The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1855-02-16
The Wilmington and Charlotte
Rail ROR6

We have received (says the Wilmington Her
ald) The following letter from Col Walter L. Steele,
the Con- moncr from Richmond, and on account
taken the liberty OF spreading il before our read
ers. MIR. Steele, it will be remembered, intro
duceG in The House the bill for the charter of the
above named Road, and was mainly instrumental
in procuring its passage. The provision exclu.
ding the State from exercising controlling iDflu-
ence IN tho affairs OF the Company, we regard as
an excellent one.
RALEIGH, Feb. 9, '55.
T. BURR, JR., ESQ.,: Inasmuch as a good deal
of misrepresentation seems to exist in relation to
the provisions Of the ga to incorporate the Will
ming'on and Charlotte Rail Road Company |
have thought proper to give a synopsis Of that
part Of the act which authorizes assistance OH the
part Of the State The act differs, in some re-
spccts from the printed bill.
When individuals corporations subscribe fee
huadred H,ousu7d collars the Company IS then
formed. The work is to be laid off into sections
of twenty five miles each, and is to be commenced
at the Eastern end. Whenever the Company
shall construct and put in operation, twenty five
miles Of the road, and shall give TO the State
mortgage the real and personal estate Of the
Company, including all it may acquire until the
whole road is completed, the Public Treasurer is
required TO endorse the Company to the amount
of 100000 When the second section is com.
pIeted, he is requested to endorse to the same
amount and on, totes quotes, until the road
is built to the town of Chariotte-except the
completion Of the section next TO the last, when
he endorses 10 the amount Of $40O, 900, unless
the last section is less than twenty-five miles and
then pfO207tl0n0te sum, preserving the ratio OF
$4,000 10 the mile. The part OF the road crest of
Charlotte will receive assistance to the amount Of
two thirds Of the cost LadviduaIs control the
Road enti2ely-the State having no director in it.
General Alexander McRae, Alfred Smith, Thomas
A. Norment, James P. Leak, Walter R. Leak, D.
A. Covnaon and C. j. Fox, are the general Com.
mssioners.
| confess that the charter is not Quife as favora-
bic as should have been pleased to have had it.
1t will do, however, and we ought not TO complain
more favorable one could not haze been obtained.
The very fact that we not to be clogged with
the State influence in the construction and arrange.
ment of the road, Is, of itself worth a great deal.
No State director, unless he is Stakeholder, can
feel the interest enough in pubic work to cause
him to devote much attention to its welfare. Pri-
vae interest is worth, in the management Of pro-
perry, all the patriotism that ever preached in
4th Of July orations.
am contented with the charter. Now, shall
the road be built 2 Is 1t worth the struggle -
Will your people suffer the opportunity to pass
unimproved, of having direct communication
with The West, of which they have been dreaming
for years, and now, with effort can realize Will
the people along the line fail TO obtain the means OF
selling their products to NorthCarolina merchants?
These arc questions which will be answered after
! a while. | shall ask them elsewhere with my
tongue, and hope TO hear a favorable answer from
those al least among whom live.
| Very respectfully, WALTER L. STEELE.