The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1870-12-15

der authority from tbe Board, has been en-
deaYoring to effect some satisfactory ar
lrangement with the North Carolina Rail
froad Company-our connecting line on 0ul
southern terminrls-that would afford thi
| and connecting lines sout b Of Charlotte {
continuous and unrestrainet transportation
| for the traffic of all kinds ma turally tributa
ry to this direct thoroughfar e. Many OF tht
most intelligent and sagaciou Of the Nortf
Carolina company, in the management ane
out of it, recognize the immense pubic
value, as we'll as the special value to the
North Carolina company ftself, of such al
arrangement, and manifest thefi' disposition
| to act upon this recognized state, Of things
| if equitable and satisfactory terms, protec'
tive of both companies, can be agreed. The
stockholders of the North Carolina compa'
| MY, at their meeting in July last, author.
| lied such arrangement to be agreed. Its
| satisfactory accomplishment is in the COM
mon interest of the two States, and, in
view of competing railroad development ,rts
elsewhere, is of vital importance to the fll-
ture prosperity Of both companies. With
the double connection at Charlotte, n. c.,
Of the long line now open and continuous
to Augusta, Ga, and the airline railway
| now under rapid construction direct to At
lanta, both having all their tributaries Of
| corresponding gauge and common interest
with this line, the unbroken connection
| through the State of N erth Carolina be-
comes a standing and c1aI1orous want Of
| the commerce and agriculture Of q large
portion of the people Of the several States
Of Virginia, North Carolina, South Carroll
| ma, and Georgia, that must ultimately be
responded to in the liberal and progressive
spirit of the age upon these questions.
Your business prospects for another year
are better than usual. Throughout the
greater part of the country from which it
is derived fruitful crops have rewarded the
labors of the dilgent farmer, and will
doubtless give new impulse to commerce
and manufactures. Between one and two
| hundred families. most of them industrious
and thrifty people Of substance and energy,
| from the northern and middle States, have
bought homes and settled in the counties
penetrated by your road within the last
year. An immense contribution of wealth
| TO the State and business to your line may
thus be secured in few years by proper
effort in this direction. These and other
indications warrant the confidence that
| your interests will have a steady and sure
improvement, if not rapid development.
Respectfully submitted on behalf of the
Board. A. S. BUFoRD, President.
Full extracts from the report of Superin-
tendent Dodamead were published in the
Dispatch several days ago.
The report Of Colonel T. M. R. Talcott,
the efficient engineer of repairs, fully con-
firms the statements of the Presidents re-
port in regard to the roadway and equip
ments.
On motion, the report was received and
approved.
Mr.. VIM. B. Isaacs read the annual re-
port of the Examining Committee.
DR.. Darlington, of Halifax, called atten-
| ton to the fact that at the annual meeting
in 1867 a resolution was passed requiring
the reports to be made up and printed
twenty days before each annual meeting.
Mr.. Buford stated that in this instance it
had been rendered impossible to prepare
| these reports so much in advance of the
meeting.
In reply to an inquiry in regard to the re-
duction of rates of charges for freight and
passengers, Mr.. Buford stated that the
Directory had authorized the officers to
make reduction of 10 to 90 per cent. on
freights on and after the 1st Of January on
tobacco, II TO ID per cent; Oh grain
freights no reduction will he made. Pas
senger rates will be reduced from 3 to
cents per mile.
Nlr. Scott, of Charlotte, said that this re-
duction was not sufficient to develop the
resources of the country. They must be
greater before the planter can transport
| fertilizers to improve his lands. The re-
suits of the war had left our people I'M
povershed, and the only way to recuper-
ate was to improve our lands. The farm
| ers are dependent upon the railroads, and
| the railroads upon the farmers. We must
build up our waste places, and he did not
care where settlers came from, so they
were not Chincse-he had as lief have so
| many balloons as emigrants from that
country. His remarks were ali in favor of
low rates for freights and passengers, and
he thought that reduction of % per cent.
| would show better exhibit at tue end Of
the year than is now given to Us. He did
not want cent of dividend if he could
only get low freights, and without cheap
| freights there is no room for improvements
| in our lands.
Mr.. Buford replied that while on all mer-
camille freights the charges were higher
than on other roads, the charges for fer
tilizsrs were less than on the same roads; on
wheat, also, it was less. With an earnest
purpose to meet this want of reduced rates,
the Board have entered upon this work
with determination to bring them down
to the lowest possible revenue standard.
AS to the charges in regard to discrimina-
nation in favor of through freights, and the
comparison OF prices with those of the
Southside road, he cited the authority Of
General Malone, who said that if his
through freights were taken away he would
be compelled to increase his local freights
from fifty to one hundred per cent.
Major Sutherlin submitted the following
81. Resolred, That it is the sense of this
meeting that the construction of railroad
west is regarded as important to the inter-
est and welfare of this company.
"2. Resolced, That the President and
Directors of this company are hereby au-
thorized to make such arrangements as they
may deem desirable with the Norfolk and
Great Western Railroad Company in order
to secure as soon as practicable the compile
ton of such a line, taking special care.
however, to protect the interests of this
company in every respect"
Major Sutherlin introduced the resolu-
tions in few pertinent remarks, stating
that it would be an important feeder to the
Danville railroad, and be one Of vital i'm
portance, not only to that road, but to the
whole State of Virginia.
MIR. Bouldin asked what kind OF arrange
ments was meant by the resolutions. He
wanted information on the subject.
Mr.. Sutherlin remarked that recent act
of the Legislature gave this company power
to- assist other roads. The board do not
know how or in what manner assistance
may be asked for or rendered. Could it be
known, specific instructions would be asked
OF this meeting. This he could say, that,
as one of the Board of Directors, he would
never do anything which he thought would
not be sanctioned by the stockholders.
Mr.. Martin, of Henry, regarded this as a
most important matter, and for the purpose
of properly considering it, he moved a
recess until TX O'Clock. viz \ s
NIGHT SESSION
At the adjourned session the resolutions