The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1839-10-10
/ THE CHARLESTON AND CINCINNATI
RAIL ROAD.

htAb iNoAtb
The Meeting OF the Stockholders at
Ashyllle was organized ON Monday the
10th, Joseph Carson Esq. of Rutherford,
IN the Chair, and Andrew Hume, Esqr. of
knoxville, Secretary, 56,929 shares were
represented, entitled TO e6s7 votes.
Gen. Hayne presented the report Of the
Directors accompanied by that Of the
chief engineer, which were referred TO
committee Of thirteen.
MAJOR M'Nelll was called on for explain
ations. and said he estimated the cost OF
the road from Columbia 10 the State line
as not exceeding 100000 per mile, and
would cost less per mile than II had cost
from Branchyille to Columbia. On that
route they had 10 cross the Ridges while
above Columbia they would run with them
and the Rivers. AT cowectural estl-
mate, thought the road from Columbia to
Knoxville would not cost more than 81.
COO, 900, or 100000 from Branchyille.
Mr.. Holmes cnqulrcd OF the President
the number Of Stockholders that had PAID
up the amount paid, &c.
Gen. llayne stated that none had yet
been declared forfeit that the subscnp-
tlons had not been available TO the road
that had been paid IN other states, except
for surveys in them, but had been paid ln-
10 the Rail Road Bank. The Hamburg
Rail Road had cost $780, 00, OF that
amount was there invested: the Branch.
vile and Columbia, would cost when com
pletcd 81 100000.
Some enquiry wasnade Of the Engineer,
as to the cost Of The X. X. to Columbia,
which he stated would be, for GO Miles,
from BranIhytlle, 81 100000, aud u 600
per mile from butt Mountain 10 the Ten
ncssee line, or 25,1-i per mile from
BranchylIie . knoxville.
Judge liu-er, Chairman Of the Commit
tee Of thirteen, submitted their report,
which vas unanimously adopted. astoll1ws.
The Stockholders Of the LOUSY tile, 1n-
clnnau and Charleston RAT Road Company
have seen win much concern the CONNER
cad elnharraesmente which have oppressed
the country since they commenced their
enterprise 81 uniting the South with the
West, and ui restoring to the Southern
cites their legitimate portion OF trade.
These difficulties have nov come home 70
our own citizens, and united with other
causes, have in great degree absorbed
the resources upon which they relied for
the prosecution Of their enterprise. The
States Inch are concerned ii the compile.
non Of the work, have not united IN pro-
noting 1t, and many Of their cltIzen>, DIS.
hedfteaea, by tins apathy, and clnbarrass-
ed by the circumstances of the times, have
been prevented from meeting their sub
scripuonS, and We are reluctantly com.
PEELED to subject their shares to forfeiture.
Ia such state ot ,hlngs, the stockholders
find themselves under the necessity OF cur.
failing every possible expenditure and
while they are determined 10 exert every
means IN their power faithfully u perform
all their obligations, they are compelled
for the present to limit the progress Of the
work within the resources which are left
them By the change Of circumstances.
Therefore,
Reselssd, That III the resources ofthe Com.
pany be nh It'd to meet the.r present IN
gasemsnts, and to finish aud put IN o1 ration the
70 1elo~ Co!unbi1, aud that no further wark
b. ind ri ken until these OBJECTS b. accomplished.
Resoired, Tlat taF % much Of the portion
Of hls work as IS alre.t under roalr.ct, lhe Pr
sldent aud Directors make such n ngttnent- for
adjusting ptyneuts as n their .i4cretIon a4y b.
dretaed best inst uaa contr CT. or tue progress
81 the same shall only be made a. thc resources
to Ply kHall become avail bic to TIE company
nd that tbr RI sideul aud Directors ~ ke such
Arrangements. for the preservation Of TIE work
winch may thus Be delayed, their judgment
may alctate.
} Resaired, That rigorous system of econ.
omy should b. pursued, tie Engineer department
be reorg uized 10 such manner rs tn Precedent
and Directors ~ deem Uest, and thai Hoexpense
OF any kind be incurred which nj not b. lbso.
iuifiy nscess7 ~ 10 tire work + Tow Columbia
] Res9trea, That the stockholders Of this
Co pany deem 1t Of the utmost importance TO
ply UP the amount remaining dine Tor the pnr.
eaase q the Road from Charleston 10 Il sudurg.
and they 10 hereby .ut4orisc tns PnsiJpm aHt
Directors to make IN their discretion u such ~.
Engagements. a. may Il tolud neces- ~, 70 mise
the. mount required for the 81. nee oil tas Fur.
chss fh-t they IL authorised 70 aofrow the
money on the pledge ot their stock IN thai road
and upon tie responsibility oil Doth CO ap4hIcs.
and that tn 'be last resort they are authorized 10
ppiy to tie Lagisi ture 81 South Carolina, ard
to make any Htngements that may b. deemed
proper to secure that state for any advance or
relief, which size may be disposed TO afford
5 Reatesd, Ibt with hrn determination
to proceed as speedily their means will permit.
tins Company earnestly de4lre to meet Their *.
tstng engagements, ana 70 complete the road
iron BElncHYille 10 Co'anbil, and they do here
by autlorise the Directors Of the Company for
these purposes, 10 make calls for iud4linents. at
suclt times - IN their discretion NAV be detued
bert that an earnest appeal 5e mtd5 by The Pre-
sident, calling upon the stockholders to meet tho
instruments required, lBd that the President and
Directors he farther authorized TO maze ar,fpgr.
meuts with the Stockholders, to obtain advances
on their subscriptions on such terms as may be
deemed advantageous
=. ReS9tred, Ttat this Comp now rsiterate
their declaration that without the united ,sste.
lance Of the States through whose territories the
road IS 10 pass, the work nnc4 be accomplished.
and they now make Their rolsfan appeal 10 those
stdtes, and are compelled to declare, that unless
they speedily and cordially Cooperate, tho Conp4
ny "lll be unable to progress with the cuterprise.
No.