Semi-weekly North-Carolina standard. [volume] (Raleigh, N.C.) 1852-1853, 1852-07-17
REPORT

GaroZiua Railroad Company to the StocE"o ~
ers, at the annual Meeting beta d" I'"''FS''' o"'
July, 1852. -,,oo+;no, Of
GEST1EMEN: Since the last annual meeting OF
vour BODY at Greensborough contracts tor grao'uS
fbe balance of the road, which had not been pre-
yiouslv let have been made, and the whole hhe 10
now under contract and a large force IS no" GU
ployed throughout its whole extent, ana the pro-
rress of the grading and of the masonry 1of or'S'
culverts, &c, is very satisfactory.
Contracts for the masonary OF the orloges nave
been made at satisfactory prices, and IN Il N"
;nStoncos the superstuucture has likewise been
let.
1t will be recolected that this Board was aatnor.
sed to contract for the entire completion ol 'il'C
portion of the road embraced within the minus VI
the first division, which extends from the
ton and Raleigh Railroad to point some siA am,
a half miles west of the City OF haelSn'
the contract could be let at the original estates
of tho Enoineer. This contract has been taken by
Jobn G. McRae & Co., at those estimates and they
are required to have the contract completed oy Che
first day of January, 1854, with rail OF the oesC
English iron weighing sixty pounds per linear yard
From the progress this company is making, the
Board have every confidence i'll their full compliance
with their contract
The completion of the Charlotte and South
Carolina Railroad within the present year will give
a railroad conneXion between the South w estefh
terminus of this road and the City of Charleston.
In view of the facilities for transportation OF IRON
which this connection offers and with the earnest
desire to hasten the completion of the work, the
contractors for the last contracts let Charlotte
are required to finish their grading by the trst OF
January, 1858. So that the superstructure on
that end Of the road may be commenced at an
early day.
Should the several links now wanting, be COM
pleted which will unite the North Carolina Railroad
with the town of Portsmouth by continuous rail
way another opportunity will present itself to pro-
cure the iron on the line of this road and no good
reason is now foreseen why the superstructure from
Raleigh westward, may not be commenced at an
early dav. From the rapid progress of grading,
the Board have doubt that every part of the
road will be ready for its supestructure as fast as
the iron can be delivered along the line of the
road.
From the efforts which are making all around
lis to draw the commerce of this and the western
States in other directions than to our own sea-
ports, it behoovos us promptly, energeticaly and
at to intercept these streams of trade and give
them their natural direction eastward. North
Carolina should not be looked upon as a strip of
land across which roads may be constructed to
other seaports than our own, but she should be
. looked upon as she Is, great channel leading
EaStWard, down which the vast products of the
West will float and find their nearest and cheapest
and most direct route to the ocean. The North
Carolina Railroad is the great aUork, which, if pro-
pery managed and directed, will bring about these
vast results
By the terms of the lettings, most of the con-
tractors were required to commence their contracts
by the first of January last. Notwithstanding the
great scarcity and consequent high prices of pro-
visions and the additional fact that no pecuniary
aid has yet been afforded to the contractors they
have in most instances pressed forward with their
work IN an energetic manner, and with patriotic
determination worthy of all commentator.
The bi-monthy estimates of the Engineers resi-
dent on the contracts, for the work actually done
up to the first of July instant amounts to $780,
S66 90, and we may infer what will be the pro-
gress of the work during the remainder of the year
from the force employed on it on the first instant
From exhibit a, hereto attached, it will lie seen
that the force consisted of 1856 men, 4O3 boys,
$50 carts, so wagons, 786 horses and mules and
A oXen 1t IS fair to presume that this force will
be augmented. Crops are now laid by, and more
hands can be spared from the farms; an abundant
harvest secured, and the prospect of large CROP
1t Is to be hoped, will cheaper the price of proyi-
sions.
This Board feel that they would not be doing
justice to the contractors in view of all the oppres
sive difficulties they have had to encounter, to
withhold the expression of their profound admira-
ton OF the zeal with which they entered upon this
great work, and the indomitable energy with which
P10HN~NeSN ILlc S6lLlG 1uclf operations
present al anomoly in Railroad makine-to do the
work first, and to receive the means to do it with
afterwards. 1t will be recollected that the terms
upon which the contracts were let gave the con-
tractors no money until the first half million of
dollars subscribed by the State should be paid into
the treasury OF the company. BY the terms of the
charter OF the Company the State is not authorised
to become subscriber to its stock until a half
million OF dollars shall have been paid into the trea
sury OF the Company by individual stockholders.
The directors deeming it very important to hasten
the period of the States subscription. have called
upon the stockholders within the present wear for
1our instalments OF 10 per cent each, which with
the hive per cent paid in at the time of the sub
scnptlon, makes As per cent, which has been re-
CURED upon the individual stock. Upon these re-
QUESTIONS, there has been paid into the Treasury
up to the 8th inst, the sum of $245,l7o leaving
Sl47,6o6 90 Of estimates for work done vet to be
applied.
1t is to be hoped that the Stockholders, at their
present meeting, will devise the means. without
oppression to themselves, to raise the balance of
the half million required of Stockholders that the
State may be brought in at an early day. Every
consideration of justice and of right demands that
this should be done. Many of the contractors are
men OF moderate means. Patriotism, not profit,
was the moving cause to their liberal subscriptions
and that the great work might be driven forward
TO speedy completion, undsmayed by the diff
cultles they knew they must encounter thew have
taken contracts which they have prosecuted with
unequalled energy and perseveranoo ,,n+;l 49,;