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k S v-j.--,::;': - NEW SERlESirVOL. IH-KO. 15. WADESBOROUGn, N. THURSDAY, DECEMBER 20, 1860. WHOLE NO. 119. ft NORTH CAROLINA ARGUS. ' ' i ' V 77" PUBLISHED WEEaXT FES TO .1 PARLEY. TERMS OF HUB3CBIPTIOW. ' ' Single eopies, Two Dou.au pet ysar, Invariably In advaaoa. Ko subscription received for leu tbss iU booths. RATES OP ADVERTISING. " :, em sqciai, tin uiu on lass savin. On Inaartioa . 70. Three ioiertioas .....................ll'M Two months, or Bine luaertloM. ........... $ 0 Three months, or thlrteea inafcrtions..,.,. 4 00 , Omtur 9 00 . Advertisers mast MiU the Bomber of timM tkey wish tbtlr advertisetaente laaerted otherwise they rill bo eonlioood till forbidden, nd charred aooord- luc to tbe above. ... Arreemeata will bo made with yearly advertisers ob liberal aad advantageaae Sanaa. . ' , Obitaarjr aotlot froo whoa aot eaaeeding twenty lioao) all above twenty noes at adrcrtlaeaeoi isiee. ; COBEESPOJDESCL Wasihsoton, Not. 26, 1860. Dear Sir: I have received jour letter of tlie x 19th inet. Id this yon Bay. " If it be tine (and God grant that it may) that the new President elect ii (aa he ucd to be) a Henry Clay big, and will administer the Gorerniiient for the bene fit of the whole country, giving all parti the pro tection to which they are entitled by the Consti tution, and if it be true that be will enforce the Fugitive Slave Law, and all lawa passed by Con gress, and Ae canintity the mind of the Sonth erm people that he will do to, the there ia hope tbat tbe Union will be saved." .. You also say, " God grant that it may be so, and that he can satisfy the Southern mind quickly on this point." In reply to all this, I must say that t think the Southern people are acting very irrationally and unjustifiably; - A few designing demagogues Jtqd hot-heads among them, whose avowed object is, and has been for twenty years past, to bring about a dissclution of the Union, aod alio pur-, potely broke up the Charleston Convention to ac complish their long-cherished design who did all they could to prevent any one but Lincoln being elected, now raise a hue-and-cry against fciiu, and call upon him, before he has, received a single vote for President, to deny the charges ' - they raise against him, threatening, if he does not "satisfy the Southern mind that he will do ' thus and so, they will dissolve the Union 1 Some of them even declare that his election is a sufS eieot cause for a dissolution of the Union With the latter class it is useless to reason or rcmoir- j st rate : tho'electioo of Lincoln is not the cause j but the occatio of their action. Some of iberu have fraukW admitted this, and added, that they did not care whether the Fugitive Slave Law wero enforced at the North or not ; they had long , . , , , ,i it : .j . - Js - desired to co out of the Union and now they in- c - tended to go any how. This declaration has been made, by a South Carolinian here, a near relative of ouc of the most prominent disunion ists of that State, and who has figured as such for more than twenty yesrs.' I ha7e no doubt he ci pressed his uncle's se'ntimcnts and the senti ments of all the leading secessionists of tho South. Aod yet these are the men whoarc now controlling public opinion there, and whom even the honest people of the good old North State, it seems, are willing to follow! In former times the. rale was to judgo every administration by its mcannrct, and I know' ho 'other just or safe rule; the fire eaters of the South, however, are determined to hang first, aod try afterwards. What would they have said bad Mr. 15 reck in riAao hcen elected and tbe North had threatened secession unless he would declare before inaugu-' . rated that he would administer the Government in accordance with their wishes? AV hat right has any one to say that Mr. Lincoln will perjure liiinself by refusing to execute the Fugitive Slave Law, and all other laws passed by Congress!! Did Mr. Fillmore fail to do this? Mr. L. bss again and again publicly doclared that the Fugi tive Slave Law ought to bo faithfully executed. AVhat more could he say now? Mr. Senator Trumbull a few days ago addressed the'pcople at Springfield, 111 , and said, , in Mr. Lincoln's presence, and therefore by his sanction : " Mr. Lincoln, although the6 candidate of the Republican ' party, as Chief Magistrate, will neither belong to that or any other party. When inaugurated he will be President of the country and tbe whole country, and I doubt not will te as ready to defend and protect tbe. State in which lie has not received a solitary vote against any encroachment upon its constitutional rights as the ono in which he has received the largest ma jority; while they, by whose votes he has been designated as Chief Magistrate of tbe Republic will expect him to maintain and carry forward the principles on which be waa elected, they .know that in; doing so i no encroachment will be made on the reserved rights of any of the States, j They know that the federal Government is one I ofdelegated powers; that it can do nothing ex ccpt tbe authority for the act can be found in tbe instrument .which created it, and ihat all . powers not' conferred are reserved to the States, or 'the people of the States. Hence when their political opponents hive charged them with Abo lititionism, or attributed to them a desire to in terfere with slavery in the States, or some fanatic .. has insisted they ought to do ro, tbe reply has hi variably been that the people who made tho - Federal Government did not think proper to con fer oo it such, authority, and it has, therefore, no more right to mcdkllewilh slavery in a State tbsn it has to interfere wiirTscrfdoro in Ituuia." What more couhl be said ? It is well known that Mr. Lincoln voted against abolishing slsvery in this District, and that he baa always been what is called " a enntertntit Whiz." It iaf also telieveirtere, by thosTwhT"bave Ihe best neons of judging, that his Cabinet will be com posed of men who havo the confidence both of the North and the South. Ho knows ths impor tance of having anoh a Cabiati composed of men from the South at veil as the North and West, as well at yon and I do, and finil iLA thou sand times more.' Such Cabinet caa'oaly be foraaod by bis selecting men whoa moderation, wisdom, and national feelings are knew to tbe tchoit country. I venture to predict that (here will be no third rate man and mere politicians In that Csbinet, and that when it is announeod it will give ooafideace and repose to the South ss well as the North. - - But you aoast remember that he is not elected President yet, and that tho fact, if he ahall be, will not be made officially known until the 2d Wednesday of February, until whloh time would be improper, and oven ridiculous for him to Sneak as if he were already elected.. . As to fighting, the North has do idea of lighting any one, and the universal expression here and at the North is, if Sou'h Carolina wishes to go out of the Union, let hot go; she has done nothing but wake disturbance for thirty years past Isnrswery treiy, , . Ge&mantowx, Pa , Not. 80, 18C0. Dtar Sir: I have the pleasure of your letter of the 19th. It was my intention to reply to it by the returning mail, but have been utterly un able to command the' time nntil now. I have had, in truth, but little leisure for private con cernments since the meeting of the Baltimore Union Convention, of which I wss s mexber, and in whio! , I was the first to mention the namo of John Dell. The cause has engaged my heart, even more than it has done my time and pen ; and now that the election is over, I feel sick at heart, and very dcponding.' . The infamous conduct of Northern fanatics has put in jeopardy ulltbat,asan Amer ican, 1 have always held dear and sacred. They, only, are to blame in this terrible busi- ncssf and it may, without violation, I hope, of Christian charity, be a legitimate subject of re grct that as they have sown the wind, they and they only, may reap tho whirlwind. I feel gratified that in an exigency like this, you should suppose tint I might, in any degree, be useful. Perhaps I might, if 1 knew the character of your people better. All that may now be done is to urge adoption of prudent counsels aod great moderation, in the assertion of rights that have, clearly, been invaded, and utterly disregarded. The election of Mr. Lincoln, view it from what A point you may, i as efifgroccful to the intelligence and character of the ration, as it is especially insulting to tbe South. The election of a tional candidate, and he an Abolitionist, was the worst and the darkest set which hss ever occurred in our brief annals; and many who lent their aid in its consummation are beginning to realise the truth of this asucftion. I love the Union with all my heart, aod soul, t - anu streniuu. a wouia Eive me laai urupoi raj o . ! I. ... I 1 ... J - I. r . f ' J. 1 .1. 11 .1.. I . 1 t iican a uioou ui preserve it iroiu jvmyn uaii- gcr. But,'if the Southern portion ici'W secede, where rests the power that shall deny its right under very extraordinary circumstances? There must be equality of the. States of the Union, or there can be no real freedom. The refusal to enforce the Fugitive Slave Law the passage of laws imposing psins sod penalties agaiost it; the denial of the absolute, conititutional right of the Slave States to the Territuriet,-in common with all the other States, for they are romrnoa proper tyand the eternal meddling, and tampering, with the cnnttitutionatly recognized .institution of slavery, by profligato politicians and fanatics, has, and jimtty, roused the South to most indig nant expression, and placed her, at last, in an attitude of menace and resistance.. Their clear riSht thi reRrd no "njD of common K0M and of decent intelligence will dispute. ' It waa the assertion of similar rights that gave ur liber ty, , independence and U nion. But, all - these wrongs do not yet,' justify Diiunion. The rights of the South- arc. our rights ; and equally with you, are we concerned in maintaining them. Let us, then) work together in tho Union, for the common cause. As I have said before, your security under the Government of 'the. United States is the pledge of our safety, and we demand your fidelity to guard our common interetti. Why should the South every inch of the soil of which is as much my country, as' is the spot on which I was born turn its back, yet, up on the thousands, of every State of tho Confed eration who are with it heart andsoul, in this hour of our country's adversity and bitter triui i She has had much to bear, and has enduted no bly. The time for separation is not yet. Let us apply tho remedy within the Union, and not run into danger for the sake of repelling it. The North mutt repeal its infamous laws nullifying the Constitution; and depend upon it, it Kill now, if there be no disruption of the Union. The bcart, and the sense, of the people are aroused to ils justice, ud less tbsn its necessity. There is a right founded upon justice, courtesy, and patriotism, which you do not claim, but which, nevertheless, J would gladly concede the privilege, or right, namely, to bring your slaves, as body servants, with you, on visits North, with certainty of protection during their iempu- rdry evjourri. " 1 ;lJ,l JPST Toombs Cobb, and Company say that our government haa proved a failuro. ' As tbry aod their political friends have had almost uninter rupted control of affairs for many years, this opin ion of theirs is no- great compliment to their own capaoiry as statesmen.- Perhaps, however, tbey consider the government a failure, because they aro not to control it any louger. -Upton I'ilot. ' n ufi L .. .a 1 Li. j a . ; w uvt. n iw in vuoicv ma ci v luva w - ---- - r - wr then. AA ell Virginia don t want them and be nouin uarniiLa. nroriaea v irmnu aoea not arana : ' F "W vwiii w v as-aMsa vwaawv aw a as a -a arsov Palmetto flag at enoe. By the way , the report that Wise hsd beccn insane MMatndirte wisaW Ba1 feaVawll mfMltit tflat ISln-b AAAaan fill Mlati thaw is no nwreerssy than be was before 6tf. IEP0ET Of THE PRESIDENT AM DIRECTOW, TotustocJcKouoth. miming, chariot and Jiuthtrford Railroad Comanv. at it ReqMhr Anntal Meeting, held in th sown nUmtnatOU. On t'ridav. tht ZOA day of Uc toUr, A. D. 1800, , Gentlemen: In rendering anaceonntof our , ,. , , stewardship for (he year past, it will be Impowi- A- .,llt.l.. Die tor us to enumerate luuy an ins operations oi the Company, or present to you a detail of all the obstacles we have met to that rapid progress which . ., . . v n . . w. ... ..run.., ucreu. vur .p.co .uu u.u. would not permit it, arid we trust that a brief and comprehensive statement of the year's pro ceedings, and our future prospects, will satisfy jour demands. With the view of executing your plans, as in dicated at the last Annual Meeting, upon the re commendation of the Board, in tbe month of De cember agents were despatched to the most favor able polots in Eastern North Carolina and Vir ginia to hire for the Company as many' as fonr hundred slaves to labor upon the Road in various wats. So great, however, was tbe demand for labor, that in the month of January, with the best prices offered, we only obtained, on both divisions, ICO hands. Since then the number has been moderately increased by accessions to our force at different times. l Disappointed in this way, and yet determined, if possible, to progress, with. reluctance we yield ed to the necessity of procuring emigrant labor ers, and we accordingly organised two white forces on the Eastern Division, and one on .the West ern. In all, however, tbe force hss been much -smaller than was proposed originally, and its efficiency has been impaired by sickness, the heats of summer and untoward weather. One portiod of the force was put on the cravel train at Riveraider another portion on the track, an other at trestle-work, s'.d the. largest portion on the grading. In addition to the scsrcHy of labor, we hsve met a great difficulty, and one .that was not anticipated, irr procuring cross tics ahead of. the track, and that tooio a country through which the finest timber aboulrdo.- Ave have had to haul our ties from twenty to fifty miles, and then labor under the disadvantage of having them behind tbe track layers. We are now reaching that part of the line, however, along which the ties are delivered; and, for the future, we ahall be relieved from this source of snnovsnee, delay and expense. On the SOth of November last, our first section of twenty nve miles, from ldver- side, was completed, and on the last day of De cember we received from the Treasurer of ffit State our State aid, $200,000, for that section. The charter prohibiting the'salo of the Bonds by the Ireaiurer beWw par, compelled ua to bid par i lor tneiu. on a tne wnoie imu was award! ion. Our aid therefore came to us in Ihe form of State Bonds. The second section was finished on the 18(h day of July last, and on the 20th of that month we received our State aid from the Trcas ntfr. aa nnon the first section. The trai-k ia una UA kr miU Mtmt nf T.nmhortnn anil th.r arc but nine and a half miles on that section to put down, and the material convenient, wo may nope for the completion of tbe third section by the first day of December next- and by the end of the year, we should finish six miles on the fourth section. As there is but little graduation and no bridges, on the fourth section, and the ties are delivered, we may. hope, fur better progress on thst than the preceding section. The comple tion of this will tske us np into Richmond coun ty, 12) miles east of Rockingham. Between this point aud Rockigham, tbere are three whole sections which have never been let to contract, now being graded by the Company's white forc, and also three other parts of sections to be finish ed by tbs slaves hired by tbe Company. As we have never been able to find contractors for.lhe five miles between Rockingham and the Pee Dee, nor to procure a sufficient force to put upon it, that part of the line is yet untouched, and it it much to be regretted, aa the Pee Dee bridge masonry is fairly underway, and likely to be fin ished, in tbe next spring. In Anson, the work is continuously let from the Pee Dee to Brown Creek, seven miles west. of AVsdesboro', snd one section west of Brown Creek, Io Union county, the work is let, with the exception of a few sec tions in tbe eastern end of the county, snd the probability is that contractors will be found for f most of- them. In Mcoklenburg, we hsve an Irish force varying from 35 to 75 hands, opera ting upon three heavy aeciiona since the first nf J uly. Five other sections bave been let to con tractors, leaving some ten sections to be provi ded for. Only three bridges are necessary be tween Riverside and Rochingham, and they have been erected, vis: one at Livingston Creek, and two across Lumber River; and the heavy trestle work at the Brown Marsh and Great Swamp is all finished. Iron enough has been deliverd to take us to the middle of the .fourth section, and enovgb contracted for to tajce us to Rockingham. Chairs and apikes are already delivered for tbe same dista. ice. - Tbe point selected for crossing the Pee Deo River is about H miles below AVall'a FerryT'ind where De berry's Island, 700 feet across, divides the River into two srtus, tho eastern 800 feet, and the western 800 feet in width:- Tbe mason ry for the bridge has been in tbe chsrge.of Mr. Asa Chilson for the year past, and as far as gone, is done well, substantially aod satisfactorily. For economy and expedition, we have laid down a stringer track railroad from the east abutment up- the River for half a mile to some of the quarries; j but the chief quarry is in the bed of the River iuelfi.near the Bridge site. During the summer the force has been employed in getting in the foundations of the piers, and prior to September 1st, bad succeeded in raising all the piers and the abutment upon the eastern arm above water. This is a greut point gained, and'secures contin uous employment to the hands during the winter, and at all stages of the water. For the prosecu tion of this important and justly work, the Com pany is indebted to the kind and indulgent aid of tbo Bank of AVadesborough. AVe. may hopo ' for the completion of the masonry during tho , spring of next year.- 1 I ur:.L ik . t l.i " .i i.ii .uo viuw ui puuiiiiiiuuuai.iiK uur otiizL-oe, : who hsd gbns info the Turpentine business on ' the faitb of our taking it to market for them, in ' May we chartered a Steamboat br the montb to : pit uwwctu avitcteiuv Hiiu t tin. intfion. aa oo- . tj : j j nr:i . ; : l- r .k : . L . . : enwn isini in uuv. i v inc., wmioui btbiciu, mmmeneea laainw ircionu irrerra ariv. ana as - r a J 1 beet we could ; roeiving them oo the downward ujoatiwxtsoas -- w - vaiu avi .. . wm ths 6th of Juhr; our equipment being Increased, aa ataMSst sal win faV hn UtiMtsl taarnnlf saaamiB I In 'for frelrtts and wsoenfors, wi aa oecaaicBaJ . train for freights alone. Owing to ths lightness J!T! ,n.d lh ""f1,?"? " or tuo transport or our material lor cuiniruo of ll0. ur our freighting business has been "u" rJ iiutwriecnv, ana uioro wua to tbe wants of our friends than our own Inter- '"V T r JT . , doubled but for the exigencies of construction t ,nd w , oar ,biHt hu not been fui. Pl. .. - . adequate to tbe wishes oi our patrons. I On. this Esftsrn Division we have five loco- ! ". bearing the nsmes of our counties, I ccpt the first, which bears tbe honored eppelhv . . n , .. . R. - . . eighteen tons, and was boilt by M. W. Baldwin & Co ', of Philadelphia. The 2d, the Uutberford, and Sd, the Cleveland, of the aame site, and built by the same parties. Tho 4th, tbe"Brunswick," of twenty tons, built for the Western Division, by Messrs. R. No:ri k Son, of Philadelphia ; and tbe 'jaaton, of thirteen tons, a construction engine, of peculiar structure, plsnned by Wm Gaston Hamilton. Esq.; and built by the Jersey Uity Lsoomouve Works. Wo have purchased aod IWbived te passenger coaches, 10 bos ears, 23 platform, IS gravel, 12 section and eronlr. ears, and bare alaocontracted for other cars aa follows One 2d class pssser.gcr, bsirgage and mail ; one combination car: 10 box, 10 platform and i cat tle cars. . Seeing no probability that the company, with any means it can command, will be able to build the rood across the two branches of the Cape Fear itiver iroro xtiveraiae to numingroo in any definite period, the Ikrsrd determined to estab lish a steam ferry of the most approved kind, for doing the business of the Company economically, expeditioualy and with certainty. In January bids were" received, ranging from 930,000 to 50,000, for a boat that would transport on its deck eight Insdcd freight eM st a lime, bnt these were deemed loo high (or tbe state of tbe treasury. In tho course of the summer, however, the oppor tunity presented itself, aod wo purchased a boat thtit hsd been built and used lor this purpose, on the most favorable terms. She it now being re paired and refitted, as well for tho-traiiMwrt d loaded cars as for passengers ; and when received j win oo as (Tihxi as wnen new. tier cost origin ally was I20.Q00. AVith a new and strong boil er, a very superior low-pressure steam .engine, room for three loaded cars, and side saloons for passenf-ers, fitted and furniabed in fine style, with sll the modern improvements, her coat will not exceed 17,000- This boat will make the trip from AA'ilmington to Iiiversido in half an hour, about as quick as the cam could make it, crooning bridges and treaties, if ths Rosd were finished. It is slso proposed to have a large .transport constructed, for tho purpose of receiv ing on deck six loaded cars, two abreast, and let her bo towed up and down by tlicJUarendonij'cry little to impede us between Shelby and J he Boating docks bane properly constructed, by the aid of a small engine now in the steamboat, the aid oi a small engine now in the steamboat, . . . . r .onc niinuttjs ueeinea a suincioni tinio iur-ineTi ms p. h wm ut ciuirau irowm, wrairte, .. . - , . ,- - transfer of each of the ears to and from the decks method, we hope thst tbe basinets of- the Com-! is made for reachin Ilockii.gham.we ah.ll con- J"1 ,nd connt,M , pan) can bo done with satisfaction to itself and ! rider the firat IKvWon of the road a. completed, loit- I ' PPlwtion we should ask for aid at. -its patrons, and at much leas outlay than waa at snd confine our suggestions chiefly to the Upper f.n Mr,7 3J !ot "P 'D0"nt ,0 enw to press r ..... i w . . . ' .r r ' IhA wnrlr KTnmiifil b fnrwnrtl find ft I an fnt ! A tilUaoJ Looking forward to the Jay when our busi ness must be done with the strictest system, and our interests guarded in tho best practicable mode, tho Board hare prepared a system of rules and regulations for the working economy of the road. By these,, only four separate departments sre necessary, each having a head manager to super vise and direct its operations. 1. The Treasury Department, with the Treas urer at its head. ' 2. ' The Transportation Department, with the " Master of Transportation" at its bead. ; ' 8. The "Mechanical Department, with the " Master of Machinery" at its head. ' . 4. The Road Department, under the direction ot the lload .UasUr. . . through these counties, as far as we felt safe in Only tbe first two of these placy have been : d0jng . the contractors agreeing to tale our Com filled. Mr. Duncan A. Mcliae, a native of Mont- j pan, fr . portion of their work, and gomery county, has been elected to fill the office ; am,,it ,heir payment until our Stato aid for those of Treasurer, made vacant by the resignation of j counties sl.-ll be received There remains yet to t -n at, - 1 . -sT a"l . ...I it.. l..i . . . . ..... ... Pir. v,uwai., uu m m vwir, aim u fx partmenta for the year preceding. The report of our master u transportation, for the last four months, is herewith presented. Tho reports of our Treasurer are herewith pre sented, and arc so prepared as to exhibit the state of each account on both sides, for tho year, with a fuller cxinuit or tne receipts ana uieDursetucr.ts , ot tticir ca.m. -. ,j Tbo report of tho master, of transportation is also appended, showing the amount of business done for our customers to tho 1st of October, but not includingthu-transportation done for the Company. It is proposed that in future the re ports of this Department shall be more full, and exhibit as much in detail as possible the kind and quantities of all articles transported. The graduation and masonary on this division having progressed to such an extent that it was deemed practicable to lay down the iron for fifty miles from Cliurlntte to Shelby, without -much interruption, we despatched an agent to London, to purchase the necessary iron from the manufac turers, directly, believing that much might be saved to the Company by so doing. lie pur chased 4,5U(J tons from Jleasiv. Jjevick St, to., manufacturers of established reputation," on air terms,, the inn to conform to the pattern used upon the Kastern Division. Nearly all the iron has been delivered,' and transported to Charlotte over the Wilmington and AVeldon, and North Carolina Roads, and the Wilmington and Man- cncsier, and ine vnariuiie ana nouio Carolina Roads. Tho track has been laid from Charlotte, across the Catawba River, for a distance of about thirteen mites. Much more would have been done but for the delays of building tho Bridgo across the Catawba River, and also by the failure of cue of our contractors to fulfil his contract in grading the section-just beyond it. The Bridge over Long Creek, a lattice tf two spans and the one over the Catawba, Howe's truaa of four spans, n..j . .: n itl. am wen ana auuaiani.aiij uuiib. . iiitinvKiaTsii have now resumed their labours, fend-if' not pn- rented by inclement weather, will reach Lincoln- ton before tbo end of tbe veer, and com Die te tbe r o . . . .- ii v. l l. j ura two aeciiofas, io Bit prvoau.iiir. vj ino auiu- j i . l . j. .i.:- i . - 1 me oi iixarcn. io qu m, iiuwerer, an exirsor- . - - over Buffalo Creek, which ia Just within the end dinar oicrnnei muatn mini to nman ina nndiro i vi tuv 411 V- is aivaia JJ m auii uifMiHVWs , -mm bridge will be eighty feet high, of three spans; and of the Bnrr pattern. The masonry F sK ft ft mm awttl Ka at shnsl s4iia 1 hl ! on it is prcvmssinc finely. I is progressing finely, sad promises t be of matter of transportation has been conferred U10nj 8 sections in A.uon 10 sections in Union .r PJ , tl,artcr'i wl,c" fc reach that place, upon Mr. T. L. LoJ, of Wilmington. We should a iatiT' StC'U"1'"n L ",on' : Wd shall then owe for the iron and equipment rnnnir frnni thfl hcnil nf Mi-h tlnniirfniont nntT tr . ! that Wll be laid down and in USO to the middle require irom tne ncaa ot eacn department, not To ascerUin as precisely as possible tho deficit Lf flr,i, A k only frequent reports to the Boaid, but also an on ,h;. I'tner Eastern Division wo ehiLit e.i ? lIie 'i' r ?cct ? ,! a,ld " " but ,B,r l. . .ur annual reoort for the Stockholder meetinir set-1 . t . r " ,t"vwl0.0' . 9 , State aid should be commensurate with the annual repon tor me oiockuoiacra meeting, set- mate of the cost of the work in each county. : c-. . - .- .u v- .. i. iln. forth tho nneralinna nf fbnir rMrwcliw J. , ' f .. cou'J, .u,0 ( Ien upon the nillO 0 Other alteration finished To smple time, yet untoward circum- i L"".!!7?!. ?fk!" nVi.!!l?!il': - iu,.. vu. Our Iron It dependent upon the completion or tne " " -..... .-.-.. ty, it is all important to complete these sections, so that we may receive our loan from the State, and punctually perform our engagements in Lon don. Tbe cross-ties a re "ready, the chairs and spikes delivered,, and an energetic force will probably . accomplish tbe ' work, if the aesson shall not prove prohibitory to its operations. - On this Division we have two locomotives, "The Wilmington," of 20 tons, built by Messrs. R. Norris k Son, of Philadelphia, and the ''Bla den," of 20 tons, built by the Jersey City Lo comotive AVorks for the Eastern Division, but transferred in tho place of the Brunswick. AVe also bare 4 box ears, 10 platform, 4 track and crank, and 2 bouse cars for the track-layers. AA'O bare contracted for other cars as follows : 1 first class psaienger eoscb, 1 second class baggage, mail and passenger coach, 18 box cars, 2 cattlo cars and a section cars. AYs have slso contracted for tbe lumber fdr the bridges over the 8outh Fork of the Catawba and Indian Creek, and the aame is now being delivered ; and tbe materia! is now preparing for tbe Warehouses at Chsrlottc, at " Brevard," opposite Dallas, in Gaston coun ty, at Llncolotoa, and Shelby, and one other re maining yet to be provided for at Ubcrryville. be tween Linoolnton and Slit! by. We may certainly hope to complete the rond to Shelby within six months. Beyond it, to wards Ruthcrfordton, there must be delay, owing to tho fact that Rutherford county waa unwillinz that her subscription of $00,000 should be ex. pendedoutof that county. As tbe grading was all let in it, it would have been siiuplo in tbe board to hsve sacrificed her subscription in the. building or brid'-cs, which could not be reached until tbe grading west of Shelby to the Ruther ford line should be in a fair way of completion. Tbe expenditure would havo been a ludicrous one, as we should have had several very high and expensive bridges si'tir.g idle upon their seats, wsiiing for the slow graduation to reach them. The Justices of the county havo recon sidered their decision, and placed the county subscription at the command of the Board, and with it we havo already contracted with energetic citixcna of Kutherford for the entire work, heavy and expensive as it is, between First Broad River and the section wet of Sandy Hun, and they have entered upon- their contracts with a de- ik. ;)... .k.n . v, T..ii.. termination that the railway shall reach Ruthcr fordton as early as possible. There now remains but a lew sections between Shelby and Ruthcr fordton, and tluse are chiefly light work that rsn present but little obstacle to final success. AVith i the exception of the bridges then, there is but . Kutneriorutun. j " Having thus succinctly stated the operations ! Having tnus succinctly stateu tne operations. .1,. .... :n i ....j ' l familiar with the ground, to present a prospective view of tbe future. In dJing so, as provision feast I'.vuioo. irupi Uockinuuani lo UhnrUtto. and to the unfinished sections of the AVestern Division. .Upon th Vi'ptr Eastern Diruiun, Anson rnnntv hss subtcribed $150,000 I'nion county h ubcril)l , 110,000 Mecklenburg county baa tubsciiotJ .,20,000 Mating a total of........... $240,000 In Anson and Union the great body of the graduation has been let to contract, and in Meck lenburg we have let sonie'fi?o sections to con-" tractors, and had three other sections io the hands of a white force since 10th July. Our subscriptions in these counties-will be fully ab sorbed by the work now doing, and considerably , more, for we have anticipated our State aid De et on thli ltlXlson, 0 SCCHOUS in Kich- ecting 5:00 miles in Itirhinond eonnty, for graduation,! bridges, warehouses, land dmiiajrt, tnginrciing, ! contingencies, upertruclur aod ciiiijim-:iit. all J " complete, tha "estimate $II8.H"2i 27:27 miles in Anion county, for the tiiine... ftl5,7-V ; Qr,-RIt n,tl. in lr..inn Min.tv fi.v itm ...i... AH.-. ?UI 1 12:00 in Mecklenburg county, fur the saina. 302,2:1 1 0 i)f0 brl.tgs... 6u 000 70:00 lailci To meet this weliavo County bondit Stat loan $l,aS7,!2:J $210,000 .JU4r8Q 804,180' De6i;it on I'pper Eastern I)iriion To this wcshonld add, For warehouses oust. of Kockiugham not. yet provided for 10,000 Oiw bi ads to contractors..., 40,01)0 Wharves snd Hunting Jocks, fa.,. 26,000 $j82.Cl3 8! ,O00 To this amount wo should add about $.30,000 for loss on. the sale of bonds, but as we havo that much due us in slock which wo can probably collect, and which is now being worked out, it need not be taken into tho cstiaiatc. On the Western Division most of the gi-a'lua'ion is ready, or in a st.ua of progress, leaving to lie pro vided for only . $101,700 Tojtrcet' the bridges.,.'....... , -$ttt . 203,470 For sills ou 81 miles warehouses, water st- . lions, engineering, tracklsj ing and eonlin- Cenoies ..... ... For equipment 81.1 uiilcs $11" 820 lieduct nowjaid for..., 27,000 00,078 70,320 63 000 45,000 Munds to contractors., Freight on iron from WilmingtrtiTtb Char lotte A... "!-' To meet this In part wa hava State, aid on aectiona two and three to spare, over cost of Iron.n. $190,000 672,020 iCIeavelaadbunde... ,000 . . , .. , A .. eM beeollectedaad applied...... 30 000 - wne oa weaicr inmuu. SjtSIl 826 fat the entire ocaapletioa of tbs , Eastern . m iiiiu. .n.n Hem ......... ........ For Western Dlvkloa wo abaj), need ru:: t.n-i.j anna,o4i) 843,620 -Total aVIeit e o4ioo oO M eo $1,00709 A sarn that, for ths eomplotion of a work of ibe ansgailads sad importauco of this, Is Tery lo considerable. From Wilmington to Rutherford. ' liZm2tt --r-- ;:.-;7.i; at a debt of even twenty millions. AVe have tho whole cost of our provided for except one mil lion, and with that borrowed, our debt will bo only three millions of dollars. To what sou roe then can we look for the needed loan I If ws turn to Northern capitalists, our bonds must be sacrificed at a disrouutof one-balfand make our additional debt two millions instead of one, tt they will meet us with ths reply, that our whole road and all our property is under a long mort gage to the State, and every argumeut will bo used to dfjraciate our paper. AVe must natu rally look to the State then for the necessary ' help. She has deemed this work worthy of being built, end to encourage her citizens to undertake-: it, promised to loan thorn what, at tbe time, was " thought possibly sufficisnt. That aid now proves to be t-x) little, after ber'citizens have taxed them selves liberally, and rcsdo every exertion for its completion. With her experience, she is new ' well aware that 88,000 per mile on ber part is in adequate to the building cf railroad tbiouyk any, even tbe richest.,! oar communities. To the North Carolina ftod she subscribed esp'dl. requiring no return of interest, to tbe extent of ?:!l,f00 per mile To the Atlsntie end North, Carolina $15,000, and AVe tern North Carolina $10,000 per mile; and of courae no lengthy ar gument or array of figures will be required to satisfy her that her aid to the extent of $11,400 per mile is neces-niy to build a road of a similar charaoter to those already aided ; and she should be leia slow in granting it, when we ask only for a loan, a loan ouly of her bonds, her good name; a name highly honored everywhere, which we may uie in tbe money markets of the world, ia place of our own hiimblo and mortgaged name, and by so doing save fully one million of dollars, tbe very aniouni which we denirc to borrow. - We may safely assure her, that when the connection at Charlotte is mo.de, and the road finished to Ruthcrfordton, that not only the interest Will be regularly met, but t hut the income of the Road will be amply sufficient for making an annual siuking fund, sufficient for meeting the entire debt at maturity. That the sooner the work is accomplished, the more certainly and earlier will this axsuranco be verified. Tbe slower we drag along, the igrentcr i the cost of tho work, and greater do our enibarrasmeuts become. The North Carolina road had adequate means and was finished with rapidity and to. this fact we may ! stint ute, in "a preat measure, its cheapness. AVe recommend, therefore, that for the comple tion of tho work we have entered upon, that the Company shall memorialize the Legislature through a committee fr tbe aid we need, and lur such other amendments as may be necessary fur the successful prosecution of our enterprise, and we should entreat her to save ns from the hands of merciless capitalists : for if we are , , . r , ' ,. , preyed upon by them, the hopes and investments ; Pr. ewt-kiwiacrs, n is. ' ho.n of .duIlarV ""'"r by Individ i . , " : . ' " " i ? ?urchT H'.8-! b balance of the road. Rails are now as low aa we can desire, or expect them to be, and i behooves us to procure them, if possible, - before a rise in pricr, AVo havo been negotiating for them on time, to be -paid for out of our promised State aid, when received, but the additional price asked for the credit, with the interest on it, gives but such slight advantage over any rise that may bo anticipated, that we declined the proffered terms. This is an important matter, as it may save usss. much us $240,000, if attended to at. an early day; snd it is only necessary to provide for the'' first cost of the iron, with the freight on the same, M lueiron ..may be bonded atd the duty paid vh.-n it ia nc,.,!! As Rockingham is in the middle of the fifth section uf twenty fire miles, and there will neces sarily be a puu.'u in the work nt that point, we should apply to the Legislature for one-half of her promised aid, to be paid to us according to in our charter is neccssnrv, cs to our present State aid. It is true that we are compelled to antieipato its reception by loans, and to spend the amount. before wa get it. Yet, thus far we have been enabled to do-so without much diffi culty, and the fund has been rendered nearly as effective as if wo had it in hand. ; ; It is to be hoped that in less than two years more, wet hall be enabled to put under contract the remaining' graduation, erect the bridges, and fitiish the entire linad.to' Ruiherfordion, This- ' is perfectly practicable wero the means at hand. OurStockholders will then possess a franchise of .which they may well bq proud. 1 llius far our freights olid travel have far outstripped all our . expectationsrand we have not transported freight . for more than hulf this amount wo might have ' done, for want of time and equipment. When our Itoad is -finished to Ruthcrfordton, wo may in all iciison expect our first year's income to bj at least $325,000; of this the interest will re quire but ?180,000, leaving 145,000 For ex penses and a sinking fund ; .and annually there after as is invariably the case tlw income wiltlo creaso by a heavy" per centoge. Our Stockhold ers should, therefore, look to their franchise aa a valuable, one should watch its interests and aid its t rogress. So soon as tho interest is met regularly, and a small annual sinking fund set aside to meet the princiiml, they may feel that the debt is extinguished, and tho cio si of tbe income their own. AVo have now done enough to place ours upon the lift cocerating Rail? . roads-we bave done enough to .give aspranre oLJemul success, and done far more than cur biu tsjir.adversaries worerevcr willing to admit, orour' tiiu'id friends could hope to see. If we had courage" in ihe beginning, there ia certainly no room for deppair now, each successive year has brought us nearer to tho attainment of our first hopes ; and now with still " Onward" as eurjaotto . . rwith energy in vur wills, and determination in our might, let us not pause antil "the Old North State" and companions may mingle the sparkling . ....:-- J .f .1 .1.. Km.. iiiuuuiaiu i uewa ui iun uiuru.u wi.u spray of tho"5cean-4u the evening. I By order of Board.. Rrspeotfully rubmtUed, - H. W. CUION, incident. '" axW Toombs says that if Georgia does not girt him tho sword he will take it. Let him take it, -and, by way of doing his country a great service, let hint ran aboos six inches of it into bia left breast fw Pilot. - - 1 -
North Carolina Argus (Wadesboro, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Dec. 20, 1860, edition 1
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