Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1877-12-20
Correspondence of the Yorkviile Enquirer.
LETTER FROM CHESTER.
CHESTER, December II, 1877.

A COPY of the proceedings Of the stockholders
OF the Charlotte, Columbia and Augusta Railroad
Company at their late annual meeting, held at Co
lumbia, was sent me by some unknown 1riena.
The object of this attention was in all probabl1ty,
the giving of a statement by me of the more i'm
portant facts in reference to the company in the
columns of the ENQUIRER, so that the large num-
ber of stockholders in this county may be morn
ed in regard to its condition. The mortgage debt
of the road as stated in the Presidents report IS
as follows: Charlotte, Columbia and Augusta LIST
mortgage bonds, 81. $40, 500: Charlotte Columbia
and Augusta End mortgage bonds, S5OO,UO; ana
Columbia and Aagusf Isl Tbe rst
gage debt IS slO,256 per mile, and the second
mortgage 81, ,564 per mile. Cost of road and prop
erty, S27, 900 per mile. All the bonds bear the
same rate Of interest, viz seven per cent per an
mum. The road has not done a large business
during the past year. The President, II, his re-
port, says: "At your last meeting the hope was
expressed that the period Of commercial depres,
sion that followed the panic of 1873 had reached
its termination, and that a new and improved
business era was at hand. This hope has not
been realized, and we have had to submit TO a
still further decrease in our receipts, which we
have met by still further reductlon IN our eS
penses," In addition to the great commercial
depression, the falling off OF receipts Is due 10
the competition in the carrying trade, which,
as the President says, "had been waged 10 sucn
an extent, that rates OF freight nave become al
most nominal" The injury occasloned Dy com
petition had become so great that Southern roads
were compelled to join together for the pur.
pose of maintaining rates. The associatlon had
not accom- phshed what was expected OF lE .Fres-
ident Palmer defends the Northern gentlemen,
who own controlling interest in the stock or the
road, from the charge commonly made against
them, that they run the road entlre!y lor the al,
vancement of their own interest, wltnout regard
t., and detrimental to the interest OF other stock
holders He states in his report, that the rumors
that from time to time, gain currency to the enect
that the larger shareholders in this road are un-
willing to accord to 1t that 70 wnich
its geographical position entities It, 90 the gente-
men referred to great injustice I'm managing
the road, he has had "their most earnest and ac-
tive cooperation" To the building ofnew roads,
especially the Atlanta and Richmond AR Line
and Chester and Lenoir Railroads, is attributed
thedeclnei in business, both passenger ana freight,
and not to the influence and action OF those hold.
ing majority of the stock. The earnings OF the
road, for the fiscal year just ended, were si9I loo
a. for the same period last year the earnings were
1924 ,562 66, making decrease of 81 4o5.74. The
operating expenses, during the fiscal year just
ended, were $294 66S. IA. making an excess OF re-
ceipts over operating expenses OF ars SSUS 1901
$500, making an excess Of receipts over oper-
ating expenses Of $2O3,327.6 .66. While the receipts
were considerably greater last year as compared
with this year, the expenditures have been con-
sderably less this year, showing difference be-
tween the two years Of only $s3s.sS. The num-
Der of bales Of cotton shipped from Chester on
the Charlotte, Columbia and Augusta Railroad
during the fiscal year ending S septemoer noe ora oora'
were shipped from this point during the same am
time on the Chester and Lenoir Railroad. The
number of bales shipped from Rock Hill on the
Charlotte, Columbia and Augusta Railroad du-
ring the same fiscal year, was ,S23; the number
of bales shipped from Blackstocks during the
same time and on the same road, was 2,ll3 the
number of bales from Fort Mill was !,Soz; the
number of bales from Wood wards was l,sl7 ana am
the number of bales from Winnsboro was 1851.
A destructive disease is prevailing among the
cattle and hogs in the vicinity Of Pleasant Grove
Church in this county. Mr. r. L. Miller, Mr..
and others in the neighborhood have suffered con-
siderably from the loss of both cows and hogs.
The disease spreading, and, unless stopped Will
occasion heavy loss among the farmers.
A large quantity of land in this county will be
sold by the Sheriff on next sale day. The fine
plantation of Mr.. Joshua Walker, containing 5o9
acres, with residence and necessary outbnildlngs,
and within short distance of town, will be sold
to foreclose mortgage held by the Commissioner
River land, belonging to Ell. Worthy; az acres
on Fishing Creek, belonging to John McFadden;
542 acres on Brushy Fork Greek, belonging to Jo-
seph. Carter, Sr. 24s acres on Fishing creek, De 1e
R. Davis in 4, 900 acres on Catawb River; the in
terest of John A. Lipsey in 400 acres on Cany
Fork Branch 300 acres on Rocky Creek, belong,
ing to the estate of Hugh McLure' deceased lIz
acres near Blackstocks, belonging to J. G. Macko.
rel All these tracts of land will be sold on next
sale day. The blacksmith shop of Purvis Alex.
ander, one of our colored representatives in the
Legislature, will also be sold.
4 new postoffice, called Lagrange, has been es-
tablished in the eastern portion of this county,
seven miles from Chester. Mr.. John A. Marion
is postmaster. :,
The Methodist Church was closed on yesterday
Rev. Mr.. Carlisle being absent at the annual Con-
ference. Mr.. w. T. D. Cousar is the lay delegate
from this Church. Rev. 4. w. Sanders, or the
Baptist Church, preached an excellent sermon
Yesterday from the text, "Why stand ye all the
day idle?" He gave the reasons for the indiffer-
ence, and inaction of members Of the Church in
the cause of Christ and earnestly urged all to be
mp and doing.
Mr.. J. B. McFadden represented the Masonic
Lodge of this place at the late meeting OF the
Grand Lodge in Charleston. QUl.