Annual report of the Raleigh and Gaston Rail Road Company

              "1
Clje Lititatp
of t|)e
(Unmt^itV of jn^ortl) Carolina
Collection ot jRottl) Caroliniana
FOURTH ANNUAL REPORT
Ot
THE RALEIGH AND GASTON
RAIL-KOAD COJflPAI^Y. '^
JUNB> 1840*
RALEIGH:
PKINTKD AT THE OFFICE OP THE RALEIGH REGJ8TER, ^f
1S40.
PROCEEDINGS
OF THE
STOCKHOLDERS
OF THE
RALEIGH & GASTON RAIL ROAD COMPANY.
At a General Meeting of the Stockholders of the Ra-leigh
and Gaston Rail-Road Company, held at the Bank-ing
House of the Bank of the State of North Carolina,
on Monday, June 1, 1840, on motion of George W.
MoRDEGAi, Esq. S. S. Downey, Esq. of Granville, was
appointed Chairman, and Weston R. Gales, Secretary.
On motion. Col. William Robards, Judge Cameron,
and George W. Mordecai, Esq. were appointed a Com-mittee
to ascertain and report the amount of Stock rep-resented
in the meeting. They subsequently reported,
that 3,671 Shares were represented, either personally,
or by proxy, being a majority of the whole Stock.
The Report of the President and Directors was sub-mitted
through George W. Mordecai, Esq. and, hav-ing
been read, was, on motion, ordered to be printed
under the direction of the President and Directors.
The Report of C. F. M. Garnett, Esq. Chief En-gineer,
to the Directors, was also read and ordered to be
printed.
On motion of John H. Bryan, Esq.
Resolved unatiimously, That in the opinion of the Stockholders of the
Raleigh aad Gaston Rail Road Company, the successful completion of the
4 RALEIGH AND GASTON RAIL-R{>$r> COMPANY.
aaid Road is materially due to the ability, diligence and devotion to its
interests of their late President, George W. Mobdecai, Esq.
Resolved, That the thanks of the Stockholders are hereby tendered to
him for the valuable services rendered them as President of the Company,
And, on motion of Rev. B. T. Blake,
Resolved unanimously, That the thanks of the Stockholders of the
Raleigh and Gaston Rail Road Company are due, and are hereby tender-ed
to their Chief Engineer, C. F. M. Garxett, Esq. for the eminent
skill and marked fidelity which he has displayed in the construction and
general management of said Road.
The meeting then proceeded, on motion of Mr. Boy-lan,
to the election of a President and five Directors.
Messrs. John H. Bryan, and Bernard Dupuy, were
appointed to conduct the balloting.
The Committee reported that the following persons
were elected, viz : Samuel F. Patterson, President;
Duncan Cameron, William Boylan, Joseph W. Hawk-ins,
George W. Mordecal, and William Robards, Direct-ors.
Concurred in.
On motion of Mr. Bryan, the books were ordered to
be balanced up to the 1st day of May, 1840, a Report
having been made on the accounts of the Company up
to that date.
On motion, Messrs. Wm. Peace, Richard Smith,
and Bennet T. Blake, or a majority of them, were ap-pointed
to examine the books of the Company, and re-port
to the next Annual Meeting.
On motion, the meeting adjourned.
S. S. DOWNEY, Chairman.
Weston R. Gales, Secretary.
A]\I\UAIi REPORT,
OF THE
COMPANY.
The Board of Directors of the Raleigh and Gaston
Rail-Road Company, have the satisfaction of announcing
to the Stockholders, at their present meeting, the com-pletion
of the work entrusted to their management A
work alike important, whether regarding its magni-tude
and extent, or its great advantages to the country.
Many unavoidable circumstances have delayed its
completion, beyond the period originally contemplated.
The vessel containing a cargo of iron, which sailed from
England in the month of June, 1839, was stranded on
the coast of Ireland ; and, although the iron was finally
recovered, the delay rendered it necessary to supply its
place, by the purchase, in this country, of a sufficient
quantity to lay down the portion of the Road prepared
for its reception. The purchase was made in Philadel-phia,
and again, a vessel containing a part of this was
wrecked, and the iron lost. The shipment of the re-mainder
from England, was delayed by the difficulty of
procuring vessels for City Point, to which port it was or-dered
; so that it did not arrive until late in the winter,
when another detention occurred, from the freezing of
the river. From these causes, the road was not ready
6 RALEIGH AND GASTON RAIL-ROAD COMPANT.
for transportation to Raleigh, until the last of March,
1840; since which time, the trains have been running
with great regularity.
Most of the fixtures on the line have been completed ;
and the shops and Depot in Raleigh will soon be finish-ed.
Some slight improvements are still required on the
road ; experience has proved the necessity of placing a
turn-out, car shed and water station, at the head of the
Gaston plane ; as the locomotives can draw much heavier
loads from that point than they can possibly bring up the
plane from Gaston. Something similar to the fixture on
the Greensville Road, will answer every purpose, and
will not be attended with much expense. An additional
turn-out will be required at Stanton's, between Hender-son
and Franklin depots, which will be shortly laid down.
These, with the completion of the works in Raleigh,
constitute the only additional items of expenditure for
the construction of road.
The cost of this work has certainly been greater than
was at first contemplated ; but when we observe the
character of the country over which the road was neces-sarily
obliged to pass, and the heavy structures over the
streams intersecting it, this increase in the cost will be
readily accounted for. While the line from the Roan-oke
to within a few miles of Tar river, was as favorable
as any that could be found in the upper country, the re-mainder
Avas of a very difierent character, and exhibits
some of the deepest cuts, and heaviest embankments on
any road within our knowledge. The expense was again
much increased by the quantity of rock met with in ma-ny
of the excavations. This, though much enhancing
the original cost, has imparted to the work a firmness
BALEIGH AND GASTON RAIL-ROAD COMPANY. 7
and durability, in which it will compare with any other
of a similar construction. The same observation will
apply, with equal truth, to the bridges on the road ; and
we cannot forego this opportunity of calling your par-ticular
attention to the one across Tar river, which, from
its great elevation, (being 94 feet above the level of the
water.) and its admirable construction, forms a pictu-resque
feature in the road, and does great credit to its
projectors, and the contractors who executed the work.
Under the contract made with the Petersburg Rail
Road Company, they continued to do the transportation
upon your road until the first of December, 1839, when,
having provided a few locomotives and cars, we took en-tire
charge of the road. From the small number of lo-comotives
and freight-cars, and the great quantity of
produce which has been brought to the different depots,
it has been impossible to transport it as rapidly as it was
received. This has given rise to some complaints which
will be obviated before the next season. Our means have
not yet enabled us to purchase a sufficient supply to an-swer
the demands of the country. There are four six-wheeled
locomotives on the road, made by Messrs. D. J.
Burr & Co. of Richmond, Virginia. Though but recent-ly
engaged in the construction of locomotives, these
gentlemen have already acquired considerable reputa-tion,
and their engines are equal in power to any we
have seen. Two eight-wheeled locomotives have been
recently ordered from Mr. William Norris, of Phila-delphia.
These possess a decided advantage over any
others yet used, particularly on wooden roads, for, while
they have more power, the weight is so distributed, as
materially to lessen the injury to the road-way. When
8 RALEIGH AND GASTON RAIL-ROAD COMPANF^
these shall be received, our supply, though still limited^
will, we think, be sufficient for our present purposes. It
has been our endeavor throughout, to confine the expen-ditures
in every thing, within the lowest possible limit;
believing that our efforts should be mainly directed to the
speedy extinguishment of our out-standing debts, which,
with a still further indulgence from our creditors, (some
of whom have acted with praise-worthy forbearance and
liberality,) we hope to be able to effect.
In organizing a force for the repairs of the road, and
in employing agents for transportation, and at at the de-pots,
a plan has been adopted, which our own experience
and that of other Companies, satisfied us was the most
economical, and least liable to objection or abuse.
A general Superintendant of the road and transporta-tion
has been employed, whose duty it is to see that the
Agents at the depots discharge their duties, and that the
road is kept in proper repair. He also superintends the
shops and machinery, and sees that the locomotives and
cars are kept in proper order, and directs the manner in
which the transportation shall be done. For the dis-charge
of these all important duties, we have secured
the services of Mr. W. Hollister, who acted in the same
capacity on the Richmond, Fredericksburg, and Poto-mac
Road, and whose skill, experience, and attention,
are a sure guarantee for their faithful performance.
The road has been divided into four sections, on each
of which an overseer is employed, with a number of
hands sufficient to keep it in repair. Slaves have been
exclusively employed, and to avoid unnecessary waste
and extravagance, contracts have been made with their
owners for feeding and clothing them. The price paid
RALEIGH -VXD GASTON RAIL-ROAD COMPANY. 9
for tlie hire, food, and clothing of each is ^§150 |;er an-man
for sound, able-hodied men. Though apparently
a high price, this arrangement will, we believC; prove
most economical.
There are eight depots on the line, besides the one at
Raleigh. At each of these an Agent is employed, who
furnishes the requisite labor, and receives compensation
for his services, in proportion to the importance of the
depot, the number of hands employed, and the amount
of business done.
There is an engineer, fireman, and train-hand attached
to each engine. At the shops in Raleigh, there are two
head-workmen, and three common blacksmiths employ-ed,
to repair the engines and cars. In these matters, all
practicable economy has been exercised.
The subject which has presented the greatest difficul-ty,
and which has not 3^et been definitely arranged, is the
mode of conducting our transportation, in connexion
with the Petersburg and Greensville Rail Roads. There
are but two modes in which this can be effected—the
one to unload our cars at the termhii of our Road at
Gaston, and there deliver the lading to the Petersburg
Rail Road, and receive from it goods destined for our de-pots.
The other—to permit the cars of this Company
to proceed with their loads to Petersburg—the Peters-burg
Company sending their cars in like manner on our
road. These plans are both liable to objections ; but of
the two, the latter appears to us decidedly preferable.
The first plan would necessarily require us to build a large
ware-house at Gaston for the reception of goods and de-livering
of produce, and to employ an agent and several
hands there ; but the greatest objection would be the de-
10 RALEIGH AND GASTON RAIL-ROAD COMPANr«
lay and risk which would be incurred. By the plan now
pursued, the cars are not unloaded until they reach the
depot to which the goods are destined. By this course,
the expense, delay, and risk are much diminished. One
objection to this, however, is the greater liability to ac-cidents
to our cars on the Petersburg Road than on
ours—the one being new, and the other having been sev-eral
years in operation. The same remark is applicable
to the cars of the respective companies. Tliese objections,
time, that great leveller, will remove. Another difficul-ty
arises—in the event of loss or damage of goods, to
ascertain upon which company the liability should rest.
It is impossible that this can ever be accuratel}'' deter-mined
; but the employment of an agent at Gaston,
whose duty it shall be, in connexion with the agent of
the Petersburg Rail Road Company, to examine the cars
on their arrival, will, in a great measure, obviate this ob-jection.
No permanent arrangement has yet been made
between the companies ; but, unless some preferable
mode be suggested by you, it is proposed to adopt one
based upon the plan last mentioned.
The transportation upon the Road has, as before ob-served,
been very heavy, and would have been much in-creased,
if the force employed had been sufficient to con-vey
the produce as fast as it was received. A table is
submitted, exhibiting the receipts from this source from
the commencement to the first of May last. When we
reflect that, during the greater part of this time, only
ene-half of the road was in operation, and that only one
month had elapsed since it was opened to Raleigh, and
when we consider also the universal distress which has
prevailed, diminishing both travel and trade, we do not
RALEIGH AND GASTON RAIL-ROAD COMPANT. 11
think this exhibit at all discouraging. Taking an aver-age
of the time, for which the different portions of the
Road have been in use, it will amount to eleven months
on the whole line, which would give an average of
§7,150 per month for the gross receipts. This will be
much increased, when we shall be prepared to transport
with more regularity and despatch. The travel, on all
roads, has, we believe, from the causes above alluded to,
been much diminished, the present year, and we have
suffered in common with others. We cannot expect to
enter into successful competition, with other lines, for
the gi-eat Southern travel, until a more expeditious and
convenient connexion is formed between Raleigh and
the South Carolina Rail Roads, which we hope to see
effected in more propitious times. But, independently
of this, a great accession of travel would be obtained to
this road, by the establishment of a good daily line of
Coaches from Raleigh to Knoxville, Tennessee—a route
which would attract travellers as being the most certain,
expeditious, and comfortable communication between
the Western and Atlantic cities. To effect this, we are
informed it only requires a short interval to be filled
between Salisbury and Ashville, via Morganton, on
which there is now a tri-weekly line. Every effort will
be made, and every facility affarded for completing this
line.
In connexion with this subject, we do not deem it ir-relevant
to impress upon you the importance of improv-ing
the communication between Raleigh and the West
—
an object to which your attention has been before direct-ed,
and which is certainly as desirable to us, as it is impor-tant
to that part of the State. By constructing a Rail
12 RALEIGH AND GASTON RAIL-ROAD COMPANY.
Road from some suitable place on the Yadkin or Ca-tawba
to Fayetteville, with a branch from some point in
the county of Chatham to Raleigh, and thence connect-ing
(as is proposed by the Wilmington Rail Road Com-pany,)
with their Road at or near Waynesborough, it
seems to us, that the interest of the whole State would
be promoted, and the most populous and fertile section
of it would possess outlets to Raleigh, Fayetteville, and
Wilmington, three of our most important towns, giving
a choice of markets, from which it is now almost entirely
excluded. The execution of this scheme we have long
had at heart, and we are satistied, if all sectional jeal-ousies
are forgotten, and the aid of the State enlisted, it
may be accomplished ; and it is a work, in which we do
not hesitate to say, the State should take a deep interest,
as it will do more to develope her resources, and advance
her to that high rank in the union to which she is enti-tled,
than any other which can be devised.
Should this, however, be considered a work of too
great magnitude to be attempted at this time, we would
then recommend, as the best substitute, a good McAd-amised
or Turnpike road from Raleign to the West.
This possesses indeed some advantages over a Rail Road,
as the farmers of the West would, thereby, be enabled
to transport their produce in their own wagons, at a sea-son
of the year when they would have no other employ-ment.
By extending such a road from Raleigh to Waynes-borough,
(or if preferred, connecting those two points by
rail-road,) a direct communication would be opened be-tween
the West and two good markets, and the object so
long desired by our Western friends, be at once attained.
This cannot be too earnestly pressed, and should form a
RALEIGH AND GASTON RAIL-ROAD COMPANr. 13
prominent feature in the legislation of our next Assembly.
The land damages have been settled on the whole line
of the Road, except in the county of Wake, where the
assessments made by the last Commissioners, were con-sidered
exhorbitantj and efforts are making to reduce
them.
Of the Bonds issued in pursuance of the provisions
of the Act of 183S-'9, there have been sold 3369,000.
The remainder have been pledged as security for loans
effected by the Company, and when sold, the proceeds
will of course be first applied to the extinguishment of
those debts. They have been disposed of on most favor-oble
terms—none of them having been sold at less than
their par value, and we believe they will soon command
a premium.
Since your last meeting, the gentleman who has pre-sided
over the affairs of the Company from its commence-ment,
has tendered his resignation, which has been ac-cepted,
and the Directors have been fortunate in supply-ing
his place by the appointment of General Samuel F.
Patterson, of Wilkes.
John H. Bryan, Esq. has resigned his seat as Director,
and George W. Mordecai was appointed in his stead.
By order of the Board of Directors,
GEORGE W. MORDECAI, Pres'f.
11EP0P».T OF THE CHIEF ENGINEER.
Raleigh, il/f/^ 30, 1840.
Gentlemen : It becomes my duty once more, and for
the last time, to report the progress of the work entrust-ed
to my care, and its present condition.
At the period of my last report, the road was in use
to Henderson only. On the first of November follow-ing,
it was opened to Franklin Depot, and in the month
of March, the entire line to Raleigh went into operation.
Thus did the work go into full operation in three years
and six months after the first contract was let. I need
not enumerate the causes which have combined to retard
this enterprise. During the last twelve months, the dis-appointments
in receiving iron have occasioned much
delay and inconvenience. But, with all the disadvanta-ges
against which wc have had to contend, the time
occupied in constructing the road will not appear long to
any one who reflects on the vast amount of work accom-plished.
To be satisfied on this point, you have but to
go over the road and see the number of deep cuts and
high einbankments, the magnificent bridges, and the vast
quantity of rock excavations.
The Depot and fixtures in Raleigh are yet unfinished,
but are progressing as rapidly as circumstances will per-mit.
In a few weeks these will be completed, and yoU
will have a ware-house nnd work-shops which, I am con-fident,
will combine usefulness and economy in no ordi-nai-
y degree. The buildings themselves will cost but
HALEIGH AND GASTON RAIL-ROAD COMPANT. 15
^12,000—all the fixtures at this point will probably
reach ^20,000 in cost. They are so arranged as to ac-commodate
the business which may be immediately ex-pected,
and to admit of being conveniently enlarged to
four times their present capacity.
Having approached so near the end of our undertak-ing,
let us for a moment look back on what we have
done. We have constructed a road 85 miles in length,
over a country which presents as many natural difficul-ties
to such an enterprise, as any South of the Potomac,
in which such an attempt has hitherto been made—a road,
too, that fully answers the purposes intended.
The Raleigh and Gaston Rail Road Company was
chartered in January, 1836, and forty miles of the work
were put under contract in the October following.
It will convey some idea of the character of the work,
to mention, that the depth of the cutting, in some places,
reaches 35 feet, and the height of the embankments 65
feet ; and the average of both is very great. Much rock
excavation was encountered. There are five bridges ;
one over the Roanoke, 1,040 feet in length; one over
Tar river, 84(j feet long, (the road-way 94 feet above the
surface of the water ;) one over Cedar creek, 528 feet
long, 70 feet above the water ; one over Neuse river,
325 feet long, 55 feet above the water ; and one over
Crab-tree creek, 313 feet long, and 50 feet above the sur-face
of the water. All these bridges are built on the lat-tice
plan of Town, and are supported on piers and abut-ments
of granite.
The graduation of the road, although far from easy, is
such as to oppose no seriou obstacles to transportation. The
first 43 mileSj from Gaston to Henderson, are particular-
16 KALEIGII AND GASTON RAIL-ROAD COMPANY.
ly well adapted to the trade of that section of country
—
there being a much larger tonnage in one direction than
the other. Of this distance, about 30 miles consist
of straight lines, the remaining 12 of curves, of radii,
varying from 1,910 to 11,460 feet. Of the grades op-posing
the heavy trade, 3i miles are at the rate of 10
feet per mile and under ; 41 at the rate of 20 feet per
mile and under; and 2^ at the rate of 25 feet per mile
and under. The remainder of the 42 miles is level, or
descending with the heavy trade.
The limits of curvature, on the whole road, are the
same as on that portion just described. The limit of
graduation on the whole road is 40 feet per mile, with
two exceptions—a grade 2| miles in length, rising at the
rate of 63 feet per mile from the Roanoke river; and
one of 14 mile in length, rising at the rate of 50 feet per
mile from Crab-tree creek towards Raleigh. These in-clines,
being at the termini of the road, may be so man-aged
as not to limit the useful effect of an Engine.
The performance of the Company's locomotive " Tor-nado"
taking a train of 30 loaded cars from Henderson
to Gaston, furnishes a very fair test of the capabilities of
the road. The Tornado weighs 62 tons v>'ithout water;
the cars weigh about 2 tons, and are loaded with a net
weight of about 3 tons each—making a gross weight, in-cluding
engine and tender, of 162i tons.
Let us reflect, too, that, during the last three years of
our operations, we have had to contend with the great
inconvenience of a capital too limited, while the unex-ampled
embarrassment of the pecuniary affairs of the
country tended greatly to augment our difficulties.
In my last report, I stated that the cost of the road (ex-
RALEIGH AND GASTON RAIL-ROAD COMPANY. 17
elusive of cars and engines,) would not materially ex-ceed
my original estimate of Si,215,000. It is now be-lieved
tliat it will reach §1,270,000. This increase may
be fully accounted for, by a few circumstances which
could not then be foreseen. Among these, are the sus-pension
of specie payments, which added about 10 per
cent, (commissions and exchange) to all the remittances
for iron—the purchase of a thicker iron than was then
intended—important alterations, which it was found ne-cessary
to make to Gaston bridge. Others might be enu-merated,
but are deemed unnecessary.
Your road will still bear comparison, in cheapness,
with any work in the Union.
It has been my earnest endeavor, while exercising the
strictest possible economy, to spare no expenditure which
appeared absolutely essential to the usefulness of the
road. liow far I have succeeded, I submit to the public
to decide. A portion of the road has been in operation
two years, and the public have had a full opportunity to
judge of the manner in which it has been executed.
The locomotives which we have received from Messrs.
D. J. Burr, & Co. of Richmond, Virginia, have fully an-swered
our expectations. They are equal, if not supe-rior,
in beauty and strength of workmanship, and in per-formance,
to any in this or any other country. You are
aware that I would have prefen-ed engines with eight
wheels to these, which have only six. The experience
of the last twelve months has gone far to confirm the
opinion, that none but eight-wheel engines can be eco-nomically
used on wooden rail-roads. There are very
few engines used of a less weight than those which you
now have ; but it is evident that their weight (being
18 RALEIGH ANI> GASTON RAIL-ROAD COMPANY.
thrown on 6 wheels only) has materially augmented the
cost of repairs to the road. It will be advisable, as soon
as the two eight-wheel engines, now ordered, are procur-ed,
to have an additional pair of wheels placed under
each of those now on the road. They will then be bet-ter
adapted to the transportation of the mail and passen-gers,
than any other plan of engine that could be pro-cured.
Experience has shown that about eightthousand pounds
is as much as ought to be put upon one pair of driving
wheels for a road like yours ; which makes it necessary
to have a greater number of wheels, and to distribute the
weight. Another great improvement, getting now into
general use, is the eight-wheel car for freight. It adds
materially to the safety of transportation, and reduces
the wear and tear of the road. I would therefore recom-mend
that the cars now to be made, should be construct-ed
on that plan.
Another matter, to which I cannot too earnestly call
your attention, is the speed at which the engines run.
Nothing has tended more to create the unmerited preju-dice
against wooden rail-roads, than the attempt to travel
en them at the same rate which is found proper for iron
roads. The limited number of engines now on your
road, has made it necessary to adopt here a higher speed
than a judicious economy would dictate. As soon as
practicable, the speed of the mail train should be reduc-ed
to twelve miles per hour, running time, and even less,
while six-wheel engines are employed ; and that of the
freight train to eight miles per hour.
As soon as these changes can be made, you will find
the cost of repairs (that great vortex which swallows up
RALEIGH AND GASTON RAIL-ROAD COMPANT. 19
all your profits,) to fall far below what it has been es-timated
to be.
With all the disadvantages of heavy engines and high
velocities, your road and machinery are now in excellent
condition, and bid fair, with a little care, to remain so.
I hope that the thundering anathemas which are daily
hurled at the rail-road system, and especially against
wooden rail-roads, will be considered a suihclent excuse
for my saying a few words in defence.
There is nothing more common now, than to hear it
stated that the rail-roads in the United States have yield-ed
no profit, and nothing can be farther from the truth.
The pecuniary distress of the country has operated in
various ways to check the prosperity of rail-roads. Many
roads have been built without a sufficient capital, and the
surplus of their cost could not be raised by an additional
subscription of stock, but had to be paid with the re-ceipts
of tbe road. Thus has a general opinion gained
ground, with those who have taken no pains to investi-gate
the subject, that these roads are unprofitable. Many
will be surprised to learn that, from an accurate calcula-tion
made within twelve months, all the rail-roads in op-eration
in the United States had yielded an average year-ly
interest of five and a half per cent. The Chevalier
de Gerstner, a man of great learning, and one in whose
statements implicit reliance may be had, took great pains
to travel over the United States, visit every public work,
and collect accurate information. In an article, publish-ed
in June, 1839, he says:
—
" Several Rail Roads have been undertaken with in-sufficient
means, and the Stockholders found themselves
under the necessity of employing the income of the first
20 RALEIGH AND GASTON RAIL-ROAD COMPANY.
years inimproving the rail-road, in bulldingengine-hoiises,
&c, and furnishing locomotives and cars. In consequence
of this, the stockholders got, during that time, no divi-dends,
but the rail-road still yielded a good income. 0-
ther rail-roads, when finished, paid from five to ten per
cent, income to the stockholders : others have not yet
paid any dividends for want of a sufficient number of
passengers and freight. The average result of the rail-roads
now in operation in the United States is, that they
give a yearly interest of Jive and a half per cent, on
the capital invested. This result must be regarded as
very satisfactory, because the greatest part of the lines
have only been a few years in operation.
" On all lines, there is a yearly increase of at least 15
to 20 per cent, in the gross income, so that even those
lines which do not pay now, will give, in a few years, a
handsome dividend. According to these statements,
based on the communications collected in this country,
I have no doubt, that the large capital invested in rail-roads,
in the United States, will not only produce an in-calculable
benefit to the country, but likewise pay the
shareholders a dividend, which, under good management,
by the constant progress in population and trade, must
likewise, from year to year, increase. '^
These facts are certainly encouraging ; and yet, a very
large number of these rail-roads examined by the Chev-alier
de Gerstner, are the proscribed wooden roads. It
is not attempted to deny that roads constructed in a more
costly and durable manner, substituting iron for wood,
would be much more profitable. Those who proposed
the wooden roads, were well aware of this fact ; but the
question was, whether these, should be made, or none at
RALEIGH AN'D GASTON RAIL-ROAD COMPANY. 21
all. There has bc^n scarcely a single road in the United
States, which had a capital sufficient to complete it; and
if it had been proposed to construct roads, which should
cost some §4,000 per mile more than these have done,
few would have been found to invest in them. It is to
be regretted that we could not have roads of a more per-manent
character; but, in their absence, the others have
been found to answer well in many cases; and they will,
I am confident, continue to do so.
The Petersburg road, which is of this character, has
divided as much as six per cent, per annum on the capi-tal
from the commencement. This road agrees with yours
in the character of its superstructure, and in the fact of
freightbeing the principal source of its revenue. The Geor-gia
Rail Road agrees with yours likewise in these particu-lars.
I received, through a private source, an account of the
business of that road for the last year, which is very cheer-ing.
Their business for the year (the 4th of the age of
part of the road) amounts to §200,000, and their expen-ses
are §75,000. The business of the previous year was
about §134,000, and expenses §63,000. There has been
no increase in the rates of freight, and there has been a
falling off in the number of passengers of 5,000. So
that, notwitstanding the diminution in passengers, the
quantity of freight has increased so much, as to add
about 50 per cent, to their entire receipts, while their
expenses have only increased about 10 per cent. This
is conclusive evidence that a freight busines may be prof-itable
on a wooden road. It is only necessary to have
enough of it. The expenses of a road do not increase in
the same ratio with their business—as in the case of the
Georgia Rail Road, your business may be doubled, while
:22 RALEIGH AND GASTON RAIL-ROAD COxAIPANy.
your expenses will not be more than 20 per cent, greater.
The receipts on the Raleigh and Gaston Rail Road may
not now greatly exceed the expenses. Why is it so ?
The travel is almost entirely .suspended—few merchants
have bought any goods this spring, and the low price of
cotton deters the farmer from carrying it to market.
The entire business intercourse of the country is com-pletely
paralysed, and your road is most seriously affected
by this state of things. Let trade and prices but revive,
and you will see on your road a business far exceeding
the anticipations of most of you. Let good lines of
stages be established from Kalcigh to Nashville, Tennes-see,
and the whole travel from that district of country
will come through Raleigh. There is no ground for de-spondency,
even if the road is never extended beyond
Raleigh ; but let it once be pushed on South, and no one
can doubt that it will confer lasting benefits on the stock-holders.
The extension of the road is delayed, but, I confidently
believe, it will not be prevented by the derangement of
the monied afl'airs of the country.
The value of the stock in the Georgia Rail Road, the
Charleston and Hambui-g road, the Charleston and Cin-cinnati
road, and the entire line of roads from Raleigh to
New York, would be so seriously and so beneficially af-fected
by the connection of Raleigh and Columbia, that
the stockholders will certainly see their interest and pro-tect
it. I know that the liveliest interest is felt in this
project in South Carolina, and this interest is increasing
daily.
Let me call your attention to a very able article
in the last number of the New York Review. It is
RALEIGH AND GASTON RAIL-ROAD COJMPANr. 23
a review of three works, one of which is a work pub-lished
in Paris by Michel Chevalier, a French gentleman
of distinction and great talents, who travelled through
this country. The author divides the works of the Uni-ted
States into three classes—his third class is those
which have for their object, " To connect the North and
South poles of the Union, New York and New Orleans."
The Reviewer, after having noticed the first and second
classes, gees on to soy :
—
"There is no such uncertainty as to the third line of
commuiiieation mentioned byTJr. Chevalier,that between
New York and New Orleans. Connecting, as lliis does,
the metropolis of the Union with the great Atlantic ci-ties
of the Northern, and the capitals of the Southern
States, this line of communication has, at the same time,
the advantages of forming the most direct line between
the Eastern and Southern States, and of traversing a belt
of country which presents, for the execution of a line of
rail-roads, peculiar facilities. The public has evinced its
perception of the advantages of this great line of tho-roughfare,
by the large amount which has been contribu-ted
within the last six or eight )^ears, almost entirely by
individual resources, to its execution. The separate links
which have been so far made, bid fair, even should it not
be extended beyond its present terminus in the South^
to be extremely profitable ; but there is scarcely a doubt^
that within six or eight years more, the whole chain of
communication will be completed to New Orleans, and
that there will then be a travel and trade over every por-tion
of it, beyond any present conception of its extent.
" At the time of the publication of the sketch of Mr,
Chevalier, detached links only in this chain of communis
34 RALEIGH AND GAfiTON RAIL-ROAD COMPANY.
cation had been made as far as the Roanoke, in North
Carolina. Within the two years which have since elap-sed,
the Philadelphia and Baltimore, the Richmond and
Fredericksburg, and Richmond and Petersburg Rail
Roads, have been put in operation ; and South of the
Roanoke, lines of rail-roads have been completed to
Wilmington, in North Carolina, at the mouth of the Cape
Fear, and to Raleigh, the Capital of the State, on the
more direct route to Columbia and Charleston. Between
Columbia and Branchville, on the line of rail-road which
connects Charleston and x\gusta, a rail-road is now in
progress of construction, which, it is understood, will be
completed in the course of the present, or early the com-ing
year, leaving only the distance between Raleigh and
Columbia, (about two hundred miles, but which is said
to be of extremely easy execution) to be constructed, to
furnish a complete rail-road communication between New
York and Charleston and Augusta. Between Augusta and
Montgomery, on the Alabama river, whence to New
Orleans, there is, for about two-thirds of the year, an ex-cellentsteam-
boatcommunication. Rail-roads, now in pro-gress
of execution, will probably be finished by the time
the line north of Augusta is in readiness.
" Great profits may undoubtedly be anticipated in eve-ry
portion of this great chain of communication, when
executed with tolerable judgment and under favorable
charters. In another point of view, however, it is much
more interesting to us. No line of improvement which
has been projected in America, and perhaps none which
can ever be made, is so important in a political as well as
commercial aspect, as the one we have been contemplat-ing.
In time of war, the Government will be enabled,
RALEIGH AXP GASTOX RAIL-ROAD COMPANT. S5
by it, with a moderate standing army, to provide for the
defence of its whole Atlantic coast, an object not to be
attained effectually without it by the whole force of the
country. It will furnish, in such a contingency, the
means not only of transporting men and munitions of
war, but in the event of a blockade of the coast, of ex-changing,
notwithstanding, the staples of the South for
the manufactories of the North and East. In the esti-mation
of the patriot, devoted above all things to the
preservation of the Union, connexion, between what
JMr. Chevalier terms its two poles, has yet a higher val-ue.
"When," he remarks,—"New York shall be only
six or eight days journey from New Orleans, not only
for a rich class travelling in a privileged manner, but for
every shop-keeper and every workman, separation will
be no longer possible. Great distances will have disap-peared,
and this Collossus, ten times vaster than France,
will maintain its unity without effort."
"It is among the many fortunate circumstances of our
country, that its most essential line of improvement of-fers
such strong inducements to its speedy execution,
both in the prospects of profit presented by it, as an in-vestment,
and its other advantages. In other countries,
the works essential to their defence and protection, have
been executed usually at great cost, and with heavy bur-thens
on the subject. With us, the one which is to make
us impregnable in war, and to unite us indissolubly in
war and peace, is, at the same time, to add largely to the
wealth of the nation, and of the shaie-holders of the
companies co-operating in its execution."
I might go on to collect a volume of opinions, going
to confirm the view which I have taken of the subject,
4
!^ nALElGII AND GASTON KAIL-HOAD COMPA1NT.
that the continuation of this road to Columbia, will
be made, and that it ivill be enormously profitable.
In addition to the facts, that it is the shortest possible
route between Augusta and Baltimore; that it traverses
the healthiest country in the world ; and that it passes
through the principal towns and cities East of the Alle-ghany,
is the important consideration, that no mode of
conveyance is comparable to that by rail-roads for safety.
It is not too much to say, that the loss of life by the
wreck of the Pulaski, was greater than that by all the
rail-roads in the world since their invention.
An accurate investigation was made some time during
the year LSSS, by Commissioners appointed by the Brit-ish
Parliament, of the number of passengers which had
passed over all the roads in Great Britain, and of the num-ber
of accidents that had happened. The result of their
labors was to ascertain that only ten passengers had been
Jsilled out of more than 44,000,000. The table append-ed
gives the details. It should be recollected, too, that
this includes the period of the infancy of the rail-road
system, when the danger was much greater than it now is.
Thus, it is evident, that safety, expedition, and econ-om}',
would all be consulted by the traveller, in taking
the Metropolitan line when finished.
All which is respectfully submitted.
CHAS. F. M. GARNETT, C. E,
To the President and Directors of the
Raleigh and Gaston R. R. Company,
RALEIGH AND GASTON RAIL-ROAD COMPANT, fill
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