The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1899-03-22
The Black Diamond Railroad.

road in CincinnatisOn the 14tl inst. re-
turned home last Friday. and report
the meeting Il most successful and en-
thusiastic one. There were over thirty
men in the meeting from five States.
The Cincinnati Enquirer OF the 10th
inst, contained the following account
of the meeting:
s'The 1nuch-tallSed-o and long pro-
iected Black Diamond Railroad ap-
pears to have reached q culminating
point in the important meeting held at
the Grand Hotel yesterday OF the Di-
rectors of the different corporations in
the several States through which the
system is contemplated. The purpose
of the meeting was to raise the balance
OF funds required to pay the prelimina-
ly expenses of financing the road III
London, England, which includes the
lithographing and registering of the
bonds, preferred stock, common stock,
us soon as the legal formalities have
been complied with and the transfer
OF charters to the British syndicate.
Both these objects were obtained by
the meeting yesterday. and the $4,000
required was put up in cash and every
thing agreed to that was asked from
abroad. Hon. Il. G. Dickinson, the III
nancial agent of the company, who has
been in England for two years in its
interest, said to the Enquirer man:
.sThe funds necessary to commence
the construction OF $50 miles of the
road from Clay City, Ky, through the
rich coal. iron and timber regions Ell
route to the magnificent harbor Of Port
Royal, S. c., will be available imncdi-
ately, and we expect to commence the
actual construction OF the road within
three OF four months Or earlier.
'AIr. Thomas Tancred, the eminent
civil engineer, who made /; thorough
inspection of the projected lines last
fall, has made a preliminary report to
his associates in London, and it is very
strongly in favor of building this great
trunk line. He estimates the net earn
ings of the traffic ut II per cent. on its
net Capitalization. | crossed the At
lantic this time to PRESENT. in person the
conditions upon which the money will
be furnished to build this splendid line
of railroad, which will be doublctracll
ed the entire route and equipped in
tirst-class modern style in every way.
81 have already expended S25, 900 OF
nv own money and have agreed to put
$4,000 more in the preliminary work.
which is practical evidence OF my faith
in the enterprise. OF course, expect
to get nv money back and much more
in the way of commission from the sale
of the bonds. The meeting day was
entirely satisfactory, and i shall return
at once to London to close the deal
ss'rhis road will be one of the grand
est ever built on this continent. Its
scaboard terminus, Port Royal, S. e.,
is on a straight line north from the
Nicarauguan Canal, and when both
these commercial highways are conf
pleted thcy will shorten the cOmmuni
cation from China to Chicago and the
Northwest $4,000 miles, as against the
San Francisco route;
Col. Albert L. Boone, OF GAINESVILLE.
Ohio, the original proectoran and promo
ter i Of the the BlacK Diamond system, said:
..The whole scheme now passes into
the hands of tie British syndicate, and
if will own every dollar of the bonds
aud stock, and the charters will be
transferred to it. Every dollar that
has been contributed to the preliminary
work of the road, S25f,0 900, will be paid
back in cash, with interest. before o.
shovel OF dirt has been thrown. Nota
dollar of stock will be owned in the
United States. get my money in the
transfer and pass out.
The Enquirer ofThurs.lay, 10th inst.
says:
Most of the Black Diamond Rail
road officials from five States departed
for their homes yesterday delighted
with the result0f Tuesdays meeting,
which was satisfactory TO them in every
respect. Colonel Albert E. Boone and
Hon. William Kirby remained over to
close ,lp some matters of detail. Mr..
Kirby, who is President of the Ten
nesset Construction Company, will be
made President of all the construction
companies of the different divisions OF
the system for which he is admirably
equipped by reason of his experience
in railroad building in former years
and service as State Railroad Commits
sioner OF Ohio. He has been one of the
main stays Of the Black Diamond en-
terprise throughout, and his knowledge
and reliability have counted big in the
successful result attained. lie has
worked very hard indefatigably, and
remarked Yesterday that he felt that a
great load had been lifted from his
shoulders. Under his competent all
ministration the road will be pushed to
rapid completion, it being the intention
of the company to finish up us much
work this year as possible, and have
$50 miles Of the trunk line finished and
in operation within two years, and it is
expected that the entire system of over
4 SnO ,,,i1oc will ho rnt,n6o1 out in fOl1.