Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1870-01-14

aroshlp, which we have rendered to you,
year alter year, you cannot complain that
you have not been advised of them. While
we have placed before you the bright
hopes which we have sometimes INDUCED,
we have warned you, in unmistakable Ian
guage, that those hopes could not be real
lied until there was permanent settle
ment OF the political condition of our
country.
gaThe Report again refers to former Re-
ports to show that the Board had always
entertained the opinion that the difficult
ties attendant upon the progress of the
Road could not be overcome until the po-
itical condition of the country was settled
and public confidence restored The Re
port continues
" And thus, through every single one
OF our annual reports, we have conveyed to
you the opinion which we have always en-
tertalned, and which we suppose must
have been entertained by every rejecting
man among you-that work of the magni-
tude of ours, which had been so thorough
~ disabled by the results of the war, could
not be completed until peace, and quiet
and confidence. and political certainty,
and healthy condition of business were
restored to the country. We entertain
precisely the same opinion now. We see
nothing IN the signs Of the time to encourage
the hope that your Company VIII be any
more independent Of the political situa-
ton of the State and the Country in the
future than it has been in the past and
we say to you, without hesitation, that
you must learn to exercise such patience
and wisdom as will enable you to bide
your time. We do not claim to be tree
from the liability to err but in reviewing
our whole course, and with all the lights
OF four years hard experience before US,
we see nothing that we could have altered
under the circumstances as they existed at
the time, and the only error which we
have committed Is one which we have
shared in common with every honest and
patriotic mind in the country. We did
not suppose that a great Government,
which had solemuly determined upon tie
reconstruction OF the Union, and which
had expended four years of blood and
treasure to accom- plish it, and which had
the power, in the most unlimited sense, to
accomplish it at any time, upon its own
terms-we say we did not suppose that this
great government would permit it to be so
long delayed, much less that it would ex-
pend four years more Of treasure, and
fraud, and inlsehood to prevent it,
The length of Colonel Cowan's RepoI t
compelled us to omit the concluding pages
on yesterday. In regard to the amend
ments TO the charter and the re-organiza-
ton of the Company Hereunder, the Re-
port speaks as follows
"We come now to the closing act of the
drama-the enactment Of the two bills
which constitute the amendments to the
charter under which the Company is now
re-organized. We desire that all which we
had to do with the passage of these two
70 ol,on no 101o hpfnra nd Ia q
matter of record.
eve determined not to approach this
General Assembly for any assistance for
our Company, because we believed that it
was unnecessary, and that the State was
not in condition to make appropriations
for any purpose. Accordingly we did not
go near the capitol, nor communicate with
any of the members, until the bill to divide
the road had been introduced, and had
passed one branch of the Assembly. We
knew that it was our duty to defeat that
bill if possible and, therefore, some of US
proceeded to Raleigh to do all which we
could do to that end. On our arrival in
Raleigh, we found that the dominant party
were determined to pass this bill, Oh
some other, which would place the control
and patronage OF the road at their dlspC-
sal; and, although We knew that we could
defeat, before the stockholders, any bill
which they could pass before the Assem-
bly,, vet we also knew that this would not
be the end of it, and while conflicts Of
that kind we're going on, that the interests
of the Company would greatly suffer
perhaps to it's ruin. Besides this we were
placed in an exceedingly delicate position
| for we did not wish to have even the ap
pearance of subordinating the interests O
| the Company to our own interests or tc
our own wishes We therefore approached
some of the leading members of the House
and frankly telling them our position anC
| the consequences which might ensue, We
| handed them the memorandum of oil
containing the very least the Company
would accept under the conditions which
| we knew the General Assembly would i'm
pose upon US. We told them positively
! and repeatedly that we had not come tC
Raleigh for the passage of this bill, or any
other bill-that we had not asked for any
appropriation FROM the State since th'
war had closed-that we did not think thu
State ought to have made any appropria
! tons until her credit had been properly es
tablished-that as citizens of the State WI
were opposed to all the appropriation
then pending before the General Assembly
including that for our own road and tina
if we were members of that body WI
should vote against them all; but-and WI
think we quote the very language which
we used on this occasion-si1ace they a0er
determined to pass some bill affecting or
Company, SO as to place al ae'ader The cont''o
Of their oaon, party, zoe had to say to then
that If they a0Ould pass an honest bill, honest
iy intended 10 complete the road, aoe aCo,GLd nc
stand IN their aUdy. We make no claim TO
any credit which attaches to the passag
of the bill, except for putting it in the bes
possible shape for the Company, and w
assume mono of the responsibility.
We deem it proper to state in this con
nection, in justice to the gentleman wh'
had special charge of the bill before tn
Assembly, that he did all which he coulC
do, outside of the principal object of plac
ing the road under the control of the Re
publican party, to make the bill as liberia
as possible to the original Stockholders
and that he attempted even more, which
the sentiment of his colleagues would II o
permit him to accomplish. The bill wa
not passed in the shape we preferred
There were several provisions stricken out
which we Thought were Of importance Il