The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1871-09-16
H,yse, s':rol!ssp Railroad lease.

! trrICE y. =. RAILROAD Coz
! CoMrANY's HOPS, \. G., Sept. II, 1871.
. 10 the Sfcchbo'iDs Of the y. c. r. Il. Co.:
! i;rutirm n,-!hc directors OF the Nurth
Carolina Rai'road Company on yesterday
leased t. he Richmond and DanVllie :'iilI,
road Company tae North Carollna raitfoau
for lhi,,y Years for six and one-hali per
rrut. ON he capital stock Of the company,
or i,yo hundred and sixty thousand dol
lars rpr annum, payable Scm-annualiy,
,,iff, The airnIesr guarantees Tor The certain
o,,; ,ra,nrt payment Of the rant and the
r,uurr uaintclance, preservation, alu
nn~r,,ion of Tie line. This course was
thought l.y tie directors not only proper,
Int uuder the circumstances necessary TO
gave t1c stockholders from gre It loss. This
had become obvious from many reasons. l
win only Tor The present state a few oil
them.
I;nc Legislature OF 1SG9--'70 granted char
tcrs to companies, empowering them TO
build railroads parallel with our road from
Greensboro To ChlrIotte. .ine or more
| of tie G havr PASSED into the ha"ds Of the
| Richmond and Dnville Railroad Com
| usav, WHO were preparing TO use the lr&ii-
elise il driven /, that necessity by the
continued refusal Of This company To make
! any terms of tire common use of that part
Of tne line. Bills were offered in the last
Legislature to repeal or modify these char
tiers. rhe Legislature refused to ntcr:crc
with hem. In fact the day 0i rclu Ing or
jrrpralin4 charters i'nr railroads had passed.
This is az age OF building roHds, not sup
tpgc>sug theln. We must rrcOgi.iza these
indispulahla facts. Thus left TO the con-
test with compelin" Interests, we have en-
dcavorcd TO make HE most OF the situation
for your Protection
! 1t i now well understood that the capt.
4 q az Al nj nI, IN
t9u! ralroad have become largely Interested
IN HE Richmond and Danyi.c Railroad
L. Company, and supports lis wcl-known
riortS TO pass us line th"0ur h 10 the Air
iAnc road and ofhcc leading connections
south of Charlotte. Backed by tha new
and powerful combination, the Richmond
: and Danviiic Eai'rcad Company renewed
thcr offers for your line, rather than enter
The he ,per and final contests with You bv
The investment Of further capital in Il
parallel road, which once invested must
forever remain on" competitor. The kir-
| Line rairond from Charlotte to Atlanta,
under The control Of the Richmond and
Danrille railroad, thus reinforced, is being
rapidly completed. A majority Of the
= stock Of the Charlotte, Columbia and All-
gl>n Il. X. 60. has been recently bought
, | lay combination OF the SINE interests,
Having secured this key, as soon as they
assume control OF that road 1t would be in
3 | their power 20 cut of all our through pas.
: Sensers aud trc'@h's, and thereby Il duce
. our income below tie possibility OF regular
dividends. The Il. 4 ID. and Airline T..
Il. Companies having secured charters en-
: either side oi Us from Greensboro to Char
: tottc, they would have immediately COM
menced the CoGsti IL ton OF il road from
Greensboro 10 Charlotte to connect with
the Air. Lane from Charlotte 10 Atlanta
This, as every one can plainly see, wouli to-
tally destroy our road. Therefore, The lease
WAS Ill imperative necessity. This road has
, been and would have continued to be the
mere foct-hail Of party, and your interests
the prey of politicians. BY the contract we
have made, certain and reasonable divi-
= deDu is secured to the stockholders. By
leasing it your stock will have L fixed value
and will be worth twice as much rs you
jcSuld have procured for it at any
rou.htare will undoubtedly now be
organized through our State. Freishts
viii be cheapened along its line, immgra-
ton will be encouraged, your towns aud
cities built up. anu many great and perma-
nent advantages will flow front the intro
| duction of the large capital which will seek
our state through the influences controlled
| by or identified with the leSSecs Of this road.
| Their power, purposes, aud advantages OF
situation referred to, we could neither IT,
more nor control. The question was how
best to meet them, SO as to protect and Sc
cure your interests and those Of the people
OF the State. e.s.-
In the contract made We have secured
terms and compensation which We believe
fair and reasonable, and were the best that
could be oblained under the circumstan-
ccs. We did not believe This company
could successfully cope with the powerful
and well directed capital That we had to
meet in the competition to be commenced
or provided for, without serious damage
to our income for an indefinite period |
of time; and we were convinced, there.
fore, that it was better for the inter-
ests of the stockholders, when another