The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1885-05-27
The savannah valley Rai1rona.

The Savannah Valley RaiIroHd.
The Stockholders OF the Savannah Valley
Railroad met ut ~IOwndesviilc OIL Wednesday,,
.ns Gssi' b iss sIa c. e'sy M. 9 g. E. fo s. ri T ,snd or:
and John K. Brcazeale, Esq, Secretary OF the
Convention. A large majority OF the stock Of
the Company was represented, and the meet
Ing proceeded with the consideration Of the
phrcys submitted his report, which gives the
status Of the Company, as follows:
To the Stockholders Of the Savannah Vdtey
Railroad Company:
Convention that Is q matter for c0ngrntuutiun. In
der,l1 the Inst twelve months have been the most
c~ventiul In the history OF our enter rise, and while
there were days vi despnndrncy and gloom, the year
! upnn the whulr. has been attend. d with the IN st
gratifying results, nnh We meet to-day with the we'll
assured hope that the near future will witness the
full fruitlon Of our efforts In the completion Of our
ruad. ...
| Twelve months ago, not more than half our rnal.
bel WINS sralrd. md the work If grading had just
been renewed after q suspension Ot sixteen months.
and was being cnrried on with money borrowed upon
the hypothseation Of tho first batch Of Anderson City
The Townships In Abhevil!e had made q generous
subscription of $4,000 additional, but 1t c~ouldInot bs
collected until Fall, while this anonnt with the An.
dcrspn City bonds, was shnlly inadequate to cun-
pfote thu work Of ginding. The Townships In An
dria"n no whom VIC lnoked to supplement our re.
sourc' 8 aEer tllligGnt eifurts on the part OF members
Of Jnir Board and other friends Of tho enterprise,
declined to nuke any further subscription. And at
this very tims u suit Instituted by certain delinquent
taxpayers denying the validity Of The railroad tax,
was pending before tho State Supreme Court, upon
whose final result It Is scarcely too much 10 Fay, de.
pended the collection of 80 much or tho Abbevilc
tax as might remain unpaid ut the time Of its decision.
But the darkest hour Is just before the dawn, and tn
disT"l this 2lu'm, the taxpayers Of he Abtevtnc
TnwnsbIrs promptly came forward in the Fall and
paid tho first inslaltmcnt Of their taxes. $l0,ON dne
last year. and Mr.. z. II. Mccormick. Of Chicago, pald
In bis handsome subscription Of $4,000.
The ~citizens OF Anderson City. realizing the reccs
stty Of further aid to save the road. generously male
on additional snnscriptinn Of S23p0 dollars In bombs,
making with her FORMER snbsc. Upton IN bonds and
the $1,000 In axes, n sum total Of $62.0OO.
The necessary Legislation was promptly procured ia
the new with the fnrinrr Issue Of bonds. Tho bonds
were speedily issued and placed uP"n tile marke', and
were ,r.inp'ly disposed of ut their par value, a
very hattrrfng sale.
With the proceeds, the debt incurred Inst year Ia
carry on the work Of grading was iiquidatrd, and q
sufficient surplus remains. ~e hope, with the second
in,talIment Of the Abbcvil!e taxes ~ complete and
pay for the entire grading under our contract.
With this increase Of funds the force on the road
was increased by seventy additional ~cnnyicts, making
the present force 1924 hanls: mil to-day there remain:
to be graded about eight miles, In u single gap. Just
south VI L,wndesyillr, and nj. Of which will BE- COLL
, plrted within tho next three months.
To increase our good fortune the Supreme Conf
has, within the past two weeks. rendered q favorable
, decision In our suit, thereby making cst tnin the col.
fectioHOf the DELINQUENT t.xrs In Anderson; and re
moving oil doubt Of the coll: C len Of the srcont
. installmcnt Of the Abbcvllle tax due this Fall; ant
t. crown the whole ynnr Board OF Directors have
within the last two weeks entered Int" q most fay"r
able ~contract with Mr.. W. G.. Raoul, Of Savannah
President Of the Central System Of Georgia. to iIor
md equip our road. This contract will 10 submitrt
for Your Information, hnd | doubt not will comnnnt
your approval. Its salient points arr. that for /
, named amount Of stock and bonds Of the road, Mr.
{ RaOul agrees IN iron the road with new heavy ster
rails, and to equip It as n first CLASH road; anil Wills
+ as u matter Of prudence and pa"cantion against un
{ f~Ores'cn contingencies he reserved three Years IL
which to lay the track. re, he gave the positive as
surnnce that he wuull cUmInrnce track-lnying nv
, later than the LIST Of July. and expects u be ucros
Little River by the LIST OF September, when he vii
be nhle IL put hls organized force nrw upon the G.
, L. 4 5. L. H. upon our road and will the"ce push I
= to completion rs rapidly as circumstances Will per
/ init. We sre no reason why the trains should no
be running through to Anderson In twelve months
: and such Is our bcH't.
/ We feel. therefore, that tho Board c,n with protrie
( ty congratulate you upon the bright prospect Of
I. speedy completion OF Your ruad; nnd We have onl!
r tn express the h"pe that having fully authorized th'
engaged " d, IN their ~contrtct with Mr.. Eanul, tha
1 you now promptly and checrfuIfy approve their &C
t tl"n and confirm the CONTRACT made by them. Their
; Is 10 reasonable alt rnat!ye, In their Judgement, 70
yOit to cHn.idcr or di,cuss.
! The reports Of the Treasurer Of receipts and dis
r bursement.f for the past twelve months. and Of tn
t assets nf the Company fr future operations, aud q
l the Chief Engineer showing the progress aud condi
: ton OF tho wous, arc herewith submitted for yon
e consideration.
e VI. ". HuNpurEYs. President.
This report, together with the contrac
: made with Mr.. RaOul, Was referred to a Com
;. ,nittee consisting OF Messrs. I, p. Murray. J
; $. c. Riley, who reported as'follows:
To the President and Stockholders of the 81
:. rdHnah TIatcy Rriirodd: The Committee or
8 pointed to consider the REPORT Of the President, on
: also the CONTRACT entered into by the $. V. L. Il. on
". G.. RaOul, be. leave respectfully to report thH
:. they recommend tlint the report Of the President i
I adopted, md that the Convection congratulate III
e President and Directors upon their successful cpr
!. duet Of the aflirs Of tho Culnpany, aud the Con
cnmpvnying resolutions confirming the contract Wit
c ". G. Laoul. All Vi which Is respectfully submitted
Z. Is. MURRAY. Chm'n.
The following is the resolution proposed:
"Il.viug hearl read the contract entered into b
and b.twren the President and Directors OF the :.
i the =. '. X. r., and believing said c~ontrnct to BE- 4
y the best Interests VI sud Company, and In conform
iiy with The authority heretofore bestowed In ii
Z Board Of Directors,
= Valley l;nllrnad Company. In Convention ASSEMBLIES
= that the said contract be and Is hereby fully nTproyr'
{ ratified and cnnhrfned: aud that the PrrsldrlIt M
. Board Of Directors ae fully authorized end errInv
Crtu ~ uo ANU VrGtrm Ill tulnES q SShTy III lTOI
6 or to DO lone carrying ont said cuntracts on their par
> including the Issue and delivery Of bunis secured
= mortgage AMI stuck, rs provided FOR In said contract
= After u full verbal statement as to the ctfer
i OF the contract with MIR. Ruoul. the report {
the Committee and the appended resolution
q were unanimously adopted.
The report OF Col. e. 8. Dwight, Chief En-
! glneor, was read and received Us in%fornratinI
Il. The report Of Mr.. W. S. Lyon, Treasurer
y VAS submitted and referred to n COMMITTEE
consisting Of Mrssrs. 7. A.. Slerard, j. A
Moselcy and J: b. Ramey, whose report wa
G adopted as follows:
W. have examined tho within report and vour hel
! aud lind them correct. TIos. A. SnERARD,
c Chairman Of Com.
}: The Convention then proceeded TO the cle'
: ton Of officers for the ensuing year, and til
y following were unanimously elected. the Pre-
. ident OF the Convention casting the unan.
y nous vote for them: w. w. Humphrey
President. Wrectors-B. +. WHITTIER, s. Blecl
c ley. J. NJ. Latimer, 5. J. Hester. j. a. Giber
7 PIX. McCuIly, J. n. Brown, W. G. Watson
T. J. Hester.