The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1885-05-21
Tho savannah valley nn,lre.a


Wednesday, The 18th inst. at eIeven
O'Clock q. M, hrd organized by electlnp
Mr. u. +. Toliy President, and John e.
Breazeale, Esq, Secretary of the Conyen.
tion. a large majority Of the stock of
the Company was represented, and tho
meeting proceeded with the consideration
OF the business Of the Convention. Pres.
ident Humphreys submitted his report
which gives the status of tho Company. as
follows:
TO the Stockholders Of the Saraiu,uh Yalkcy
Railrodd Company: -
GENTLEMEN: Much has been done since
your last Convention that Ia matter f,r
congratuiation. Indeed, the last twelve
months have been the most eyentf,ll in
the history or our enterprise and wI.iIe
there were days OF dcspondency
gloom, the year upon the whole has hccu
attended with the mos. gratifying results.
ana we meot o!day with tho we'll .assurod
nope that the near future will witness tho
iull fruition OF our efforts In tho comn,o
ton OF our ROAD. "
Twelve months ago, uot more than half
OF your road-Dcd 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 tho hypothecation OF the first
natch OF Anderson City bonds or S25. 900,
Tho Townships In Abbeville had made
u generous subscription of $4,000 addi-
tional, but II could not be collected until
ran, while this amount with tho Ander.
son CITY bonds, was wholly Inadequate to
complete tho work of grading. The
townships In Anderson TO whom we
looked to supplement our resources, after
diligent efforts OH the part of members
OF your Board and other friends of the
enterprise, declined TO mako any further
subscription. Aud at this very time n
suit instituted by certain delinquent tax
payers denying tho validity OF the rail-
road tax, was pending before the State
Supreme Court, upon whose final result
II Is scarcely toe much to say, depended
the collection OF SO much Of the Abbe.
yilic tax as might remain unpaid at the
time or It's decision. But tho darkest
hour IS just before the dawn, and to dis
pei This gloom. the taxpayers OF the Alb
be,ille Townships promptly camo for.
ward III the Fall and paid the first install.
inent OF their tax es, $4,000 due last wear.
and Mr.. q. II. Mccormick, OF Chicago,
paid In his handsome subscription or
S., 900.
the necessity OF further aid to save the
road, generously made an additional sub.
scription OF $4,000 in bonds, making
with hor former subscription in bonds
and the $4,000 in taxes, Il sum total OF
$62, 900.
The necessary legislation was promptly
procured to validate this additional sub.
scripti"n and consolidate the new with
the former issue of bonds. The bonds
were speedily issued and placed upon the
market, nnd'- were promptly disposed OF
at their par 7value, very tlattering sale.
With the proceeds, the debt incurred
last year to carry on the work Of grading
vyn Ei..fi .t,l fE,.so
remains, we hope, with the second install
ment Of the Abbcville taxes To complete
and pay for the entire grading under our
contract
With this increase Of funds tho forco on
the road WAS increased by seventy addi-
tional convicts, making tho present force
l24 hands; aEd 10 day there Iemains to
DO graded but about eight miles, in u
single CUP, :-st south OF LowndesvilIe
and nll vi which will be completed within
the next tbreo mnntiip.
TO increase our Yoori fortune tho Su-
preme Court has, within the past two
weeks, rendered u favorable decision in
our snt, thereby naking certain the col
lection " the delinquent taxes in Ander-
SOB, aud removing all doubt or tho colIec-
tion of the second instalment or tho Alb
brvillr tax duo this Fall aud to crown
the ~imic yuur board of Directors have
within the last two weeks entered into Il
w
Raonl, uf Savannah, President OF tho
Central system II Georgia, to iron aud
equip our ruad This contract will be
submitted for your information, and
doubt not will command your approval.
Its salient points are, that for u named
amount OF stock and bonds Of the road,
Mr.. Raoul agrees 10 iron the road with
new, heavy steel rails, ond To oluip it AN
II firat-class r',d uu,i whilst us u matter
of prudence and prcctutiJu against un-
fOreseen contingencies he reserved three
years III which to lay tho track, &c, lie
gave the pUsitive assurance that he would
commence track-laying not later than tho
lst OF July, and e1 pects to TO across Lit
tie River by the lat of September, when
he will be able u put his organized force
now upon the g., l.. d s. Il. X. upon our
road, and will thence push it to compile
tion ns rapidly as circumstances will per
nit. We see no reason why the trains
should not be running through To Andtr-
son in twelve months, and such is our
belief
We feel therefore, that the Board can
with prOprirty congratulate you upon the
bright prospect OF speedy completion of
your road ; and we have only TO expr esq
the hope that, having heretofore fully au,
thorized the Board of Directors to 10 all
that they have done aud 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, Tor you to consid-
or or Discuss
The reports OF tho Treasurer OF receipts
and disbursements for the past twelve
months, and OF the assets of tho Com
pnny for future operations, and Of the
Chief Engineer showing tue progress and
condition OF tho work, are herewith sub
mitted for your consideration.
This report, together with the contract
made with Mr.. lRaoul, was referred to a
COMMITTEES consisting OF Messrs. E. u.
Murray, J. W. Marshall, B. b. Allen, j.
w. Norris and 8. c Riley, who reported
as follows ::
Tbkhs President and Stockholders Of, the Sa-
pannab Vailey Railroad The Committee
appointed to consider the report OF the
President, and also the contract entered
into by the S. v. Il. r. and VIC. Raoul,
recommend that the report or the Presi
dent be adopted, and that the Convention
congratulate the President and Directors
upon their successful, conduct Of the eC-
fairs OF the Company, and the Committee
feather recommend. the adoption Of the
contract with w. G. Raoui. All of which
H. respectfully subnitted,
r E. B. MURRAY, Chm'n.
The following is the resolution pro-
posed:
Having heard read tho contract enter
ed into by and between the President aud
Directors OF the s. ". r. r. Co. and Mr..
w. G.. ftaoul for tho co,npIetinnof the
8 v. II. r., and believing eaide 1tract to
be for the best interests Of said Company.
and In conformity with the authority
heretofore bestowed in tho Board Of Dr.
rccf0rp