Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1871-01-06
FOR tho Journal.
WiIna gtOn aAd OnsIow RaI1rOad-The
Meeting AI JackaOnvine-The Road TO
be BaIIt-UnantmOus Voice OF the Meet

Meeting nI JacksOnvine-The Road to
be BaIIt-Una tmOus Voice OF the Meet
ing.
JACKSONVILLE, Jah'y 2, 1871.
At meeting held this day for the pur-
pose of taking action on the plan for build
ing Rail Road to Onslow county, DR..
E. W. Ward vas called to the Chair. with
5. nj. Wooten, Esq, acting rs Secretary.
Major McClammy read the charter for
the Wilmington and Onslow Rail Road,
and after explaining the several very liberal
clauses quoted in the charter, read the fol-
lowing proposition addressed to the COM
mittee on Wilmington and Onslow Rail
Road, appointed by the citizens of New
Hanover county
WHINING TON, n. O., Dec. 30. 1870.
The following proposition for building the Will
u il gtOn and Onslowl Rail Road has been submit
ted to us by party OF known responsibility aDd
Ures based on tue road FROM Wilmington to jack
sonvilie, and assuming the distance to be (5O)
fifty mics estimated cost Of road ready for
business. $500 O0O) three Hundred thousand col
lars, which amount q capital stock, contracting
party agrees to take, Issuing first mortgage Of
$3.50 900 ttoo hundred and ffty thousand dollars
on the road, together with franchises, prop
erty, &C., as rual in Rail Road mCrtgs GEES
1onds 10 bear interest at per cent. per an
mum, payable Seml-AnDually, interest to COM
mence twelve months after da g of issuing bonds.
The bonds to be subscribed Tor instead OF 'ock.
Work on the road to commence as soon as 20 per
cent. of bond cubs criptiOns shall have been paid.
Bond subscribers to elect their. own trustees, say
five moro, to " hOm all monied subscriptions
are to be paid. AS guarantee to subscribers to
bonds of the faithful performance OF the contract
the party agrees to build the first (5) i've mile g
Of road out OF Wilmington before any money shall
be paid him The Trustees paying contracting
party ($5, 50O) tiUe thousand EUe Hundred dollars
per mile for every additional mile completed, and
balance on completion OF the road. Subscribers to
bonds failing TO pay all their installments may
be fixed upon by the trustees. forfeit all former
payments as damages for non-fu flIment of con-
tract.
The mortgage to secure bonds is to be so drawn
to place the road aud all the property in the
hands Of the bond holder, default of interest
for the space of sixty days. The contractor
agrees to have the road finished in ten months
from date Of signing of contract, if Stones Bay
be the terminus, in fifteen months il it goes to
Jacksonville.
of h;ures) is made for the construction of road
from Wilmington to stone Bay. The cost Of con-
struetion &c, ready for business t$225. GO0 t,oo
hundred a4tG ttcentV-tiUe thousand dollars. The
amount OF First Mortgage bonds to be subscribed
for $500 0O0) t,CO hundred thousand dollars. All
other clauses &c, are the same as for road from
Wilmington to Jacksonville The distance from
Wilmington to Stones Bay is assumed to be (35j
thirty six miloe Should the road be built to
Stones Bay, any other point on New Kiver.
between Jacksonville and Its mouth the COL
tracing party agrees TO run ono or moro steam
boats the river for the convenience of chip
pers, &C.
F. W. KERcHSER, Ch'mn.
u. X. MURCHIsON,
ROGER MOORE.
Afterward, MIR. James G. Scott and
others, in clear and practical manner,
advocated the building of the Road from
Wilmington 10 some point on New River.
On motion. committee of five Was ap-
POINTED to cooperate with the County
Commissioners and two Of the delegates
from New Hanover, the Chair appointing
on said Committee DR.. o. Duffy, Sr., Col.
s. B. Taylor, DR.. r. ". Ward, d. II.
Henderson, DR.. NJ. G. Hoyt, Col. Roger
Moore and Maj. G. ". McClammy.
On motion the meeting adjourned for
half an hour, at which time the Commit
tee made their report.
The meeting reassembled VIXEN the fol-
lowing report was made:
Resolued, That this Committee recommend
subscription of $50, 900, to first mortgage bonds
of said Company, said Company age eing to
tablish communication between Wilmington and
Jacksonville by rail to New River at or near
Stoney Greek, and by steamer to jacksonville
and head waters of nav ga ton on said New Riv
er, within twelve months after operations are
commenced on said Road, extending said Road
to its terminus at Jacksonville additional sub
scriptions are made by counties and individuals.
q. DUFFY. Sr,
b. Z. TAYLOR,
r. W. WARD
ID. r. HENDERSON,,
III. O. HoYT,
ROGER MOORE,
u. w. MCCLAMMY
On motion the report was submitted to
the meeting and adopted by a unanimous
vote.
The meeting then adjourned.
j. M. WooTEN,
Secretary.