NP, FO 3/28/1861

From the Fayetteville (N. C.) Observer
 
March 28, 1861
 
The Western Railroad
   We copy the following concluding paragraphs of the able Report of the President and directors to the late Annual Meeting:
   In accordance with a resolution passed at the last annual meeting, application was made to the late Legislature for aid to complete the road to a point beyond Deep River, and to extend it to the N. C. Road.
   By the untiring efforts of our Senator and Members, aided by the efforts of the Senator and Members from Randolph and the adjoining counties, and by the cooperation of other works which wanted aid, we succeeded in getting the Bill which is herewith submitted, and which we recommend to be accepted as an amendment to the charter of the Company.
   The provision in the bill of $200,000 for the Eastern division will take the Road across Deep River, and put us in immediate connection with the Egypt and Taylor Coal properties. It will also enable us to make the necessary approaches to the river at this place, and give us as much rolling stock and machinery as will be necessary for the present. Steps are being taken to put the work on this division under contract.
   The State aid for the Western division is dependent on the iron being made in the State. The Board are of the opinion that it can and will be made, and that too in a very short time. Several parties are now looking into the matter, and the President of the Wilmington, Charlotte & Rutherford Road assures us of his hearty co-operation. That Road will want in the next two or three years eight or nine thousand tons of Iron, and they are willing to contract for it now, at a fair price. A contract from them for even four thousand tons, with the two or three thousand tons we will want, will, feel confident, insure the erection of Furnaces and Rolling Mills. A more inviting field for enterprise and capital cannot be found; with all the raw material convenient and cheap, and a contract of a half million of dollars with companies of ample means, success is certain. Then on the completion of our road to the N. C. Road, the works will be put in connection with all the roads of the State; the Western Extension will want at least 10,000 tons, and the Chatham road four or five, to say nothing of other roads, making in all of new Iron that will be wanted in the next four or five years some 25,000 tons; in addition to this, there will be from this time forth, a continual demand for re-rolling from all the Roads in the State. The iron from some of our roads is now being shipped to Pennsylvania to be re-rolled; the freight alone on this would afford a handsome profit to a mill at home. After supplying the home demand, the iron from Deep River can seek the markets of the world and compete successfully with the product of any other place or country. With every variety of ore in close proximity with each other, and with the best of bituminous coal, surrounded by virgin forests and in the centre of a fine agricultural district, with soap stone, sand stone, and every variety of clay in the immediate vicinity, with water power unlimited, and with only 40 miles of Rail Road to free navigation; what other element can be wanted for the production of good and cheap iron? Surely if there is gold in any iron it must be in that of the Deep River region.
   This heretofore shut up region is now opened by our Road; if capital and enterprise will now come in, coal and steam and iron will do for us what they have never failed to do for others, who had them and used them.
   The Road complete is 41 1/2 miles in length, cost $831,495.38, equal to $20,000 per mile. The highest grade this way is 31 feet to a mile.

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