The Morristown gazette. [volume] (Morristown, Tenn.) 1867-1920, 1874-01-21
The Morristowh Gazette.
WEDNESDAY, JAN. p, 1874.
NORTH CAROLINA RAILROAD
M6TTERS.


L6TTERS.
We regret very much the unsatis-
factory issue attending the passage
of the Consolidation bill by the leg
fslature Of North Carolina. We
published last week an extract from
the AsheviIle E9positor announcing
the refusal Of the North Carolina
Road to accept the bill in its amend
ed form on account of the unneces-
sary restrictions by which it hamp-
ed the directors, rendering it, they
say, wholly imperative. The Presi-
dent of the North Carolina Road, in
a lengthy letter on the subject, de-
clares the bill worthless, as no one
will buy bond with clause in the
bill forbidding a sale of the Road on
a failure to pay interest, Another
disastrous feature was that incorpor-
g ated that the gauge should not be
changed until the road was finished
70 Paint Rock, when the very essence
Of the bill, he says, after arranging
the bonds all right, was the gauge.
The present bill is a splendid farce
"a most perfect failure! If the
bill had passed in its original form,
with power to change the gauge, &C.,
we could have with the bonds limit
ed to three and a half millions) fin
ished the Road to Paint Rock, and
had money left Another seriously
Objectionable amendment, was in linn
iting the bonds to be sold for not
less than seventy-fve cents in the
dollar This has the effect of fixing
the price ut that rate, when we,
without this amendment, could have
readily sold every bodd at ninety |
cents in the dollar, rs they would |
have been equally as well secured as !
any bond In America"
p The Legislature has again assem-
bled, after its recess for the holidays, |
and the President expresses the hope
that a majority Of the members will
have too much patriotic love for the
dear people not TO pass q supple
mentary act to answer every pur-
pose. We regret the present condi-
ton of the matter, and hope the
Legislature will remove the objec-
tionable features of the bill, so that
the enterprise SO essential to the
prosperity and aspirations of the
people west of Asheyille, may not
be palsied and fail.
The Erpostto1' publishes the fol-
lowing letter from Col. Gather en-
the subject:
MORGANTON, Jan. z, 1874.
MY DEAR SIR The Board Of
Directors Of the North Carolina
Road has had the Consolidation
Bill under consideration, and con-
cluded that the act imposes so many
restrictions upon the company that
they cannot get along with the pro-
Ject unless the Legislature will
amend the act as to the obiectiona-
BILE features. The Bill as introduce
ed was prepared and duly consider
ed by the Board of that Company,
together with the Board of Commits
siOners appointed by the Legislature
and both Boards concluded that
there were no serious objections to {
the bill, and the company thought
that they could have built the roads
under that bill and do it in a short ,
time and 60 to work Immediately.
The Legislature thought different
" and amended it in many particu- |
lars, and destroyed its efficiency, and I
/ fear, may defeat the purpose in
view. This scheme has many OBJ
jeGtiOnable features, and presents
many difficulties, and not in all res
poets such as any of us desire, BAT {
1t is the only possible plan to build .
oar roads, and If it does not succeed
aUe BaGy give up all hope Of eUer haU-
jng oar roads built.
The Western n. G. r. R. has to
be sold to the highest bidder and if
the Legislature will not let the
North Carolina Road purchase, some
other company will and may at
some future day build IT through to
Paint Rock, but will never think of {
going to Ducktown, and the only
hope Of that diversion as IN this pro-
ject. Yours truly,
B. S. GATHER.