Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1855-06-02

IA q iot0 uuhUcI VI Iuc yO1eoNLA0 ODScIFcI 10
found an article with the above caption. and the
pient Editors charge Gov. Bragg with having perpe-
trated that offence for having appointed three most
intelligent and patriotic gentlemen to represent the
stock and interest of the State in the Board of Di
rectors of the Cape Fear and Deep River Navi-
cation Company. The offence consists, first, in
not having re-appointed the old Directors, and Sec
ondly, in having appointed State Directors who own
ed little or no stock in the Company.
The Cape Fear and Deep River Navigation Com
pany has sgnally failed for the second time,
much so that its stock, in which the State holds
largefnterest, has recently sold in the market for
less than ttteeni dollars in the hundred and the
Legislature therefore, in the recent law which was
passed for the relief of the Company, made it pre-
requisite that the old Directors under whose
and Encouragement this state of things had been
brought about, should resign, for the purpose, of
course, of recognizing new board. If therefore,
Gov. Bragg had re-appointed the old Directors and
thus disregarded both the public interest and the
clear expression of the Legislative will, he would
have been justly the subject of public censure and
such Editors as those of the Observer would have
been the first to pounce upon him. The second al
legation preferred against the Governor by
these great champions of Internal Improvement, is
that the State Directors own but little stock
in the River Improvement The State Directors
not appointed to represent either their stock
that of the individual stockholders There are three
other Directors elected by the stockholders for that
purpose The State Directors represent the stock and
interest of the State and in making their selection the
Governor guided by very different rule from that
indicated by the Editors of the Observer. He did
not regard so much the amount of stock as the a.
mount of capacity possessed by them to promote
the interest and guard the rights of the people of
the State; an interest which is often antagonisc to
the interest of stockholders, and is so, to
tent, in the under consideration.
But the object of the article in the Observer was
to insinuate that because these Directors did not
own much stock that, therefore, they were not friend
ly to the improvement; and he tells great Sc.
cret that the Hon. A. Reneher had taken no stock
in the original work. The thing was insnua-
ted in the meeting of the stockholders at Whining
ton, where that gentleman represented the State
most ably and to the entire Satisfaction of the State
and stockholders. 1t was at once rebuked SLAM
der, and Mr. Rencher stated that though friendly to
the work he had not taken stock in it because he
was not in the County at the time. If he had been
he would have taken stock, though he had no imme-
date Interest to be promoted by it. He made this
statement publicly, and as reason for not wishing
to take upon himself the labor and responsibility of
DIRECTOR; ana we are autnOrlZcO TO say tnaC ne
neither sought nor desired either appointment
ferred upon him by the Governor and that he accep
ted of them simply from sense of duty and in COM
pance with the wish of the Governor, and of very
many stockholders, both Wings and Democrats, all
along the line of the work. He was not, as stated
by the Observer, appointed in the place of Mr.. Bry
an, any other person but in his place, which
doubt not he will fill most ably and faithfully.
But how much stock is owned by these great
champions of Internal Improvement in the Cape
Fear and Deep River Improvement? One would
suppose from their assault upon others for not hav-
ing owned stock in the Company, that they had been
munfcient contributors, especially they live
and have all their interests Immediately upon the
banks of the river and yet strange to tell Edacard
IT, Hale Dc Son oaon not one share III the Cape
Fear and Deep Riuer Navigation COmpany!! and
if the secrets of all hearts could be revealed Ezacard
J Hale DE- Son desire the third and final failure
Of the Cape Fear and Deep Riuer Navigation Com.
pany. In this they shall not be gratfed if the
est and constant efforts of Gov. Bragg and its friends
can prevent it. The Governor desires not to KILL
but to make alive-to resusctate public confidence
and to give success to the placed by the State
in the power of the Company. In this patriotic
course he will not be turned aside disturbed by
the little ault-ndings of the Editors of the Obser
yer.