Smyrna times., 1858-03-18

u interested IN the success OF our road, to sciz
Inc hrst opportunity of establishing this line
boats, and thus make a connection of our roa
3 with the railroads terminating at Norfolk
Is These roads connect Norfolk with Wilmington
charleston, and most Of The Southern cities
ana will soon, by the opening of the Peters
] burg road, connect it with the South side ant
other railroads extending far into the interior o
'he west even to the lakes; besides which, (anC
what is more important for our consideration, :
'he large amount of trucking and other freghts
at and tor Norfolk, would secure for our line
an amount of business equal to, if not creator
than 1t now draws from The peninsula:
The Philadelphia, Wilmington g. Baltimore
Railroad Company has promptly paid the stpu-
lated rent falling due in July and January last.
The interest on our bonds and other funded debts
has been met, and much of our floating debt
has been funded or paid. The States share of
the rent has been invested by the trestees ofthe
sinking fund in the purchase of our own bonds
at rates which if continued will absorb these
liabilities before they are due. The stockhold.
ers share of this revenue was by their resolu
ton of 2nd Of April, 1857, appropriated TO
finishing the road and has been applied to that
object.
The road is now in good order and has been
nearly all gravelled, but our means have been
insufficient to put up proper station houses and
granarles, or to complete the feucing in manv
places, where We are under contract obligation
TO do the fence. In such cases where the land
owners have put up their own fences we have
funded the deb: by issuing scrip and thus Sc.
cured them their interest until the COMPANY
has means TO pay the principal. This arrange
ment is not only the best the company can
make but is better security than any other
that can be obtained. And when it is consid-
cred that the stockholders of this road are bene.
fitted by it only as those creditors aud the rest
OF the community are benefited; that thew
have appropriated all their interest TO FINISHING
The road, and are receiving nothing for their
large investments, it will be thought unreason-
able that owners Of land largely increased in
value by this improvement should put up their
enccS upon the companys obligation to nav
win guaranteed interest. The same remark
pPlles with even greater force TO creditors who
ecame such by the recovery ofexcessive dana. =
Ies Tor right of way, which has been the cause !
t al! our embarrassments. Most of these i
lalmants Of the former class have been salts. b
led with this arrangement, and have shown n y !
roper degree OF torbearance towards these who
ave made such large sacrifices for this public !,
Improvement. The few who ha acted other !,
us: have doubtless done SO under N erroneons
lea that THIS road like most other railroads. 8
'as oullt on speculation for profit and not
'r Improvement that 1t as profitable to the
ompany, which as a corporation, if not sub. u
'ct of p'under, is still not to be dealt with on le
rlnclpals that govern individuals; or that the 81
tate Is so largely interested in it as to liobten
ny burden that may be imposed on individual NJ
ockholderS. None of these is true. If anv n,
sSocIallon OF persons ever subscribed their nj
oncy Tor an object OF general good, and there fe
merlted the sympathy of their felow-citizens y,
lualIy Interested III securing that object YOU. Il,
le private stockholders of this company, are
lat association. And though there NAV be :,
erSons who view you in different and false q!
ght, the fact that only one suit has been al
ought against you for these obligations is III
-oot that the public generally understand your
'sltlon' ana appreciate your sacrifices for the m
encral good 70
On the whole we have abundant reason for la
'ngratu'aiion, that, though you have labored
ng and spent much for the Delaware Railroad
Ithout any direct returns OF profit, you have - "
'talned your principal object in the road itself g
I'd its benefits; and have done service to the Ct
tate that cannot we'll be over estimated.
BY order of the Board, ar
S. NJ. HARRINGTON, Pres't "
-@e.o Or