The Camden journal. [volume] (Camden, S.C.) 1836-1851, 1850-01-12
From tie Columbia Telegraph.
LETTER FROM COL. GADSDEN

LIMA RAILROAD COMPANY.
Gentlemen On every ltverish excitement
in the Cotton market, which rushes onIhe in
terror termni of your road that product, beyond
The immediate ability of the ConTany's power
to pro,fLlbty transport, and within thc>bricf space
which would be desirable to the holders or ope-
rators in that staple, the Road is made the
theme OF some reproof-as not fulfilling It's obil.
CATIONS to the public. 1t may be difficult to de-
fine the public obligations imposed ny the char.
ter; but the Direction, in lis policy, have en-
dcavored TO recognize concurrent, u not supe
rior obligation which is due 10 the stuck.
holder.
AS many of you never attend the annual
meetings, and most Of you are represented ny
proxies. there is no medium hut through the
columns of the press, by which yoI can be ap.
preached; and this is my only apology tor avail.
ing myself Of its opportunities, to submit to your
consideration briet statement tor your JidS-
ments To &C, on. A sense of duty 10 the Com
pany, and not any desire to cxonerate the ad.
minisration of its affairs from charges which
idle rumor NAV hare carried to your ears, is the
only motive of this communication.
. In all the reports Of ofengineers connected with
the appeals made to individuals as inducements
to embark in railroad enterprises, the cost of
construction, and of motive and OF car power, Is
properly estimated as capital and the cacula.
lion of the amount of the latter which may be
necessary, is based on the probable annual bu.
siness of the Road. IT, however, it was stated
that the public would require that the entire
annual business which the Road might expect
to do, must be perfrmed in two or three months
instead Of twelve months, and that the charter
imposed an obligation to be provided tor these
short.lived emergencies, on every excitement
in the cotton market, we might well enquire
from what source could the capital necessary
for so hazardous and Improbable an enterprise
be raised! Yet such are tho assumptions oil
those who would impress on you the belief that
YOUR interests have been neglected, and the pub.
lie responsibilities Of the road have not been
fulfilled.
1t may be necessary here topremise that the
Cincinnati Company became the purchaser oi
the Hamburg Road; and that the stock in that
Company ia represented by debt, guaranteed
by the endorsement of the Stale, and not ny PrI.
vate stockholders. The capital paid by the
Cincinnati Company was exhausted in The con-
struction of the Road bed from Branchville 10
Columbia. No provision was made, and not
dollar was ever expended on motive or car
power. On tho consolidation ofthe two roads,
The motive power transferred with the Hamburg
Road was generalI, OF small class OF loco
motives, amounting to twentyto IN number
aud many of these were old. disabled, and par.
tally condemned. The car power consisted OF
l5s four. wheeled canvassed vehicles, and 55
box and patforms--lhe whole equivalent to
about 100 box and platforms of eight wheels
each. The Company now have in service about
As locomotives, the majority of which are OF
large class, and 800 box and platforms, which
by the lst Of January will number 400. The
whole oflhis additional power, Give locomotives
and lis freight and two passenger cars, which
have been added this year, at cost OF SILL.
OOO,) including the construction ot the Camden
Branch, the enlargement of drpots, &C., has
been provided from the revenue, and OH the
credi, of the Company. Mt one cent OF addi.
tional capital, which that expenditure should
rcpresen,, has ever been called for from Stock
holders.
This is mentioned merely TO show the re-
s,rc,ons under which your Direction have been
compelled to act, and the limited means at their
command Er the additional locomotive and car
force so repeatedly called for. Annually the
complaints, (again preva!enD OF dgfcieaces IN
both arc brought before the stockholders. They
hastily consider, and as hastily adjourn, with
the simple resolution instructing the Board to
provide the necessary means to transact the in
crcasinr business of the Road; without indi-
eating the sources from whence the requisite
sums to meet the expenditures are to be raised.
Credit and the Revenue are the only resort !;
and fthe Direction have been forced to in.
trench on both to meet obligations there was
no alternative. Now, has the duty to provide
for the transaction Of the Business OF tho Road
been fulfilled with a faithful regard to the Inte.
rests of the Company?
Performance is the only Test.
During the month of November just passed.
there was transported, with the power enume.
rated SO 357 bales of Cotton 9O5 OF Domes.
tics 3O3 of Waste; 6,396 bushels of Corn {;
1928 barrels of 'Turpentinc l0l head OF cat.
tie: LAO OF hogs; the whole in tonnage or
WEIGHT equivalent TO $4,000 bales of Cotton in
one month, The present power of tho Road,
therefore, is equal 10 the transportation ol the
entire crop of the State in four months. 1t the
Stockholders accord with the Cotton operators,
that the Company is bound to provide the means
to transpor, the whole in two months II they
require it, the work can be done, but it would
be at your cost 1t would involve an aPpropri.