Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1858-12-10
THE WILMINGTON JOURNAL
WILMINGTON. N. C., TUESDAY, DEC. =, 1855.


The bill declared to be for the purpose of construct
ing Railroad from some point on the North Carolina
line, at or near Milton by way of Yaneeyvie to the
North Carolina Railroad at Greensboro or the work
shops majority of the stockholders may iecde with
the privilege of connecting the with the Richmond
and Danvle Railroad when authorized by the Tegisla-
ture of Virginia
The capital stock of the Company is fixed at five hun
dred thousand dollars, with the privilege of increasing
said stock to further amount not to exceed an add
tional sum of seven hundred thousand dollars. The
Company TO oe organized when one hundred thousand
dollars shall have been subscribed and five per cent paid
in upon all such subscription. 1t is plain, naked
charter with the usual conditions privileges and spua
oss 1t is in terms the muchtalked of Danville Con-
neoton.'
Also A Bill to charter the State Improvement and
Relief Bank of North Carolina" Introduced into the
House of Commons by Mr.. Caldwell of Guilford. This
is quite long bill containing some twenty closely print
ed pages and consisting of forynne sections being
fear, too cumberous for
The capital stock of the Bank is fixed at three millions
OF dollars, divided into shares of fifty dollars each, the
charter to continue until the first day of January 882
The bank to be authorized oacquire hold and use prop
erty to amount not exceeding six millions dollars
exclusive of the capital stock aforesaid.
The State of North Carolina shall subscribe for fifteen
hundred thousand dollars of the stock of such tank
her account and five hundred thousand dollars
count of the Literary Fund.- and individuals may take
the remaining million Before any person shall be al
lowed to subscribe to the stock of such bank he shall
deliver to the commissioners authorized to receive such
0f ctO
by the proposed subscriber, in some of the Railroads
completed partly in use, and located entirely within
the limits of this State to double the amount of stock
to be by such person subscribed to the capital stock of
said bank.
The subscribers shall be called upon to pay up the
amount of their stock in specie the notes OF specie
paying banks of other States at such times and in such
instalments may be deemed expedent the State pay
ing up her nstaments at the rate with the private
stockholders the Public Treasurer to issue State bonds
to pay up such nsalments. The number of Directors
is fixed at eleven five for the State and Literary Board
and six for the private stockholders. The Public Treas
shall countersgn, number register and pay over to
the president Of the bank blank notes to amount not
exceeding twice the amount Of capital stock actually
paid in, as already provided for
The dividends of the bank shall be made sem-annua.
y but should at any tme the amount of dividend to
be paid the shares held by any individual stockhoder
in the bank when added TO the amounts of dividends
declared the railroad stocks deposited by such stock
holder, exceed per cent the whole amount o
bank and railroad stock held and depo sted then the
surplus that amount to be paid over the Com
missOners of the Sinking Fund All the profits realized
the stock held by the State in such bank after pay
g the debt created for the purchase Of such stock shall
also be carried to the Sinking Fund
The private property of Stockholders together with
their railroad stock deposited to be held liable for the
debts of the bank to the full amount of their stock held
therein.
The bill prescribes the amount Of specie the bank
shall hold in proportion to its abilties-mposes
teret of II per cent u its notes when protested etc.
and finally provides that the principal bank shall be To-
Gated at such place majority Of the individual Stock
holders may determine the aforesaid bank having bran
ches at different points throughout the State.
We ave stated but few of the provisions of this
most complicated and hardto-be-made-out BILL the pet
of Mr. D. +. Caldwell OF GuiforG, ard several other
folks only with the difference that think David is
perfectly sincere and don't think many of the other
folks - are. We really do not wish to such lum-
berng mpractcable affair imposed upon State, and
and we trust that shall not
TIE SAMPsoN FAIR.So much mail matter is in hand this
morning that compelled to postpone account Of
the Sampson Fair just hand Our correspondent de
lighted with all he and heard Especially was he pleas
ed the exhibition of stock There 66 horses 7e
cat e. mules liz hogs, &C. &c-33S animals in all. L.
Powell had the largest yield of to the lowland 81
bushels j. r. Eeaman, IS bushels to the
E. Peterson upland, "a bushels to the L.
q IN fhL of nuDli a hAp
about 500 1bs-FayeteulHe Observer.
We copy the above from the Observer because it gives
more statistics than our limited time permitted tC
gather We agree with the Observers correspondent
in being delighted With all we saw and heard
By the way, we do not wish to introduce politics into
notice an affair of this kind, but still could no
help contrasting the exhibition of last week with tl'
doeful picture of decadence and desoation drawn il
the Court House at Clinton in May last, by Mr. Nc
Rae Many of the most intelligent gentlemen will
whom we conversed dwe with pride and pleasure upo
the Aaterng evidences of prosperity and improvement
visible in Sampson within the last few years the proof
of which were all around US. Gentlemen from the sur
rounding counties spoke in the tone Oh the proges
of things in their sections. The growth of schools, tn
introduction of improved modes Of culture, the amelor
alton of stock-all mark q And this improve
ment is not merely local or partial. 1t is general Th
State is not retrogradng. She is advancing with
r healthful motion Her towns not retrograding.
No man who knows anything of the village of Clinton
or of nearly any of our county seats and who will tax
the trouble to look for himself will fail to be convince
Z of this He will see neat and handsome dwellings
. good stores-handsome male and female semnaries ur
der competent instructors and will learn that much
this is the growth of the last few years. He will n
ON all occasions of public assembage pefcetul refine