The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1851-04-02

ank Of the Catawba river, which intimation
sas carried into effect by q meeting Of the
Nsr,h Carolina Stockholders al Charlotte, 10
April, ls4s, al which was present. Asd
!, a meeting of the Directors at Chesterville,
IN the 18th of January, ls49, the North Ca.
-olina Stockholders again through their Dl.
reclors requested that The fourth and last sec.
ion of The Road from the river to Charlotte
might be let, and gave the balance Of their
stock for that purpose. And in compliance
with their wishes, the work was let BY the
Chief Engineer in April, lS49-to be CON.
menced by the lst of October, Of the same
yosr. The above facts can be subs,anliated
BY the official Reports of the Officers Of the
Company, and go clearly 10 prove two things.
FIRST, separate Treasures for North Carroll
na aud South Carolina Stock and secondly,
that the North Carolina Stockholders have
always had an exclusive control OF their funds,
and TO them alone Contractors on the Sd and
4th sections Of the Road have to look for pay.
ment. The advance, then, Of 81 900 in cash
out Of eur Treasury, and no doubt large a.
noun, OF cert,fc ates taken in pay ment Of work
done on their divisions, and passed to the ere.
d, Of South Carolina Stockholders 10 pay
m.nt Of their stock, so far from being consi.
dered as a matter Of course on the part OF
North Carolina Stockholders, should have
been regarded as a matter Of favor. And
the Withholding Of cash payments in fuiure,
should have afforded no grounds Of complaint.
| have been thus full ia my explanation O:
this matter, although the passage Of the res
olution was mere nclden, and not an object
Of the meeting. A few days previously to
the assembling Of the Board Of Directors,
received letter from Mr.. MuIdock. our con-
tractor for the masonry al the Catawta n.
yer and at Steel and Sugar Creeks, stating
that checks given him on the North Cmoll-
ma Treasury had not been paid, and that he
vas veiv much .trsitened for the means 10
carry on his work. As the Board was in SEES.
sion for another purpose, thought it my du'
" to take council of It in relation 10 the nat
Ter, and hence The passage OF the resolulpn.
But am free TO coafess that had already
given notice to Capt. Brady, our Treasurer
that such was the demand upon our Urea.
sury for Engines and other purposes, AID such
had been my embarrassments from tho pay
nents already made, that he was 10 N IKE no
more advances te contractors who wee 10
look to North Carolina funds for paym1t.-
Again, let me ask every candid North Caro-
llnlan, what excuse could fail 10 procure a
sufficient amount Of cars and engines o d.
the transportation of the Road, OF What may
be still worse, If for the want Of means, the
Read should fail TO reach the Cata~ bs nver
where we have already procured iroa to lay
The track Would II be satisfactory 10 then
TO say that we have spent your money, at a
point beyond the river, where the grading
will no, be needed 70, some time to come and
when our wants al home we're immediate and
pressing. Mos, assuredly such an apology
would be most lame aud impotent. But lei
US for the sake OF argument assume wha
A Dr.. Fox cons,dsrs true, that there 10 hut on'
Treasury, and that, therefore, we ought L
o paw out our funds unfortunately to vi con
= tractors. Ii such was the case, let me asl
n him, have the Directors dealt on, equal jas
= llce 10 the South Carolina and North CaToIi
ma Stockholders Why have the former bee
q called to pay seventeen instruments, while IN
# after have only been required TO payup -four
!, teen. cannot but believe that every can
:, did man when he views this question IN II
n proper light, will come to the conclusion tina
n the Directors to have acted otherwise tina
70 they have, must have gwen offence 10 ol:he
- South Carolina or North Carolina StockholC
ers. So much IN regard TO the secondchafg'
5. In relation 10 the thlrd charge, tia, r,
h solution that was passed directing . comp'
D. tsnt force TO be placed on the road 10 insur
rs il, completlun to Chestervle by the first
IS October, had excited a suspicion among III
G. North Carolina stoc khoders that the road
70 10 be stopped at lha place, and that their II
ne lefest is not to BIO cared for after the roa
r. shall have reached that point. That SIN
10 pie resolution Of the Directors, expressive
70 their views as to tue time when the roa
Ut might be finished up TO tina, point, al tin
d, when the community would require It,
10 take he crop Of the p eseHt year TO marke
should have been construed mo an act OF b.
Y faith on the part Of the South CsfoiIna u
z rectors or Stock holders with design TO s't
ID il here, or could have been Interpreted ~
Of feelings OF indifference to the interest Of Nor
OF Carolina, when the road shall have reacht
that point, does appear to me most eItrao
n. dlnary, aud conveys with I! charge o, u
Id graves, character. Nor can | perceive
Is what process. Of reasoning, an unPrejudic'
II. or ingenious mind could come TO such ca
m cusion. When, IN the history Of any Ra
Of Road enterprise, have not the Directors, fro
ID time to time, announced TO the Stockholde
n that the road would reach gwen points
is certain times and has not this lnfot matte
l. ~,
n latlon rather than Of suspicion, as giving mo
n. unequvoca evideuce Of us progressl
would ask, mos, emphaticaIy, when ar
n where did The South Carolina Stockholders
\, their officers ever exhibit the leas, symptom
te Of bad faith N carrying out this enterprise
l. II 10 he fund IN Their ffsi act Of secutin