The weekly North-Carolina standard. [volume] (Raleigh, N.C.) 186?-1869, 1869-05-26
PRESIDENTS OFFICE, N. C. R. r. Co.
Comnanlu Shous. N c.. Mnu Is. 1869.

Company Shops, N. c., May IS, 1869.
To the Stockholders Of the ~ G. r. L. Co.:
GENTLEMEN AT the next Annual Meet
ing OF the N. c. r. Il. Co., a question of great
interest will be presented to your considera-
ton; and in view of the weighty RESPONSE
bllity that will rest upon you in determin-
ing that question, would it not be well for
us to reason together, and thus to prepare
our minds for a proper decision. For be as
sured, there never has been period in the
history of the North Carolina Rail Road
Company more pregnant with evil to the
road than this great question of cnnsollda-
ting the Atlantic s. North Carolina Rail
Road with the North Carolina Rail Road
Company. To analyze this question, and to
present it in all of its deformity and naked
ness, would be to consume more space than
this communication would allow. Therefore,
we propose to present only few plain point
ed objections which we regard as conclusive,
and cannot be easily controverted.
First This project originated with the
property holders of Morehead City, and the
creditors of the Atlantic 6 North Carolina
Rail Road. They fear if the A. & N. G. Rail
Road is left to itself that it will never be able
to pay the debt it owes, and will be finally
sold for less than the debt, thereby causing
its creditors to lose largely. Here then we
find the key which unloeks this movement
movement conceived for sinister purposes,
and not the broad, patriotic, State pride"
movement, the advocates of consolidation
would have you to believe it to lie. Ger
tainly the stockholders OF this Company can
not, yea, would not blame these gentlemen for
trying to save their debt in legitimate way.
Yet would it not be rashness yea. folly in
the extreme, for them to involve the North
Carolina Rail Road Company (now prosper
ous) with the debts of the Atlantic 81 North
Carolina Rail Road Company, by consolida-
ton. But the friends of consolidation say
they only wish to consolidate according to
the relative value of the stock of each Com
pany-grant the assumption-this Company
would be the loser if it were to accept the
A. 6 N. G. Rail Road as a free gift, and be
compelled to keep it in good running order.
AT the last session of the General Assem-
bly, of North Carolina bill was passed al
lowing the stockholders to consolidate if
they thought proper. This consolidation
act could never have passed upon its oaon
merits it was forced through by being at
tached to the great omnibus Rail Road
schemes. If you will examine this bill care
fully, and compare it with the original char
ter OF this Company you will see at once,
that if we were so anxious to consolidate,
we could not think of such thing under
| the present act. Sec for moment. 1t wipes
out all of your original rights, and dictates
what per cent. shall be charged, land no
other" upon articles sent over the road. 1t
| is plain to see that no freight will ever reach
! Morehead City under that law, and no
through freight would ever pass beyond
Greensboro With the complications at
tending this road if it is in the least restrict
ed to a certain per cent. and mo other" you
would soon discover that its income would
not be sufficient to keep it up and pay the
interest on It's debt. In fact 1t would soon
] be as far below PER as the Atlantic Road is
now. M M
I see by circular recently issued that
Mr.. Stanly has called an electioneering meet
ing at New Borne ON the 2d of June
{ Doubtless every arsi fee will be resorted to
to get your consent to consolidation. You
proxies will lie vigi 'antly sought AFTER ant
every argument of IL drowning man will b.
brought to bear to beg you to consolidate
your road with theirs, which only means II
help them pay their debts and keep up the
road. If you are opposed to consolidation
would warn you to be careful with whom
you confde as proxy. Ii the opponents o
consolidation stand firm, we can. defeat then
by large majority, and thus save our roa'
from destruction. >a sl 81
Freights and passengers are gradually in
creasing, and our through connections wi
soon extend to Atlanta, G. When this take
place your road will pay you handsom
dividend, and your stock will go to pal
But if you consolidate all is lost, and W
will lave to depend entirely on way station
for support.
W. A. SMITH, President.
Fashionable gentlemen in Paris we'
black dress coats only at funerals. y
| othnr occosiops-at balls cnncertS Dime