Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1852-02-13

collected as reported the
the Company including contracts not yet completed and
not credited to Contractors, is: SfZ4,ooo 20
OF this sum the collections have been
on the subscription of the State of
south Carolina in South Carolina
Rail Road Stock at par value. $50. $4,000
Tn subscription of State of North Caro-
Rail Rail Road Stock at par value 80. 100000
Subscription of the Town of Whining .-.
ton in Bonds of the Corporation 100000 453OOO 90
Leaving amount collected on private
and other subscriptions of capital
stock Of ACKNOWLEDGEMENTS. $27l 1856 IS
All the above stocks and bonds are still in the
hands of the Company, with the exception of $4,000
s c. Railroad stock sold to aid in meeting payments
on 5000 tons iron, all of which has been received
On the sale of this stock loss was sustained of
Sc, 537 SO, and the Company pays good dividends
and the stock must appreciate in value it not DEEM
ed expedient to throw the remaining 100000 worth
of it upon the market at a sacrifice. The bonds is
sued by the town of Wilmington in payment of its
subscription 900 have nearly all been disposed
of at par and the remainder, it is believed will
be- The proceeds Of these bonds were specially APP
propraed for the purchase of iron to be delivered at
Wilming ton 5000 tons have consequently been
purchased of which 1913 tons are on the way, and
may soon be expected. This iron, together with
1000 tons contracted for through the agents of the
Company in New York make up all that is required
for the entire road. The iron contracted for by the
agents is to be paid for in bonds of the Company at
90 The iron as it arrives will be bonded in Will
mington and Charleston, and the duties paid on it
it may be required for the work, provided
rangement cannot be made by which the United
States will grant extension of time the duties,
and receive the payment in mail service, was done
with the Wilmington and Raleigh Railroad.
The reasons for the acceptance of the North Caro-
lima State subscription of 100000 to be paid in
stock of the Wilmington and Raleigh Railroad at
par, stated to have been the belief that the stock
of that company must rise to par it, and
that it is valuable as the stock of the South
Carolina Railroad was when it was accepted in pay
ment of subscription made by that State
Of the 100000 of bonds issued by the Company,
only S459O0O have been solo, and it is deemed advi-
sable to hold on to the balance long as possible
at least until the close of the year. when it is belev
ed that from 100 to 125 miles of the Road will be
finished and in operation when they will command
a more favorable consideration from the public
The following table shows the estimated of the work.
the amount expended and the available in the
of the Company the par value of the securities for Stock
and mortgage Bonds unsold:
Estimated cost of the Road by the Engineer,
From which deduct Expenditures per Treas
urer's Report 397 500 ~
$1,l52,l39 So
From which also deduct purchase of 1000 tons
motives be paid in mortgage Bonds. $780, 90
1896, 13s So
Add Bills payable at Bank State of S. Co.. $4,000 90
1926 So
To meet this the Company have the following assets
Bonds of the Town of Wilmington,
Notes Se Of Of Stockholders in Whining -4''00
500 shares S c. R. r. Stock at par OO'00'
POO o' do. W. r. r: r. Co. do dc. 10000
al mortgage Bonds, $1,000,
Balance due on Subscriptions to
Capital Stock to be called in fu-
Cash and in hands of Agents sub
Di }SSi 10 n ora 5. R R stock (e '''''
ceived since Jan: D......:... 3,400
Received from sales of Stills &c.,
sold since January l............. 1000
s1,o55, 4o5 go
To which may fairly be added Divi-
dends n 1900 shares s. G. R. r..
Stock, assuming they pay the
Dividend vide on W & R. R. R Stock,
estimated same rate as last year. $500
s1,o7o,1o5 90
From which deduct estimate
Amount required S-o, 10y %
Ana;+1aa1es s143 e66 "a
To losses from stock Bonds subscription lists &c.
which it mpraccable estimate from the
| of the securities we hold.
| The Road is com pleted and in operation to Sum-
terville 152 miles, and the result, as to expense of
construction and probable business, considered
satisfactory. strong force has been organized on
the western end of the line, and it will be pushed
through with all practicable despatch. On this end
as large force desired, could not be got, but
every eHOrG Will uSeu W seCuTe lduoT, push
forward the laying of the track which will not
Eagles Island the causeway, but by route high
er up.
The bridge over the Great Pee Dee is to be built
by the Company itself, as a contract could not be
made for its construction without submitting to a
great sacrifice.
Interesting from Mexico-Assembling of Congress
The Presidents Messnge-Bearer of Dispatches, &c.
| New ORLEANS, Feb 8, P My an arrival here
we have advices from the City of Mexico TO the oath
| January
| The Mexican Congress had assembled and proceed
| ed to business.
The Presidents message was handed in and public
| ly read. 1t gives very deplorabIe account of the
of affairs throughout the republic and complains
greatly of the want of money 10 carry out the designs
of the executive.
1t that the country had very narrowly escaped
the necessity of with England, in consequence
of the debt due here Fortunately, however, an ar
rangement has been made to avert fearful calam-
| ity.
The President in his message also complains loudly
OF the encroachments making upon the public and up
on private citizens by General Carvajal and his com.
panons
The Rev Mr.. Goss bearer of dispatches from the
United States Legation in Mexico TO the Government
Washington, has arrived here. He states that be has
succeeded in purchasing piece of ground, by consent
OF the Mexican authorities, 10 be used American
cemetery in which large number of the officers AM
soldiers, who died during the with Mexico, are
be buried
/ Official.
] Receipts and Expenditures of the United States
exclusive of Trust Funds, from October to Decem
Der 81 1851.
Treasury DEPARTMENT.
Pc tors Inr,