The Abbeville banner. [volume] (Abbeville, S.C.) 1847-1869, 1858-05-06
THE oREENv1LLE & COLUMBIA RAILROAD.


We made flying visit to Columbia during
tho recent session of the Grcenvillc i Columbia
Railroad Convention, and in company with many
friends and acquaintance, spent our time pleas
antly with that renowned host, JANxEy, of the
Congarce House. We imagined that we could
notice decided Improvement in the running
condition Of the Itcnd since our last trip upon
it. While tho gross euininSs oc the Road for
the year past have decreased the expenditure in
consequence Of the permanent improvements put
upon the Road has been increased 1t is now
pretty we'll asccrtnincd that without large in.
crease of business the stockholders cannot ex-
Of the Road cannot be materially augmented cx-
ccpt by the gradual extension of the Blue Ride
and the prospective Georgia Airline Road, from
Anderson g. IL to Atlanta, G;l We have no
idea that the latter will be constructed IL will
require ut least S2,50n,O0U TO complete il. The
Company is said to have $780, 900 OF stock sub
scribcd and unless the Company can procure
aid from the State Of Georgia, We think tho ell.
tcrprisc will 20 overheard.
We omit the usual routine of business but
give the following Resolutions as the result:
EcsoIrei, That tho Board of Directions of tbc
Grecnvillc and Columbia Railroad COMPANY
be authorized to ISSUE the Bonds of the said
Company to the amount Of two hundred and
fifty thousand dulIars, ($25Q ,O0O) if so much he
necessary, for th" purpose Of carrying on sucl,
improvements in the way of permanent cnnstruc-
ton, Is III the Judgment of said Board may l,e
required and cNpcdcnt, and that said Bonds be
rcdecmable and payable in ten wears from the.
date thereof, and shall bear an interest Mt the
rate of seven per cent. per annum, payable semi
annually.
On motion Of VIM. Smith, the following Rcso.
luton was adopted.
Rc%otrcd, That the Directors os this Conpauy
furnish I" the Stockholders at the annuul meet
inssS IA list of the nanrs, salaries aud occupation
OF all the officers agents ard ovcrsccrs employ cd
i'll the service of the company.
Up. Reed presented To tho convention tho an
| nual report of the Gcor.i; Air Line road and
Alabama and Florida road, co be laid on the t;,.
bic information, and offered the following Pre-
| anibIe and Resolutions:
UhcrtdS, The gratifying success that has at
tended the efforts of the "t;corgia Air Line Rail.
road Company" since our last ann,al meetin,.
to- raise the means necessary to construct thcil
Road. not only affords reasonable assurance o
their ability and determination to carry ont in,
enterprise in which they are engaged, but rem
ders il desirable that this Company Shall in,lica,
explicitly the amount and kind Of aid i, proposc.
| to render said enterprise.
BE therefore Rcsotrcd, That To facilitate tl,,
construction Of the Georgia Air Line Railroad,
| from Atlanta To Anderson this Componv ,vl
guarantee the Bonds Of said "Air Line Railroad
| Company TO the amount of three hundred tl,ous
| and dollars, rs follows 10 wit: One hundred
| thousand dollars 50 soon as the said Conpan,
shall have graded and put in condition TO rccciv,
| the iron, Il section uf their road cuIn,lc cncinr n
the line of tho State Of South Carolina opposit,
| SnfI IL, 4:
| ianta; One hundred ihnusanl dollars so soon ~
an additional section OF twenty miles of said ro,,
is graded and made ready for the iron; and ON,
hundred thousand dollars whenever !, third see
| tion of twenty miles is in like manner mat
really 10 receive the iron rails. The said guar
anlec TO be made upon the express conditions
FIRST that the Bonds SO guaranteed shall bc Use,
for no olhcr purpose than TO procure the iro
rails. chairs and spikes for said sections Of road
| and TO lay down the same, aud second, That tI,
SAID Georgia Air Line Railroad Company" shal
| first give to this Company the security usual
gwen IN such cases, 10 indemnify against the pos
sibllity Of loss account Of said cuarantc,
Provided, That the said company shall, With
| live years, put itself into condition to rcc.iv
| the guarantee above offered.
ItrSotccd. That this company will transport til
| iron and other materials ucc"sSirv 10 he used i
constructing the ".tir Line Railroad in Soul
Caiolina" from Anderson, and Il section of ri f.
miles of the "Georg ia Air Line Railroad" froi
the line OF the State of South Carolina in the iii
rection of Atlanta, and will receive pay for til
same i'll the stock Of said Companies respect
lively.
Ecs"ircd, That the President and Directors {
this Company for the time being, be, and the
are hereby charged with carrying out the fore
going resolutions, when i'll their judgement Il,
guarantee may be made as contemplated by Il:
foregoing resolutions without hazard to this Con
pany.
The following is the list Of officers elected f.
the ensuing year:
For President.