The Camden weekly journal. [volume] (Camden, South-Carolina) 1853-1861, 1860-09-18
MISCELLANEOUS.
TO lie Hon. Edward G. Palmer.

M MlSCfLLLAlNh IN ho y.
To 1he Hon. Edward G. Palmer.
1t is in behalf of the people of South Caro-
lima that you arraign the Officers of the Com
pany the columns of the Edge6cld Advertiser,
the South Curolinian, and, presume, in other
public journals, on the charges ola violation OF
the charter of the Company, and of bad faith
for having expended the funds fthe Company
beyond tile limits of the State. have shown
that other Rail Road Companies in South Caro-
lima have, by subscription of stock to other
Rail Road Companies, IN this State and ont of
it, aided in the construction ofothcr roads than
their own, aud it has not occurred to any per-
son that in So doing they had violated their
charters or acted in bad faith But will pro-
coed to show that such expenditure is authorized
by Legislative reports and enactments, and
that even if it were not consistent with the
charter Of the Company, the State, as stock
holder, has sanctioned and confirmed what the
officers of the Company have done. Some
latitude must be allowed to the defence. My
purpose is not to assert and to argue in reply
to your charges, but to provc them to be grossly
unioundcd. In the statement of the evidence
will be as brief as may be compatible with
this purpose.
1le Blue Ridge Rail Road Company was in
corporatcd in 1852, and by the same Act the
State gave aid to the enterprise by engaging,
on certain conditions to guaranty the bonds of
the Company to the amount Of l,250,O 10,
which bonds were to be secured by first
mortgage OH the road. 1t is unnecessary to
advert to the conditions Of that aid, because it
WAS not accepted by the Company. In 1858
the Company entered into a contract with
AIison Baugs L. Co., for the construction Of the
entire Blue Ridge Road from Anderson to
Knoxville. The contractors undertook to do
all the work and furnish all the materials
necessary for the complete construction of the
road, at certain fixed prices for the work and
materials, for which payment was to be made
to them monthly one-half in cash, one-furth in
stock, and the remaining fourth in bonds of the
Company, which were to he secured only by Il
mortgage of the road. The aid granted by the
Act OF 1852 being considered by the contrac-
tors to be insufficient to enable the Company
to perform their part. of the contract, they
inserted stipulation that, unless more satisfac-
tory aid WAS graItel 10y the State they should
be at liberty to abandon the contract.
The Company accordingly pctitioncd the
Legislature, in 1853, for more effective aSsis-
tahoe. In the petition all the terms of the con-
tract with Anson Bangs Il Co, were fully set
forth. The estimated cost oftlle road in South
Carolina was stated to be s2,5O0,OOO; and Of
the entire road from Anderson to Knoxville,
to be S7,50O,O0O. The means OF the Company
to accomplish the work, were exhibited to bc ::
The subscription by the City Of Charleston,
$l,0+9,0OO; private subscriptions, Sl5l,OOO.
The Tennessee subscription, S5O0,u00, and the
Stock and Bonds OF the Company to be taken
by Bangs & Co., i'll payment Of onc,llaIf of the
estimated cost of the road. These a>s,ts,
amounting i'll the whole to S5,450,000, ttt-
deficiency, whey. compared with til 'Ut3Il Ga
e sS's s, 81 ,ooo, 51s ,ess :ssq s';S5 sS;a5 70
il|(AgisIaturr would supply this deficiency bySa-1'
sHalstTty OF Bonds provided for by the Act of
1852. The petition WAS referred to the appro-
pirate Committees in the two Houses, aud 4
bill was reported granting lid to the amount
prayed for by the Company. After a very full
discussion Of the bill upon its merits, the bill
was passed iu the Senate but lost in the
House.
In the progress Of the bill certain resolutions
were adopted 10y the Scnatr, calling for inlor-
nation respecting the amount Of the subscrlp-
tions i'll South Carolina and Georgia; the
number Of Individual subscribers, and the
particulars of the contract with Anson Bangs
g. Co. The President OF tic road, Mr. Henry
Gourdin, responded to the inquiries, and his
statement Was reported by the Committee of
Finance and Banks to the Senate. Tho terms
of the contract with Arson Bnngs d Co., for
the construction of tho road from Anderson to
Knoxville, were fully set forth by the PIcsi.
dent
The application foraddtional aid was renewed
in 1854. l cannot obtain copy Of the petl-
ton, if any was presented; but it is probable
that the petition, bill and proceeding Of the
preceding session were again brought forward.
III the meantime, that is in July, 1854, meet
Ing of the Stockholders was held III Charleston,
to which the President and directors made
a report. They state in it that Mr.. lythgoc,
the Chief Engineer of tho Company, with his
assistants, lad made final location Of the road
in South Carolina and Georgia, and also, i'll
part, in North Carolina and Tennessee. The
resources OF the Tennessee Company were
shown to have been largely increased by a
liberal grant of aid by that State, while the
means OF the Company, so far as related 10 this
State, Georgia and North Carolina, remained
the same rs they were at the dat" OF the former
application tc the State for aid, viz: the City
Subscription $l.049,OOO; individual subscrp-
tions ST. 900; Contractors Stock and Bonds
$3,0OOOOO, and the State Guaranty, under the
Act Of 1852, Sl,250,OUO. The Report rccoH'-
mcnds that the application should he renewed
to the Legislature for additions! aid to the
amount Of one million Of subscription, and Il
guaranty Of the Companys Bonus for one mil
hon more. The charter requires that the Com
pany shall make al. annual report to the Leg
isIaturc, and It may bc assumed that the Com
pary accordingly did submit that report to tho
presiding officers. and to the members OF both
houses
The Committee of Ways and Means, 10y their
Chairman, the Hon. }. lizard Middleton, made
tlvoraLle.rcport on the application. The re-
port brings to the attention Of the House that
"thc Company had completed its surveys" aud
"ccalcd their entire linc," which "Srt at rest
all questions respecting the practcability OF
this great work. But, although practicable, 1t
is difficult aud costly Althoug costly, it will
fall far short in costncss to those great railway
lines which conncct New York, Philadelphia
and Baltimore with the great and fertile valley
of the West" "The whole line Of railway
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