The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1886-12-08
Railroad Meeting at Nine.y-SiI.

Mr.. G. W. Susong has tclcgraphed 10 Mr..
Benet, of date December 7th, that he is
showed up in Ashcville. Y. c., and cannot
get over the mountains TO attend the meet
ing of the stockholders of the Atlantic,
Grccnvil!e and Western Railroad at Ninety.
Six to-day. We see by the newspapers that
snow fell TO the depth of twentysiN inches in
Ashcville, and that the roofs Of many houses
have been crushed in, and that the railroad
trains cannot run.
Mr.. Susong authorizes Mr.. Bcnct to repre-
sent Susong 4 Co., at the railroad meeting
and states that lie has arranged to comply with
:he terms OF the contract, as submitted by
him, If the proposition is accepted by tic
Railroad company.
Tie contract Of Susong & Company con-
tainS the following items, being the exact
contract, which was offered to the Railroad
Company about one month ago:
That Susong L. Company assume the pres
ent Indebtedness SS and liabilities OF the road.
That they wi II complete the grading OF the
road as now located from Hamburg, Aiken
County, to and through Oak Lawn township
In Greenvi!le county, by tic first OF january,
ltSS.
Thatthey will, with good material and in n
work manlikc manner, iron and equip the
road from Hamburg To and through Oak Lawn
township by the first day of January, 1889.
That they continue the construction of the
read from GrcCuvil!e to the North Carolina
line provided tic towns or townships along
the line will subscribe an amount Of money
by taxation or otherwise to grade the road.
SSuSong x Co. bind Themselves to finish the
grading from Piedmont to Grccnrllle within
six months, and to the North Carolina line
within two years after the money shall have
been subscribed.
THAT Susong 4 Co. will construct side tracks
~, q, mn ~ pt
President and Directors In connection with
SusCng 4 Co.
Sus0n d 60. hind themselves to grade the
road by way of PcZer anu Piedmont, provided
the manufacturing companies ut these PLACES
shall secure the payment of tie amounts Of
money, S7,Jl0 each, us heretofore promised:
Susong Il Co. guarantee that the road shall
not he sold to nor amalgnmaled with amy
road in South Carolina within five yeais af.cr
the completion of the read.
The Atlantic, Grcenville & Western Rail-
way were asked to agree:
That they will deliver, transfer and set
over to SusUng & Company all the available
assets of the road, provided that the work
done shall hc measured and valued III ac
cor(luncc with existing contracts.
That the railroad will issue Susong d Co.,
stock on the line from Oak Lawn to Hamburg
To the amount of S.5U,A0, but to he placed in
The National Bank of Grecnvil!c in trust un-
I'll the road is graded and -Cquipprd-thc
status OF the original stock khGldclS remaining
OF their stock.
That the A., G. & W. Railway Company and
Susong & Company shall nave the right to
issue bonds of the road TO an amount Sufli-
cent to complete the equipment 0f The road
from Hamburg TO Oak Lawn, and that for
the purpose OF negotiating the bonds, the At
lantic, Grccntil!e and Western Raliway
Comrany will appoint one agent, aud SusonS
.c Company will appoint one agent. said
agents to be subject to the APPROVAL Of both
parties to the contract
Provided, That SGsong Company shall
change the gauge to Il standard gauge:
Provided further, That the railroad COM
pany shall elect the President anu Board OF
Directors, and all unSalaricd uflic, Is, but that
the Saloried officers, with the exception of the
President shall hc chosen by SuSOng Il Com
pany, who shall fix the salary of that officer.
| Provided further, That should Susong IL Co.
! fail or make default In any o:c or all Of the
conditions and covenants herein entered into
! they shall forfeit to the railroad company the
amount Of money which they may have rX-
PENDED in,paying of the Indebtedness OF the
railroad company, which They assumed and
agreed to pay in the beginning or first Part of
| the contract.
! Provided further That should the railroad
company fail in any OF their covenants and
agreements the railroad company shall for
felt TO SuSuDg d Company thce elJG.Gn0 worth of
stock te hr issued and placed In The National
Bank at Grrcnvilr in trust.
| Provided further That SuSOng Il Company
shall give bond to the road in the sum OF
$4,000, secured by two or more good and Suffi-
cicnt SurrticS, to be approved by the railroad
company. said bond to he conditioned on the
due performance Of the covenant to complete
| the grading 0t tho read from Hamburg to
Oak Lawn township by the first Of January,
lsSS.