Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1865-10-25
Toti.s ssitoSc:kSolders OF 81 the Il e: Columbia
and Hamburg Railroad Company.

To'tfie Stockholders OF the coiumDla
and Hamburg Railroad Company.
Since vonr last annual meeting, great and
radical changes Lave taken place in onr couu
strys IN i,cislized people ever reaiiz-:d great
ser poliicalJ military and soeiatrfv'lutIons In
so, short period ~ Th'se causes Dave repder-
ed Il, Impossible u casgy on any systematic
opera'inps IN q 'qstr ,crl%p .,f tht rna1
OF tw6 occas llls Ov,t i've hundred hands
were At; ssvSS and co ttacfed for in the grad
uation. At:unei period ';igti-tenths Of Inc eli
lire grading Was E1let, and The hole ;of,>it
could have oeen ti,ishedss by this time, bus
for ths r.pa transitions il the eondilion OF
tka country, -. -, =
Alter thse; Iii, Of Battle ceased, came the
abolition Of slavery, s'deransins the entire la
b n system Of the eonntFg. This sso completes
ly.psraIyzsdst the energy and capital >of the
entire South as to reudcr,it impossible to get
Contractors. Notwithstanding all these diff
cuscies. q small force gas kept at work by the
c .,npanv. This has recently increased to
NH ms w nbnnared ha,iIs, 'no~ at work AMI
as the Z .niilenccis and energies btttha peops
begin td:rsyivesand the,iariners onbatie line
evi.,re as.lispesitin,to tak ke, contracts, it's,
belieyed a, fsree sufficient To prepare the road
bed for the rails by next spring can SION be
placed on tile graduation. -. ,a,s.. I
In the present condition of the company's
assets, it would be difficult tosnbmit an accu7
rate estimate OF their value. fortunately for
the company, one uf lis .ptiucipal objects
of investment was cotton, and notwiths'and-.
ias the losses by the ca ,uil,es of war, it still
lids over sra f;iSjrtteeu .Sunlred bales. This ii
in addition to what has been sold and the
proceeds applied to the i'w''rk:: Independent
of other inea1is, the proceeds OF tke'ecotton
now on hand will be Inors7 than Sufficient to
complete the entire graduation. of the, ruad
bed. ~Itis, however, manifest that the means
of the company, after flushing The gradua;
,,tions. .2deliveringd Ire crosS Stiesand paying for
the rights1f .wayi will not be sufficient to-
purchase, ( any considerable portion OF the
rails. Twill he NECESSARY necessary tp provide iunds
for this purpose as early as nay De naclica !,
bio. Your. charter: gives. ample authority 10
raise funds, both by tie issuance Of new stock
and th6saie of bonds. eThelopiuien; j.! enter!
tained .tkat,,with your present basis of CAPT.
aland commanding position of..Yours road,
the-fnnds can be raised, in fair state IF the
money asfkst, necessary for the completion
ofsthe work.
The construction of thissrosd is rendered
almost apublic necessity, since the cum ple7
tsn of the Piedmont Railroads rendering the
distance less by that route than by any 9TH
er. dlndeed, this 'roadis' tue last important
link in the great eeiisfal line between WASH
q inuseu; City and ;YirkSburg, and if 7construc-.
ted at u reasonable cost,,must prove a protit7
fl,n or
All the travel coming South, not going TO
or through Charleston. aftar passing Rich.
gmoud,: whatherit comes via Danville, Peters
bury, Norfolk, sMsldyn or--Wilmipgton, will
find this the shortest route; via Columbia.
over your, road 10 Augusta. :, and so with all
travellers going North through Augusta, OH
/. oil thercads Concentrating at tehst city, will
s6udis their. shortest route. by over sixty
miles. ~. -,.- -, u. =, ,..v
When completed it then becomes the fun
tnef very large stream of !converging and
tI;seegins through travel and trade at each
terninus. Besides, the greater portion of
the line passes through one of the most pros.
porous, wealthy and productive. regions of
South Carolina, while the remainder Of the
5Iifie passes throughs Virginia pine forest Of
GE6dLfdl W thC "Si' 80 W - ~sIt
importance in the economical construction
and maintenance of the road.
These considerations unqucsiionably prove
that the. road, when finished, will command
very large leca!, as we'll as through business,
and with. fair management must prove q
source of profit to its stockholders.
As the subscription to the capital stock
amounts to 81, 1888, 81, and was made and
paid when the currency of the country was
materially deprecated in value: it is recon-
mended that it be reduced to its real value.
This suggestion is made for two obvious req.
sons to avoid undue taxation, and to enable
the new contractors to take 8 portion OF the
stock of the company at par in payment of
their contracts, as several landholdcrs have
expr essed desireto do. 1t is believed that
the capital may thus be materially increased,
such is the confidence iu the stock as invest
Rent.
As the foregoing is submitted without the
.usual information from the Engineer and
Treasurer, your attention is respectfully invi-
ted to their reports, just handed in and here
with submitted.
,i7s''.a .st.4-' - WIN. JOHNSTON,
---t p, ss>sSs-s9 President.
A committee appointed, to report on the