The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1885-11-11
President Hagood's COnclusions:.s
Having Lost Faith in Its Success,
he Cannot Continue the Effort.

w. H. BRAWLEY.'
President HagoOd's COnclusions:-s
Having Lost Faith I'm Its Success,
he Cannot Continue the Effort.
have thus endeavored succinctly to mar
rate the history of our enterprise since Its or
igin three years ago. and 1t seems to me that
in reviewing it the conclusions force them.
selves upon us: ...;.ti /.
developed the strength implied in the obiiga-
tions # assumed and Of Itself is powerless to
advance the building OF the road.
cd; Notwithstanding the enerEy, ability and
cial ngent, embarrassed by o long continued
depression in the market for railway securi-
ties, and by the failure OF the Construction:
rs was contemplated, a Substantial portion OF
the road from Aiken northward, has bot IN:
definite prospects OF success In his efforts TO
place our bonds upon the existing basis OF our
3D. Sd. The efforts of the present railway direc-
tion to supplement the failure OF the Construc-
ton Company and to strengthen the hands Of
the tsssoasS s Carolina a division Of the railway az
| least as far as AbbeviHe; have not met with an
adequate response from the. parties most IN,
terested, to wit, the people alon: the line and
at the practical terminus or the road III
Charleston.
For the scheme of construction underwhich
we have been working am responsible 10 the
extent that accepted office under IT after "
have continued for three years TO endeayor to.
carry it out Having lost faith !p Its sdiSess Sas
tipue the effort. 1t has had my best exertions,
working within the limits prescribed, and
now, with full appreciation OF the honor con-
ferred In putting the charge of your Interests
| In my hands, surrender the trust ~
Two Currents of Trade In South Car.
! .olina. =
Since the first settlement Of the Atlanta
seaboard there have been two currents or
trade In South Carolina, one setting from the
ior to northward ports. More than hundred
years ago Charleston had her trading outpostS
| in the Appalachian Mountains and in the
Valley of the Mississippi, with trains Of pacSS S
the same time beeves were driven on foot
from the upper country of South Carolina to
the Philadelphia market. The sled. the wag.
and followed these currents. At one time the
drift has been strongest toward Charlest0nt
lately the northward current prevails. SINCE
the loss of the control Of the Greenyille Rail
road and its tributaries, every road travere-
ing upper South Carolina, and. with the ex,,
ceptiOn of ours, every road there being built
is in adverse intere st to our chief CONNER.
eial city: The Carolina, Cumberland ip Gap ana nnl
ancient supremacy in the trade OF the upper
country Of the State and to open up direct
and exclusive connection with the trade cen.
| tiers Of the West. But it is to be noted that
the localities In South Carolina which have
exhibited the most interest In this enterprise
all lie in this upper country. AIKEN.
aid. lies below the border, and the assistance
| proffered by Charleston is to deal CONNER
cialy In our securities when presented In ac-
ceptable shape.
Uupper Carolina Looking for Other
Outlets. -.....
These upper counties have put their money
into the construction already accomplished.
and have voted to put more. Whether, as q
luxury or as necessity, they are determined
to have, and to have soon. railroad connec-
tion of our failure, Pickens is talking Of con-
nection with the Georgia Central system at
Anderson; Abbeville Of an Atlanta connec-
BY short western road to a point across the
Savannah; and Edgefeld is discussing mar:
row guage to Augusta. This history and
these facts are noted not In a spirit Of critt-
prospect OF our affairs. Whether our enter
prise succeeds or fails will be speedily deter
mined. We cannot stand still without being
overwhelmed in the rush and rivalry of the
us; and It is to my mind beyond question
that success can only be secured by decisive
measures taken now. What those measures
adhering to, and perhaps readjusting your
present plans you will continue under hap
. pier auspices to attempt their execution, or
whether you take some new departure thai
= may show itself at once practicable and more
promising of results. it is for you to say and
not under the circumstances for me to sug-
gest. have not lost my faith that the
local interest Of the portions OF South
Carolina traversed are best subserved by the
: ICharicston connection which we seek. Nor
can lose sight of the direct connection with
the fertile valley Of tho French Broad, the
wonderful mineral REGION Of East Tennessee.
ries of the West. In exchange for their pro-
ducts those Of our fields and forests, our
> rising manufactures, and our phosphate
mines will find their best market and In the
grand possibilities of this lucrative trafic is
involved not only the welfare of our historic
City by the Sea, but Of our whole State.
The Treasurer's Report.
The report If your treasurer Is herewith
submitted, showing in detail his transactions
since your last meeting. The total indebted
ness OF the road on all accounts Is SIG, ,733.6 .66:
tits unrealized assets are SO. .663.62. The value
Of the work done In engineering and con-
struction, the value of rights OF way, depot
Sites &C., purchased or donated, and the ran
chises OF the company, are not Included IN
this estimate.
The reports of the solicitors OF the road also
accompany this, There are some minor mat
ters of litigation referred to that demand your
attenti0n.
The report of the chief engineer embodles
very valuable information. and the report ot
the financial agent, already referred to, Will
receive your careful consideration.
Respectfully submitted,
JOHNSON HAGOOD,
President.