Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1847-08-06
tut NC 1SN4"I7.
A NEW WAY TO MAKE MONEY.
"Now set your foot on shore
:, ,,ora o.Ix. haze - The rirh Perm
In moro orbt; here the rich Peru,
Aud there within, sir, are the golden mines
Bsa JorsoR

And there Within sir, are the golden Mines
Ben. .JorsoR.
Messrs. Editors: The newspapers have Tor
some lime been full Of reports, that certain Yam
KEGS have bought, and are about 10 revive, The old
broken.down Portsmouth Railroad have Tor
some time been puzzling my brains TO find out
why such cute people as The Yankees are al
lowed 10 be, should come all the wayto this Slate
10 make snch purchase, and what bench, they
expect TO derive from il. II is notorious here that
the old road was The cheapest and best built road
in the State, and that during The principal Part
OF its existence, il was managed by as able men
as ever had charge Of railfoad and yel Il died
in their hands Now, all this proves that II had
not business enough TO sustain il; and as there
is no greater prospect OF business now Than there
was before, what Go the Bostonians expect 10
make out Of i'll
This has for some lime been pu2zing ques-
tion-but friend who has passed some years in
the North, and has had occasion 10 study such
things, has given ME some hints which have
thrown a food OF light on il, and will, think, &C
count Tor The eagerness with which, learn, the
Bos.onians have snapped up this Portsmouth
wings out OF what they intend 10 do about ex-
tending il through North Carolina
As The scheme which have figured out is cal
lators, al The expense Of a coed many honest and
we'll meaning people, both here and abroad,
think it we'll 10 publish it, for the purpose OF put
ting them on their guard against il. II am
wrong in my calculations, il will no doub! be
easy Tor the friends of the scheme 10 show II, and
10 satisfy those whom they ask 10 embark IN H.
that they can MAKE money out OF II also.
NV friend informed me that nearly all the rail-
roads about Boston have been successful and are
making money, while those in other places are
doing badly, or al least mol paying dividends :
This has created an impression in The North thai
The success OF The New England roads is owing
10 their good management, and lha' all that Is
necessary 10 make the others do well, IS lof ihs
Yankees TO take hold Of them. Some Boston &c.
muses. have availed themselves OF this idea, and
purchased largely into The railroads about Phi
iadelphia, and have already made good deal o.
money By The advance in their stocks; Others
have bought whole roads in some paris al The
West, and have made money ALSO OF i, IS said
they will do il.
Now lei rs apply these hints 10 the case II
question. | learn that the parties who have puI
chased The Portsmouth, road get il Tor S5O, 00u
PAYABLE in !, aud years. learn also ihat 'nel
intend 10 raise a company with capital Of : /,
OO0,0O0 10 improve the road, which, il is given on
is 10 be done in The most permanent manner.
learn also that one of the inducements which i
to be held ont 10 persons 10 lake stock, IS that INT
company will pay per cent interest until TIT
profits enable them 10 pay more. WIN lhis pro
mise and the prospect Of The road being continue,
Caro,ina agog aboni) and various ornrl' n,a,as,l
good business 10 be done oil il togelh her with tn
panacea Of Yankee management, they can pu
their scheme in market and may be able 10 dis
pose OF at ieas, half their stock a. par--ior o
course they will mol have great deal OF such ;
valuable stock 10 dispose oil. For example
learn that only 100000 can be spared lor Nor
folk aud Portsmouth.
Now. MIR. Editor, | understand that such
track as that Of The Richmond ndlFredeiicksbur:
Company-which you know is as good as AMI
road-can be laid from Portsmouth 10 Weldon
and stocked with the proper complement Of en-
gnes and cars Tor 100000, and that track o
good edge or iron rails, such as you will see OF
The Richmond and Petersburg Railroad bridge
can be built there for about 5000 C0. They
would, therefore, only have 10 part with abou
halt their stock 10 raise money enough 10 star
The road again. If they should follow our South
ern plan Of making railroads. they would no
have TO sell so much. as they could 60 in debt 10
about halt the cost Of rebuilding The road. Blu
half the amount oil stock will start The Toat
and The other halt will Of course belong 10 them
end all that il will Cost them is The $50 600
which they have 10 pay Tor the old road But j
will no, really cost this much. | am told tina
there is al least $40 600 worth oil old iron on the Of,
road, which OF course will not he used in The new
one, and that will pay SO much towards the cos
OF their sock. Hall years interest on ,hi,
stock, which they must receive according 10 the olC
terms Of subscription (made BY lhemselves) vii
be more than sufficient 10 pay the balance; 50 a
the end Of six months their stock may cost them
literally nothing nothing, but their outlay ola
Dor and ingenuity, which they could afford to ex
pend very freely, Tor such rich reward as they
will be able 10 reap on, OF this stock.
Now, il will not be necessary for them TO wait
until lie road is finished, 10 reap this reward
With the amount oil putting which their scheme
has already had, and with The greater amour, il
will have as progresses, together with thr more
solid advantage OF paying per cent interest, il
would be poor business if they could not sell
out a, any time for al least SO per cent, and that
would enable Them 10 clear S250,00O. II they
were 10 sell as low as $50 per share they wond
make 100000. II they were not 10 sell al all
and hold on until The road went down again, they
would clear al least the last sum by their share Of
the old rcn.
If am correct in these ideas and deductions,
the parties interested in this scheme cannot lose
any thing but their time and labor, and they may
make from 100000 TO 100000 in 10 IL
months; speculation which, take il, will &C
count for any easeTness they may have shown
in taking hold Of it, or may show in carrying il
out and for all The noise made or making in Vir-
gnia and North Carolina about il.
Now, Mr. Editor, don't say that this is the
scheme OF The parties who have purchased The
Portsmouth road, bur l don't see in what ether
way they can make money out OF il; and il they
will look into The business done on the old road
they will see it themselves. D.
For tie Enquirer.