The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1868-12-22

the pr0pltl0uS time nr ner 10 uoso ~ g.
Joining the State, in additional aid to this only
| link for her, to the great West, and By, COM
mencing now TO secure such interest," auG oun IL
troll in the railways of the State as to make tne
most important Of them tributaries W nei
wealth.. .;. J.,
It may be that an additional SUBSCRIPTION 70
the stock Of the company Woulo pe CnG mOs H,,,t
! IF this is not now practicable, then the city
MIGHT ioin the State in lending the company
the credit of the city for limited amount.
| But these are cousideratl )ns wnlch tue clCy
authorities and the intelligent ana enterprl-
| sinr citizens OF the city must determine TOT
themselves. The board can only hope that
they may realize the Importance and necessity
or prompt and efficient action.
The South Carolina Railroad Company, q
great and powerful corporation, with eredlt
and influence almost unimpaired ty the re-
suits of the war, should come to our assistance
and aid in the speedy completion of this road,
which would pour in and upon her and the
City of Charleston the rich treasures OF the
great West. If these, our just aud reasonable
hopes of aid from such sources, are dlsap..
pointed it behooves our company ana those Oh
us in charge of it's interests to inaugurate, at
the earliest day practicable, measures for re-
sumlng the work at least upon that part OF the
line between Walhalla and Clayton. The tun-
nelling, gra ding, masonry, &C., are lar ad-
vanced and it will require but little over one
million OF dollars TO complete this section OF
the line.
When We reach this point the difficulties are
surmounted, the mountains are scaled, and we
may confidently expect that the road will COM
mence to remunerate the State for the heavy
expenditure. At Clayton we will command the
trade and travel of twelve or fourteen counties
of Georgia and North Carolina, now almost en-
tirely diverted from us. We Will encourage
the large and powerful interests now concen-
m DunEtnwn
tempt to unite with US at that point. We Will
excite the hopes Of our friends along the
line to Knoxville, down the Tennessee River,
and force them to come to US with material AID,
to insure the speedy completion of that part of
the line. II we are in earnest we must build
our road to Clayton in the next twelve or
eighteen months, and the board call upon the
stockholders to support and encourage us IN
this endeavor. 1t can be done, and it must be,
II we intend to keep pace with our enterprls-
ing neishbors of North Carolina.
Before commencing new operations, now
ever, it would be we'll to adjust all old matters,
if possible. There appears on the books o
company large amounts Of subscriptions OF
stock not paid in and not called for since the
late war commenced. This should be arrang--
ed in some satisfactory way, and the board
would recommend that the remaining install
ments unpaid should be promptly called fer,
and if unpaid should be forfeited in whole or
in part, as the stockholders may deem equita-
BILE and just.
The report of the Superintendent, Mr.. Gail
lard, will exhibit the condition OF the road,
rolling stock, and what steps have been taken
for repairs of locomotives, &s DC. c.,.,,;o
The lease to the Greenviue and Columbia
Railroad Company expired on rhe first day OF
June last, but has been extended from month
to month by agreement between the parties
upon the same terms as ascertalned IN the
lease.
The trains have been running daily on our
road with great regularity, snG the business
has increased beyond our expectations. The
Greenville and Columbia Railroad has kept our
road in as good order as could be Justly hoped
for under the circumstances, and WILL be rehdy
10 surrender the operations Of the road when
ever the company is prepared to resume 1t.
The bonded debt OF the company remains IN
the same condition as before reported, except
the accumulated interest. This debt is to be
extinguished, however. out of the proceeds OF
the first million Of bonds, guaranteed by the
State, so that the mortgage shall enure to the
State.
The floating debt should be provided for as
soon as the financial condition OF the company
will justify it.
lars from the State Treasury will be used In
msterial and repairs of the locomotives, road
bed and contingent expenses necessarily In
Cured in the interest OF the company.
The board cannot conclude this report with
out an expression of their profound sorrow for
the great loss the company has sustained IN
.ie death of the late Judge Edward Frost,
which occurred since our last annual meeting.
From the inception of this great enterprise
down to the time OF his death, Judge Frost was
pre.eminently it's friend and arGent defender
and advocate. For many years, as president
of the company, l., discharged the duties of
that Office with singular zeal, ability and firm
ness, and retired from its arduous duties to
the great regret OF all connected with the COM
pany.
half Ut the company will long remain as testl-
monials Of his great ability. Yet it would be
pleasing duty if the stockholders could. at some
propitious moment, evincc their admiration
and respect by some fitting memorial.
J. ". HARRISON,
President Blue Ridge Railroad Company.