The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1868-10-05

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Adopted.
By Alderman Voigt:
The Committee on Brick and Wooden Build
ings to whom was referred the application Oh
MIR. E. Smiley, to erect a wooden shed on East
Bay, corner of Pinckney-street, beg leave to re,
port that they have examined the same, and
recommend hat it be granted, provided that II
be erected according to specified application,
and to remain standing during the pleasure o
Council. Respectfully submitted.
6: 6. 5otThi J. CUNNINGHAM, Committee.
ROBERT HOWARD,
The Mayor submitted the following report oI
W. s. Hastie, ESQ, ono of the Directors in the
Memphis and Charleston Railroad Company,
| which was received as information and ordered
to be published, &C.:
CHARLESTON, September %, 1868.
Hon. Geo. W. Clark, Mayor Of Charleston:
DEAR SR: At your request proceeded to
Huntsville, Ala, to represent the City ol
Charleston, and other stockholders s. OF l., our
city, in the election for directors of the Mem
phis and Charleston Railroad Company, which
| took place on the 18th inst, ut both Huntsville
and Memphis.
VIM. L. Trenholm, Esq, also appointed, was
prevented from attending by circumstances
| tcyond his control, but his presence was not
so important, as the election for President
/
gether.
On the retiring of Colonel Tate from the
presidency of the road, there was contest be-
tween Huntsville aud Memphis for the pres'-
dency, the representatives from Charleston
both voting for Mr.. Beirne, OF Huntsville, whose
friends were unsuccessful
Deeming these contested elections highly
prejudicial to the interest OF the stockholders,
+ called, Immediately on my arrival, upon
Messrs. Beirne Donegan and Bradley, direct
ors, residing in Huntsville, and was pleased to
hear from them that they would give Major
Wicks, the present President, their undivided
support; "they had too large an interest IN , TIE
property to create dissension." The result
was that the old Board were unanimously
elected with the exception Of Colonel Tate,
resigned. whose place was filed by W. B. Wal
dren. OF Memphis.
Charleston represented moro than twenty
thousand shares of the stock; soma beng ruled
out for inf rmality or not being hello for ninety
days previous to an election, your delegate
voted eighteen thousand shares.
On tie invitation of the President, and
as his guest, visited Memphis, and haG
the pleasure of meeting Colonel Tate, who
informed me that Major Wlcks had been
Chairman OF the Executive Committee OF
the Board for long time, was perfectly
conversant with all the details OF the
business of the road, and he had perfect con-
fidelce in the success OF his administration.
he also stated that he had turned over one OF
the hest appointed roads Of the South, with
out dollar of floating debt beyond the means
in hand to pay.
Tate is President, has agreed to pro rate With
The Memphis and Charleston Road on the same
terms as with her Northern connections. ms
road extends from Canton, Mississippi, to
Jackson, Tennessee, two hundred and thirty
seven miles. The depot property at Memphis,
which cost sixty-five thousand dollars, has been
valued at one million dollars since the war, but
real estate has declined considerably since
that time.
The President estimates the cost Of the road
at nine million three hundred thousand dollars;
outside assets will clear of three hundred
thousand dollars; it would cost in present
curreacy from thirteen to fifteen million doi-
lars to place the road in its present condition.
Il is the intention of the Board to rebuild
the bridge across the Tennessee River at Flor
ence at an expense of from eighty to ninety
thousand dollars; the piers are all IN good
order. and branch road completed from lus-
cumbia to tho Tennessee River six miles:
There is also nearly mile of road completed
on the north side Of the Tennessee River, de.
pots built, and the building of tho Florence
hrir,,re will open business to the road from
Tanierdaie County, Alabama, and also tue
counties OF Wayne, Harnden and Giles in Ten
nessee This expenditure will be made with
out borrowing or interfering with the regular
dividends OF the company.
The company build their own cars, repair
their own engines, and have recently erected
rolling mill at the small expense OF seven
thousand dollars at Burnsville, which weids
and repairs all defective rails. Arrangements
will shortly be made by the Board to invite
emigration to The valley of the Tennessee, In
length about one hundred and nifty mlles py
fifteen broad, aud extending on both SIDES OF
the Memphis and Charleston Railroad. Inese
lands laid out in large plantations can De
bou ,ht for q mere pittance.
All the roads leading to Charleston will pro
rate, and it is the determination of the mana
gers to throw the cotton this winter into
Charleston. The East Tennessee and Virginia
Railroad running east from Chattanooga has
not the capacity to do but small portion
OF the business.
a daily line of steamers to New York. The
moment it is known at the West that there is
certainty of putting cotton through Charles
ton. We shall have on immense business from
all the roads; but the business must be done
cheaply, TO meet competition. Itis understood
that parties are now in New York seeking t1e
proper arrangements.
Loaded cars leave anv depot il Lhe West and
come to Charleston without breaking bulk; but
in Charleston we are dependant upon drays.
1t is consi cred, by Western railroad men, q
matter OF vital Importance that the cars should
deliver and receive their freight at the wharves.
1t is not only matter Of money, but will often
save from twenty-four to forty-,eight hours in
toe transmission OF goods, which. in the pres
INT state Of competition, is an important item.
1t Is hoped that the South Carolina Railroad
may extend her load to the wharves, or per-
mission be given by the City Council to Mr..
White to lay down road under his charter.
The personal interest of few citizens must
give way to the public necessity.
Respectfully submitted.
WILLIAM S. HASTE.
The Mayor stated that by the management Of
The city business during the last two months
the relation of expenses to the income has ex-
perienced an improvement Of nearly if moi
quito enc hundred thousand dollars.
| BILLS.
Alderman Olney gave notice OF the following
bill, which received its first reading:
BILL to provide for the Liquidation of mteres
and Arrears OF Interest the City Debt to 1st Oc
toper, 1868.
y,lrIo> Ro ~ Drd ,jnod b1J ihe Manor an