The Abbeville banner. [volume] (Abbeville, S.C.) 1847-1869, 1856-07-03
SAVANNAH VALLEY RAu, ROAD.

tent, apprcllensions that from delay and dif-
ficultcs, the patience of the Company had
become threadbare, and thought perhaps an
effort would have been made at this meet
ing TO dishand the Company. But not so !;
there seemed to be no disposition to disor-
ganizc; all seemed willing still to labor in
behalf of this great enterprise. 1t is not
known whether Augusta will take the pro.
posed 100000 stock upon such conditions
as will be complied with upon tho part of
the Company.
The provisoes of tho amended charter,
relative to the junction Of Savannah Valley,
Georgia and South Carolina Rail RoaJs in
Augusta, have not been complied WITH
Negotiations arc pending upon this qucs-
ton. Augusta demands as bonus for the
privilege of running through her streets,
sl5O,0oO. Mr.. KING, President of the
Georgia Rail Road, proposes to pay of this
amount 100000, leaving s5O,ooo to come
from other sources. But if the junction,
as contemplated in the amended charter,
cannot he made, and the amendment be
rejected, the Company can fall back upon
the original charter, accept the State sub
scrpton, and force into harness those who
have withdrawn their stock. At any rate.
the Company has done wisely in resolving
to wait still longer, induiying the pleasing
hope that some unforeseen stroke of fortune
may yet crown their efforts with success.
Several large Stockholders who had given
notice of Il withdrawal of their stock, were
present, and expressed willingness 10 re-
place their subscriptions upon the books Of
the Company, ust us soon as any anything
should be effected to renew their confidence
III the success of the Road. They, in with
drawing, have acted under the conviction
that the Company could never comply with
the conditions that Augusta would annex
to her subscription, and prcsumins their in
ability to build the Road without her aid,
they had lost hope, aud dcSpairing Of sue
cess, were willing to abandon the enterprise
and disorganizc the Company. But we
can say to the people Of Augusta, with
conviction of the truth of whit we speak.
that most if not all Of those who have
withdrawn, will return if they can only be
assured Of success. We imagined that we
could perceive that spirit-that vein of
earncstncss pcrvading the meeting, which,
deserving success, will not he borne down
10y adversely. And if the amended charter
Is not accepted, they will doubtless rcdou-
ble their excrtions to build the Road under
the original charter
We have not space to report the speeches
made upon this occasion; but merely men
ton that Hon. \. BvKr, Mcssrs. TnoMsoS.
MARSHALL, JENNINGS, BRowxLEE, HAM
MoNn and MARTIN, participated in the dis
cussion Of questions which came before the
Convention.
The following is a brief sketch Of tie
proceedings with the resolutions passed lv
the Stockholders:
The Convention was organized at II
o'clock a. H., President Calhoun in the
Chair.
The President made statement to the
Stockholders, Of the reasons which intlu-
enced him in calling them together, and
briefly explained to them the present con-
dltion and prospects Of the Company.
On motion Of Thos. Thomson, Esq, the
appointment Of a Committee OH Proxies
WAS dispensed with.
After the reading Of the minutes of the
last meeting, the following resolutions were
offered by John Brownlce, Esq:
Pcsolred, That the Stockholders of the
Savannah River Valley Rail Road Company
continue to desire the Accomplishment of
the noble and useful enterprise in which
they have engaged
ReSoi"ea, That whether the Stockholders
accept or reject the amended charter, de-
pcnds upon the action of the City of Au-
gusta; and that the Stockholders will await
the action of the City of Augusta under
the Act of Assembly \. ID. 1855, until the
next regular and Annual Meeting in No
vember next, at which time they will de-
term'ne whether or not they accept the
amended charter.
Resoired, That our energetic President
continue his cxertions as heretofore with
the City OF Augusta and use his efforts for
the best interests of the Company.
After some discussion by Messrs. Thorn
son, Martin and Jennings, the resolutions
were adopted.
Maj. Hammond, as agent for ]. J. Black
wood & Co., offered the following, which,
on motion of Col. TaImsn, was laid on the
table:
Resolved, That j. J. Backwood L. Co.
be and are hereby Internationally released
from their subscription Of 5000 900 on the
books of this Rail Road Company, (this
subscription having been made with the
view solely Of securing the charter,) and
that check for 500, ,ooo-the 10 per cent.
instalment paid in-be forthwith drawn in