The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1866-11-09


thus making a saving in distance of about
ono hundred and seventy miles, and from
ten to twelve hours in time, to all travel
1r0m Mobile to Charlotte, and the same to
all points farther North or South-while
the passenger to Atlanta, Montgomery,
Nashville, Memphis, ETC., will practically
gam one hundred miles in distance. Such
saving IN the progress of the age cannot
exist wlthoutlts attractions for the through
traveI, trade, express and mail matter to a
Very large portion of the Southwest and
Northeast of the United States.
with tins road in operation, tho traveller
gong TO Augusta or beyond, and not going
| to Charleston, passest East Of Lynchburg
| gong South-he will find it the shortest,
ch 2apest and quickest line to pass over
| yo'Ir road. Tho steamboat lines from New
| Acrk and Baltimore to Portsmouth, Nor
tolk, Morehead City and Wilmington, with
| tic Virginia Central, Richmond and Frede-
rIc5sburg Road, including tho Richmond
and Danvllle, Seaboard and Wilmington
| routes, with the North Carolina Road, will
all have direct interest in sending their
throuSh.trade and travel over this road.
Even tho traveller from Wilmington, when
he reaches kingsville, will find his shortest
route. vtG Columbia to Augusta. 1t will,
therefore, bo to tho greatest interest IF
over fourteen hundred miles of railroad
South OF Washington and North of Column
Dla, and over one Thousand miles Of Steam
boat line from New York, Baltimore and
Washington city, to invite through bust
ness over your road. SO with the roads
South and West Of Augusta from Atlanta
Montgomery, Columbus, Thomasvillo and
Savannah. When the traveller reaches
| Augusta, this route through Columbia pre-
sents the greatest Inducements bv annihi-
latlnS time and distance. Its completion
Will do much to restore the trade and ira
vel through North and South Carolina lost
of 1a o,{
and Virginia and other moro Northern
routes. Its commanding position, with
the appreciation placed upon it's stock by
an Intelligent public, causes it to sell
higher IN the unfinished condition of The
work than that of majority of roads now
in the South in full operation.
With ordinary prosperity restored to the
country, the gross income of the road
ought to amount to $400, 900, and tho net
income to S200,O This would be equal
to ten per centum upon s2 600, 900 of capi-
tai. while tho estimated cost of the entire
eighty miles is less than s1,G00OOO. This
would be moderate income, comparing it
with those of connc citing roads in the
years 1S59-'60
1t is presumed that the State of South
Carolina, in conformity with her settled
policy and public spirit, will not b, indif-
fcrcnt to an enterprise destined to be of so
much Importance to her taxable resources
and of incalculablc benefit to large region
Of the State which has heretofore received
no benefit from railroads.
Aided and fostcred by her liberalitv. this
road besides adding, i'll the aggregate,
$4,000 per mile to the value of the real
estate along its line, and, ut its tcrmiui.
equal to 50, 200, 600, will transport it's heavv
through business to the capital of tho
STATE, and cause it to pass one hundred
ana eighty miles by rail across her limits.
from Augusta to the North Carolina line
soon prompt the Wilmington and Mancles
ter Nal!road Company to extend a branch
from Sumter to Columbia, thus oDcninp
three lines to the sca-coast-one bv Au
Susta to savannah, another ria Whining
ton, in addition to the present route to
Charleston.
Tho effect Of three convcrri,.., lines of
railway to the centre OF the State from
three important cities on tho coast. all
competing for her commerce, will greatly
reduce transportation, not only to the capi-
tai, but to all Northern and Western Dis
trlcts penetrated by the Grecnvillo find
Charlotte Roads and their various
branches. The great object of wise lea,is
latl"n, III regard to internal Improvement.
Is to expedite and reduce the cost of trans
portation.
These aro the considerations that give
value to the landed estates, reward the
tillers of tho soil, stimulate energy and
industry, and invite la Dor and CAPITAL to its
occupation and Improvement, not only in
the cultivation of the soil, but to the de-
velopment of the mineral, manufacturing
and other industrial pursuits of the count
try. These constitute the greatness of 3
State. With their development and pros
perlty, follow the income and success of
the artizan, lawyer, doctor, the men of
science and of letters, in all their various
departments, adding to tho cultivation
progress and civilization of the sociatva and
age in which We live Respectfullv sub
mitted, WI. JOHNSTON Prrs't
After which, the following resolutions
were unanimously adopted:
!. NeSo{ced, That the authority con-
fcrred, at meeting Of TIE Board of Di-
rectors, held in Augusta, Ga, 2Sth Febru-
ary, 1866, on the President of the road. to
execute mortgage and issue bonds of the
company, Tor certain purposes therein
named, be confirmed in every particular by
TINS meeting. and that the mort gage there
IN contemplated embrace the entire road
franchises, and all other property OF the
company acquired up to the time of the
completion of the road.
2. ReSolred, That the bylaws of the com
pany, passed at the last annual meeting
of the stockholders, in regard to the frac-
tons OF shares occurring upon the reduc-
ton OF stock to one-fourth the number of
shares, be and tho Same are hereby re-
| scinded, and that the following rules shall
prevail, in regard to the fractional parts.
upon all shares yet remaining to be re-
duced.
| 3. ResolUed That if the fractional part
shall be one-haf, or moro, the party hold
ing the certificate shall paw the amount