The New York herald., 1862-02-26

OF the South assembled Il the Council Chamber tn
city on Wednesday last and adjourned yesterday asr
having accomplished i object % mr. - was posaiois
" Mr. Goomsn Of the Mss,ssippi csn.rs was President
OF the meeting, and Mr.. Chas @. racott, OF the Rich
The following raiirosds wsf: represented in the Con-
vsntion. In most instances By their Presidsntss-
Memphis and Charleston.
Virginia Central.
Southside Railroad.
Petersburg Railroad
Richmond aud Petersburg.
Richmond, Fredericksburg and Potomac.
Virginia and Tennessee
York River.
Wilmington and Weldon
Orange and Alexandria
Richmond and Danvills.
Mississippi Central.
Southern Mississippi.
Memphis. Ciarksviile and Louisville.
Washington Cosnty, Texas.
Western North Carolina
Grcenvillc and Columbia.
There we're in attendance besides number Of Super
intondents and other railroad officers.
The plan adopted by the Convention TO carry out the
purposes Of the Convention is In substance follows
II divides the railroads In the Confederate states into four
districts the assumption that would be impossible
Sr such number OF interests 10 work together al
vantageously The railroads in Virginia constitute ono
dvson those east Of the Savannah river and south of
Weldon another those sogth OF Knoxville, cast Of the
Tombgbee and west OF the vannah river another, and
those OF Chattanooga and the Tombgbee, east OF
the Mississippi river and s1uth Of kcntucky another.
central rolling mil Is 10 bs located in each division,
with slch machine shops and foundries as be neces
sary the capital requisite to put these works In operation
70 be subscribed snd paid by the roads belonging W the
respective divisions Tho afrs OF the rolling mills
TO be managed by board of directors In each division,
Consisting OF tho Presidents OF the roads and they are 10
locate the mills 10 tho best advantage OF the roads
concd, TO fix the price of maeria and transpora 10
select and spcin general superintendent for the works,
and fix the capital necessary 70 carry out the scheme
and the manner Of paying In the sameeich road and IN
tercst to furnish all the Old material they spare
The second part Of the pan Is In substance follows
In tho event that the roads constituting either division
should fail decline to establish mills above provided,
the ads pcdgcd. ir 1t sh'A be 70 ind pcccssary to
make advances 10 individuals associations who viii
detako TO establish the same, TO the cXot and upon tho
basis hereinafter satedTnat any person ASSOCIATION
months " the LIST of Jan ary 1862 msnuactory rail-
road supplies which shall bo approved by the compani
they viii contract TO pn chase of them annually ID NIX the
present aad for of three yoaIs from tho close
Of the war, such supplies as they shall manuactnrc, 10
the extcn o the requirements of tho sevca conpanis
fr rsfars, consumption and equipment for tho period
nnmet price not greater daring tho contp OF
the than my upoa The rates current ior
tlcles Of Ike quality the LIST o. July 1850; aud after
tn close OF the war advance fnot more thar thirty
per cont upon the actual cost OF trans ortaton OF Similar
articles at the time Of purchase, exclusive OF import du
tics In addition, the compa les agree TO make
loans ut six per cont Interest TO ndvidua VINO establish
such man, factofi,s as may be approved or u an
extent net lees than hry nor more thar seven
ty nvo per cent per milo or zach of sa!d
rads, for term Tot 10 excoei three years The anDlnt
loaned erch individual 10 he determined by the roa s.
h not to exceed the aggrcs sao the above limitation
Manniari0r established to give the preference
rails who have loaned their capital.
The Presidents or nniee the Convention pledge
themselves call together their ards and secure
lin upon the oregoing plan at m esrIy day.
Several resolutions adopted by the Convent ton Of
which the following Is the most important
Resolved That IN tho opinion of this meeting II Is OF
great Importance 10 The defence Of tho confcdcracy
thai every facility should be extended 70 the deveorc
the mineral wealth OF thc Confederate states and
large proportion Of this wealth s owned by alien
encni,s. earnest application bo mado 10 tho Cuniec
"a cangre TO pass law contscating and ssng the
!nlc esti in tho property owuei by alien cnem,s IN
tn various mines OF minerals which will enabls South.
orn operators 10 work tho same.