The Sumter banner. [volume] (Sumterville, S.C.) 1846-1855, 1851-02-19

not exceed the estimated amount, and it is
possible will fall below it:
Graduation and Bridging s47O,OOo
Supertructure-Iron 81 lbs.
nj present prices $4,000
Warehouses and water sta
tions 5000
Superintendcnce-if finish.
cd within two years 10000
Contingencies 6,OOO-Sl1l5,OO 900
MACHINERY
Locomotives s55,0oo
8 Passenger Cars 10000
6 Mail Cars 9, 900
60 Freight Cars $4,000 $4,000
Total cost Of Road and outfit sl $50, 900
The total length OF the Road is 1919
miles, and consequently the cost per mile
is S0.574 which Is far below the cost Of
any Road constructed with as heavy Iron,
and on SO permanent plans.
1t is believed the returns of the United
States Census, which has just been COM
plated, wiil.exhlbit an increase in the pop
ula,ioR and productions Of the counties and
districts through which your Road runs
much larger than tho average increase in
the Southern States. Until the results are
published, we have no data upon which
correct estimate can be formed Of the traffic
of your Road, except by a compariao. with
roads passing through, countries similar in
chasae frrpisfine similae6 amptintssof
7bnsrit.ss, 6Hd Uans ttiYf.s fife Mails
and through Passengers between tie
North and South. Amo :; this number is
tho Wilmington and Raleigh Railroad.-'
An intimate knowledge OF tho country
through which it passes, it's local business
and resources, enables me to institute
comparison between the traffic Of the Road
and the amount your Road will receive i'm.
mediately after its completion
According to the last report OF that Com.
pany (made In November las,) the receipts
of the previous year from the Rail Road
were as follows:
FROM LOCAL BUSINESS.
Passengers s62, ,3S2, 62
Freight 7l,O5I 26-Sl33 433 So
Mail 40,477 so ls7. $3.50 SO
Total s270,764 II
1t will be observed that the local busi.
ness amounts nearly to one half of the to-
tai receipts; and this is an increase over
the previous year of S26,235, or nearly 25
per cent. and with increased motive power
and machinery, and the Road relaid with
heavy rail, ITO doubt is entertained but a
corresponding Increase will ensuc for sew
eral successive years. The country through
which your Road passes contains larger
population, its productions are more varied
and valuable, and consequently will bear
higher ratio Of transportation than those
transported on the Wilmington aud Raleigh
Rail Road
assume il, therefore, as an ncontro-
vertible fact, that the local business of your
line will exceed, while the through passen-
gers and mail will yield the same revenue
as on the Wilmington and Raleigh Rail
Road.
Taking these receipts as basis. and
without taking into consideration tho in
creased travel which most inevitably re-
suit from Railway connection (thus dis
pcnsing with the sea voyage) and the great
er number of persons who will ba induced
to travel US the avenues OF communication
are multiplied, the speed increased and
fare reduced; and allowing the expenses TO
be one-half Of the receipts, it would still
yield dividend OF seven per cent on the
cost of the work, and leave a balance annu-
ally Of SS26,SS2 to be carried to a sinking
fund for the reduction and cxtinguishment
ofthe debt.
Now that all hope of aid from the State
OF North Carolina for the next two years
has fled, other resources must bc looked to
Ior IuSiIlB tlc TcIndlnueT OF tnC means
necessary 10 complete the Road. During
the present year the subscriptions of the
State OF South Carolina and the town of
Wilmington, and about Sl5O,000 from in
dvidual subscription, amounting in the ag-
greeate to Si5O,U00 will be available and
can be expended on the construction, which
will make total amount, together with
the subscriptions still due will be sutfi-
cient guaranty to obtain by loan the def
cheney Of S600,00O. And recommend
and respectfully urge upon the StockhoId-
ers the importance of authorising the
Board TO negotiate loan of this amount, |
upon the faith of the Company's Bonds,
convertible into stock at the pleasure of the |
holder, and secured by mortgage upon the
Road
No time could be more propitious than
the present for raising this amount by loan
Money is abundant, and the amount seek.
ing investments is greater than at any form.
or period Confidence in Railway securities
as safe and profitable means of permanent
Investment is firmly established, and the
price OF Iron much lower than at any for
mer period of Railway history. a rcvul-
sion in trade and an increase in the price
OF Iron may soon follow, and. therefore, it is
important that tho Company avail itself OF
the present advantages without delay.