The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1886-05-20
It's Prospects Brighten.

There was a meeting of the stockho!d.
ors Of the Carolina, Cumberland Gap and
Chicago lsailroad Company held at
Greenwood on last Thursday, the 18th
inst, to hear report fro'u the financial
agent of the company. Col. r. e.
Bowen, of Pickens, acting president, and
Mr.. Henry Bonner, Of Due West, secre-
tary, were present.
The report Of Mr.. SchoGcld, the iinan-
cial agent of the Company, who has been
in New York, London and Scotland for
some time in the interest Of the railroad
company, was very favorable. He
reported to the meeting that three Lon
don bankers had agreed to loan the CON-
pany SS,5OO,O00 if on investigation they
found the statement made to them by
Mr.. SchoGeld to be correct, and the banks
have sent their agent over to investigate
the affairs of the company, and to look
into the resources of the country through
which the line is to pass. Mr.. Benson,
the agent Of the London Banking Com
pany, is now in Knoxville, Tenn, and is
going over the entire line We eau cer-
tainly hope to have the line completed as
far as Edgefeld Courthouse by December
l, commencing at Aiken.
This line shortens the distance By rail
between the great interior cities of Louis
vile, Cincinnati aud Chicago, and the
ports of Charleston, Port Royal and
Savannah by $50 to 157 miles. No other
line competing with this one can be con-
structed, for it occupies the only availa.
BILE gaps in the Cumberland and Blue
Ridge Mountains. The Louisville and
Nashville system, the only one which by
any possibility could be considered at NIL
competitive, is urging and assisting in it's
construction. 1t opens up the largest
area not crossed by a railway in the
United States East of the Mississippi
River. 1t begins on the North in the
famous Blue Grass region of Kentucky,
crosses and opens up TO markets the great
bituminous and camel coal fields of
Eastern Kentucky; passes through the
adjacent and extensive hematite iron ore
beds of Tennessee (now without either
coal or market) and from the foot of the
Blue Ridge in North Carolina 10 the
cities of Aiken and Charleston (its ter.
mini) it passes through the finest cotton
and tobacco territory in the South. The
bituminous and camel coal fields of
Kentucky exceed in area the entire Penn,
sylvanis coal fields or the entire coal area
of Great Britain. Ten thousand square
miles of this coal, including the largest
area of camel coal in America, are
crossed and supplied With an outlet to
market by this road. So valuable is this
coaking coal along its line that Prof.
Proctor, the State geologist of Kentucky,
says that it can be hauled to Birming-
ham, Alabama, and there compete with
local Goals fol use in iron and steel man.
ufacture; but an abundant market awaits
it in Louisville, Cincinnati and neighbor.
ing cities on the North, in the adjacent
iron ore fields to the South, in the United
States naval station and coaling yards at
Port Royal, S. c., and in the demands for
shipping at Charleston, Port Royal and
Savannah. Aside from the coal and iron
ore traffic, the route passes through, in
the States of Kentucky, Tennessee and
along the French Broad River in North
Carolina, the finest bodies of hard woods
(such as black walnut, hickories, ash,
yellow poplar, cherry, birch, &c., left
standing in the United States, SO far as
known. Already large amounts of Scotch
capital are invested in these timber lands