Weekly North Carolina standard. [volume] (Raleigh, N.C.) 1850-1858, 1855-09-26
|, N0RTHCAROLINA, WEDNESDAY, SEPTEMBER 26 1856

w As an act of justice to COL Walter Gwynn,
and for the infoI Imaten of the public we copy be.
low, from Gov. Moreheads Report to the last Leg
islature facts in relation to the estimates for
the North Carolina Railroad. It is proper also to
state in this connection, that the Portsmouth and Ro
anoke Railroad was built for $500 less than the
original estimates for the same by Col. Gwynn; and
that the actual cost of the Wilmington and Weldon
Road was $500 less than Col. Gwynn's estimates.
Extract from the communication of j. n. Morehead,
President Of the N. @. Railroad, to tho Legisla-
ture Of lS54-55.
"As by the estimates now submitted, it will ap-
pear, that the Road, when fully completed and
equipped will cost, as per exhibit A-S1, ,2s5, 300,
over and above the three millions; it may seem to
them, who do not understand the subject, that the
original estimate of $3 400, 1872 made by the Chief
Engineer and adopted by the Board was wide of the
mark, and erroneous in its calculations
If any such impression be made, it is due to
the Chief Engineer, and to the Board, with whom
had the honor then to act in adopting the first est
mate, that it be removed. A short examination of
the subject will excite surprise at the accuracy of the
first estimate.
That estimate was made, to ascertain what sum
would be required, to construct the Road and fairly
put it in operation and the Chief Engineer after es-
tmating that the Roadway would cost 81, 165, ,332-
the workshops and fixtures 800, 000-proceeds to
depend of course entirely the amount of business,
and may be increased as the wants of the Company
require 1t is not usual to embrace in the original
estimates and charge TO capital more than barely
sufficient to put the koad into operation, and with
inconsderable additions, carry it through and ena-
BILE it to do the business of the first year. With
this restriction, submit the following estimate,
viz"
The Engineer then estimates for ten Locomotives,
six passenger, four Baggage and eighty Burthen
forc nj oh IL ~
ding sums gives S3 4O5 1872 for the Roadway equip.
ment and Work. shops.
The estimates now presented to YOU, are intended
to show what sum will be required to complete the
Road, all necessary buildings and appendages, and
to equip it in a style commensurate with its impor-
tance.
By these estimates the entire cost will be S4,235-
300, (beng the whole amount contained in exhibit
A., over and above the three millions already SUBJ
scribed)
By exhibit A. it will be seen the motive
power yet to be contracted for, amounts
to the sum Of S2S9 600
BY reference to the accompanying print
ed Report, at page 81 will be seen the
motive power already contracted for,
and the most of which is already receiv-
ed, which may be put down at cost of 221, ,150
Thus making the motive power cost s5lO,75o
Deduct estimate for motive power in first
estimate, 1885, ,soc
The increase for motive power is 1910, $50
To this may be added the estimate for
Houses, for Overseers and hands,
which might be, but ought not to be,
dispensed with, viz: 10000
Also may be added at least the sum of
|. = $50, ,00O, rendered necessary in the es-
innate for additional sheds for Locomo-
tives and Coaches, 10000
Thus we have the sum of s41o,s5o
contained in the present estimate which was not in
| tended to be estimated for in the first.
| The extraordinary rise in the price Of iron since
the first estimate, could only have been seen with
prophetic eye. Of the twenty.three thousand tons
bought for this Road 5000 tons were purchased be
fore the RISE and 1S 900 tons since, at enhanced
price Of at least $22 per ton making the cost for
iron at least 1896, 600 more than anticipated.
Add this to the foregoing sum of S410 $50, and
we have the sum of $500, $50, which being deduct
cd from the present estimate 1926 300, leaves So
42S350. Deduct from this the first estimate of 50,
4G5, 1872 and the sum of $23, ,2ls is left as the dis
crepancy as to the cost Of the Roadway, between
the first estimate made before the first shovel OF
earth was removed, and the second estimate now
made, when most of the work is executed. And
here let it be remarked, the price Of labor and pro-
visions has nearly doubled since the first estimate
| was made.
must be allowed to say again. that the first es.
innate was remarkable for its accuracy"