The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1848-12-06

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accommodation IN Ire public which was
llse elIisf ia.luremeni With the Iesislssnre
IN aulhasizing IL rnnslruelion. lin nd
dlHion IN lie lnss of:he stock slready sns-
tanned. they shall he suhjrried In an equal
recovery on the Responsibilities subse-
qnenlly rnalrarlsd an account OF the
toad. Il will he tlnDsssr grievance. which
many aPPHheni1 will be unable 10
hesr. A pnrlinn nf them have no doubt
snfiirienl means 10 msel II wlllonI male
rial INJURY. but the larger number. among
whom are widows. orphans, clergymen,
merllanirs. planters with large families
and moderate estates. hare heretofore felt
the deprivation nf The means invested in
This rial. as calamity. and cannot sui.
fer an exaeiinn 0f like amount now with
out ruin. submit these observations
shecnming. a. IIhink. the randnr and i'm
Partially Of Chief MagisIraley with the
less r'serve from an absence Of al interest
n any time IN This work. and Of connex-
ion with any of the persons concerned
whirh could ocrasi"n any improper bias.
What may be fitting terms of accommo-
daii"n ean only be determined by the
Legislature, and can.he mare readily ne
goiiated by conference of those inlercs-
ted with Committee of your body, than
in any other mode.
The operations OF The Raleigh and
Gasi"n Railroad for The past two years.
will be fully detailed in llle report Of the
Board 0f Commissioners. The statement
Of IFS Treasurer. published in The news
papers, in analogy TO the report of the
Comptroller. on the Public Financrs, for
the year ending the Isl of November 1877,
showed It's earnings TO have been Sos,
9O2 81, and disbursements s65,457 %.
For the following year. ending November
Lat. 1913, The earnings were about S57,
600. and disbursements exclusive of extra
ordinary repairs rendered necessary by
confagralion whirh destroyed the pIin-
cipal building Of the road at Ralcigh.)
s52.479 70. Add to this the amount Of
these repairs, viz. s2s.79l %, and the sum
total oI disbursements will he SSl.27l 60.
On the night of the 25lh'ol February last,
the machine shop and engine house At the
depot in Raleigh. with All their contents of
a combusIiblc nature, having been destroy
ed by fire, and The four best locomotives
Of the road. as well as the stationary steam
engine, being seriously endamaged, il be-
came necessary TO take immediate steps
to repair The injury, or TO permit the Rail-
road with is aPpcndages " W. 90 (! aes'rs:
exigency conferred on The commissioners
of the road, | convened The Council Of
State, and submitted 10 them the alterna-
tives Of either convoking the Legislature,
special session, TO provide The needful
means, or OF mortgaging the Railroad pro-
perry for the sum of s25,OOO (lhe amount
of loss and damage occasionrd By the
fire, as estimated BY IFS President) by viz
tue Of the power conferred on The Gov
ernor and council, TO make sale of the
same. They advised the adoption of the
latter, and an arrangement was made with
the Bank Of The State Of North Carolina,
TO advance the sum required. at such
times as they nigh, he call for by the
progress Of The repairs. on bunds Of the
State. reciling ON their face the considera-
tim and deed in trust on the Railroad
and its appendant property, 10 secure
their payment. Accordingly. bonds da-
ted in April. May, and July last, amount.
ing in the whole to s25 900, all payable
the LIST January next, were negotiated and
a deed in trust executed. Some provision
is therefore necessary 10 take up these
'bonds. Designing TO place the whole
subject under the control Of the represent
,aiives Of The people a, the earliest con-
venient day, | did not propose any longer
term Of credit. IL this, however. he desira-
BILE, il doubtless can be easily affected, by
issuing State bonds at-fve years for an
equal sum, and requiring the Railroad. if
retained by the State. to pay the interest
as it may accrue. and gradually to extin-
guish the principal.
What course shall be adopted by the
State in relation to retaining or disposing
of this road yet remains a question of
great interest. Such has been the demand
for repairs and Improvements that it has
yielded no dividends tn the treasury for
the last two years. Two new locomotives,
however. have been purchased at coast
of more than $1,000 each. and the other
engines ref,,ed Except one wholly ruin
ed BY the fire before referred toy so iha.
the motive power OF the establishment
is in better condition than at any time
heretofore. New and superior iron has
been also purchased, and laid down. for
near ten miles from Castor southwark.
and the whole superstruciure Of the road
has been renewed for that distance. Very
extensive renewals have also been made
in the wood work of the line generally.
But the process Of repairing is now carri-
ed on under great disadvantage, for want
Of iron 10 relay a considerable part OF the
track, and the present earnings OF the road
are insufficient to procure il. The north
ern half of the line, over which the hea-