The independent press. (Abbeville C.H., S.C.) 1853-1860, 1857-04-24

! y" '"'' li d suo:L lltnc all our cars
Can Ie made there. Although some acci
dents involving loss have occurred, vet the
running OF the trains has been wonderfully
successful and should be satisfactory. The
officers and operatives i'll our employment
are prompt and faithful in the discharge OF
duty. The conductors of the Passenger
trains and the Engineers, or runners, are
deserving Of special cnn,ncn,lation. The
Engineers arc skillfui, cautious and prudent
| and the conductors are accommodating an.
| polite to passengers, and at the same time
flrln IN the discharge of duty. They are
men worthy of your confidence, honorinc
the stations that they fill.
The work Of building rock culvcrts and
filling in the trcstles. in which we were en-.
gagged ut the time of your last meeting, has
been pressed forward with all the energy
which the means OF the Company would al
low. and Il large amount of this work has
been done. The sum Of S12,G4O &c has
been 'iiSbnrSed from the treasury during
the year upon this account, including the
old and the new, added to the cost of the
road. IN this way the road has been great
~ improved. Thor"ugh and extensive re-
pairs have been made, which will more par
ticnlariv appear from the Report of the Su-
rrrlntcn'lrnt. The Board expect to continue
this work OF construction, and have let out
upon contract the building Of culverts and
iilln" up oflartr trrstlcs ut Williamson, and
ct rnal:v small "ncS II; other places along
the road. y survey has recently been made
with view of chan"in" the location Of the
road on the west OF Saluda River. so as to
avoid III" crossing Of Wilson's Creek. The
length of the new line is 4,4OO feet, the
gruinm of which will cost less than the
"'ilhilnG at the tw" Ei'ly"> across that stream.
which. were wet" continue the old line.
would lav'. To b.. rebuilt this wear. This
work will |" pu, under contract as soon as
prar'i''ahr Most Of the TrcSllcs that should
be filled up, will be filled in the course of the
present year, after which the expenses for
maintaining the way will be greatly reduc-
ed
Application was again made to the Lcris-
anre OF The State at its last sitting for pay
men' oi The assessment upon the State Stock,
which application was rejected. As no
reason was asst gned for this decision on the
part OF the Legislature, it cannot bc thought
strange that we are not satisfied with it.
The claim 10 us seems so well founded that
"" do not perceive why the State, which
desires to give an example of justice in its
dealings, did not acknowledge the debt and
order it to be paid. An individual stock
holder, with precisely the same case rs that
of the State, could not successfully resist the
demand in our judicial tribunals; =; and the
immunity Of a sovereign only substitutes
self coercion in its case, for the external
force which might be applied in the case of
a subject. A mere glance at the question
will suffice to show the strength of our
claim. BY the charter of the Company
power is given to enlarge the capital as in
the progress of the undertaking might be
found necessary, either by additional assess
ment. not to exceed in the whole twenty
per cent. on the original shares, or by new
subscriptions. The State embarked in this
Improvement with the individual stockhold-
crs, and III the first instance subscribed to
the capital stock an amount which when
asccrtaincl yielded 1865 shares and af-
terwards rs the road Was extended to Ab-
berille and GrccnvilIe, it subscribed the
further amount of $3.50. In none of these
subscriptions did the State exempt itself from
the provisions Of the charter authorizing the
assessment but on the contrary it itsubscrib.
ed with full knowledge of the power grant
cd to the Company. The State has recev-
ed and and now holds the Companvs scrip
for the number of shares above nained-is
regularly represented by proxy in the meet.
ings of the Company, and in all respects
claims the rights and privileges of the other
Stockholders. The Stockholders, at their.
meeting at Newbcrry, in January, 1853, to
enable the Company to 60 on with the work
exercising the powers given them, assessed
all the Stock Of the Company to the amount
ofa four dollars per share, or twenty per cent.
upon the original shares. The State Stock
10 common with the individual Stock was
equally assessed. No burden is laid upon
the State Stock Chat is not alike assumed by
sile individual Stockholders. The individu-
al Stockholders have paid up the assess
mcnt on their Stock, but the State is still in
default. No doubt the individual Stock
holders paid reluctantly they regretted the
necessity, but still they paid. To the good
faith of the State, which has never vet re,
.pudiated an ACKNOWLEDGED obligation, it
must be left TO. examine the grounds upon
which it can believed from its share of the
burden assumed by those with whom it is
associated. Under the circumstances the
assessment was timely, wise and prudent
measure. Without it, it is probable that
the enterprise would have failed and all the
stock paid in, both by individuals and the
State would in that event have been entire.
~ lost; wah it, the road has been pressed
forward to completion Not only is the
State Stock saved, but already has the
State been profited by the immense wealth
impaired to it by the Road, amounting to
more than double the stock paid in. Hav-
ing shared in its benefits, equity requires that
tile State should contribute to it's common
burdens. As Stockholders ourselves, and
as representatives Of other individual Stock
holders, we gratefully aoknewledgs. the lib
erality Of the State towards our Company {;
but we think that there is withesom per.
sons a misapprehsnsion on this sub Jet,
which leads them to suppose that this liber.
ality was greater than that shown TO other