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The Easley messenger. (Easley, S.C.) 1883-1891, February 01, 1884, Image 1

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Persistent link: http://chroniclingamerica.loc.gov/lccn/sn93067656/1884-02-01/ed-1/seq-1/

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Ti
The Eesle esson gr,
tru4 Nbe tv lorkh, the more it's shooh, it shines.
VOL. 1.] kASLEY, SOUTH 'AROLINA, FRIDAY, FEBRUARY 1 1884. [N. 17.
TO MY LOVED ONE.
Grieve not, darling, nor let slander
Darkly teach thee to suspect
This tender he'trt could ever wonud
Thy ~lMdnegs with negleet.
For all my love Is given to thee,
And this once wretched life
Is now devoted to the one
Who soon will bei my wife.
'T'hen bid -thy heart be not alarmed,
Nor let doubts distutrb thy love,
For beauty boasts no charm tbat could
One thought from the remnove,
A TRUNK LINE TO CHICAGO.
Ex-Governor Hiagood. Gives a HIstory
of the Carolina, Cumberland Gap
and Chicago Railway and Tells
How It Is to be Constructed.
The Aiken papers publish this
week an interesting interview with
ex-Governor Hlagood, president of
the Carolina, Cumberland Gap
ad Chicago Railway, in which he
gives a brief history of the enter
prise and explains its present con
dition.
In 1882 five duly (hartered rail
road corporations were consolida
ted under the name of the present
company, the object being to con
sruct a line of road from Aiken, in
this State, to London, Ky. The
stockholders of the consolidated
railway are the stockholders of the
original companies. A majority
of the stock is held in South Caro
lina, has been nearly all paid up,
and has been expended in surveys
and constructions in this State.
Of the 125 miles of the South Car
olina division of the railway, 59
miles are graded.
Gen. Ilagood says: At the time
of the consolidation a contract was
entered into with the Alantic add
North western onstruction Comn
panIy of New Jersey for the build
ing and equipment of the entE
line from Aiken to London, Ky.,
the Constructio Company to be
paid in bonds of the railway comn
p)any. But it was stipulated by
the Construction Company that it
should not be compelled to comn
menfce work until a coutmet was
made for the sale of the bonds of
the, railway company. It will be
seen that the construction of the
railway, either in whole or in part,
was thus maae to ,iepnd~ nti.,ly
upon the prior negotiation of the
sale of its bonds, and that the pro
ceeds of such sales were soley re
lied upon for the further prosecu
tion of the enterprise. A financial
agent was therefore at once ap
pointed and commissioned to un
dertake their negotiation. The
large amount of preliminary work
necessarily prevented his putting
his scheme upon the market until
the spring of 1883. He has been
in London since then engaged in
his work. During all this time the
market for railway securities has
been greatly depressed, and so con
tinues. The quotations of the
stock market daily exhibit this, and
it has been almost an impossibility
to induce capital to embark in any
new railway enterprise. The fi
nancial agent, however, reports
that lie has succeeded in attract
ing to his scheme the attention of
capitalist undoubtly able to float it,
that they are most favorably im-I
pressed and, in his judgement, it
is only necesasry to await the re
action in railway matters, which
must surely come, to realize a suc
cessful termination of his negotia
tions. Such was the condition of
afl'airs when the stockholders of the
C. C. G. and C. Ilailway ( ompa
ny recently held their first annual
meeting at Aiken. They realized
the unavoidable difficulties that
their financial agent had encount
ered and while adhering to the
policy pieviously adopted of rel3
ing chiefly upon a sale ot their
bonds for the further prosecution
of the enterprise, they determined
not to rely upon that solely. The'y
determined to again put their own
shoulders to the wheel, and by their
own efforts proceed with the work
while awaiting the negotiations i1
England. They argued that ad di
tional contribuntion of their means,
a'nd that to the full extent of their
ability, was the strongest addition
al argument that could be presen
ted to foreign capital to come their
aid. They determined to raise
money enough to finish the grad
ing and trestle and crosstie the road
from Aiken to the rnountains.. It
would certainly 'at the proper time
hasten the favorable conclusion of
our presenlt negotiations ; and If
these as inaugurated should fail,
we would have secured a b)etter
basis on which to renew them else
where. While to build the whole
line from Aiken to London was
beyond our means, it was thought
that to do so much as has been men
tioned was within our power, and
the result would be to put at least
one-third of the line in a condition
to be speedily operated tipon a
paying basis. A railway thus far
advanced by private contributions
and unencumbered by debt can
never fail to bond itself for enough
to complete its construction and
equipment Arcordingly it was re
solved to proeure the necissary
legislation to permit the company
to go before the people along the
line and, laying the whole matter
before them, invoke their aid. The
executitve c immittee were directed
to carry this resolution into effect.
They have procured an Act of the
Legislature permitting towns,
township and counties interested
in the road to subscribe by popular
vote to the capital stock of the
railway, and the movement is in
augurated in the election now a
hout. to be held in Aiken. After
wards we will go to other towns
and counties interested.
Gen. Ilagood, in regard to the
subscription the town of Aiken is
asked to make, says: So much of
the work has been done between
Aiken and Edgefield Courthouse
that Capt. Kirk, the engineer of
the railway, estimates that $30,000
will grade, trestle and crosstie to
latter point. If not another dollar
was subscribed, and her $30,000
was thus expended, Aiken would
thus'get assurance of a direct corn
inuuication with the Richmond and
Danville system, where we cross
their Charlotte, Columi.0 and Au
gusta roadl at Trreniton. Ilow
much this would benefit the town
in facilitating access to it by those
who so largly p~atr'onize it as a sani
itariuim, you can judge better than
I. Passing on beyond Trrenton and
reaching Edgefield, if' you stop
there you will open to your trade
a region of' country from which
you are now as effectually debarr
ed as if the C'harnlotte, Columibia
atnb Augusta RoadI, which crosses
the path, were a~ Chinese wall.
Bu-t we (do not propose to stop with
the Aiken subscription. We, as I
have already said, will go befbre
the people along the line , of th1e
whole South Qarolina division And
we have the assurance of the lead
ing men of every section we pass
through'-of men who knows the
popular sentiment of their see
tions-that the response Will be
liberal.
To make assurance doubly sure
with regard to the efficient appli
cation of such money as Aiken may
vote, Gen. Hagood has fild With
the inten(lant of the rown a paper
binding the railway company not to
use any part of the subscription
made by Aken until additional sub
scriptions to the amount at least of
$ 100,000 have been made to capita
stock of the railway company,work
cannot be commenced on the road
until the question of snbscribtioin
has been decided, which may not
be until the approaching summer,
but when the work does begin it.
will start at Aiken.
The policy of the road is to do
its work w ith free and not convict
labor.. In reply to a question as to
what will probaly be the value of
stock in the road, Gen. Ifagood
said: If the whole road is com
pleted connecting us wtth the trade
centres of the Northwest, it will be
shorter by about 170 miles than
any route to the Southern seaboard
now existing. It will also be a
road of easy grades, cheaply oper
ated. This onght to insure it a
profitable participation in the larga
through freights from that region.
The road will also run directly
(hrough the coal and mineral re
gious of Kentucky and Tennessee,
and receive a heavy freightage
thence. It also runs through the
valuable agricultural region tf the
French Broad country of North
Carolina. Entering South Caroli
na, it runs the manufacturing coun
try at the foot of tile ruountains,
and through the wealthy agricul
tural counties of Anderson, Abbe
ville and Edgefield--the last of
which by tile late census, is credit
ed with sending more cotton to
market than any other county in
thle State
Such I road should certainly pay.
We are however, now making the ef
fort to build the South Carolina divisionm
without having in sight, at this time,
mnoney enough to bnild the whole. We
proposN to'go at the con struction of the
(CONTINUED ON 2ND 'PAGE.]

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