Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1858-03-31
From the Fayetteville Observer
MEETING OF THE RAIL ROAD COMPA,

Inc anua meeting OF the w eStern Rail Road CON-
pany took place in this town on Monday and Tues
day last. The number of shares represented was
about $500 out Of 3,4lO in ALL The Hon. Jesse
G. Shepherd presided at the meeting, with j. NJ.
Rose, Esq, Secretary.
Arch'd Mclean, Esq., Mayor, and A. A. McKeth-
an, Esq. represented the Town Stock, and Gurdon
Deming and Daniel McDiarmid, Esqrs, represented
County stock.
The President c. B. Mallett Esq. presented his
Report, which was unanimously accepted. And
resolution, requesting the Board to publish it,
able and satisfactory expose of she operations and
prospects of the work, was unanimously adopted
When the election of officers came on, Mr.. Nal.
lett received every vote and the old Board of Di.
rectors was reelected with almost equal unanmity;
thus manifestng approval Of their previous course
and confidence for the future.
The Board consists Of
c. B. Mallett, President, George McNeilI, A. A.
Mcclellan, H. L. Myrover VIM. I. Horne John H.
Cook. Jas. Kyle, I. S. Lutterloh, Wn. McLaurin,
and S. j. Hinsdale, Directors
The following extracts from the Report of the
President will be read with satisfaction by all who
desire to the rich resources of State develop
ed -
FAYETTEVILLE 18th March, 1885,
To the Stockholders Of the Westsrn Rail Road Co.:
The President and Directors beg leave to submit
the following Report of the operations of the past
year, showing the present condition and future
prospects of your Road
IL Will Oe TeCOIIeCteu tnaC at tue last meet.
ing, our prospects-though better than they had
been-were by no means fattering. We had just
failed to obtain aid from the Legislature, and
uncertain how Cumberland County would respond
to the appeal we had made to her,-many thought
that if the County failed US would have to give
up, and probably should but she did not fail.
She authorized by very large majority a subscrip-
ton of 100000, and, at the June tenn Of the
County Court, the Justices made the subscription.
This confirmed the faith of the believing, and en-.
couraged the hopes of the doubling. Immediately
after this subscription was made, the graduation
the I'd Division put under contract.
The Treasurers statement marked A. shows that
the whole amount subscribed to the capital stock is
$341 1882 10, viz:
By the Town of Fayetteville 100000 90
County of Cumberland, 100000 90
individuals, 14l,2 10
Making, as above, $34l,232 10
To which add, for work already done and work now
under contract, payable in stock, $l8,53l 90, and
the total capital on the completion of the present
contracts will be $359,76 IL.
The Report states the purchase of 1000 tors of
Iron, part Of which has arrived at Wilmington; the
resources and liabilities ofthe Company the amount
of work done, &c The graduation and bridging Of
the whole 43 miles will cost $314, 1923 Sc; the iron,
and other Items, 1927, 403. Total cost Of roadway
$6l4,436 Sc. TO which add for rolling stock, an
amount greater less according to the business Of
the road.
For about rs miles this road will pass through an
untouched pine forest. The timber, lumber and ma
val stores from which would furnish fair business
for the next ten years; and round pines within
q reasonable distance of transportation are becom-
ing very scarce the boxing and cutting of this
supply will be simultaneous with the laying down of
rails. In fact the purchase of iron for only IL
miles has already started the axemen, and we have
reliable information that if this IL miles laid down
by July next, we will have the transportation of at
least 40, 600 bbls. With 10 miles more, and anoth
er year, the quantity would be doubled, and it will
continue to increase for many years. For as nava!
stores will bear hauling 10 miles, there will be
scope of country 20 miles wide and % miles long,
or 100000 acres, to which the road will be access-
BILE; and the increasing demand for those products
which the long leaf pine alone can furnish, will in
the working of all this land affording to the
road as before stated fair bushes for many years.
But the Coal and Iron Deep River are the great,
the everlasting and inexhaustble sources from which
the road will derive it's business. The quantity and
quality of the Coal and Iron ores are SO fully and
ably set forth in Prof E,nmon's reports, and the
correctness Of his reports ia fully proven by the
actual working of the Coal that the estimated ex-
tent of these deposits may be set down as . fixed
fact w hen they set in motion, that is worked,
they will be the completion of the road then
will our harvest begin for then, and ever after will
we have as much freight as we can carry-whch is
for single track 500,0 600 tons per annum, and for
double track Zoo, 5000 tons. With that amount
Of freight, land we easily carry it, for the En-
gine now building for as is warranted to haul $50
tons at load and the cost att which the rosd will
have bee" built, it must pay better than any road
in the country.
No roads in the country earn as much persmile
> IS Coal roads And but for their immense cost,
lowing to the inaccessible location nj rost coal folds