| From the Raleigh Standard |
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| December 4, 1861 |
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| An Important Measure |
| Mr. Manning, of Chatham, has introduced
into the Convention an ordinance to facilitate the construction of a
Railroad from some point near this place, on the Central Railroad {North
Carolina RR}, to the coal fields in Chatham. This ordinance
reports the ??? section of an act of the Legislature passed in
February last, entitled an act incorporating the Chatham Railroad
company, and provides that all solvent corporations which may
subscribe to the stock of this company, shall be allowed to issue
their bonds, for the amount of their subscription, payable in six
years and bearing six per cent. interest. These bonds shall be
deposited with the Treasurer of the State, who shall then issue
Treasury notes of this State, payable in six years, and bearing six
per cent. interest to the corporations so subscribing and depositing
their bonds as aforesaid; said issue of Treasury notes not to exceed
$800,000. This is an important measure. We trust the Convention will
not adjourn without taking the necessary steps to connect the coal
fields with the Railroads of the State. |
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