Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1875-04-29


building used as the quarters of the garrison
at this place, went to sleep and fell to the
ground, distance of about 80 feet The in.
uries he received are INTERNAL and as yet the
Surgeon is unprepared to decide upon their
extent.
THE NARROW GAUGE RAILROAD.
The following is the full text of plan sub
mitted to the President and Directors Of the
Chester and Lenoir Narrow Gauge Railroad
Company, by a joint committee Of citizens of
Chester and Yorkville, for procuring iron
aud other material necessary for completing
the road from Yorkville to Dallas. Inas-
much as this plan will be submitted to the
stockholders for adoption at the annual meet
ing to be held at Yorkvile on the 18th of
May, we publish the document in order that
such ofour readers as feel either special or
general interest in the completion of the road,
may have an opportunity of carefully consider,
ing what may be the final result Of the adop'
ton of the plan proposed:
To the President and Directors of the Chester
and Lenoir Narrow Gauge Rail Road Com
pany:
The citizens of the counties of Chester and
York, learning that, by reason Of the unniar'
ketable character of the securities at your
command, you are unable to purchase the iron
and other material and supplies for completing
your road, are disposed to lend you helping
hand.
We have satisfactory assurance that the
iron and other supplies can be bought and
supplied to the road, on fair terms, provided
the citizens will give their support to the
measure, and we, rs committees, are deputized
to confer with you, and ascertain what terms
will be acceptable to you, in order to secure
their support and assistance.
The following scheme has met with the ap-
probation of the two committees, on the part
of citizens of Chester and York counties, and
if agreeable to you, we are willing to report
the same back to them with our recommends
tions for their approval and adoption, to wit !:
That the Chester and Lenoir Narrow Gauge
Railroad Company do execute mortgage
on all Of its property and franchises, from
Chester, in the State of South Carolina, to
Dallas, in the State of North Carolina, near
the Richmond and Air Line Railroad, for
an amount not exceeding two hundred and
twenty-five thousand dollars, in coupon bonds
of five hundred dollars each, due twenty years
from date, bearing interest at the rate of eight
per cent. per annum, payable semi-annually,
on the FIRST of January and July.
That Board of Finance, composed of FIVE
men, living in the counties of Chester and
York, two, at least, from each county, in good
financial credit, and of such judgment and
character as will command the confidence of
the citizens of said counties, be authorized
and appointed, or elected, in whose care and
keeping shall be deposited all Of the bonds
issued under said mortgage, and also all of
the bonds of the counties of Chester and York,
issued to purchase stock in your road, not now
sold, to be held by said board on following
trusts, to wit To provide for the debt Of your
road, now secured by mortgage on so much Of
the road as lies between the towns Of Chester
and Yorkvile, and to retire the came as it
falls due, or prior to maturity, as in the dis
cretion of the Board may seem advisable /;
and as a collateral security to indemnify
and save harmless the party or parties that
shall buy or furnish the iron and the other
supplies necessary to put the road in complete
and profitable running order from Chester to
Dallas, that said Board have authority to
sell and dispose of, by sale, any of said secur-
tiles at such price or prices as they may deem
advisable, and apply the proceeds thereof to
the extinguishmeut of the debt to be con-
tracted for iron and rolling stock and other
supplies, and to such other debts as may ex-
ist against the Company; and if the said
Board fail to sell suaiciency of said bonds
at satisfactory prices, in due time to raise the
necessary funds to meet the debts aforesaid
as they become due and must be paid, that
said Board be authorized to borrow the re-
ouired amount of money on the best terms
they can, at a rate of interest not exceeding
ten per cent. per annum, secured by the note
or notes of the Railroad Company, and de.
posit of said bonds (mortgage or county bonds
at the option of the lender) in nominal
amount double the sum so loaned by each
creditor
That said Board shall be kept up and con-
tinued till the debt to be contracted for iron
and supplies, the present mortgage debt, and
each and all debts contracted to raise money
to meet the said first two named debts, shall
be paid, either by sale of said bonds or COL
lections therefrom, or from other sources.
That at each and all elections of said Fl
nance Board, subsequent to the 6rst the cred
itor or creditors of said road holding the said
mortgage and county bonds, or any portion
of them or either of them, as collateral securi.
ty to debts due them respectively by said
road, shall be allowed to nominate and have
elected or appointed (if they choose) three
members of said Finance Board, and the
Board of Directors the remaining two.
The foregoing proposition made at meet
ing of Joint committees of citizens Of York
and Chester, April 26th, 1875.
MERE.MENTION.
Trion factory, iu Chattanooga county, Geor-