Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1871-02-10


III the annexed table to bs s1t o.
On freig hts. 1859 O3
Total. ......................... ss,s7s So
sufficient explain alton of this increase
which is equivalent to an advance of
$25, 500 per annum-is that the road had
passed the Pee Dee River and gone four
miles into a comparatively improved and
populated country. The receipts from
both freight and passage are daily on the
increase, as business Is turning from it's
old channels in South Carolina to the Will
minRton market and shipping points.
When our road shall have reached Char
lotte, We will intersect the system of rail
ways, convrrginR to that point from the
North, SJnth, West and Southwest the
Nor b C4rnIins hal av the Charlotte,
COlunh hia al d AuRn~ a Railway the At
lantic, Tennessee and 0 10 Railway, Ito
State sviile. on the Wes ern n @, Railroad,
| 10y which We reach Aeheviile and West of
the Blue Ridge soon as that road crosses
| the mountains land last, but not the
| lea important IS the Great Air Line"
from Atlanta 20 Charlotte that will meet
us here, and by which the line from Will
ming'on 10 Atlanta will be shorter than it
| is by the Route Utr Augusta.
Who c d estimate the large business
that will come to the road from the Char
lotte conuectiols / lave not gone into
| any estimate due to the new lines that
will meet us tuSre, but have simply calcu-
lated the results from the present business
that flows into Charlotte from completed
lines.
The subject of our trans.continental
connection is one that should not be lost
: sight of. Our railway must at no distant
day, cross the mountains and connect with
} the valleys of the Mississippi and Ohio.
: and the Southern Pacific railway lines.
I ia oh nh fn
the Atlantic, and will pass the Blue Ridge
with grades of (6O) sixty feet to the mile,
and with less than one eighth of mile of
tunneling, or with grades of (90) ninety
feet to the mile and no tunnelling. -.-.
It is understood that grant of public
lands by Congress for the joint benefit OF
the railways crossing the mountains, and
connecting with the Southern Pacific Bail
way, Will be made at the present session.
: Should this be so, and this company re-
! ceive its due proportion, the very early
completion of this line 10 near AsheTille
and thence to the Tennessee and Kentucky
system of railways will be assured.
CONCLUSION. .,..5- .s$-
1. To sum up the main features and
, figures of this report, / desire to say /:
o Charlotte, and 43 miles west OF chat
= city, or 1853 miles of good track
. now being operated--the Eastern
o Division yielding about $1.800 per mile
in gross receipts-the Western Division
o $1,000 per mile. The cost of operating "a
= about 30 per cent. of the gross receipts;
the Western Division rather more than
o fifty per cent, which, however, would be
: reduced to, or below, that figure IL the
two divisions were come cted. ----.F = - -
Y 2. The distance between the end of the
Eastern Division track and the Western
at Charlotte is (61!) sixty.one and half
miles That connection can be EaEde for
I a sum not greater than $60G;060, at the
: present prices of iron and labor. The
Western Division can be finished to Shell
byville, III milesl for $78, 100 with fifty
J. pound rail. The whole estimate for COM
ID pleting the tack from Wilmington to
Shelbyville, (240) two hundred and forty
miles, is 1876. 80O) eight hundred and
seventy five thousand eight hundred dol
lars. ..-.....fs -cs,.-a eIEzL.g
3. The gross receipts and expenditures
for the fiscal years, terminating Aug. 81,
1870, shows annual net receips OF 1895, ,OO0)
ninety-fve Thousand dollars; and they
5 show further that the net receipts in
= crease in much greater ratio than the in
crease or extension of track. .-..... 7f.....
4. That when the track is completed to
Charlotte, that the receipts must amount
to about three -fourths of a million of dol
lafS sum amply 6uMcIeAl. uOt Only ~
q render the work self sustaining. bat to pay
an income to the share hOl ders. .-.
B. The Bondholders are therefore as
N sured OF their semi-annual interest, and
the ultimate payment of their securities,
prOridea lhe track can be carried on to
~ CHARLOTTE. If the holders OF the first mort
q gage bonds will take from time 10 time, as
the work progresses, onr second mortgage
bonds, the proceeds to be applied to the
purchase OF iron, spikes, &c, and further,
for one year take second mortgage bonds
for the interest due on their present seen
rites, the mpletion of the track is al
once assured, aud ut an early day. 81
/ am eaEe, by united effort on the part
Of the friends of tue road and fixed de
n termination your part to complete the
. work, it cau and will De accomplished, and
% such effort aud such determination am
% confident will be given it. ;" =.
. | am, respectfully, 4EG5--
. Your ob't servt, Ed. sa .te@.
G S. l.. FREMONT, /. I.
Chief Eogineer and General Sup't.