of Jgortji Carolina
From the Library of
William "vTorrell Vass
This book must not be taken
from the Library building.
... » .'I
f , * •
Digitized by the Internet Arcliive
in 2009 witli funding from
Ensuring Democracy tlirougli Digital Access (NC-LSTA)
FIRST Ai\I\XAL REPORT
:B;^1LIBI1(^L^ illi^ID (B-^gS?®^
PEBHUAIIY 6, 1837.
rRl>'TED nx J. GALES AXD SOX, OFFICE OF TUE nALEIGU IlECISTER.
FIRST ANNUAL MEETING OF THE STOCKHOLDERS
IlAZ.Xn:GH &. OASTON RAIL-ROAD C03M;PAN7.
At an Annual Meeting of the Stockholders of the Raleigh and Gaston
Rail-Road Compan\% held in the City of Raleigh, on Monday the 6th of
February, 1837, Col. W.m. Robauds was called to the Chair, and Edmund
B. FnEEMji>- appointed Secretary.
It being ascertained, that a majority of the stock was represented, the
Meeting proceeded to business.
The President submitted the Annual Reportof the Board of Directors,
together with a general account of the receipts and expenditures—which
were read and accepted.
The account was referred to a Committee of three, consisting of Wes-ton
R. Gales, William Peace and Philo White, Esqrs.
The following Resolutions were unanimously adopted
Resolved, as the opinion of the Stockholders here present, that the pro-position
of uniting this Company with the Raleigh and Columbia Rail-
Road, be respectfully recommended to the consideration of the absent Stock*
holders, with a view to some action thereon at the next Annual Meeting.
Resolved, That the President and Directors be authorized to take any
measures, which they may deem proper and expedient, consistent with oar
Charter, to aid in the organization of the Raleigh and Columbia Rail-Koad
The Meeting then proceeded to the election of a President and fiv«
Directors, whem GEO. W. MORDECAI was re-elected President, and
Wm. Boxlan, Duhc^N Camdrojt, Thomas P. Dzvxbiuj, Josrps W.
HAWftijfj and CuAs. >lA?>i.ir were re-elected Directors, for tb© ensuing yeif.
4 RALEIGH AND GASTON KAIL-IIOAD COMPAXY.
The Committee appointed to investigate the Accounts, made their Re-port
to an adjourned Meeting, held on the 7th of February.
On motion, five hundred copies of the President's Report, together with
the Account and Report of the Committee thereon, were ordered to be
Ordered, That the next Annual Meeting be held on tlio fourth Mon-day
in January next.
The Meeting then adjourned.
WM. ROBARDS, ChaV.
PRESI»E]\T AND DIRECTOKS.
The President and Directors of the Raleigh and Gaston Kail Road
Company, in conformity with the provisions of the Act of Incorporation,
submit to the Stockholders the following Report
It is known to the Stockholders, that the confidence of the public in
the success of this work, was such as to cause at the first opening of the
books, a subscription largely exceeding the amount required to organize the
Company, 5589 Shares of Stock having been then subscribed, on which tlie
firstinstalment of two dolls, per Share, amounting to $11,178 was punctually
paid. Soon after the organization of the Company in February last, the
Hoard met and appointed Thos. P. Devereux Esq. President jsro iein. the
President elect being then absent from the State, and at the same time con-ferred
the appointment of Chief Engineer, upon Mr. Chas. F. M. Gakxf.tt,
a gentleman who came highly recommended to them by those interested in
the several Richmond and Petersburg Rail Roads, in whose service he had
been for some time employed, and where he had discharged his duties en-tirely
to their satisfaction. For his services in this capacity, the Board al-lowed
him a salary of three thousand dollars per annum. It was .ilso thought
expedient in the infancy of a work of this kind in our State, and vcith the
limited information possessed by us on the subject, to secure the services of
an experienced and capable person, as Consulting Engineer, particularly as
this course had been generally adopted in other places. This appointment,
the Board did not hesitate to confer on Mosiuke Rosixsox E.-q. whose rep-
RALEIOn AXU GASrOX IIAIL-UOAD COMl'AXT. :>
utntion ns an Engineer, is sccoiicl perhaps to none in the Union, wlio had
been long engaged on Southern Rail Roads, and to whom they arc indebted
for many valuable improvements, in the mode of construction. As the
services of this gentleman were deemed of great importance in the com-mencement
of the work, particularly in organizing a competent Corps of
Engineers, and could not be expected to be secured for any small compen-sation,
the Board determined to fix his salary also at three thousand dollars.
After the organization of the Engineer Corps, the first object for the
consideration of the board was tlie selection of a suitable route for the loca-tion
of the Road.
Three routes were suggested—the one a direct line from Gaston, pass-ing
to the Southeast of Warrenton, through or near Louisburg to Raleigh,
estimated to be seventy-five miles in length. Another leading through the
upper part of Halifax and Nash counties, crossing the Neusc near Hinton's
Bridge, and thence to Raleigh. The third following the dividing ridge be-tween
the waters of the Roanolce and Tar Rivers, running through the up-per
part of Warren and near the dividing line between Franklin and Gran-ville,
to Raleigh. The distance from Gaston to Raleigh by either ol the two
latter routes, is nearly the same, and is estimated to be eighty five miles.
To the first or direct route, so many obstacles presented, arising from
the unevenness of the country to be traversed, and the number of water
courses intersecting it, which would require to be passed at a vast expense,
and one which was believed to be far beyond the means of the Company,
that it was at once abandoned.
The Engineer was then directed to make careful reconnoisanccs of
C'.ch of the other two routes, and report the result of his examination to the
This was accordingly done, and his report, which is herewith submitted,
induced the board to adopt the third, or what is conmionly known as the
Chalk level route. The reasons which mainly influenced them to give this
the preference, were the following : After ascending from the Roanoke at
Gaston, for which a very advantageous location was found just above
Wilkins' Ferry, and in a directly continuous line vs'ith the Greensville and
Roanoke Road, and where the ascent can be overcome by a grade of si.xty
three feet to the mile, for a little more than two miles, we attain the sum-mit
of a ridge, which presents a singular feature in the character of a coun-tv,
elsewhere so broken and uneven. Passing by Littleton, in the lower
part of Warren, this ridge, wliich divides the waters of the Roanoke from
those of the Tar, presents for forty miles a surface unparalleled in any of
6 nALEIGH'*!fxr> GASTON RAIL-ROAD COMPANY.
our upper or miJclIc regions, for its uniform evenness, not being for many
miles intersected by the smallest stream, heading the two Fishing Creeks,
Sandy Creek, and several water courses of minor importance, which must
necessarily have been encountered on either of the otlier routes, and there-by
not only avoiding the rough country contiguous to those streams, but
greatly diminishing the expense of bridge building, which forms no incon-siderable
item in the construction of Rail Roads. "With the exception of
the grade already mentioned at the Roanoke, which it may be proper
to observe, is in the descent of the heavy trade, and three other grades of
about 39 feet to the mile, no other part of the located line exceeds a gradu-ation
of thirty feet to the mile. There are but few curves and the slrortcst
radius used is nineteen hundred feet, which oflcrs little or no obstacle to the
operation of locomotives, ajid is attended with no danger. By this route, it
will also be perceived, the distance is increased only about ten miles
which, when wc take into consideration, the great savuig of expense before
referred to, if not of itself a sufficient reason for giving this route the pre-ference,
an additional inducement with the Board was the great extent of
fertile country vvliich is intersected by and lies contiguous to it, and which
wc doubt not, will furnish a large proportion of the produce that will be
transported along our Road. This, if cither of the other routes had been se-lected,
would have found its way to market either down tlie Roanoke River
or in wagons to Blakely, Gaston, or some other more convenient point of
the Roads leading to Petersburg, and we should have been thereby deprived
of the benefit arising from its transportation. Indeed we may venture to say,
that the revenue arising from the transportation of the Tobacco, Cotton^
Wheat, Flour and other products of the fertile counties of Warren, Frank-lin,
Granville, Orange and Person, when forty miles of the Road shall be
completed to Chalk Level, will, with the travelling which may be reasona-bly
calculated upon, be of itself sufl^icient to yield to the Stockholders a
handsome dividend on the whole amount of the Capital subscribed. By
selecting this route, the Tar and Ncusc Rivers will be crossed at points
much higher up, and where their beds are not so much depressed below the
general level of the country, and great expense will be thereby saved ip
crossing them. These considerations induced the Board without hesitation
to give this route the preference, and tlie Engineer was accordingly direct-ed
to proceed as expeditiously as possible, in tlic location of the Road along
this line as far as the Tar River. This has been done ; and, as
far a53 the Board arc capable of judging, from their knowledge of
the country and the profite of the Road, tlic location has been judiciously
RAI-KIGII AKD CASTOX nATT.-nOAT) vTOMPANY. 7
made, and it has also met the spprobalion of tlie Consulting Encfineor. In
the execution of this duty, two parties of Engineers were employed, the
one in ex.iminina: and improving the experimental lines originally run,
whenever it was deemed requisite, tlie other following and locating upon
such lines as were most approved. For the more particular information of
the Stockholders, it may be proper to state, that the line crosses Roanoko
Kiver about six hundred yards above Wilkins' Ferry, thence to Littleton, a
distance of nine miles. After attaining the ridgo near Littleton, it continues
along it, with but slight deflections, running by Shearin's Store, Rotlwell's
^ Roads, the Chesnut Oak, about two miles north of Warrenton, to Pas-chall's
(nowTwitty's,) thence passing near Dr. Hawkins' to the Chalk level,
it crosses the Tar just above Chavis' ford. The remainder of the route is
as yet undetermined, and the Engineers are now engaged in examining the
country between Tar river and Raleigh for the purpose of ascertaining tha
cheapest and most advantageous one.
So soon as the portion of the Road from the Roanoke to the Chalk
level was satisfactorily located, it was deemed advisable that it should he
at once placed under contract. The Engineer was then directed to let it
out, and it is gratifying to state, that notwithstanding the increased price of
labor and provisions, the whole located line has been put under contract, on
terms not exceeding ten thousand dollars per mile, including the cost of the
Gaston Bridge. Most of the contractors are now busily engaged on their
respective sections. They are generally men of experience and skill, which
gives us every reasonable assurance of their prosecuting the work with en-ergy
and despatch. In consequence of the immense emigration from this
country to the west and south west, there has been some difficulty in pro-curing
the desired number of laborers. Nearly seven hundred are however
already employed, and most of the contractors are supplied. Ifwe can suc^
ceed in procuring a few more than are now engaged on the work, we may
calculate with much certainty on getting the first forty miles of the Road
in operation by an early period of the next year, to effect wliich the most
strenuous efforts will be made by the Officers of the Company.
As some reluctance was manifested by the o'vvners of slaves to rely for
the payment of their hire, entirely upon the responsibility of the individual
contractors, to remove this difficulty and to secure the largest possible num-ber
of hands, it was thought advisable to give the security of tlie Compan}-,
for the hire of slaves, whenever it was desired. By retaining from the
monthly pay of the contractors a sum sufficient to idemnify us against this
securityship, no risk is incurred by the Company.
8 nALEIOn AXD CASTOX RAIL-nOAD COMPANY.
The briJge at Gaston lias been commcnrcu, and three of the piers, to-gethcfr
with one of the abutments, arc above water. If the inclemency of
the season or freshets in the River hIiouUI not prevent, there is every pvof-pect
of all the piers and abutments being completed in the course of the
Spring. The timber has been contracted for on favorable terms, and a part
of it already delivered. A contract has also been made for the superstructure,
and there is little doubt of its completion during the present year ; so far as
an estimate of its cost can now be made, it will probably not exceed forty
thousand dollars. Contracts have been made on the greater part of the,
located line, for sills ; and many of the contractors have already fulfilled
their engagements. The sills are required to be ol' post or white oak, that
being ascertained to be the most durable and suitable timber for this pur-pose.
Several contracts have likewise been made for rails ; but on the
sections nearest the River, some difficulty has occurred in procuring them>
owing to the great scarcity of suitable timber. Along a considerable por-tion
of the Road, tlie owners of land, through which it passed, did not
hesitate to relinquish the right of way, satisfied that the benefit to be derived
from the Road would much more than compensate them for the slight
injury they might sustain ; but in the county of Halifax and the lower part
of Warren, wc regret to say, there was but little liberality evinced by the
land-holders. Proceedings have been instituted in these counties, for the
purpose of having the land condemned, according to the provisions of the
Charter, On some of the petitions, the Commissioners have acted; but
ps their reports have not yet been confirmed by the Courts, and as there arc
many cases which have not j'et been submitted, we cannot ascertain what
will be the amount of Land damages. Private contracts have been made
wherever it was found practicable ; but there were some persons so obsti-nate
or unreasonable that it was found impossible to contract with them.
A ditficulty which arose between the Company and Mr. Wilkins, the
owner of the land and Ferry at Gaston, has been amicably adjusted. The
parties, finding it impracticable to agree between themselves on the amount
of damages which Mr. Wilkins was entitled to receive, agreed to refer the
matter to arbitration. Highly respectable and intelligent gentlemen were
selected for this pui'pose, and after several unsuccessful attempts to procure
a meeting, it was at length finally determined, on the 16th day of January
last, by awarding to Mr. Wilkins four thousand five hundred dollars as a
full compensation for the value ©f so much of his land as might be required
for the purposes of the Road, and for any damage or injury he might sus-tain
in the value of his Forrv, by the erection of Ihc bridge.
nALEIGH AND GASTOX RAIL-ROAD COMPANY. 9
At a meeting of the Board of Directors, which was held on the 27th
ef February last, it was detennined by them to increase the amount of stock,
and books of subscription were directed to be opened at Raleigh,Warrenton,
Gaston and Petersburg, for one thousand additional Shares. Such was
the disposition to invest in this Stock, that, on closing the books, it was as-certained
that instead of one thousand, the additional subscription amount-ed
to fourteen hundred and twenty four Shares, on which the instalment
of two dollars per Share, amounting to $2,848, was paid at the time of subr
scribing. As it was believed that more than this amount would be eventu-ally
required to complete the work, and scaling was an operation attended
with some trouble, and likely to give dissatisfaction to the subscribers, the
Board at their next meeting, determined to receive the whole amount sub-scribed,
so that the present Capital of the Company amounts to seven thou-sand
and thirteen Shares—within nine hundred and eighty seven of the
original Capital authorized by the Charter.
Some difficulty being likely to occur in procuring Rail-Road Iron in
time for the first portion of the Road, on account of the increased demand
for that article, arrangements were made at an early period, with the house
of Maury, Latham & Co. of Liverpool, for the purchase of a moderate quan-tity,
and a remittance of six thousand dollars was made to them ; but it
was subsequently thought proper to make arrangements to procure the Iron
through Messrs. A. &, G. Ralston of Philadelphia. The principal induce-ment
for employing the latter gentlemen, was, that they are almost exclu-sively
engaged in the importation of Rail-Road Iron and Machinery, and
have a competent agent in England to inspect the Iron as it comes from
the works ; thus avoiding any loss by inferior or defective Iron. To these
gentlemen, remittances have been made to the amount of thirty five thou-band
dollars, on which interest is allowed by them until the funds shall be
invested. For the purpose of defraying the expenses of Surveys, and ma-king
remittances for Iron, an instalment of eight per cent, was called for
by the Board, to be paid on the first day of August 1836, and it is grati-fying
to state that there were but two delinquent subscribers on our list ; one
of tliese for ten Shares died before the instalment became due, but the in-stalments
on this Stock will soon be paid ; the other, a subscriber for one
Share, left the State soon after subsciibing and has not since been heard
For the purpose of meeting the expenses of the Road, which are ex-pectcd
to be heavy during the present year, believing this to be a favorable
period to call for instalments, a requisition of ten dollars per Share, to be
iO RALEIGH AND GA8T0X RAIL-ROAD COMPANT.
paid ©n the first of January, and another for a like amount, on the first of
March, was made ; and, at the same time, it was resolved by the Board,
to allow interest on all anticipated payments, while interest was directed to
be charged on all those which might be deferred. Many Stockholders have
availed themselves of the privilege, and the amount of the January instal-ment,
together with the anticipated payments up to the first of February, i«
•eventy eight thousand, five hundred and ninety nine dollars and fifty
An arrangement has been made for the running of a line of Stages
from Gaston via Warrenton, Louisburg and Raleigh to Faycttcville, there
to connect with the main Southern line. This is believed to be highly ad-viintageous
to the Company, as this line will connect with the Rail-Road
as soon as any portion of it may be completed, and will commence run-ning
to and from Gaston probably in next month when the Greensville and
Roanoke Road will reach that termination. Arrangements have likewise
been made whereby locomotives and cars, for the transportation of passen-gers
and freight, will be placed upon the Road, so soon as the completion
of the bridge at Gaston, and any portion of the Road, shall justify it ; but as
experience has shown that the winter's frost tends very materially to settle
the embankments, which may have been thrown up during the sunuuer
and fall months, whereby the inequality of the surface and considerable ex-pense
in levelling the Road may be avoided, a due regard to the interest of
the Stockholders, and the permanancy of the work, may induce us to fore-go
any immediate benefit, which might be derived from laying down the
rails during the winter months, and to postpone putting the Road in opcr-ation
until the succeeding spring.
During the past session of the Legislature, a Charter was obtained for
the construction of a Road from Raleigh to the South-Carolina line, in ih?:
direction of Columbia, and we have no doubt that at the next session of the
Legislature of that State, a Company will be incorporated for the further
extension pf it to Columbia, where it will unite with the great Charlcstoi\
and Cinciimati Road, and thus complete the line of Rail-Road comnuniicn-lion
between New-York and Charleston, along what is knovt-n as the I^Te-tropolitan
route. We look upon this as a matter of vast importance, not
only to the Stockholders of this Road, to whose patronage we earnestly
recommend it, but to the whole community, as travellers Nortli and South
will thus be relieved from the danger and uncertainty attending a voNa;;.'
by sea on our dangerous const. It mny be wordiy tlie consideration of the
slockJioldcrs, ^,h^;•thcr it would not be politic and advance the interest of all
HALEIGH ANB GASTOX RAIL-ROAO QOMPANT. II
ronccrncd, that these two Koads, to-wit, the Raleigh and Gaston. aiiJ ths
Raleigh and Columbia, be eventually consolidated.
An effort was made during the last Session of our liegi.shiturc, to pro-cure
a subscription of $200,000 on the part of the Stat&, to our Rail-Koftd,
which was unsuccessful.
Since the last Meeting of the Stockholders, one of the Directors tlirii
appointed, W>r. Pn-MXtn, Esq. of Warrenton, has sent in liis resignation,
which was reluctantly accepted, and the vacancy supplied by the appoints
ment of DrxcAX Ciiwrirox, Esq.
A detailed Statement of the Keceipts and Expenditures of tlie Com-pany
during the last year, is herewith submitted. Vouchers for tii'-. expen-ditures
arc on file, and subject to the investigation of tlie Stockholders, to
whom any explanations required will be readily given.
It was not to be expected, with the limited knowledge and exprri^nco
possessed bj- your President in matters of this kind, that the affairs of the
Company should have been as judiciously managed, as if they had been en-trusted
to some one of greater skill. Indeed, he has been throughout sen-sible
of his inadequacy to the discharge of the duties of an office, whicli has
been conferred upon him, more through the kindness and partiaUty of his
friends, than from his own deserts. He has, however, used every effort to
procure information on the important matters entrusted to him ; and so far
as his unremitted attention can contribute towards a speedy and faithful
execution of the work, he fc>«ls no hesitation in assuring the Stockholders
tliat it shall be constantly devoted to their interests.
By order of the Board of Director?,
TIALEIGH AND GASTON RATL-ROAD COMPANY.
Amount of Cash received on account of the 1st
Instahneiit of 2 per cent, on 7013 shares,
Ditto on account of the accoud laatajnicnt of
8 per cent, on 7002 shares,
Ditto on account of the third and future In-stalments
to (he first day of Feb. 1837,
Ditto on account of interest on deferred jmy-ments,
and other sources,
Total amount of Receipts to Feb. 1, 1837.
Amount exi)ended on account of Surveys,
" Land Damages, ... " Horses, &c. .... " Excavation and Embankment, -
'• Superstructure, ... " Masonry, - . - .
" Salaries to Oflicers, Engineers, &c.
" Contingent expenses,
" (taston Bridge, ...
•' Kcmitted for the purchase of Iron,
" Interest on anticipated payments,
" Premiums on funds remitted,
" In the hands of Engineer, and unac-counted
Total amount of Expenditures, -
Leaving on hand an unexpended balance of
Feb. B, 1S3T.
17,082 7 7
Yorn Committee, who were charged with an examination of the
Keccipts and Disbursemontg of this Corporation during the past year, hav-ing
jicrformed tlie duty assigned them, beg leave to
comparison of the vouch-lind
that tiic accounts
dent of the Company to
it further to remark, that
ns of tlie Company have
•s resources managed with
Click tabs to swap between content that is broken into logical sections.