The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1885-05-21
The Savannah Valley Railroad.

Wednesday, the 18th inst, at eleven
o'clock a. nl., and organized by electing
Mr.. g. F. Tolly President, and John e.
Breazeale, ESQ, Secretary of the Conven-
ton. A large majority of the stock of
the Company was represented, and the
meeting proceeded with the consideration
of the business of the Convention. Pres
ident Humphreys submitted his report
which gives the status ofthe Company, as
follows:
To the Stockholders Of the Sarannah Valley
Railroad Company:
GENTLEMEN: Much has been done since
your last Convention that is matter for
congratulation. Indeed, the last twelve
months have been the most eventful In
the history OF our enterprise and while
there were days Of dependency aad
gloom, the year upon the whole has been
attended with the most gratifying results,
and we mect to-day with the ell-nssured
hope that the near future will witness the
lfull fruition of our efforts in the comp!o.
ton of our road.
Twelve months ago, not more tliau half
of vour road-bed was graded, and the
work of grading had just been renewed
after suspension of sixteen months, and
was being carried on with money bor-
rowed upon the hypothecation of the first
batch of Anderson City bonds OF SIS, 900.
The Townshipstin Abbevlle had made
generous subscription of $4,000 addi-
tional. but it could not be collected until
Fall, while this amount with the Ander-
son CITY bonds, was wholly Inadequate TO
complete the work of grading. The
Townships in Anderson to whom we
looked to supplement our resources, after
diligent efforts en the part OF members
of your Board and other friends or the
enterprise, declined to make any further
subscription. Aud at this very time
suit instituted by certain delinquent tax
payers denying the validity or the rail-
road tax, was pending before the State
Supreme Court, upon whose final result
it is scarcely too much to say, depended
the collection OF so much of the Abbe-
yillo tax as might remain unpaid at the
time OF its decision But the darkest
hour IS Just before the dawn, and to dis
pei this gloom, the taxpayers OF the Ab-
be,ille Townships promptly came for
wardinthe Fall and paid the first install
meut:of theiritaxes, $1,000 due last year,
and Mr.. G. 81. Mccormick, OF Chicago,
paid In his handsome subscription OF
S., 900.
The citizens of Anderson City, realizing
the necessity Of further aid to: save the
road, generously made an additional sub.
scription of 5000 in bonds, making
with her former subscription in bonds
and the $4,000 in taxes, q sum total OF
$62, 600.
procured to validate this additional sub
tscriptinn and consolidate the new with
the former Issue of bonds. The bonds
were speedily issued and placed upon the
market, and-weret promptly disposed OF
| With the proceeds, the debt incurred
last wear to carry on the work OF grading
was liuuidated, and 4 sufficient surplus
remains, we hope, with the second install
ment of the Abbeyille taxes TO complete
and pay for the entire grading under our
contract. ,,
the road WAS increased by seventy addi-
tional conyicts,. making the present force
1914 hands; and 10 day there ielnalns 10
be graded but about eight miles, In
single gap, just south OF Lowndesvilie,
and all OF which will be completed within
| the next three months.
To increase our good fortune the STU
preme Court has, within the past two
weeks. rendered favorable decision in
our suir, thereby making certain the col
| lection VI The delinquent taxes in Ander-
son. and removing all douGto Of the collec'
| tion of the second instalment OF the Ab-
bpyill. tax ,;ie tili, Fail; aud to crown
the whole yu,,r Board of Directors have
within the last Two weeks entered into
m.,t favorable Contract with Mr.. w. q.
Raoul. of Savannah, President OF tho
Central system, ~ Georgia, to iron and
euuip our road. This contract Will be
submitted for your information, and l
doubt not will command your approval:
It's salient points are, that for named
amount OF stock aud bonds OF the road,
Mr.. Rnoul aSrces to iron the road WIN
new. heavy steel rails, nnd to equip it AZ
tirst-class road uni whilst as a matter
of prudence and precaulion against un-
foreseen contingencies he reserved three
wears in which to lay the track, &c, lie
gave the positive assurance that he would
commence track-laying not later than the
1st of July, and eapects to be across Lit
tie River by the lat of September, when
he will lie able u put his organized force
now upon the e., l.. g. S. II. II. upon our
road, and will thence push it to compile
ton rs rapidly as circumstances WILL per-
nit. We see no, reason why the trains
should not be running through to Ander-
son in twelve months, and such is our
belief.
We feel, therefore, that the Board can
with propricty congratulate you upon the
bright prospect Of a speedy completion OF
YOUR road and we have only TO expr ess
the hope that, having heretofore fully all.
thorized the Board Of Directors to do all
that they have done and engaged to do in
their contract with Mr.. Raoul, that you
now promptly and cheerfully approve
their action and confirm the contract made
by them. There Is no reasonable alterna-
tive, in their judgment, for youto consid-
or or discuss.
The reports OF the Treasurer Of receipts
and disbursements for the past twelve
months, and Of the assets of the Com
Chief Engineer showing the progress and
condition OF the work, are herewith SUBJ
mitted for your consideration.
w. w. HUMPHREYS, President.
This report, together with the contract
made with Mr.. Raoul, was referred to q
COMMITTEES consisting of Messrs. e. B.
Murray, ]. w. Marshall, B. B. Allen, j.
w. Norris and s. G. Riley, who reported
a. follows:
To The President and Stockholdsf, Of the ST.
ran,,ah Valley Railroad; The Committee
appointed to consider the report OF the
President, and also the contract entered
into by the S. Y. R. r. and w. G.. Raoul,
beg leave respectfully to report that thoy
recommend that the report of the Presi
dent be adopted, and that the Convention
congratulate the President and Directors
upon their successful conduct OF the az
fairs ofthe Company, and the Committee
further recommend. the adoption Of the
accompanying resolutions, confirming the
contract with w. G. Raoul. All of which
is respectfully submitted,
L. B. MURRAY, Chm'n.
The following is the resolution pro-
posed:
"Having heard read the contract enter
ed into by and between the President and
Directors of the S. v. R. r. Co. and Mr.
w. G. Raoul for the completion of the
S v. r. r., and believing said contract to
bs for the best interests Of said Company,
and in conformity with the authority
heretofore bestowed in tho Board Of Di-
rectors,