The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-02-17
CAPT. MCBEE'S
PROPOSITION
From GoIdsboro or M ore
head to Norfolk.
TO BUILD FIFTY MILES
Pay 21-2 to 2 per Cent.---NeW Road
From New Bern to Washing ton,
and Plymouth to Eden TOM
FinIayson and Mills Will
Bid Again.


lease of the Atlantic and North Carolina
I,aifroad. The full text of it is printed
below.
A News and Observer reporter saw him
after he came out of the Governors Of
me- yesterday evening and asked him what
the parties he represented proposed to
&C, how much new road they wouto
build
I'VE propose said he "to build in al
fifty miles of new road. First we will
build from New Bern up to Washington,
thirty-fve miles From Washington To
plymouth we will use the road already
there That is operated by the Norfolk
structed by them. The distance by that
read from Washington to Plymouth is
tl,rty-three miles. Then we will build
another fifteen miles from Plymouth to
Edcrton. That will make the fifty miles
Of Eew road
How will you get into Edenton?"
I'VE will build a bridge across thu
Chowan close to the town. At Edenton
we will connect with the Suffolk and
Carolina, as well as the Norfolk and
Southern. So we would get an all rail
route to Norfolk all the way from Colds
bcco or Morehead. Then too. it would
give us connection via Suffolk with the
Norfolk and Western, which touches the
coal fields
How long will this take?"
The first thirty-five miles we will
builc in eight months, If we can lease
thu convict labor. The reason we want
ccnvicts is because that is steady labor
a very important item in this day. We
viii pay the States Prison whatever
any one else will pay for convicts.' You
know, 1 understand how TO handle con-
victs. 1 used them in building the West
elG North Carolina Railroad The rest
OF the work will be pushed as fast as
possible We will make some arrange
cent so as to use bridge over the Neusc
near New Bern Jointly with that new
road the Pamlco Oriental and Western
We could build a bridge jointly with
them, or one could build and lease it :,
the other"
How much would it cost to built!
fro.n New Bern to Washingto1?"
About $4,000 a mile
What connection have YOU with tha
No.fclk and Southern, and how do You
know they would let you use part of
their road?''
4 have no connection with them But
we would give them a lot of business
ard be under no obligations to them
They would get great benefit from the con
nection with our road. We OF cours7
GO through and would develop the finest
lucing section of the State, and the
aiat unit of business we would throw into
.taelr hands would be enormous
How about the Raleigh and Pamlico
Sound?"
we want them TO build to Washlns-
ton, for then we would connect at WASH
irgron and give Raleigh another direct
line to Norfolk and thus the two roaIs
would be mutually helpful. This extern
sion would do great things toward the
development of Eastern North Carolina,
ana would pay the State handsomely >
Tie following is the proposition Capt.
McBee submitted yesterday
Raleigh, N c., Feb. 9th, 1904
To His Excellency, Hon. G. B. Aycock.
Dear Sir: In behalf OF parties repre-
l.
osition for the lease of the Atlantic and
North Carolina to-wjt:
Realizing that the Sta5e owns aid con
trois 1850 shares OF the common stock
of the Atlantic and North Carolina Rail
road, we hereby offer to lease for ninety
nine years the said road, and to pay fol
the same 2E per cent. for the first ten
years, per cent for the second ten years,
ba nd fa,,
cent. for the fourth ten years s per cent.
for the fifth ten years, per cent. for
the remaining forty nine years on tie en-
tire stock of the said road.
We further agree and bind ourselves,
associates and assigns, to build as con
Meeting lines fifty miles of standard
guage railroad, beginning at New Bern
and building to Washington. a distance
of th;ry-five miles, and build from Ply
mouth to Edenton, /. distance Of arol.l
fifteen miles, or the same distance TO a
connection with the Suffolk and Carolina
Railroad, within four years from the date
of the proposed lease, it being under
stood. in making this proposition that thc
rolling stock and appurtenances of the
entire property of the said road are to be
inyentoried and valued, and at the expi-
lessons in equally as good condition as
they may be at the beginning of the lease;
it also being understood that we and our
associates and assigns shall be entitled
to all comparative improvements or ad
ditions of rolling stock, equipment, OF
buildings or appurtenances required dur
ing the time of, and at the expiration O
said lease: this to include any lands ne
cessary to be acquired for such improve
ments: the value of the same, IN the ab
sence of agreement, to be ascertaned BY
arbitration, each party choosing and aroi
TRAITOR, and the arbitrator choosing al
Umpire in case of their disagreement.
is further understood that In the leas'
referred to that the lessons shall provide
for the satisfaction or the retunding o
the outstanding mortgage or other lier
Indebtedness, accrued or accruing, so thai
the iessees may not thereby be mofestes