The Sumter banner. [volume] (Sumterville, S.C.) 1846-1855, 1851-02-19
Office of the Wilmington and
Manchester R he. Company.

MARION G.. H., JANUARY 20, 1851.
To the Stockholders Of the Wilmington
and Manchester Rail Road Company.
GENTLEMEN Presidcn, and
Directors beg leave 10 submit for your
consideration their Third Annual Re.
por, Of the affairs and condition Of The
Company.
For full account Of tho progress of
the work, they beg leave TO refer you TO
the report Of the Resident Engineer,
Mr.. Fleming, herewith submitted. Ii
will be seen that the amount Of work
done during the year past exceeded that
of l649, in excavation and cmbnnk.
,ment, by l33,3S5 cubic yards, and thu,
the increased value Of I'LL the work Of
shat year, over the year ls49, is Sl5,.
/ sIIssie whole Of lI,e work Of The
last Yeaf, 40 Oh, Inns been paid COR.
sssiin ..iie ssioclt Of Tho Company, excep,
S4.166 81, which was paid :;s cash, 10
contractors at and near ,hr western ter
minus Of the road. The increase in
work has no, been such, however, as we
had n right 10 expect at our last annual
meeting, from the contracts then taken
aud in progress. The causes, then mp.
pretended 10 some cxlrn, by the Board,
have been alluded 10 by tho report of,he
Engineer, why many f@thc contracts
have not been completed entirely, and
why few have been given up by the
contractors. II is believed, however,
that though we mny have to pay
Ihigher price now for the work, that ar
rangemenls will be made so us not 10
cause as much delay us was at one
time aPprehended in the commencement
of laying down our Iron, which under
our contract for that article, will
commence arriving during the present
month.
The Board, n, their meeting in May
last, in conformity with the wishes ofthe
Stockholders, expressed in their meeting
in January, instructed the President 10
contract for three thousand tons OF rails,
to be delivered in January, March and
May, Of the present year, to be paid for
in cash rs received, and also 10 make
arrangements 10 meet the payment
therefor out of the subscription Of tho
State Of South Carolina.
In accordance with this order Mai.
Gwynn was requested to close contract
wiki James Dunlop. Esq. ,ofPe,ersburg,
Agent for Cruilwell. Allies g. Co.,
Wales, for 5000 tons Of II. rails, 10 be
delivered and paid for US directed. and
contract with proper specifications was
accordingly entered into OH The 3ls, day
of May last. providing for It's delivery
at shipside in Charleston, at $Il per ton,
freight, duty and insurance included.
The first cargo has not yet beer re-
ceived, though from information from
Mr.. Dunlop, in November last, il is
daily expected TO arrive. Provision has
been made TO meet the payment Of The
amount contracted 10 be delivered dur
ing this month, aud we feel no appre
hepsion That we will not be ready for tho
rest.
On the 10Th inst. the requisite proofs
required by the act of tho South Caro-.
lima Legislature, passed in ls4s, max.
ing subscription Of S20O,OOO 10 the
stock of this Company were produced,
and the first Sl0O,0O0 provided to be
paid ny that act was received from The
Comptroller General, by the transfer of
, eight hundred shares of tho Stock
of The South Carolina Raj, Road
Company, with the full amount (sl25
per sharc) paid in. This Stock has
been placed in tho hands of our agents
IN Charleston TO be disposed of MS, we
may deem brs, for our interests here
after. Sufficient assurances have been
had that wc could rcccivc by loan
with The pledges Of The Stock, any
amount which may he rcanircdio meet
the payment IN our Iron, and The I'M.
proving condition and prospects of The
Stock nt present indicate lhc propriely
Of holding it, nt lnusl lilIniieraler Die
f'rihcomng report Of 'hc'Prcsi'lrnl a,n|
Directors of the Soul, Carolina itnil
Road Company, which, ]! is unlcrsIo,A,