Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1859-07-22


North Carolina Railroad Company.
The annual meeting of the Stockholders in the above
Company was held at Salisbury on Thursday last, the
I4th instant. From the Report submitted to the Stock
holders by the Directors as well as from the Report of
the President to the Directors we learn that the posi-
ton of the Company more satisfactory than had been
expecedthat in fact there is every season for congra
ulation.
The fiscal year closes on the 3lst May of this year,
instead of the Both june formerly so that the report
ed receipts and expenditures Only for eleven months
as follows
Through passengers, $54,316 O5; Way Passengers,
$lOO138 %; Freight, 1869 "a; Mails, 20,44l 63;
Incidental sources $5198 &C. Total receipts for eleven
months, $356734 80, being increase of 44,635 %
over the eleven months of last year, ending May 3lst-
Adding the receipts for June, amounting to 100000,
the total receipts for the twelve months would amount to
$387634 30 or increase over the corresponding fs
cal period of the last fiscal year of $5O,63l %.
The Expense Account for the eleven months has been
as follows
Bureau Department, $3.50 81; Transportation,
$72295 90: Machinery, "a, 1862 IS Road $51, 554 IS.
Total Expense account, $164,194 II of which sum
$9lOO is for new cars and new work extraordinary
repairs of road.
This would show balance, after paying the ordinary
working expenses of the Road, of 81 $40 o. From
this there has been paid 100000 being dividend of six
per cent to the State on her million dollars of preferred
stock: $27OOO being interest on $35OOOO per cent
bonds $4,000 to Sinking Fund for the extinction of
the per cent bonded debt The payments for thu
year amounted to $ll2000 and the Directors have fur
Their declared dividend of per cent to the Stock
holders, payable on and after August lst 1859. The
floating debt of the Company has also been reduced dur
ing the year. Fifty thousand dollars are already depos
tie to meet the $350O00 bonded debt of the Company
and that can be readily controlled The prospects of
continued increase of the business of the road looked
upon as good especially in view of the opening up of
the Western North Carolina Railroad, which will soon
reach Morganton and must prove most important
feeder to the business and aid to the prosperity of the
N. G. r. r.
The President thinks that from this time FORTH unless
some calamity befas the Road divide some amount
of profits among the stockholders.
The report speaks of the necessity and great value of
Telegraph Line and urges the construction of one up
on the consideration of the stockholders.
It will be how vastly the receipts from way pas
senges and freghs exceed those from through passen
gers We like this, because the local business the
most reliable and because it ought to be argument
against sacrificing too much to minor interest which
can only if unduy pushed lead to neglect of more i'm
portant ones thus inuring the Road ITSELF and measur
ably affecting nuriousy other great works in the State
We learn that Mr. Fisher and the other individual
Directors were chosen without opposition OR nearly
save in the case of Judge Saunders, against whom Giles
Mebane, ESQ.,. was voted for After sundry unsuccess
full ballotings W. T. Dortch, Esq., withdrew the name
of Judge Saunders, and Mr.. Mebane was elected
We understand that the action of the stockhoder
was such as most fully and cordially to sustain Mr.
Fisher who received much larger vote than on any
former occasion, and against whom, indeed there cou
hardly be said to be any opposition.
We are endebted to the courtesy of Dr. j. D. Bella
my for copy Of the reports from which we have CLEAN
ed heabove statements about the Road Wehave no NOR
minute particulars about the dongs the meeting thai
those we have given. We are assured that the eelin
one more satisfaction than has following any prevou
meeting of the Company. We trust that the time is no
far distant when the debts of the State incurred 70
works of Internal Improvement will press less onerous
upon her treasury and the duty of imposing higher take
be not mperativey required of each new Legislature
The new directory stands precisely as tie old one die
with one exception-John l. Shaver is on the State d
rectory instead of Giles Mebane and Giles Mebane is
IIle DHeCIOTy luSIeau Vi H. M SaunQefS.
BeThe Fayetteville Carolinian still insists upon til
Ignorance" of the JOURNAL this time in the case
Mr.. McDuffe, who has announced himself as a Demo
cratic candidate for Congress- Now, we are no part
zans of Mr. McDufie. We simply desire to do ever
handed justice. We are not Mr.. McDuffe's polite;
biographers; we merely state what appear to be tt
facts they stand We do not, and did not, refer
Mr.. McDufGe's political history-we simply stated
present position. We fnd Mr.. McDufie appointe
as Democratic delegate to represent Cumberland cou
ty in the Charlotte Convention of last year. We hay
heard Of nothing since that to put him out of the pa
within which he was then recognised as standing "
learn that he now avows his adherence to the stricte
rules of Democratic doctrine We are not of those wi
usurp the power to go behind things of this kind. "
confess that ignorant of many of the urnngs
twistngs OF local and county politics. and therefore
dom allude to them. How these things may be in Cm
berland we do not care to inquire We simply profe
to state how things on their face. What Mr. M
Duffe may have done in times past is matter for biz
self to explain, or those opposed to him to charge
finally decide is altogether for the voters of the dstrit
who know Mr.. Winslow well have marked his cours
and cannot be ignorant of his abilities who no douE
viii give Mr.. McDufie the fair and respectful hear
which of course is conceded to Mr.. Winslow. We ha
not heard either of these gentlemen this canvass at