$sl, ,2a4 $43,sl5 sos 67s
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These receipts independent of the transportation by
tts river from the city to riedmont-the expenses aud
earnings of which kept entirely distinct from
those Of the Railroad. The indebtedness of the
Company amounts to sb97 O72, exclusive of $33,.
600 due for interest, making together the
Of $3.50 000 or this the holders Of $bo2,072
have either settled or agreed to settle the terms pro-
posed By the company have their debts secured the
personal property ofhe Companyn manner which will
occasion embarrassment to the operations of the road
The number Of Of the capital stock Of the compa
ny outstanding, is 1885, upon which there has
been paid the of 81 49s 5sa e5 On the 81 of April
last the Board Of Directors adopted resolution calling
for nstalmen to be aid before the goth Of May
following OF 1--WE dollars per share all the stock Of the
Company, whsreon payments already made did not ex-
esed fifteen dollars per share. under the penalty of for
teiturs Of said stock and Of all previous payments
provided in the charter of the Company In d.fsul Of
sonpiancs with that call 400 shares forfeited
upon which had been ads Of 296 90 The
ss this road have been wretchedly managed and the
OF the Company destroyed in every possible
The immense Of money squandered in the
earlier stages OF this work. and the little satisfaction the
stockholders obtain from every enquiry instituted de-
soysd all confidence in the Board of Directors and they
submitted to the loss Of all the payments made their
stock rather than pay up another dollar The last Board
Of Directors lar superior to the previous and
the Board just slested il the best yet and to this Board
the public look OF action that will tend TO sd
the real interests Of the stockholders without any
regard the creation Of speculative value of the stock
in the market. The financial sfairs Of the Company
have pretty thoroughly ovsrhsuled, and the ab-
tiesa reduced nuoh as possible. 1t becomes the
duty Of the present Board to look after the road for the
distance constr ucted as well az provide and
measures carry forward. The subsc crption books
of the Company opened last spring and the oopd
tions upon which subscriptions mad annexed


awe tho undersigned respectively Subscribe for the
number Of shares 81 tho ssp al stock Of the Y and
r. n. Co OF one hundred deas each. set opposite
within twsnty days after the closing of the books and
the subsequent insinents they shall be legally called
for, provided.


st That hena hde subscriptions subsequent 10 st Of
March and prior to st OF August 1884, shall amount to
the sum o six millions Of dollars.


"2i, That the instslments shall not exceed thirty.
three and oae-,hrd per cent per annum


"sd, That by the Individual acts Of ths holders OF At
la threeouhs Of the amount Of stock issued prior
the LIT OF March, is44 shall be legally established that
dividends when made shall be declared on the folio
basis;


ist That the right Of dividends on at least seventy
Ave par Of thu old stock shall be deferred until diy
dend Of six per cent shall be declared the stock


"2t, That when the net earnings shall exceed the
amount necessary pay such dividend to the stock
the shall be apprspriatsdto dividends on the old
"3i, That when dividends 80 declared on old stock
amsunt 10 six par csnt per snnum the old and stock
shall be put IN par and all distinctions between them
shall thereafter cease"


sevsrsl large capitalists put down their names for
twenty thousand dollars esch several for ten Thousand
and down. but the six millions required not
taken Confidence in those conducting the road had
become suc entity established, and many having capital
which they anxious to invest, were afraid to
forward and take the risk The standing, influence and
capital OF these gentlemen elected to the direction
msy create sufficient confidence in tho public mind to In
duce enough to forward and make up the amount
required we do not perceive among the list Of sub
scrbers hs names OF our largest real estate
Thsy veroom for those not quarter 10
deepl n their purses and build the road
There hat would be so much benefited BY
the road owners Of real estate in
this ling which II 10 the most difficult
thing tthem to advance dollar to per.
fcet Z rnsl improvement We trust the