The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1868-07-08


Its interest as stockholder. .s4S3 $50 90
Under the act of1881, In guaranteed bonds,
have been actually ondorsed .......... 100000 90
Under the act Of 1866, endorsing certif-
eosSs coupons. Gn 2osslsss
Under the fourth section Of the act Of 1856,
where demands have been surrendered
Which makes an aggregate of.....s1 7s431 81
II an arrangement could be made by which the re.
naming s326,000 Of orginai mortgage bonds could
OF creditors which would interfere with the OPP
erations Of the road for years come There could
be no greater misfortune to the public, or no pro-
ceeding more ruinous to the state, than that the
road should be brought to sale at time when the
financial embarrassments surrounding Individuals
and corporations are SO widespread. II decree
that this large interest of tho State would be entirely
lost, and that the people, By future taxation, will
have to make good the whole amount OF the guran-
tees upon the bonded debt to wit: ts.o g2s ": a.
the satisfaction OF the original mortgage bonds upon
some basis fair and just alike to the State the COM
pany and the creditors; or, II that cannot be done
that such action may be taken as viii, TO some e1'
tent at least secure the large interest of the Stae
this corporation In the event Of its being ordered 70
be sold. have tet 1t to be my especial dutyto post
pone and defeat the foreclosure of the mortgage
least until the subject could be brought TO the az
tention Of the General Assembly and ample time be
ciyen your body to make such provision to guard the
State against ruinous lose, as In your discretion may
bejudicious
THE BLUE RIDGE RAILROAD.
Icommend, with great .earnestness, to your favor
able consideration the compleo ion Of the Blue Rdge
Railroad This national highway, intended 70 con-
meet the great West with the sea, was commenced IN
South Carolina long before the inception OF any OF
the enterprises In the North and Easr looking 10 tne
same end and more than thirty years ago enlisted
the active energies Of the brightest inteecs Of the
State. The financial crash OF 1887, however, sus- @
pended this great work after had reached the City
OF Columbia; but In 1872 or 1853 It was again re-
yived o new line of survey was adopted and the
work was carried on with redoubled activity. Inc
war alone prevented Its completion. -
The interest of the State, financially and COM
mercially in this undertaking cannot be
ted. The stock which 1t now owns In the, company
amounts to 81, $40 o00 and unless the WotR snau 10
accumulated this large sum OF money Will necessa-
rIy come atotal loss to the State In additon 70
losses which will result from the depreciation Of
stock in other roads whose prosperity Is apsoiute
dependent upon the success ofthis undertanng. N
pended on the road fs S. The road has been
completed, and 10 in running order from Ahoerton
to WalhaIa, distance of thirty.four miles. iselr
the latter place 1t peneuates spur Isae o paue
Ridge Mounta' n by tunnel o little more than one
mile in length and upon this tunnel twotn1ros OK
the work has already been completed; mucn oitns
grading and masonry In the remaining territory Of
South Carolina, Georgia and North Caronna mas
also been finished. It ia estimated by sk1lfu! and
competent engineers that the entire sum 70
complete the road, put In running order 70 hno1;
VILE, aud stock /. with motive and car power, 1ni
NOT exceed SIS, 100000. From Knoxville to Marys.
Vile, thereis already nearly completed sec1on o.
twenty miles Of the road, cndit Is understood tnat
the Legislature OF Tennessee has appropr1aleu
sufficient sum per mile to purchase the non anu
erect the bridges necessary to- compiete Tue eon-
struction to the North Carolina line -
The advantages OF this route over the virginia,
Maryland, Pennsylvania New York and Eastern
Roads are most manifest. The trains WIZ not pe M.
season by the heavy freezes which prevail at tne
North, and his road may therefore be worHed more
regularly and economically throughout the year. IN
addition to these advantages, very material SWING
will be effected in the transportation OF all suppnes
seeking market upon the seaboard from the West
and upon all goods, passengers and emgranls golng
from the seabord 10 the west Cacinnsm s4S coss
by this roate than by any other now IN operation
or which has been projected. The adyantaGe wmen
this road will possess over every otnfr telInlnaun4
upon the Gulf Of Mexico Is manifest. All the sup
plies carried by these roads to the gulf pors for ior
eign markets must necessarily round the capes OF
Florida, where the navigation is difficult and DANGER
ous to say nothing Of the larger consumpaon on
Ii Ge in reaching the markets OF the world ana me
Increased cost Of transportation upon steam and
sailing vessels, by the increased rates OF insurance
required. ,,ys:.,5 Y Y &C.
Livery consideration, therefore. which can move
people in the promotion ofa great enterprise should
operate upon the citizens Of South Carolina ana IN
Si,ee the speedy completion Of the Blue Ridge Rail-.
road When finished itbecomes the great FEEDER OF
every ether railroad IN the State. Il VIII not 9aiy
gree add to the trade apd prosperity OF every village
Town and city in the Commonwealth. -.
The present bonded debt of the company, fer
which mortgage has been executed, amounts 10
about S2s0,0O0 But as the road terminates upon
the edge Of the mountains, stops short OF any con-
meeting lines and Is dependent alone upon the pro-
duction Of small tract OF country nes%een Anoes
nue. to LAY even the interest upon the rst mortgage
bonds The bondholders have net yet instituted any
proceedings to foreclose the mortgage and 1t Will be
most unwse financial policy for the State to allow
Il To- be done and the road to be sold out for palry
sum- when its sale would transfer all that has been
DONE together with the estate and franchises OF the
company to strangers, and thereby lose 10 the state
and her citzens-to the individual stockholders and
| to the C,ry of Chareston-the enormous sum Of
ao5 0oO 1t u.s. therefore, indispensaby necessary
that come steps should be taken to redeem this out
standing debt Of s2su ooo-the first mortgage bonds
| company The Legislature authorized the company
to issue bonds under their 6rst mortgage to the
amou Of one million of.dollars; but the company,
exercising prudent precaut'on suspended the work
about the commencement Of the war, when they
had issued, as already stated only $3.50 900. It is
highly important that these bondsF boud beprompt-
! IL renewed, by substituting bones guaranteed by
the State for the principal and interest," and that steps
he taken TO resume the work at the earliest pr1cca-
ble day, looking to its completion.
THE SOUTH oAnoLIyA PESITENTIAaY.
transmit you herewith the -eport Of Major T. B.
Lee Engineer, Architect OIL superintendent OF the
Peniteniary, covering the Operations and progress
Of the work up to 1st Of January, 1868. Also, o
supplemental report Of the operations Of the Peni-
Tertiary from the 1s of January to the 1st of May
1873 Also the report of the commission appointed
by Alsjor.General Candy to investigate certain
charges Of hGrshness and cruelty towards conyicts
made against the Superintendent; embracing the
minutes Of the commission, the evidence taken, the
from the report of Major Lee, 1t VIII be observed
that although by the act Of September 1885, Guthor
fly was given the Governor to appoint three COM
missioners to select site for the Penitenary and
IN appropriation of 600 was made for the erec-
ton of temporary cells there was little or no pro-
eress made with the work until January, 1867 Since
that time. the work has been pushed forward with
remarkable energy and economy, aud the oonstruc-
ton, as far as IL has been extended, will show
fore done In South Carolina for the same amount Of
pubic money.
Upon examining the original report 1t Will be seen
that the value Of the work and material hand up
TO the lst OF January, 1s68 was 49, the cost
of which to the State including the expense Of sub.
ss,inr and clothing the conyicts, paying officers and
guards, and sub. listing the guards, was only ST..
l39 81. The supplemental report shows that the
value OF work done and material on hand from the
1st OF January to the goth of april, 1868, was $685.
2l9 81, from which amount Is to be deducted the
on the 1st Of January; and the aggregate Of expend
ture for the game time was S23,00i 10, showing
cafnce OF expenditure in excess Of receipts of only
81, ,2a5 90
sustained himself by his labor, but has placed the