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State of Alabama
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| Articles of agreement made and entered into
this first day of January in the year of our Lord Eighteen hundred and
Sixty-three, by and between the Alabama and Tennessee River Rail
Road Company, a body corporate of Said State, of the first part and the Confederate States of America
through the duly authorized Agent thereof Captain L{emuel}.
P{ratt}. Grant, of the
Corps of Engineers of the second part. Whereby it is covenanted and
agreed as follows: |
| The party of the first part covenant and
agree |
| 1st |
To commence immediately on the approval of this
contract by the Secretary of War of the Said Confederate States
and prosecute vigorously the work of grading, masonry bridging
and delivery of Cross Ties for a railroad between Blue Mountain
Said State and the state line in the direction of Rome, Georgia,
under the provisions of the act of the Congress of said
Confederate States entitled "An act to enable the President
of the Confederate States to provide for the means of Military
transportation by the construction of a Rail Road between Blue
Mountain in the State of Alabama and Rome in the State of
Georgia, approved October 1862." |
| 2d |
To proceed to lay the track of said Rail Road and
to complete the same in running order together with the
necessary Water Stations, depots and fixtures within the space
of time of ten months from the date of the commencement of the
delivery of iron rails, chairs & spikes, provided the iron
rails, chairs & spikes are furnished by the party of the
second part and delivered at Selma in the Said State or at the
state line as aforesaid or portions at each of said places and
provided also that should delay occur in the course of delivery
of the iron rails, chairs and spikes, by which the work of
tracklaying shall be retarded, the same shall work an equivalent
extension of time in which to complete said rail road. |
| 3d |
To receive the iron rails, chairs and spikes which
may be furnished as aforsaid, as a part of the loan mentioned in
said act of the Congress, rated at the following prices -- One
hundred and twenty five dollars per ton for iron rails. Twelve
and one half cents per pound for wrought iron chairs and spikes
and ten cents per pound for cast iron chairs. |
| 4th |
To execute a Mortgage on the rail road and
fixtures, franchise, land, and appurtenances connected with the
same, proposed to be constructed between Blue Mountain and the
state line as aforesaid to secure the repayment of the sum or
sums which may be advanced by the party of the second part, as
well as to secure the completion of said rail road according to
the true intent and spirit of this contract; giving to the
Secretary of War power in said Mortgage to foreclose the same
and sell said rail road, fixtures, franchise, lands and
appurtenances on failure of said party of the first part to
progress with the work according to the spirit of this Contract
or on failure to repay the said loan as herein after stipulated. |
| 5th |
To pay to the party of the second part interest on
the amount received at the rate of Eight per cent per annum from
the date of receipt; and to repay the principal and interest in
instalments of Seventy five thousand Dollars per annum; the
first instalment to be paid twelve months after the time
stipulated in this Contract for the completion of said rail
road. |
| 6th |
To give to the party of the second part the
preference in all transportation over said rail road during the
existing war. |
| 7th |
To give every necessary facility to the Engineer
who may be selected by the party of the second part for the
inspection of the work. |
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| In consideration of the foregoing
Covenants and in pursuance of the said act of the Congress, The
Confederate States of America party of the second part covenants and
agrees to loan to the party of the first part Two hundred & twenty
thousand dollars to be applied to the complete preparation of the
roadway of said rail road, including the delivery of Cross Ties from
Blue Mountain to the state line as aforesaid, and should the iron
rails, chairs, and spikes be supplied in the manner before mentioned
then to loan to said party of the first part the further sum of Forty
five thousand dollars to be applied to tracklaying, depots and
fixtures for the full completion of said rail road in running order. |
| And said loan will be made in instalments
at intervals of time of two months upon the certificate of the
inspecting Engineer of said party of the second part of the value or
proportion of work done, materials delivered, or in preparation for
delivery, and of provisions, forage, tools &c supplied -- and will
increase the first instalment beyond the amount certified by the
inspecting Engineer at the option of the Secretary of War on
satisfactory evidence being adduced by the said inspecting Engineer of
active and efficient preparations made by the party of the first part
for the vigorous prosecution of the work. |
| And the said loan shall be in bonds of the
Confederate States of America bearing interest at the rate of eight
per cent per annum from the date of delivery. |
| This Contract not to be binding on the
party of the second part until approved by the Secretary of War. |
| In testimony whereof the said party
of the first part under authority of its Board of Directors has
hereunto caused its corporate seal to be affixed. Attested by its
Secretary and the President of the same has subscribed his name
officially; and the said Confederate States of America have executed
this Contract on their part by the signature of their said
agent. |
| Done in quadruplicate in the City of Selma
on the day and year before written. |
| Tho. A. Walker Prest |
| of the Ala & Tenn. R. R. R. Co. |
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| Confederate States of America |
| By L. P. Grant Agent |
| Capt. Enger Provl Army |
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| Attest |
| A. M. Goodwin |
| Secretary {Alabama &
Tennessee Rivers RR} |
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