The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1858-11-30
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CHARLOTTE, n G.
THE WESTERN RAILROAD.


con,nletion of the Western Railroad running from
Fayetteville to the Coal Fields on Deep River in
Chatham county. We copy the following article
from the Fayetteville Observer, giving PLAIN
statement of the condition of the Road, and what
the LEGISLATURE is desired to do for it. Consider
ing the vast mineral wealth to be developed by this
Improvement the fairness of the proposition OF the
Company to the State. the great injury Fayette-
vile has sustained by every other work construct
ed by State aid and the fact that men of all par
ties who have examined the matter have acknow-
lodged the superior claims of this Road to aid from
the State, We cannot understand how the Legisla-
ture can refuse to pass the bill now before It, we
hone its fate will not be linked in with other bills
but that il may be considered its own merits and
receive separate and distinct action. This would
be fair for it does not ask anything that will tend
to an increase of taxes or an Involvement OF the
State in a dangerous manner, but simply to ex-
change bonds; and that the Road will be able to
paw the interest on the bonds regularly and finally
to redeem them we think there is no doubt. But
here is the article from the Observer:
THE WESTERN RAILROAD.-AN IMPORTANT
DIsCovERY-We had the pleasure of moment s
conversation, few days ago, with Mr. kuper,
Chief Engineer Of the COalfelds railroad, who, with
his Assistants, has been engaged for three weeks
past in re-survey of the third Division OF the road
beginning % miles from town and terminating at
Deep River. And he gives the gratifying as
surance that he has found line which reduces the
distance to the Cult dbOut three miles, to Egypt
about two miles, can be more easily graded, and
will be almost straight, portions of the distance for
two or three miles at a time being strai ght line.
This will reduce the first cost of the road, sup
posing it to be constructed to the Gulf, it must
be- sooner or later, to answer its proper ends, at
least $50 000 and will reduce the cost of transport
tation upon it, for all time, more than seven per
cent, or as is to 43.
1t NAV surprise some persons that this discovery
is only now made But the explanation is easy.
AS the funds of the Company were not in a con-
dition to let out the Sd Division, there ne
cessity till now of making re-survcy of it. But
the application about to be made to the Legislature
made it proper that the most perfect statement OF
the cost of the whole work should be made, and
that the line should be ready to be put under con-
tract at once, in the application should be
successful; therefore the re-survey commenced
nearly a month ago, and the result is important
and cheering. The line run has the advan-
tage of being in contact with and in close
proximity to others, of the most well known and
important coal locations
The President and Directors have applied to the
for aid. They ask that the State will lend its
bonds to the amount of 100000, receiving in ex-
change the bonds Of the Company for like amount
and secured by mortgage of all the property of
the Company, present and prospective, amounting,
with the 100000 already expended on the road,
to 100000. The interest paid by the Company
its bonds will of course meet the interest the
States bonds, that pro, ision need be made
by the State, by taxation otherwise, to pay in
In of Hafa hv he IN nav
interest principal the State to sell the road
der the mortgage Provision to be made by a
sinking fund for the redemption of the principal
Of the bonds
This mode of extending aid is presented as every
way the most unobjectionable. Besides the pri-
mary consideration Of avoiding further taxation
and indebtedness, it seems to be generally admit
ted that States do not construct or manage public
works in which they have a controlling interest
either Judiciously economically individ-
uals But it is believed that the Legislature would
be very reluctant to make direct subscription at
present of $500, 900 to any object and to have
to devise the ways and means Of paying the in
terest on that amount.
The application made by the Company to the
Legislature shows that the cost of the first %
miles, (all of which is either completed or under
contract,) will be $4,000 So And of the re-
naming Is miles S235, 405. This last sum is
based upon the cost of iron and upon offers already
made to do the grading. To this aggregate OF
SOFA ,436 81 add for water stations, depots, shops
locomotives, cars and 3 miles of road to different
coal pitts, 1910, 900, making S954,436 SO. From
this deduct S25 900 from the excess of estimate OF
iron over actual cost, $4,000 for reduced cost of
grading the Sd Division if all paid fer in cash in
stead of part in Company's bonds, in all S45, eco
showing that the whole road can be completed and
equipped for about 100000.
The Company has already expended $500, 900
and has unpaid subscriptions for about $4,000
more. So that it might be possible to accomplish
the work with S55O0O0 of aid BUTT is safer to ap-
ply for 100000, for if needed it will be most i'm
pOrtant to have it, since the whole property on
which money could be raised will be already mort
gagged to the State. And if not needed, it will not
be used, but the bonds can be returned to the
State and so much of the obligation on each part
extinguished.
The Directors state that the work is in such a
state of forwardness that with ample means the
whole road be completed by the first of Sep
TENDER next
And now will the State again refuse to aid this
great work Other works of far less Importance
and far greater cost, have been set in motion and
sustained by grants of two-thirds (perhaps we
might say hree-htirdS) from the Treasury at our
cost In part and by our votes in part before they
had expended dollar. This town and county
have actually invested S30O,O before getting "a
cent from the State. We DO not call upon Her
cules without putting our own shoulders to the
wheel We believe We are correct in stating that