The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1869-03-22

The repeated failures of the crops along the sea.
board and the disorganzed condition OF tns entire
region ofcoun;ry trayersed-tndicated conspcuously
in the w1etched condition of the public roads-have
com bned te reduce the freight business of the road
to the minimum. No fair estimate Of the future
tent of the local business of the road be formed
| from the data collected since the war.
Tho promises of future prosperity and success,
which, IN spite ofpast experiences seem to invite to
renewed effort must be extended to this region, ia
yored with so many natur i advantages.
Arar from the hopes of the asrculturists other in
teress claim attention. and indicate brighter future.
The discovery of the phosphate rock throughout
the coast region of South Carolina, and the impor-
tant position at ence taken By this commodity in the
ment 1terial contribution to this road, which ira
verses this entire basin.
The many advantages possessed by this deposit OF
phosphate in facility of access and of shipment proI-
unity to the great markets and intrinsic value must
affect favorably the fortunes of railroad with which
it will be so intimately connected.
MACHINERY.
Such care and attention have been given to this
property as was possible under the circumstances.
hat in use has been kept In condition to perform
the required service. while the locomotives not in
use have been properly cared for Three of the lat
ter. which were ut the South Carolina Railroad yard,
exposed to the weather, have been removed to the
depot OF the Northeastern Railroad Company, where,
by the kind perm sson of its officers, they have been
put under shelter.
Those ut the company's Yari at St. Andrews, not
weather as 1t was found possible to afford.
The wan, oil the necessary machine shops has been
felt aud has rendered repairs unnecessarily e1pen-
sive.
OF the freight cars belonging to the company,
which were a. the South Carolina Railroad. Elk
thought Of sufficient value to just fy removal;
the others were dsmantled and the iron secured.
Little change has been effected In the condition Of
tie rolling stock on the r)ad.
One trst-class coach, on which considerable re-
pairs had been made, has been finished and placed
upon the road.
second. class coach Will shortly be put into
vice, Iaviug been plainly but neatly overhauled.
Four a. platform cars have been built and others
will be added as found practicable.
he want OF shelter for the passenger rolnns
stock not in use has no doubt resulted in serious
injury from the weather, which was unavoidable
with tue limited resources at command.
The usual tables and statements. afording al in.
formation of the affairs Of The road for the past year.
ara suojolnej, to which your attention is invited.
Very respectfully, C. $. GApspES,
Engineer and Superintendent.
The 'sAct to enable tho Savannah and
Charleston Railroad Company to complete
their road" passed by the State Legislature,
and ratified I'd March, 1869, was then submit
ted, and on motion accepted and adopted.
An ACT TO ENABLE THE SAVANNAH AND cRknLRsroN
RAILROAD COMPANY TO COMPLETE THEIR ROAD.
SECTION l. Be IL enac,ci, by the Senate and House
OF Representatives OF the state of south Carolina,
now met and sittsg in General Assembly, aud by
the authority Of the same. That tho savannah and
Charleston Rairosd Company Is authorized and
empow red 10 borrow nnd raise the sum o. not M IRE
than FIVE hundred thousand dollars. to be used in
e1tcnding and rebuilding their road under the pro-
visions OF their charter.
SEQ @ That Tor this rurpose the s1id company is
hereby authorized aud empowered to lssue hords to
thu amount Of not more than Eve hundred thousand
dollars payable twenty years after the da,e thereof
with coupon httiched for interest, a the rate OIL
seven per cent. per annum, payable semt-annual!y.
SEC. 5. That the said company is hereby further
authorized and required TO iund and redeem the
coupous for interest of the bouds of the Charleston
and Savannah X i!road company guarsnteea oy tue
State, now past due aud that may fall due on or be.
fore the first day CT September, 1868, by issuing
therefor an equal amount OF their bonds, Will c0u.
pons attached for Interest payable scnii-annually at
the rate of seven per cent. annu, aud the prln-
cpal TO Lecomc due in twenty years utter tho date
thereof. Aud the payment OF said bonds so TO be ls
sued IN substitution for interest coupons SHAH be
guaranteed by The state i'll the sane manner and ~
fully Us The original bonds of the Charleston and Sa-
ysnnah Railroad Company are now guaranteed, SUBJ
ject however, thu povsions OF S:clion OF this Act
SEC 1. lie bends bereinbcfore authorized tor re-
building said road shall be usd exclusively lor the
building ibcreo ani the OUTFIT Of the same; salary
shall be paid to any officer of the said road out CT the
funds 30 ruised by this act.
SEC. 5. nc said railroad company snall deposit
the interest on all their AFORESAID bonds as 1t be-
South Carolina, in the City Of New York. and shall
notify the creditors Of the same by public advers-
ment in one newsp per III New York, ole III Charles
ton, and one in Savannah and If said company shall
fail to pay the interest its debt within SIX months
after II shall have become due, fail to pay or
provide TOR tie payment of the principal OF is debt
within 8 months after it shall have become due,
It shall be the duty of the Comptroller OF
the state and ha shall have the power to take i'm
mediate possession of SAID road, with al its appur-
tenances, and lease the same to responsible parties
who shall have control thereof, until the General
Assembly shall, by law. provide for The settlement
of tue affairs of sai company in the interest of all
its creditors The Governor OF tue State is hereby
authorized and empowered to appoint two directors
to represent the State in the direction of SAID COM
pany.
Carolina said ID SHALL the is.ue or the bonds
provided for in and BY the rst section OF thus act
be pos poned and bucome second lieu. which said
second lien shall extend over and cover the whole
road its outfit and real estate fully as is already
provided for by law. The said road shall be compile
tod by the first day Of January. 1870
SEC T. This act shall not be Of force until said sa-
vannah and Charleston Railroad Sompany consent to
the amendment OF thoir CHARTER that the property
of Baid corporation shall be subject to ta1atien In
conformity with section Of article II OF tho consti
tuition. and said consent be certified under the seal
of said company, TO the Comptroller. General and
secretary OF state. Upon the filing Of said consent,
the said charter shall be deemed aud held to bc mod
fed in conformity with slid section of tue con tu.
ton: Provided. that no tax email be assessor or levied
upon SAID road until the game shall have been COM
p.eted.
In the senate Housc, the second day Of March, in
the year OF our Lord QUE thousand eight hundred
and sixty-uine. ca. W. MONTGOMERY,
President of the Senate pro tempore.
FRANKLIN J. MOSES. DR.,
Speaker House Of Representatives.
certify thai this act originated iu the Senate was
presented to the Governor for his approval. Wsdnes
day. March 3, ll.30 a. N and has becomJ law by
.suro of its return to the Senate within the time pre-
sclibed b., the Constitution OF the state.
ATTEST ]. WOODRUFF, Clerk of Senate.
SECRETARY OF STATES OFFICE.
COLUMBIA. S. O., March 8, 1859.
IF L. Cardozo, Secretary of state OF South Csro.
lima do HEREBY certify that this is correct copy Of
an act entitled can net to enable the Savannah and
Charleston Railroad Company to complete their
road, filed In this Office.
Given und T my hand and the seal of the State, in
Columbia, this 9Th day of March, a. D. 1869. and
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