The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-02-26

ride to Raleigh, of course it is needless
TO say the benefits that would accrue to
the citizens Of that county in the way of
passage also in freight, it would not tken
be necessary TO raise corn and cotton and
ship it to Virginia, this could and would
be used within the borders of our State
but the great production of vegetables
could be fostered when transportation
facilities are adequate 1t is claimed
this county could raise as much produce
as is raised near New Bern, Norfolk and
Wilmington altogether. What is said of
Hyde county can be said of other coun-
ties and cities along this road. in the
same proportion as to the present trans
porting facilities. As an example, most
all, if not all the cotton grown in the ex-
treme eastern part of our State north of
Neuse River goes to Norfolk. when it is
a fact that Raleigh and other cities
nearby having cotton factories pay in
variably IA per cent per pound more
than Norfolk, ami with the proposed new
short line the rates would be very little
different, giving the producers consider
able more money for their cotton than
they are getting now. Being the shortest
line from Wilson, Greenville and Wash
ington to Durham, Greensboro and Win
ston- Salem, rate on tobacco must be less,
on account of distance, also by using one
total continuous mileage. instead of as
at present two local rates.
Since 1880 the productions of the en-
tire United States has increased 2.20 per
cent. and the Southern States $40 per
Dent, and the railroad mileage is about
90 per cent, hence it would appear that
the transporting facilities have not kept
pace with the producing power, at least
in the Southern States, and particularly
iii North Carolina. there being ample
rpom for mere railroads when located,
as this one opening up a new and fertile
territory and at the same time bringing
our producers, consumers and manufac-
turers in closer touch with each other.
at has not been the policy for many
years for the trunk lines to build new
reads or to extend their present lines.
except to connect up some disjointed
lines of their own, hence We must certain
~ look for further rail development to
our smaller and Independent reads and
unless they receive encourag cement and
substantial aid from its citizens, counties
townships, cities and towns these roads
will never be built. We notice under the
charter of the Raleigh and Eastern North
Carolina Railroad cities, townships and
counties can by a majority vote of their
qualified voters subscribe to the second
mortgage bonds of this railroad bearing
per cent. interest, giving in exchange
their own bonds bearing per cent. in
terest for the counties and cities For
instance, this road from Raleigh to the
interior of Hyde county would be about
ITO miles and branch line through Snow
Hill to Kinston, forty miles. Total two
hundred and ten miles, assessed at
thousand per mile at l per cent. would
be sci Geo taxation, it would take over
S400, 900 of per cent. county and city
bonds to equal this investment, say moth
ing of an equal amount OF 6 per cent
second mortgage bonds being given in
lieu of same, which interest must be paid
in full. before one dollar is paid to the
stockholders, promoters or incorpcra-
tors. 1t would not be unreasonable to
imagine in very few years the second
mortgage bonds of the railroad being
equal or more valuable than the county
or city bonds and will go very long
way to pay the principal Gf required of
county, township or city bonds, say moth
| ing of the enhanced value of country and
| city property which this road traverses
| We want this road and as soon as pos
sibe and we sincerely hope the. railroad
people and those along its line can get
| together without delay and see what is
| necessary in the way of subscriptions,
| rights of way terminal facilities, etc, to
show the proposed purchasers of the
| first mortgage bonds that our own peo-
! pie have faith in this enterprise"