Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1869-06-11

Gu1HE W ACaA 1ACSO ASn0AS@io
pirate about the abomination, in "effete
Europe" of the very same practices which
they have inflicted upon decrepit liberty
in America I?
"Thou fool ! first take the beam out of
thine own eye, and then shalt thou see
clearly to take the mote out of thy brothers
eye"
Wilmington, Charlotte and Rutherford
Railroad.
It is the usual fate of public servants,
that complaint will be made against them
no matter whether they do thing or leave
it undone. We notice that the Ruther-
ford Star, sometime ago, complained of
Colonel CowAN, President of the Whining
ton, Charlotte and Rutherford Railroad,
because it understood that he was about
to put the road under contract. The Char
lotte Democrat, noticing this, thinks that
the complaint ought to be exactly the other
Way-tha complaint ought to be made,
and is made, of him because he has not
put 1t under contract. " inasmuch as he
has at his command one or two millions
of dollars" We do not know whence
these gentlemen derive their information,
but we are sure that the fact that this
Company has such an amount of money at
its command, will be news to the people of
this section, and even to Colonel CowAN
himself. Under the amended charter of
the Company the President is to receive
from the State one million dollars of State
bonds but these bonds had not been re-
ceived when those articles were written.
They have been received within the past
day or two, but there has been no time to
convert them into money and, when so
converted, they will not amount to one Or
two millions OF dollars by good deal.
We think we can assure our cotempora-
ry of the Democrat, that Colonel CowAN
has been quite as anxious to complete the
one Division of the road as the other and
that he will put the whole line under con-
tract just as soon as he can see his way
clear to pay for it. The reason why he
has not done SO before was fully explained
by him at the last stockholders meeting,
and we venture TO say that bis explanation
was entirely satisfactory 10 every man in
the meeting, except, perhaps. one or two,
who came here determined not to be salts
fed. We cannot pretend to give that ex-
PLANTATION now, but there WIS one point
which we remember, and which we are
sure will have it's effect upon the Democrat.
He was able to work upon the Eastern Di-
vision, and to borrow money to be expen-
Gedupon that Division, because it was
showing clear profit yearly of 1925, 600.
n the contrary the Western Division had
not paid its expenses since the war. It.,
therefore, had no money of its own to be
expended in construction, and capitalists,
acting as ali prudent men will act, posi-
lively refused to lend money to be expend-
upon road which had no prospect of be-
coming profitable until the gap between
the head of the Eastern Division and
Charlotte was completed. This is so plain
that it requires no argument to business
men.
But we have repeatedly stated that we
did not pretend to represent Colonel
CowAN, or to speak for him. He is one of
those men who generally keeps his own
counsel, and persistently avoids anything
Ike an appearance in newspaper contro-
versy. Though he is an intimate personal
friend, he frequently refuses to talk with
us, for fear that We will even unwittingly
drag his business matters before the pub
lie, and when he does it is always with
many cantions as to what we may, and
what we may not use. We say, therefore.
Ehat we have said to-day from our recol-
fections of the proceedings of the last
stockholders meeting, and we do now, as
we did at the last meeting, extend to all
persons interested in the road, cordial
invitation to be present at the meeting for
reorganization, which has been called in
this city on the 29th day of next July. We
have no doubt everything will be thor
onghly ventilated on that occasion, and We
anticipate lively time.