The weekly North-Carolina standard. [volume] (Raleigh, N.C.) 186?-1869, 1869-06-16
For the Standard.
ConsOlidatiOn-Mass Meeting in New
Berne-Trip to Beaufort and MOrehead
City-The Atlantic and North Carroll.
ma RailrOadS-The Standard, &c.

ma Railroads-The Standard, sc.
Mr.. EDITORIALS you have opened your
columns to the subject of consolidation, l
desire to lay before your readers and the
people of the State, few facts concerning
this important subject, which they probably
have not seen.
According to previous notice, there was a
mass meeting held in the city of New Berne
on the I'd day of this month, for the purpose
of an interchange of views prior to the vote
of the North Carolina Railroad upon the
question of consolidation The meeting was
largely attended Able and impressive
speeches were made by the Hon. NJ e. Man.
| ly, A. S. Seymour, Dr. NJ. F. Arendel, Maj
W. H. Malone. J. II. Haughton, R. P. Warine,
and John Manning. Jr. A considerable
number of the stockholders of the North
Carolina Road were present, and I am in
formed that many who left their homes OPP
posed to consolidation, returned IN ta0or OF
it,
Not being prejudiced either in favor or
against consolidation, 1 endeavored to learn
as much about the whole matter as possible
Mr. VIM. A. Smith, President of the North
Carolina Railroad, and no doubt great
many people along the line of his road, are
ignorant as to the true condition of the At
lantic Railroad.
After the close of the war; debt was in
CURED for material and other articles neces
sary to put the road in good running order,
to the amount of two hundred and twenty
five thousand dollars This debt has been
funded. and is the total amount of the
funded debt When Mr. Ed. R. Starry, the
present able and energetic President of the
Atlantic Road, went into Office, he found the
operatives on the road, with the exception
of favored few, due four months wages.
It will be remembered one John D. Whit
ford was President preceding Mr.. Stanly.
In addition to the four months wages due,
there was debt of nearly forty thousand
dollars in New York City, contracted by
Mr.. Whitford. Up to this time, about one
year, Mr.. Stanly has paid the operatives
their back dues, and now pays them regu-
larly every month, and not in scrip, as did
Mr.. Whitford. He has paid the forty thou
sand dollars in New York city, run his road
for twelve months, laid down thirty thousand
new cross ties, and is making more money
than any other President has ever made on
the road In another year, he will pay up
the floating debt Of his road, which is about
twenty-five thousand dollars. Then the debt
of the road will be only two hundred and
twenty-five thousand dollars, about one
eighth of the capital stock of the road.
The debt of the North Carolina railroad
is over thirteen hundred thousand dollars,
about one-third of the capital stock. Thus
it will be seen that so far as the indebted
ness of the two roads is concerned, that of
tae Atlantic is great deal less than that of
the North Carolina road. Both roads are
in splendid condition. Both Presidents are
men of business qualifications, and are ma
king more money on their roads than ever
before. Such being the case, unless both
roads can be materially benefited by con-
solidation, they should not be touched. If
we do as every other State is doing, we will
great portion of the proceeds received from
the transportation of freight over the North
Carolina road is divided with the Raleigh
and CASTOR, and other railroads. The State
owns threefourths of the North Carolina
road, and two-thirds of the Atlantic road.
If the two roads should be consolidatedi the
dividends accruing to the State from the
receipts of the road will, in one or two
years, be sufficient to pay the current ex-
penses of the State government Why
Because the through rates from Charlotte to
New York by Morehead City will be SC
much less, the time as quick, transportation
cheaper, as safe, and only one change Of
freight, and that at Morehead city. The
harbor at Morehead is as good as any in the
Southern States. The great bug a-pooiaboui
the danger of Hatteras and the N5rth Caro-
lima coast is gotten up to deceive those
not familiar with the North Caroline
coast. When did there occur a ship
wreck off Hatteras! 1t has beer
sometime since there was one, and then. i
happened to a vessS swhose pilots knew
nothing of The coast Gkny North CAROLYN,
pilot can ply from MSFehead to New Ypri
his life time withoat an accident, unless
from some other cause save the causes o
nature-the coast as it now is.
It is commended by some, if the Roads ar
consolidated there will not be any NOR
freight sent by Morehead City than there il
now. We deny this. If freight can be car
ried as quick, as safe. and for lower rates
who will dare say SHIPPERS will send thei
freight by another soqtt2 There will b
freight enough sent by ,!Morehead City. t.
employ daily line of steamers from tina
city to New York sm informed that ther
T is a Company in New York ready as soon a
the roads are consoE idated, to put on dali
line of frst-class steamers from Morehea
f City to New York City. Such are the fact
| connected with tins great question. TIL
people from Goldsboro to the coast al