Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1849-01-26
agpas = seeg From the Commercial :
10 THE 8 ca e
STOCKHOLDERS
wss IN THE
WILMINGTON AND MANCHESTER
q RAIL ROAD COMPANY.
From The Commercial iIII,. !

In submitting my first report foryour consideration
affords me pleasure to be able to congratulate DE
Company upon the new and favorable aspect our
enterprise has assumed since your last annual mee-
ting both in respect its prospects of success and
the favorable consideration of the public. s=zt
From being one of those projects, which was talk
ed Of. and which with many was regarded as to be
talked fmerely it has taken practical steps which
give earnest Of determination to press forward
and assume its position amongst the kindred enter
prises of the day. ~ g.
At the last annual meeting of the Stockholders,
resolution was adopted directing the Board of Di-
rectors to ascertain what proportion of the Stock
was in favor of repeating resolution Of the prece
ding meeting requiring $3.50 900 to be subscribed be-
fore the work commenced, and if it appeared that
those representing two thirds of the Stock will
ling to waive that requirement, and commence work
before that amount subscribed that they be re-
quested proceed to the final location of the Road
and put such portions under contract for grading
could be let out for that purpose.
| Ga the I'd of August succeeding the meeting at
Darlington meeting of the Board of Directors was
held at Wilmington, at which the Directors reported
that the Stockholders owning more than two thirds
ofthe Stock subscribed, were DESTROYS of common
cling work before $4,000 were subscribed, and
waive the benefit Of any such condition, so far as
their subscriptions were concerned. Whereupon the
Board passed Resolutions instructing the President
forthwith to employ Engineers and commence the
location of the Road, and when located to give out
contracts for grading. .<.s.
Pursuant to these directions with the concurrence
of Committee appointed with me for that purpose,
Immediately appointed Mr.. Walter Gwynn, of Viz
ginia, the Chief Engineer, whose valuable servi-
ces, upon application, were rendered upon terms
highly creditabe to the public spirit which charac
terizes that Gentleman.
The arrangement with him was that he was to
have the appointment of the Principal assistant and
the Corps of Engineers, subject to the approval of
the President. .-- 1924. s.
corps of Engineers was organized to commence
the location at the Southern terminus of the Road,
under L. J. Femming, Esqr., principal assistant
in September last and has been constantly engaged
since under his direction.
| The zeal, and unwearied perseverance and atten-
ton of this Gentleman to the due entrusted to his
charge, can say without fattery merit the highest
/ commentator, and has tended more to give con-
| fdence to enterprise in the region where his
labors have progressed than any other circumstance
The first object of the party to obtain a favor
able point on the Camden Branch of the South Car
olina Rail Road, to commence location. The
| very heavy grade which was required at the point
made by the experimental survey, required the sur
vey of the other line; running up Beech Creek
near Statesburg, and another four miles below
the experimental line running up Shank's Greek.
The latter route presents the most favorable grade
but the distance was increased to such extent
rendered it proper to defer for time the final loca
ton of either route to Sumtervile as it was hoped
that acompettion among the citizens, each route
would induce large subscription upon condition of
giving them respectively, an oportunity of compel
ing with each other, and thus enable to decide
| which would beTnest favorable to orr interest
For a full report upon the advantages and dis
| advantages of the respective routes, beg leave
to refer you to the report of the Engineer herewith
fled
To avoid delay in the adoption of either route the
party commenced the location of the Road at Sum
terville point common to each of the lines, and
proceeded towards Lynch's Creek with the location
IA distance of twenty four miles) upon arriving at
which the contracts for grading let out to be
paid for entirely in Stock. They taken readily
upon the most favorable terms to the Company and
l am happy to say have been commenced by the con-
tractors, with an energy which ensures an early
completion of that portion of the work. .
The location was continued from Lynchs Creek
to within ten miles of Darlington Court House, in
compliance with the charter and thence to the great
Pee Dee River, distance of 43 miles, At the River
the party made the thorough and aborious in
vestigation; necessarily consuming some time. with
the view of obtaining the best crossing but upon
full trial. favorable point could be obtained
| Than fhoIi ~
experimental survey. e lae #
] The crossing of this River will be the most diff
cult and expensive portion of the work, of the same
extent and kind if however las is hoped there can)
granite of the necessary kind can be obtained for the
building of Arches and abutmcnts of the Bridge
near Cheraw, it will greatly lessen the expenses OF
transportation of this article. ...- .-. E; -
Proposals have been invited, through the news
papers, for contracts on the joint, from Lynch'e
creek to the Great Pee Dee rivers and notice given
that contracts will be let out on the first proximo
when, from the preparation making by the Stock,
holders in that quarter and the interest manifested
there it is not doubted that the contracts will be ia
ken to be paid in Stock the most favorable terms
1t is believed however, that if small proportion
of money agreed to be paid in these and othe1
contracts, the subscription list would be considera
vantageous terms to the Company But owing t.
the pressure in money matters and the low price o
our staples, the Board have not felt themselves a
liberty, without instructions from the Stockholders
to call for second nstament for this purpose unit
at least greater proportion of the first nstalment
not received in cash upon subscription, has beer
paid in; which you viii perceive by the Report 0
! the Secretary and Treasurer herewith submitted
+ has not been to great extent as desirable
although he has used active diligence in trying II
realize it. 10. .... a-. r.. -a...- =.a. f. ...rs
: Owing to the great difficulty of procuring compe
tent Engineers, the location of the terminus at VIII
mington has not been commenced as as wa
desired. corps, however, has been organized, an
i have located from the west side of the Brunswic
river, to point near Liyingston's creek, whic
: stream they viii reach during the present week.
Proposals have also been invited for contracts 70
grading, on the joint from the commencing poin
to Liyngstons creek to be let out the 9th ins
+ The Board, however take pleasure in stating tina
all the preliminary arrangements have been compile
ted for securing the terminus to the river opposit