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8
mying that the steamboats could not have run at all tvUhout the improvements;
moreover, they will cease to run, if the company do not keep the river free
from the obstructions which are carried in by almost every freshet.
The company, in the year 1823, in view of the losses that they bad sustained
in attempting to improve the navigation to Haywood, by canalling to Foxes
island on the Cape Fear, &,c., consented to reduce the nominal value of the
capital stock 50 per cent, or f.'om 100 dollars to 50 dollars per share, and at'the
same time to surrender the control of their works to the State Board of In-ternal
Improvements, the State subscribing 25,000 dollars additional stock.
Under that "compact with the State, the company gave up to the Board of
Internal Improvements their fiats and machinery; and that board, under the
superintendence of tho civil engineer of the State, expended the sum (stated
in the answer to 1st quere) of S12,143 13. After which, they reported to
the Navigation Company that they had (as required by the act of tbe Legis-lature)
retnnvod all obstructions in the river between Fayetteville and Wil-mington,
and completed the navigation of that portion of the river; and that
the company, by its own resources arising from tolls, must henceforward
keep the river in order. Now, whether the expenditure by the Board of
Internal improvements was. judiciously done, or not, I am unable to say;
but I presume it wiis. If it w.is not, however, the State, and not the Navi-gation
Company, are responsible for it.
The capital stock of (he company amounts, at present, to 893,712 50; of
which the State owns ^^3,750. And the State can, and does exercise a
controlling inlluencc in the company, as was fully manifested at the last an-nual
meeting of the stockholders.
The following are the rates of toll as fixed by the company, viz.
Down—Cotton, 10 cents per bale
Tobacco, 20 cents per hhd.
Seed, 7 cents per cask
and all articles not enumerated above* 10 per cent, on the freight, estimated
by the printed rates of 1825.
Flour, 3 cents per barrel
Spirits, 5 cents per barrel
Grain, 1 cent per bushel
Casks Lime, 5 cents each
Tons Iron, 20 cents each
Plaistcr Paris, free.
Up—Salt, 1 cent per bushel
Hhds. & pipes. 25 cents each
Barrels, 5 cents each
Tierces, 10 cents each*
Other articles, 10 per cent, on the rates of 1825.
The following statement exhibits the quantity of commodities transported
on the river between Fayetteville and Wilmington, during the year ending
^ St Jane, 1831, on which tolls were assessed, to wit;
Down—14.248 bales Cotton, I 100 half barrels Flour,
526 hhds. Tobacco, { 16 barrels Spirits,
4,350 bushels Wheat, 1454 casks Seed
10,939 barrels Flour,
|
S424 84 freight on articles not enumerated, tolls 10 per cent.
Up—64.364 bushels Salt,
2,195 hhds. and pipes,
3,191 barrels.
160 tierces,
2401 tons Iron,
251 casks Lime,
811,449 68 freight on articles not enumerated, colls assessed at 10 per cent.
If further information is desired, 1 refer you to a report made to the Board
of Internal Improvement, in Nov. 1830, which you no doubt can get access
to in Raleigh.
I am, very respectfully, your ob'dt servant,
GEO. M'NEILL, Agent C. F. N. C.
Object Description
Description
| Title | Page 204 |
| Full Text | 8 mying that the steamboats could not have run at all tvUhout the improvements; moreover, they will cease to run, if the company do not keep the river free from the obstructions which are carried in by almost every freshet. The company, in the year 1823, in view of the losses that they bad sustained in attempting to improve the navigation to Haywood, by canalling to Foxes island on the Cape Fear, &,c., consented to reduce the nominal value of the capital stock 50 per cent, or f.'om 100 dollars to 50 dollars per share, and at'the same time to surrender the control of their works to the State Board of In-ternal Improvements, the State subscribing 25,000 dollars additional stock. Under that "compact with the State, the company gave up to the Board of Internal Improvements their fiats and machinery; and that board, under the superintendence of tho civil engineer of the State, expended the sum (stated in the answer to 1st quere) of S12,143 13. After which, they reported to the Navigation Company that they had (as required by the act of tbe Legis-lature) retnnvod all obstructions in the river between Fayetteville and Wil-mington, and completed the navigation of that portion of the river; and that the company, by its own resources arising from tolls, must henceforward keep the river in order. Now, whether the expenditure by the Board of Internal improvements was. judiciously done, or not, I am unable to say; but I presume it wiis. If it w.is not, however, the State, and not the Navi-gation Company, are responsible for it. The capital stock of (he company amounts, at present, to 893,712 50; of which the State owns ^^3,750. And the State can, and does exercise a controlling inlluencc in the company, as was fully manifested at the last an-nual meeting of the stockholders. The following are the rates of toll as fixed by the company, viz. Down—Cotton, 10 cents per bale Tobacco, 20 cents per hhd. Seed, 7 cents per cask and all articles not enumerated above* 10 per cent, on the freight, estimated by the printed rates of 1825. Flour, 3 cents per barrel Spirits, 5 cents per barrel Grain, 1 cent per bushel Casks Lime, 5 cents each Tons Iron, 20 cents each Plaistcr Paris, free. Up—Salt, 1 cent per bushel Hhds. & pipes. 25 cents each Barrels, 5 cents each Tierces, 10 cents each* Other articles, 10 per cent, on the rates of 1825. The following statement exhibits the quantity of commodities transported on the river between Fayetteville and Wilmington, during the year ending ^ St Jane, 1831, on which tolls were assessed, to wit; Down—14.248 bales Cotton, I 100 half barrels Flour, 526 hhds. Tobacco, { 16 barrels Spirits, 4,350 bushels Wheat, 1454 casks Seed 10,939 barrels Flour, | S424 84 freight on articles not enumerated, tolls 10 per cent. Up—64.364 bushels Salt, 2,195 hhds. and pipes, 3,191 barrels. 160 tierces, 2401 tons Iron, 251 casks Lime, 811,449 68 freight on articles not enumerated, colls assessed at 10 per cent. If further information is desired, 1 refer you to a report made to the Board of Internal Improvement, in Nov. 1830, which you no doubt can get access to in Raleigh. I am, very respectfully, your ob'dt servant, GEO. M'NEILL, Agent C. F. N. C. |
