The Pickens sentinel. [volume] (Pickens, S.C.) 1871-1903, 1877-10-04
Railroad Bond Meeting.

, tee appointed ~ an lnIormas m0etinS
of citizens of Pickens, to ascertain
from the holders of bonds of Pickens
County, the lowest price at which said
bonds could be purchased, the citizens
assembled in the Court House this
day, for the purpose of taking into
consideration a proposition, submitted
to the Committee by the bond hold
ers. The meeting was called to order
by Joab Mauldin, Esq, who moved
that D. F. Bradley, Esq. be called TO
the Chair, which motion was unani-
mously carried. w. G. Field was re-
quosted to act as Secretary of tho
meeting. The Chair explained fully
the objects of the meeting, and laid
before it the following communication:
GREENvILLE, s. g., Sept. 10, 1877.
Jas. e. Hdgood, Esq.
DEAR SIR: Referring TO our conver
sation Of this morning, in regard to
sale of Pickens County Bonds, and
learning from you that q number of
the people of Pickens are desirous to
know on what terms they can be
bought, we have to say, that, holding,
as we do, nearly the entire issue vi
these bonds, we are entirely willing to
sell them at very moderate price,
giving yourself and associates the
preference in opportunity and terms,
to enable the people of the County to
extinguish the debt in full, i'm the
manner you suggest. We propose,
therefore. as the lowest price, which
we offer in consideration of the cir
cumstances you name, to sell to you
and your associates, tho bonds we re-
spectively control, viz: Bonds to the
aggregate sum of $98,000 Or $98,900,
| with the coupons to mature on the lst
January, 1878, and thereafter, for the
sum of fifty six thousand dollars 1856,
OOO,) cash to be paid on or before the
ist day OF January, 1878, on deliver
cry OF said bonds and coupons; this
proposition to he accepted on before
! the I'd day OF October, 1877, and no.
tilted at once to the undersigned; and
if accepted. the undertaking OF your
self and other responsible parties, to
be given that the same will be cons
piiou WIFI OH your p0FC.
Yours very respectfully.
For the II. & D. II. II Co.
A. S. BUFoRD, Pres't
For tho Bank OF Commerce,
JOHN g. WILLIAMS,
G. w. Taylor, Esq, moved that the
proposition be not considered, and
that the meeting adjourn sine die.
Upon this motion, Col. II. e. Bowen
addressed the meeting, urging the ne>
cessity and Importance of considering
and rejecting the proposition at once.
Col. Bowen was followed by Maj. J
M. Stewart, w. B. Allgood, Esq, Maj.
]. III. Amber, DR.. s. w. Clayton,
Capt. 9. l.. Hollingsworth and II. A.
Child, Esq, in brief but pointed
speeches endorsing the view advanced
by Col. Bowen. &. w. Taylor, Esq,
addressed the meeting in support OF
his motion, but said if the proposition
was to be considered, he coincided
with the views of the other gentlemen
who had addressed tho 1neeting, and
should vote for the rejection OF the
proposition. The question was then
put to the meeting by the Chair,
which was lost. BY request, Capt.
Hollingsworth, Clerk of the Board Of
County Commissioners brought the
journal of the County Commissioners
in and read, for the information of the
meeting, all the proceeding of the
Commissioners in reference to tho
subscription to the railroad. Col.
Bowen then introduced the following
preamble and resolution, which, after
debate, was adopted, with but ono dis
scnting voice:
WHEREAS, at an informal meeting
of q few citizons of Pickens County, q
committee was appointed to ascertain
the lowest figures at which the Coun-
ty bonds, purported to have been is-
sued in aid of the construction Of the
Airline Railroad, could be purchased;
and whereas, the Richmond and DAN
vile Railroad Company and the Bank
of Commerce, who own $98,00O or
$98, 900 of said bonds, havo proposed
to said committee to take $50, 900 for
what they own, payable on the lat
day OF January, 1878; and whereas, on
that proposition said committee issued
n coll fnr Tho oiA;1ono oR tbo Esor~..,