The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-08-14
SIGNS OF PROGRESS
Some New Enterprises of the
Old North State.
RAILROAD AND
COTTON MILL
INCORPORATED BY THE SECRE
TARY OF STATE YESTERDAY.
SNOW HILL IN GREEN,
PANTEGO IN BEAUFO
The Termini Of the Projected Railway Capital.
lied a $500, 600. The Cotton Mill 10
be Leclted at Edenton and
Capitalized at $40, 900.

Capitalized at ShU, OUU.
There have been many signs during the
present year of an industrial awakening
in the Old North State despite the many
backs with which the people OF me
State have had to contend. 1t is most
re-assurng to know that, in the man,
the new enterprises have been projected
by citizens. resident within the borders
If the State and built or, to be built.
largely by local capital
These things argue an increased con-
fdence on the past of our own citizchs
in t,e commercial future of North Caro-
lima rs we'll as a definite realization of
the possibilities for the productive en-
noyment of labor and capital that are
already existent They show also that
the State has now reached that stage
Of development when every year sees a
larger and larger percentage of It's
wealth available as a surplus to be
turned to productive enterprises.
This is all the more re-assuring IN
view of the fact that the large additions
of territory that now seem inevitably
resultant from the recent war will az
ford opportunities for apparently. if not
actually. greater returns from Northern
capital that was beginning to find its
way Southwark. but will now be diverted
to these new fields. For some time to
come it may be expected. therefore. that
North Carolina will be left to work out
her own Industrial salvation.
1t is doubtful if any year in our his
tory has had more to show in the way
of commendable enterprise. inaugurated
by our own citizens and built by capital
subscribed within the State.
The record of the Secretary of States
once shows that since the beginning #
1898 an unusually large number of com
mercial undertakings have been incorDo-
rated, some of them requiring much cap
ital and employing a large number Of
skilled and unskilled laborers.
Within the week just past there have
been four such corporations. chartered.
the aggregate capital of which will APP
proxlmate $4OUo0,0OO.
On yesterday application was received
for articles of incorporation for three en-
terprises.
One of these was the "Goldsboro. Snow
Hill and Eastern Railroad Company"
One terminus of the proposed railway
vii. be Snow. Hill, in Greene county. and
the other Panteo. in Beaufort county.
The length of the line will. so near as
can be determined before an actual sur
vey is made, be about sixty miles. and
it will traverse Il part of the counties of
Greene. Pitt and Beaufort, crossing the
W. and w. in Pitt county and connect
ing with the old n. and S. road II.
Pantego.
The road is capitalized at 100000 with
the privilege of increasing the capitaliza-
tion from time to time. as may be neces-
sary Already 100000 of the $500. 900
has been subscribed, the major part CT
it by citizens of Kinston and Snow HILL.
Mr.. j. III. Macleary, of Suffolk, Va,
subscribes $4,000 and Mr.. ]. w. Lynch,
of Kinston. a like amount. The rest
of the stock is subscribed mostly in
amounts of 500 and $500.
Six directors for the ensuing year have
been chosen as follows: ]. w. Lynch,
of Kinston: J. A. Macleary. of Suffolk,
Va: J. ID. Mccormick and Alexander s.
Bacon, of New York City; G. w. Sugg
and Joseph Exum, of Snow Hill. 1t is
understood to be the intention of the
directors to take the preliminary steps
to the construction of the road at once.
The "Edenton Cotton Mills" is the
name of new corporation that is to
construct a fine new mill at Edenton for
the purpose as stated in the articles, IF
spinning. weaving and carrying on Il
general manufacture of cotton goods.
The new mill is capitalized at $4,000
with the privilege of making such in
crease as may seem necessary. The
incorporators and subscribers of stock
are: w. ID. Pruden, c. S. Vann. !. A.
Williams. j. ~ Pruden. +. A. White
X. +. Cheshire. c. T. Falk. VIM. r.
Ieory. ST.. Il. II. Conger. A. f. Bush,
w 0. Elliott. Theo. Ralph. Il. s. Nor
man. Julien Wood, J. w. Brannng ana
l.. #. Ziegler
Another corporation chartered yester.
day was the Consolidated Ice Company
of Skyco. Dare county. 1t is capitalized
mt $500 and the incorporators are. i.
G.. Evans, T.. r. Daniels, w. s. G..
Pugh and w. p. Lemon.