are in debt to the State
15,000l. Many reasons may
be urged to
induce the legislature to take so many of
the unsubscribed shares,
as amount to that sum;
they certainly would be more ready to do
this, than
to relinquish a claim for the interest for four or
five
years, as we proposed last winter. Whilst we are
obliged to
pay 900l., per year, interest on the
above
debt out of the tolls, we will not be able to divide
to
the stockholders more than two per cent, as a
dividend. Perhaps some
other way may occur to
thee to propose, for them to afford us
pecuniary aid.
The claims of the people at Still-Water
are not
yet satisfied. Suppose the directors were to lay a
requisition, payable 1st May next, and
the stockhold-
ers refuse to pay, the comptroller would pay for
the
shares held by the state, the claimants might then be
paid;
the corporation dissolved, and the whole stock
of the Northern
Company belong only to the state.
I take the liberty of sending
those hints, in hopes thou
wilt be so good as to improve them, and
if it meets
thy approbation, to draw a petition to the
legislature
on behalf of the Western Company, containing
some-
thing like what I have mentioned in the preceding
part of
this letter, and a copy for the consideration
of the Board, with
such further remarks as will occur,
to be sent to the vice president
as soon as possible.
Thou wilt excuse my anxiety to have, this
commu-
nication early, as I expect to leave here for the
north,
and soon after the assembly meets.
The attorney general says, he had a good deal of
conversation with
thee, relative to the proposed law,
to fix a punishment for small
offences, and for regu-
lating county prisons. I beg to remind thee
of the
plan I proposed, subject to thy improvement, viz. In
each
county prison, to have as many rooms (or cells)
made as is
convenient, six by eight feet. A single
justice to sentence an
offender to be confined therein,
from twenty-four hours, to ten
days. Three justices
to sentence a criminal for thirty days, and the
Court