorn.
FAIRFIELD CANAL.
Agreeable to a resolution of the Stockholders, passed at our
last annual meeting, a contract was entered into with the Fair-field
Canal Company to excavate their canal in Hyde county,
North Carolina. Work v/as commenced early in January last,
and continued until the 1st of August, when the sickly season
and entire failure of the dredge employed, caused a cessation of
the work. A new steam dredge is now being constructed, which
will be placed on the canal when completed. Three-fourths of
the canal lias been deepened to its required depth, and the re-
mainder, together with the necessary docks and recesses, can be
completed by the ensuing Spring. The total actual cost of the
work so far accomplished, without any charge for the use of the
dredge, has been $6,610.90.
LA\V MATTERS.
The suit of Willett vs. Albemarle and Chesapeake Canal Com-pany,
which has been pending for several years in the Circuit
Court of Norfolk county, has not yet been decided. The ques-tions
involved in this suit are of great importance to the company,
and if decided adversely may, and most probably will, lead to
other litigation. The first trial occupied about two weeks, and
was not concluded for want of time, the court being compelled to
adjourn before submitting the case to the jury. Upon the second
trial the jury failed to agree and were discharged. The jury
empanuelled for the third trial found a verdict against the com-pany
for $5,000, which was set aside by the court and a new trial
granted, which has not yet taken place.
The sum claimed by Willett for damages is $7,000. This claim
is based upon an allegation that the company, by the construc-tion
of its canal, took possession of a part of Wiliett's property,
and so obstructed the flow of water to his mill as to render it
nearly worthless. The company denies the injury alleged, and
makes the further defence that the mill is situated on a navisra-ble
stream, and that, under the act of the General Assembly of
Virginia for opening, improving and extending the navigation of
the rivers of the Commonwealth, the rights of Willett were sub-ordinate
to those of the company.
A compromise of the suit was talked of by the respective
counsel, but not arranged. In case a compromise upon such terms
as the company may approve cannot be made, and there should
be a verdict against it, due protection of the interests of the
compan)^ demand that an Pvppeal sliould be taken to a higher
tribunal.
LOCKS.
The tide lock (the only one on the lino of navigation) con-
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tinues to work well. The gates which were reported in bad Gon*
dition at our last aiinaal meeting (with the exception of one
pair, which was replaced,) are still there. Arrangements have
been made for an entire renewal. Two pair of iron gates and
one pair of wooden gates are in course of construction. The
iron gates are a novelty in this country, no canal having, as yet,
adopted them. It is believed their durability will compenso.te
the company for the additional outlay in their construction.
—
Having erected two pair of wood and two pair of iron gates
at the same time, and in the same lock, will at least test their
respective merits.
ATLANTIC, CHESAPEAKE AND OHIO TOW BOAT LINE.
A charter has been obtained from the Legislature of Virginia
for the " Atlantic, Chesapeake and Ohio Transportation and Tow
Boat Company." It is to be hoped tha.t some enterprising per-sons
may be found to engage in this business; a finer field for en-terprise
does not exist. The business of this canal, together with
the Seaboard and Roanoke, the Atlantic Mississippi, and Ohio,
and Chesapeake and Ohio railroads, and the James River and
Kanawha canal, with several rivers of Eastern Virginia, require
an amount of tonnage which would give profitable employment for
a very large line of first-class boats. The towing on Chesapeake
Bay of first-class canal barges, suitably equipped, has been
carried on for so many years that no fear need be entertained as
to its safety and practicability.
CHESAPEAKE AND DELAWARE CANAL.
The throucrh business of the interior water-line has increased
during the past year. Railroad ties, shingles, and a large quan-tity
of timber, are going North via the Chesapeake and Delaware
Canal. For the want of suitable boats to carry it forward, a large
amount of tonnage is lost to this canal, which takes the ocean route
from Norfolk in consequence. If a regular tow boat line were es-tablished
on Chesapeake Bay a vast amount of the heavy products
of North Carolina and Virginia, bound Northward, would avail of
this route ; but the want of suitable boats for its transportation
prevents its greater increase. Timber in rafts, through the canal
from North Carolina, is being towed very successfully up tlie Bay,
and then via canals to Philadelphia and New York.
flEPAIRS AND IMPROVEMENTS REQUIRED ON THE ALBEMARLE
AND CHESAPEAKE CANAL IN 1873, AND INTEREST ON BON-DED
DEBT.
One pair Wooden Gates for Lock $1,200
Two pair Iron Gates for Lock . 3,600
Two Bridge Houses 1,800
One New Dredge 12,500
Repairs on Canal 6,500
Removal of Logs 1,250
Repairs on Bridges 1,000
Light Houses and Beacons 2,000
Repairs on Collector's House 650
Interest on Bonds 28,000
Removal of Shoals in Rivers 3,500
$62,000
Completion of Fairfield Canal 8,000
$70,000
The amount required this year will greatly exceed the sum
expended in previous years, owing to the necessity of renewal of
the lock gates which are now entirely worn out, also the construc-tion
of new dredge bridges and keeper's houses, completion of
the Fairfield Canal, &c.
All of which is respectfully submitted.
MAKSHALL PARKS,
President.
Statement of Receipts and Disbursements of the Alhcmarle and Chesa-peake
Canal., for the fiscal year endbuj September 30, 1872.
872. To balance, as per annual account, 30th Septem-ber,
1871 $10,902 79
To receipts from Tolls $60,846 64
Towing 10,859 61
Percentage on toll orders 579 30
72,285 55
Coal 851 61
Kent of depot and wharf. 928 00
United States tax reserved 420 91
Old dredge, iron, Fairfield
Canal, <fec 889 40
5,778 26
EXPENDITURES.
5 y paid for attendance and repairs of bridges Nos. 1, 2 and 3 $l,5fii 03
For attendance and repairs of locks 3,466 42
For labor, pile-driving, removing logs, &c., removing
shoals, dredging, and placing stakes, including fuel
for dredge, &c 13,987 85
For lights 40 33
For Coal and Oil for tow-boats $4,440 81
For repairs for tow-boats 4,567 81
For Wages and Provisions, tow-boats 5,787 99
14,796 61
For rent and repairs of depot and wharf. 1,302 00
For United States internal revenue tax 339 50
For coupons from bonds of Company 26,562 00
For stationery, printing, advertising, revenue stamps,
traveling expenses, also law fees 2,462 17
For salaries of President, Auditor, Collector, Treasurer
and Clerk 5,924 91
Fairfield Canal improvement, Hj'de county, N. C 6,610 90
For taxes to Currituck county, N. C, &c 295 43
For large float for clearing canal of logs 3,000 00
For measuring rafts 4.35 01
Balance 4,094 10
$85,778 26
To balance on hand 4,994 10
E. & O. E.
B. F. TEBAULT, Treamrer.
Office A. & C. C. Co.,
Norfolk, Va., 30th September, 1872.
AUDITOR'S KEPOHT.
}
Office of the Albemarle and Chesapeake Canal Co.
Norfolk, Va., October 24th, 1872.
To the Directors of the Albemarle and Chesapeake Canal Company
:
Ge2^tlemen :—I hereby respectfully report that I have made
minute and rigid examination of all accounts as shown by the
books of the Company during the past fiscal year, and find them
correct. In making my annual report I am always tempted, and
cannot at this time refrain from making a complimentary allusion
to the orderly and accurate system of accounting for monies re-ceived
and disbursements made by our present Treasurer. No
monies are paid by him (even the most trifling amounts) except
upon properly certified vouchers presented and receipts given.
There is a satisfaction in knowing that while we are in the re-ceipt
of no dividends upon our stock (and from present appear-ances
no very encouraging prospects before us), yet that there is
a judicious use oi all the monies received and a strict accounting
of every expenditure.
Respectfully submitted,
A. C. POWELL, Auditor.
Statement of Affairs of the Albemarle and Chcsapeakr Canal Com-pany^
30/7i September, 1872.
Authorized Capital ?1, 500,000 00
LIABILITIES.
iStock held by State of North Carolina §350,000 00
Stock held bv County of Currituck, N. C 44,000 00
Stock held by individuals 494,100 00
• §SSS,100 00
Bills Payable, 5,000 00
Open Accounts 850 00
Totalliabilities 889.3.9.30 00
Liabilities as above |!893,950 oo
First mortgage bonds issued 400,000 00
Total liabilities, including bonds issued $ 1,293,950 00
ASSETS.
Currituck County bonds„ $l,.30O 00
Cash 4,S94 10
Total assets (Canal property not included) ,- $6,294 10
Norfolk, Va., September 30, 1872.
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Comparative Statement of Tolls and Toiclnrj received daring the years
ending oOth SejjfemLcr, from 30(h Sejptemher, 18G5, to 30/7i Sij)-
temher, 1872, inclusive.
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REPORT of Xamher <tnd Chms of T'cssc/.s paxsing through the Albe-marle
and Chesapcalr. Canal for the fiscal year ending 30#7i
September, 1872.
Year.
17
List of Steamers navigating the Albemarle and Cliesapeahe Canal,
number of passages and amount of Tolls paid, for the fseal year
ending 30^A September, 1872.
NAMES.
Astoria
Argo
Abbey
Annie Wood
Admiral Farragut, (U. S.).
Arrow Mills
B. Fletclier
Ben Minder
Cygnet
Currituck
Commerce
Caswell
Clarion
Chowan, (CD's Tag)
Croatan, (Co's Tug)
Dandelion, (U.S.)
Elizabeth City
Ellsworth, (U. S.)
Endeavor, (U. S.)
Emma
E. B. Lane and Barge
E. Ludlow and Barge
E. Dunn
E. Shaw
E. Chamberlain
EllenSmith
E. A. Stephens, (U. S)
General Poc, (U. S.)
Guiding Star
Carried Forward
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TOOETUEU WITH TIIK
Cliesapeale & Belaiare Caeal ai Belawarc & Rarilaii Canal,
FORM THE GREAT INLAND NAVIGATION FROM
Shu jjjorh, ^hihukljflm c? iJiilfhnare
TO
Jlorfh ^iiroUuii and flic 3oufl(,
By Canals and Inland Naviiiatiiin tor Steaujboits. Sailing Vessels, Rafts,
&c., avoidinjj; the daiiirers of Hatteras aid the cuast of
NiMth Carolina
—
s.ivin^ time and in>urance.
DIMENSIONS OF CANALS AND LOCKS:
Albemarle and Chesapeake Canal,
Chesapeake and Delaware Canal, -
Delaware and Raritan Canal,
Erie, of New York, -
CllKliS.
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00032731107
FOR USE ONLY IN
THE NORTH CAROLINA COLLECTION