Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1873-02-21
CORRESPONDENCE.
Adjournment of the Legislature
The Constitutional Amendments
The Western North Carolina
Observation-Disclosures Future.

OF It's session, Wrdpluly uIiHhS w @
close. The Committee appointed to
look into the condition of the business
on the calendars will report or Mon
day, recommending an adjournment
on March Sd. A minority report will
be made recommending an adjourn
ment on the oath instant, but think
that, even with night sessions, the
work cannot be completed by that
time. In advance of any action on the
question T feel warranted IN stating
that the adjournment will be on Mon
day the Sd of March.
As has been published, certain OF
the Constitutional Amendments which
have passed the Senate have gone sue
cessfully through two readings IN the
House. and as foreshadowed by a
speech of Mr.. Badger, OF Wake, the
leader of the Radicals in the House,
will pass to an enrolment by the
requisite majority. 1t viii be neces-
sary to pass supplemental bill pro-
viding for their submission to the
people of the State for ratification or
rejection at special election. The
opinion prevails here, as these amend
ments will have been carried with the
aid of some of the Radical members,
that it will be best to order an election
at an earlier day than the first Thurs
day in August next, in order, As far as
possible, to separate the decision upon
the amendments from political lnf1u-
ences and considerations. It is thought
that the election will be fixed for some
day during the Spring.
The question which has created most
interest during the week arose from
the introduction by Mr.. Flemming,
the interchangeable Senator from Mellow
ell, of resolution directing the Gov
ernor to take an appeal against the
| Judgment ordering a sale Of the East
ern Division of the Western North
Carolina Railroad The condition of
this road was fully explained in q
former letter to the JOURNAL. The
resolution has passed both Houses,
and the sale fixed by the decree for the
ODD of this month, will not take place.
Our Western friends are much
troubled in regard to the precarious
condition of this road. Members most
interested in its early completion are
divided upon the resolution. It seems
that all favor a sale Of the road, but il
is feared that it may fall into the hands
of parties who viii not complete it
Some contend that, if the Southern
Security Company buy it, it can get
| better terms from Malone for then
Western freights, seeking the Atlantic
than by completing and running i
themselves. If, on the other hand
Malone gets control of it, all hopes o
its completion is gone, IS he viii 40
permit such dangerous rival 70 b
built. There are intinations tina
agents of Tom Scott on the one hand
and Malone on the other, are busy q
work here in the interests OF thei
respective masters. This | doubt.
Malone can hardly afford to spenI
eight hundred thousand to million
dollars for the purpose OF tearing up
road. He has about exhausted all hi
resources and credit, both in thi
country and Europe, i'll the vain etfor
to reach Cumberland Gap. And who
ever purchases the Western Nortl
Carolina Railroad must either complet
it or tear it up, for, in its present con
dition. it is not only unprofitable. but i
run at a loss.
| On the other hand the Southern
Security Company needs it only +
secure q connecting link between it
| Tennessee and Virginia Railroads
without paying such e2slorbitant toll
to Malone which he now e1ects. l
the road could be built by anothe
Company, forming competing line
the Southern Security Company coult
| spend its money to better advantage
in purchasing or building other roads
| In fact, ! learn that an agent OF tina
| Company has offered theroad, for wlla
it cost them, free OF al membranes
some eight or nine hundred thousand
dollars, cxacting only the condition
that the usual tariff FOR freight shall b'
| charged them.
The hypothetical mortgage bonds
! for which the States interest wa:
about to be sold, amount only to two
| hundred and forty thousand dollars
| There are other debts due by the Com.
| pany amounting to some five or siz
| hundred thousand dollars, three hun.
| bred thousand of which. are said to be
fraudulent. The Southern Security
| Company owns these bonds and other
| evidences of debt It has thus the
advantage Of any others desiring tc
| purchase It is thought that the
advantages to be derived by the delay
caused by the appeal, are that the
Southern Security Company can lily
afford to have million dollars tied up
| in an unfinished road, operated at a
loss, while Malone, at the same time,
is bleeding it on his Virginia line, be
cause the North Carolina route is not
| open. This would be calculated tc
| force it to sell their interest to bona
tide purchaser, TO whom the State
would also sell, having guarantee fol
the early completion of the road.
And here begins to develop vii
| mington's interest III this complicated
affair. Beyond question, our port is
the natural outlet for the country tc
be tapped by, and to contribute to,
| the Western North Carolina RAILROAD
| when completed, even should its con-
| nections extend TO Cincinnati and
Louisville. Why, therefore. should
we not look forward to secure