The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1856-09-23
Western Plank Road.
To the Stockholders Of the Western Plank
Road C0mpany.

no, to cover and weatherboard the bridge
over Killian's creek, at DIR. G. L. Hunters,
and pay for the same out of the proceeds of
the Road; he has done the work, and done
it well, for which | agreed to pay him $3.50;
and l have paid him on the same $274
The Board of Directors instructed me to
have $500 insured on the bridge over the
Catawba river, and 81, 800 on the bridge
over Killian's creek, against fre-all of
which has been done. l insured $4,000 on
the river bridge, in the Charlotte Insurance
| Office, and $500 on the same in the Ashe-
vile Insurance Ofice-and | insured ST.
500 on the killian's creek bridge, in the
| Charlotte Insurance Office. Some five or
six months since, discovered that the riv-
er bridge was considerably bent up stream
between the piers, and l got Col. Renno to
| put in some iron rods to prevent it from
| giving away any more, and he thought it
would not give way again, but about the
| first of August, | discovered that it had got
much worse, and | laid the case before the
Board of Directors, and they directed me
! to employ Col Renno to move it back to
| its place, and put in such timber as would
make it secure. [ Immediately employed
him and engaged the timber for the same,
and the work is now nearly completed, and
[ think will be well done, and that there
will not be the least danger of its ever Civ
ing way again. The Directors placed ST.
600 worth of our Bonds at my disposal to
pay for the repairs.
| The receipts of the Road from toll and
fines for the last year. (which has just end
| ed) is $500 81, which together with 1928
81 cents remaining on hand at the end of
| the previous year, amounts to 81, 12S 70;
and the disbursements are SAIL Oh, leav-
ing in my hands acting Treasurer the
sum of sly "a, which will appear from my
| accompanying report of the receipts and
| disbursements which | herewith submit to
you, and request the appointment of com
| mlttee to examine my vouchers. ] have
not yet been able to sell the Saw Mill be-
longing to the Company, and / would re-
| commend the propriety of making sale of
the same at some price. have been linn
tied as to price. and have not been able to
effect sale at the price set As the plank
on the road are decaying fast, and | see no
prospect of being able to discharge the
debts of the Company by the proceeds of
| the Road, in the way of toll, and our Bonds
| fall due on the 29th of April next, for which
the Road, with all the property belonging
to the Corporation is mortgaged to secure
| the payment, which, after paying for the
| repairs of the river bridge, will amount to
about 800, 500. The other debts not in
cluded in the mortgage will amount to
about $4,000, making the whole indebted
ness of the Company something like S33,
| 0OO-and the cost of the Road near $685.
| 900. | would recommend to you the pro-
| priety of endeavoring to fall on some plan
to dispose of the Road and other property
| of the Company at as early day as posi-
| bic, to enable US to meet the payment of
| the Bonds and all other outstanding debts.
| would also recommend you to appoint a
| committee of two gentlemen, to enCeavor
| to get our next Legislature to amend or al
| ter the Charter of our Road, SO that it may
| be kept up as Turnpike Road after the
plank have decayed, that we may be able
to collect toll on the same as we now do.
The we'll at the toll gate near Lincolnton
is much out of repair that it cannot be
made to answer the purpose designed, and
it is SO far to any other water, that we will
not be able to keep a Toll Collector there
unless we sink new well. | would there
fore recommend the Company to order ano-
Their well to be sunk there at an early day.
The suit of w. w. Elms against the Com
pany is yet pending in court, and there
may be some erroneous opinions entertain
ed by some of the Stockholders and the |
public about the suit, think in justice to !
the Directors under whose advice | act, |
and also to myself, | should state the Cir |
cumstances of the case: A few months |
after | took charge of the Road as Presi- |
dent, was informed that Mr.. Fins intend !
ed to sue the Company for his pay, and |
that before he had completed his contract. |
l called to see Mr.. Elms and told him what |
! had heard; he denied it l then said to
him that there was necessity of suelng: |
that l was ready to come to a settlement |
with him at any time and give him the Com
pany's Bonds and Certificates for Stock ac
cording to contract; he answered that he |
would be losing the Interest on the Bonds
that he should have had before. | told him
the Bonds should be drawn to bear inter
est from the time the work was completed;
he appeared perfectly satisfied, and asked |
me if | would be in Charlotte again in two
weeks. | told him | would, and was there
at the time appointed, and every two |
or three weeks, for several months there
after, and saw Mr.. Fins nearly every time, |
and he never named the settlement, but had |
a Writ served on me for SECONDHAND two (
or three times after the suit was commence |
ed, understood through his attorney Ma |
ior Green w. Caldwell, that Mr.. ElmS wish |
ed to make settlement. | always replied |
that l was willing and ready to settle, but |
never could get Mr.. EEms to a settlement. |
An arrangement was made with our COun- |
ell and his to make settlement during one
of the court weeks at Charlotte, and l went
over prepared to go into 1t. On gong there, |
one of our Attorneys was subpon@d in the
case by Mr.. Elms. and nothing more was
said about settlement. | had intend
ed to have taken the deposition of our late |
Engineer, Mr.. Fry, when he was in Char
lotte last winter, but before had any no.
tice issued to that effect, | received notice
from Mr.. Fins Council. Mr. Osborne, that
he intended to take his deposition, and |
was then satisfied, and forwarded to Mr..
Fry what knew he would prove was the
contract, and his estimate of Mr.. Ems
work and on the day appointed TO take
the deposition, Mr.. Osborne was not in Char
lotte, and Mr.. Elms rode out on the same
day to his gold mine, and Mr.. Fry left late
on the same evening for New York, which
appeared to me very much like the notice
was given to deceive me. and prevent me
from taking his deposition. and since that,
Mr.. Fry has been travelling over the north
Al I Ha,-a l. l.,