Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1857-11-25

The Western Railroad Company.
The President of the Western Railroad Company,
Fayetteville, has issued poposals for the sale of
$4,000 of the coupon bonds of the county Of Cum
berland and $4,000 of coupon bonds Of the town Of
Fayeteville-the procee Is to be applied the con-
structon of railway from Fayetteville to the Coal
fields on Deep River. The County Bonds bear Z
per cent. interest, payable on the 1st Of June and
1st of December, and are redeemable 20 years from
LIST June, 1857. The Town Bonds bear per cent.
interest," payable LIST January and LIST July, and
redeemable 20 years from LIST January, 1856. These
Bonds part of the 500, 600 authorized by the
General Assembly to be issued by the Town and
County respectively, in payment for their subscrp
ton of $4,000 to the Capital Stock of the Wes-
tern Railroad Company, and are the only bonds ev-
er issued by either Town or County. The Town
Bonds are $500 each. few of the County Bonds
are 800, the remainder $500.
The last Fayetteville O6serrer says:
"The reader who has money to loan, will notice
the advertisement of the President of the Western
Railroad, offering to the highest bidder, $40, 900
each of the bonds of the Town of Fayetteville and
the county of Cumberland.
This is fit occasion to state fact of much sig
nficance in regard to this Road. A meeting of
subsequently a written pledge signed BY fifteen
twenty gentlemen among our most substantial
citizens to endorse the notes of the Company for
various sums. amounting in the aggregate to nearly
$780, 90, the notes so endorsed to be collateray
secured by q bypothecaton of the Town and Coun-
ty Bonds at the rate of 500 in bonds for $5 of
dorSement.
This mode of raising money on the bonds in AL
ticipation Of their SALE adopted because it is
rule Of the banks here to require individual security
on notes discounted.
Should individuals prefer to loan money the
combined security of these bonds and Of individuals
rather than to purchase the bonds they can be &C
commodated.
Either way, the movement secures to the road the
means to carry on its work, as heretofore, with Wig
or, and promptly to meet ITS monthly payments to
contractors. 1t was handsomely done and has
greatly raised the spirits of the President and Direc
tors, and indeed Of the community, for it furnishes
new evidence that the citizens Of Fayetteville aoiU
not allow this great enterprise to fall
We learn that the several contractors are prose-
cutting their work with vigor" ....
There can be no doubt about the soupdness of
these bonds. Such an investment will prove en-
tirely safe. The debt is a small one for the town
and county and their for paying the interest
it accrues and the principal when due, are ample
WILMINGTON AND MANCHESTER RoAD.-The an.
held in Wilmington last week. Areport of she Gen.
eral Superintendent shows the follow ing receipts for
the year ending s0th September, 1857:
Receipts from Through Travel, $2oa.127 81
Way 6s,377 %
{" Up Freight and minor
sources, 1922 166
Down Freight 9O,65e OF
Mail, -- 42,750 90
Making total of $462, SIS 90
And the expenditures (both ordinary sp
and extraordinary for operating - 80
Leaving a nett revenue equal to $24o,9ss %
and showing total gain the receipts over the pre-
ceding twelve months of $40 1871 70, 10 per cent
nearly and the cost of operating AZ per cent of the
The extraordinary" items of disbursement in.
cluded in the statement may be thus enumerated
Ten new Box Cars, made in Company's
Shop, ...-.L: $4,000 on
Two new Passenger Locomotives. ,.,.., :. 1850 Ol
Repairs to steamboat Geo. L. Champion, 1000 0(
Total, $27,5oo ot
From the Report of the President and Directors
it appears that the bonded and floating debt Of the
company is 81 ,2ls, 600 90.
During the year considerable amount Of the
floating debt has been paid, and the financial exhib
it is, learn, very satisfactory to the stockholders
w. S. Mullins, Esq, Of South.Garolina, was elect
ed President, and The following gentlemen Direstor
Of the Company W. P. Mayse, g. T. ". Mccall
E. W. Charles, J. B. Moore, j. E. Gregg, Of South
Carolina, and John Dawson, John "A. Taylor, H
Mutt, N. N. Nixon, and Alfred Smith, Of N. c.
81 Harpers Magazine fos December has been
received. We are indebted to Mr.. Pomeroy for q
copy This number s fully equal in interest and
value to those that have preceded IT. @A1a~~&