The Sumter banner. [volume] (Sumterville, S.C.) 1846-1855, 1852-03-02

" D.
the sales. These sales we're all at
par value, and it is believed that if
arran ycmcnts arc not already con.
summatcd, they soon will bc. to dis.
pose of the remaining s24, 800 on
the same terms.
The proceeds Of these bonds were
specially appropriatcd by the meet.
ing Of Stockholders in January last,
for the purchase of iron to be deliver
cd in Wilmington. A. contract for
5000 tons Of iron rails was made in
April last with the E!lbcrvalc Com
pauy to be delivered in Wilmington
during the month of November last,
and the present month. Tho con.
tract is herewith submitted for your
examination.
The iron has not vet ar,ivc1; but
Mr.. Fleming, the Ersilcnt Enrincer.
has received advic,s thot 72:} tons
,rn ~, t,o w.,, ,,a ,o,,; III,
rrach W;,m;p.,ton by tbn 1.;t ,,rox;
N, as Won vii 50. H., lis rn,ort
h.,cv;,i, snlun;,,c1
,Th;s 5000 tons nf iran &c w.,, -
t,,,t q ntror.c1 f,r VIII N,.ssrs
E,;,v Rrothrrs &. % l7oG0 ,nrs
and nil FIAT j. rcou;rcl for ,ur rn,;rc
.t,adl 70 be nn,;rrI ,rr.nn,,,. ,,n
Board have determined r. D.,nl ~
the Custom lIonsns ot C,horlrston onI
WILMINGTON and nav the duties WHEN
rcouir.I for tn, w,r,, ,,ov;,l..d ,l,ry
should not succeed il an .,,,l;r,,;nn
to Concrcss. now pcudjur to rrant
an extension Of t;,nr +, T,cm nnnn
the duties, and receive the ,ny,ucu,
thereof in mail service. Gan nrr,u,r.
mcut made with the Wilmington X
Raleirh Kali Road Comnauv \ few
wears since II is bo,cG Ln,yrocr
this latter arran tc,ncnt NAV bo affect.
cd in Congress, and if So orr ,Comno.
Se: rg!siyeAI pf. "a cast 6-ZI7Nntn
ture for duiic-~} one am Juutiny tn
near ;Sl0Q 600, which lhry can ap-
propriAlc to the more speedy compile
ton Of the Road.
At an adj i,urned meeting Of the
Company he'll, here III March last,
discretion WAS given to the B3ard Of
Directors to accept or reject the sub
scription of 500, 900 on the part Of
the State OF North Carolina, ten
dercd by the Legislature in january
last. This subscription von are
aware WAS provided to be paid III the
Stock of the Wilmington 4 Raleigh
r. Il. Comp'v, owned hv the State
at its par value. The Board de,
lerrcd decision on this subject till
October last. when upon asccrlaiuins
t'rcm the increased receipts Of the
Company anl Il steadily increasing
business, with large reduction III its
expenses, consequent upon laying the
new and heavy rails in place of
the fiat bars removed, that the
Company would not only commence
paying dividends, but had every
prospect of continuing to pay larger
ones i'll future, and thus enhance the
value of their Sock to near il not
quite to par value in no great
time, deemed 1t to the interest of this
Company to accept that subscription
as they had done that on the part OF
the State Of South Carolina Rail
Road Stock. The difference IN the
respective market value OF the two
Stocks was very small at the period
OF their acceptance by our Company
-that'of the South Carolina Rail
Road Company at the time 1t was
! authorised to De subscribed being at
the time it was authorised t" be sub.
scrlbed, being at G2 for SlOO pai'!
in, and that Of the Wilmington 4
Raleigh Rail Road Company being
about GO, at the time of its ac.
ceptance.- TO this sum it had rap