Camden journal. [volume] (Camden, South-Carolina) 1852-1852, 1852-04-30

and Mobile shake off their slumbers and buckle
on their arnnor to elttet the lists, and 1t is well
known that almost all the additional freight or
travel that goes to Charleston, pays an increased
rate of profit to the South Carolina Railroad.
But it is useless to argue either the present pros
peritv or future prospects of this Railroad; the
STRONGEST proof of both is found in the fact that
sauacious men seek it as an investment, and that
it, is very difficult to procure, except IN very
small parcels and under peculiar circumstances
There is no doubt, asjfar as can learn, that
the town of Camden can retain this stock with
out any inconvenience, as long as it pleascs Ger
tainly long enough to realize par value for any
portion it may be deemed advisable to sell after
mature deliberation, unless the reckonings OF
business men are sadly incorrect; and that the
opinion of our own citizens, our own taxpayers,
is that the stock will continue to appreciate, is
evidenced by the fact that they do not sell their
,rivate investments in the Road. Our merchants
realize more than per cent on their business,
and if they believe that 90 per cent is the full
value Of the stock, why do they not sell out and
invest in their business | suppose that there
are few of them who have debts less pressing
than the debts of the town.
The town now pays but little over six per cent
per an. on her Indebtedness sale of the Railroad
stock would be equivalent to raising fund up
on a rate of interest of nearly eight per cent.
The stock (sl4,sO0) at per cent realizes an in
come Of SlOO,l. The proceeds of sale at
$50 per share (sl2,s7O would realize at the
same rate S9e0,9o. Does this look like a step
towards the reduction of taxes! 1t strikes me
that few more such "lucky hits" would put
II =. l.lk pofhipf, fo ro1xy on huf
taxation. ,... -rf..r+''
1t has been suggested that it would be we'll to
sell this stock and invest the proceeds in some
other improvement, to advance the interests OF
the town. If this were the object [ should not
object to the end but would most strenuously to
the means, as any company, either Plank Road
or Railroad, would be glad to take this stock as
subscription at par; but how can any one be-
leve that those who are striving to "reduce tax
atom can be induced to embark in new enter
prise, or that those who are willing to be taxed
for the good of the town will consent to be so
taxed with the anticipation that their interests
will be again sacrificed. But have done; with
all the past binding me to old Camden" l
have deemed it my right and my duty to say
this much, shall not be disappointed if the tor
rent be not stopped, but shall feel when the
evil hour comes, when we gather the fruits Il
our activity in this matter, of our supneness in
all else, aThou can'st not say, did it."
A NATIVE.
S. On referring to the last Report, find
that my statement of the affairs of the Railroad
is sufficiently accurate for the purpose the cap
ital and interest bearing debt are over s6o00,-
600, but the nett income Of last year is over
100000. The current expenses 99-7-l00 per
cent instead of 40 per cent and the surplus fund,
$35O,O00. r--g..