Weekly standard. [volume] (Raleigh, N.C.) 1858-1865, 1858-12-01
THE WESTERN RAILROAD-AN IMPORTANT
DISCONERY-

We had the pleasure of a moments conversation,
few days ago, with Mr.. Kuper, Chief Engineer of
the Coalticlds railroad, who, with his Assistants
has been engaged for three weeks past in re-sur-
vey of the third Division of the road beginning 25
miles from town and terminating at Deep river
And he gives the gratifying assurance that he
has found line which reduces tile distance to the
Gulf about three miles, to Egypt about two miles,
can be more easily graded, and will be almost
straight, portions of the distance for two three
miles at time being straight line,
This will reduce the first cost of the road suppo-
sing it to be constructed to the Gulf, it must be-
later to answer its proper ends, at least
$4,000, and will reduce the cost of transportation
upon it. for all time, more than seven per cent,
as is to 43.
1t may 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 condi-
ton to let out the Sd Division, there neces-
sity till now of making re-survey 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
at once in the application should be successful;
therefore the re-survcy was commenced nearly a
month ago, and the result is important and cheer
ing. The line now run has the great advantage of
being in contact with and in close proximity to
Others of the most we'll known and important coal
locations.
The President and Directors have applied to the
Legislature, nnder resolution of the Stockholders,
LOT lney ask tnat state VIII lenQ It's DOnuS
to the amount of 5000, 600, receiving in exchange
the bonds of the Company for a like amount, and
secured by mortgage of all the property of the
Company, present and prospective, amounting, with
$500, 900 already expended the road to 5000 000
The interest paid by the Company on its bonds will
of course meet the interest the States bonds,
that no provision need be made by the State, by
taxation or otherwise, to pay interest. In case of
of default by the Company to pay interest or prin-
cipa the State to sell the road under the mortgage
Provision to be made by sinking fund for the
demption of the principal of the bonds.
This mode of extending aid is presented as every
way the most unobjectonable. Besides the primary
consideration of avoiding further taxation and in
debtedness, it seems to be generally admitted that
States do not construct or manage public works in
which they have controlling interest, l:either
judicously or economically as individuals But it
is believed that the Legislature would be very re-
1uctant to make direct subscription at present Of
| $4,000 to any new object and to have to devise
the ways and means of paying the interest on that
| amount 49, -,
The application made by the Company to the
Legislature shows that the cost of the first % miles
Gall of which is either completed or under contractO
will be $379,O31 80. And of the remaining, 1S
miles $235 405 This last sum is based upon the
cost of iron already purchased and upon offers al
ready made to do the grading. To this aggregats
of$614436 80 add for water stations, depots, Seaa
locomotives, cars and miles of road to dancN
coal pits, S340, 600, making $954, 1876 SO. .ISSD6t
this deduct $25 900 from the excess of esthdk 0e
iron over actual cost $4,000 for reduced cosxSef
grading the Sd Division if all paid for in cash.
stead of part in Companys bonds, in all $45, ,06e,
showing that the whole road can be completed and
equipped for about $4,000.
The Company has already expended $500, 600,
and has unpaid subscriptions for about $4,000
more. So that it might be possible to accomplish
the work with 5000, 600 of aid. But it is safer to
apply for $780, OOO for if needed it will be most inn
portant to have it. since the whole property on
which money could be raised will be already mort
be used but the bonds be returned to the State
and so much of the obligation on each part extin-
guished 49,
The Directors state that the Yo1k is in such a
state of forwardness that with pie means the
whole road can be completed BY of septem-
ber next
And now will the State again refuse to. aid this
great work? Other works of far less inf prtance,
and far greater cost have been set in motion and
sustained by grants of twothrds (perhaps we might
say Mree-thirds) from the Treasury, at cost in
pended dollar. This town and county have actual
y invested $500 600 before getting cent from the
State. We do not call upon Hercules without put
ting our own shoulders to the wheel We believe
we are correct in stating that in other instance
has $780, 600 ever been expended on any public
work in North Carolina by individuals before the
State came to their help. In most instances the
State has begun the work, and in some it is said
she both begun and finished it.
We trust that such considerations as these, and
others which have been presented by the President
forcbly presented by our members Of the Legisla
ture, will induce that body to listen to the appeal
BOW psade ID it-Ebyottsvs1S 0bserr@.