| From the Fayetteville (N. C.) Observer |
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| February 10, 1862 |
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| Important Railroad Movement |
| The Railroad Convention in Richmond last
week was attended by officers from 18 roads. It was resolved to
establish Rolling Mills, Machine Shops and Foundries, in each of four
divisions, viz: 1. Virginia; 2. North and South Carolina; 3. Georgia,
Florida Alabama and part of Tennessee; 4. Mississippi, Louisiana,
&c. The capital to be subscribed by the roads in each division;
the Presidents of the roads to locate the works and manage them as a
Board of Directors. If the roads fail to advance the capital, then
advances to be made to individual enterprises, upon condition that the
works shall furnish iron, &c. to the roads so advancing, at 50 per
cent. higher rates than were current in July 1860, until the close of
the war; and for three years afterwards at 30 per cent above cost. |
| It seems to us that the works for North
and South Carolina will almost of necessity be located here. The
mineral region of Deep River will supply the coal and iron, and this
place will be a nearer and better point than any other from which to
supply three-fourths of the roads in the division with the
manufactured articles, and to receive the old rails for re-rolling. We
shall doubtless soon hear more on the subject. |
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