The Newberry herald. [volume] (Newberry, S.C.) 1865-1884, 1870-01-05

: MsLfiSgs Notices, Eanersl Invitations, obit,
',stptefests, arc'charged as ndvcrtiscments.
g
The Greenville and Columbia
ti3 Rallroad--Important Pro-
i'54posal : from Pennsylvania
,s;;s}Gapitalists.: &sa
nj Tho Greonyillo Enterprise says :
r. - - We aro Informed that propo-
;sition was submitted to tho Pres.
s,idont of tho Grocnvillc and Colum.
bid Railroad Company, by the
fngents Of Mr., Thomas A. Scott,
President Pennsylvania Central
Railrood, and Mossrs. Henry Clews
& Co., bankers Of New York city,
to leaso tho road, with n request
that |ho would submit it to the
Board Of Directors at their next
meoting,nld ifit should meet with
favor then ,toislbmit it to called
meeting Of tho stockholders, for
otheir action. ~ AT their request tho
proposition was submitted to tho
Roard, at their meeting, in Colum-
BID on tho 10th inst, but was op-
posed by aportion Of tho mombcrs,
sinrd laid on the table. The Board
adjourned to meet again on tho
evening Of tho 18th, but previous
to tho meeting, tho President re-
coivcd ~ letter from tho agents Of
sthc, parties proposing to lease, ask.
ing leave to withdraw their prop
osition, which was consented to,
and "thcro> tho whole mattercnlcd.
f. Below we give = copy Of he
Terms proposed, and also Of the
letter Of the agents. asking leave
" WITHDRAW their proposition.
Metmay add that VIC are Informed
that the expressed intention or
the c,agcnts was % extend the ,.oad
trOn, iGrcenviIle.1u Asl,cv;lIc, and
from Ncwbcrry TO Chester, and
from a bteville to Washington,
GAs and to cNtcud the Ilaurcns
Road to Grecnviilc> and further TO
Improve tho conditions oi the road.
30 rs to make n iirSt class road.
ave arc further informed that
Mr.. Scott, ono Of tho parties is
now working, successfully, over
five thousand miles ofrailroad, and
is regarded thp first railroad man
in America, or perhaps in the
world; aud chat Mcssi's. Henry
CLOVIS & Co., Of New York, stand
second To mono in that city for
capital and business capacity.
]. 70 lease the road for twenty
orstWcaty>fve years,
q. 'To@pa the interest on the
eatire funded dobt Of the company,
and to continue to pay it promptly
As It natures during the lease, also
to- pay tho floating debt Of the
company at tho time the Lease
cQ3tlAa enccs. =.
%! To'a,uy all the stock offered
within ,Qne year from tho date Of
tho comm cnccmcnt Of the lease ot
30 per share, cash. '"'
4, 70 tako up%and rc,,;;ay all tho
light iron on4tho Rad lsav fifty.
i've milcs) w. 4 rail Of not loss
weight: tth,,an flfty pounds to the
yard, within two yoar, from tho
commoncoment'of tho lease, and
to,relny all tho balance Of tho road
whom -neodou with similar iron.
= D. 10 Improve tho condition of tho
rolling stock tie road vii hin one
! year, ,&nnd~make it equal to tho re-
4 4niremonts Of the road, and to
J, keep u NJ, TO- tho improved con
1diti0n, daring tho loasn,
20. 70 build q telegraph limo
alongstho, entire limo, as soon as it
tGnni be dono.aftor tho commence.
! mont ofthoioaso, or.within noyenr,
provided oharter for Tho same,
wlth5the necessary legislation can
DO obtained from tho Legislature.
: = Torodueo tho rates OF rrci ght
md passage at onco twenty POI,
CSnt:&bcloW presont ratos, and not
TO Increase it abovo That reduced
rate during tho loasc.
8. Yo'aoposlt o sufficient amount
ofbonds and stock with tho com.
pany, or In plAoo agrood upon, rs
security for tho faithful and
prompt carrying out. Of tho con
tract or loaso. %%
0. Tornntho rond regularly du-
ring tho torn, and. to turn il ovor
to tho company ut Tho termination
Of 1t, In its improved condition.
COLUMBIA, December II, 1869.
,Col, AZ T.. Uammett--DEAy SIR
! understand that your Board does
not heartily accord with tho pro.
position to loaso tho GrocnviIc
Road, md also that more favorable
propositions than tho ono sub.
= mittcd could Be obtained in case q
lrNSr WlN tlnNntN,l NIL; i,in44 =