The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1855-08-18
The Lease of the Ohio and Mississippi
Railroad

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The Lease of the Ohio and Mississippi
Railroad.
This last stroke of policy on the part
of the "stage managers''of the Ohio
and Mississippi Railroad, which has been
very appropriately styled the 'climax
of the comedy of errors,' is most de-
cidedly worthy of public attention, and it
more especially claims the scrutiny of that
large body of honest men, whose money is
subscribed and paid for the purpose of build
ing railroads.
The execution of the aforesaid lease, to
Mr. jerks, under existing circumstances and
under the peculiar stipuIations of the con-
tract, strikes US AS being an ingeniously con-
trived attempt at Scltuylerism on a magni-
icent scale, though performed under the pre-
teDce and cover of legal and open business
transaction, in which the contracting parties
on behalf of the road. seem to be and to act
entirely in the interest of the said lessee,
Mr.. jerks.
We have repeatedly predicted, since the
reckless management of this road has been
developing itsef,that the entire original stock
would be absorbed before the road could be
relieved from the sinking incubus of its I'M
accountable construction account, but it was
scarcely supposahle that mercenary levi
athan would be found so soon, capacious
enough to swallow the "great six footer"
with all its dependencies dt single bite. The
history of this road is daily becoming more
and more sorrowiul to the stockholders, and
the business interests of the community it
was designed to subserve. While the pres
emit policy and management of the Directory
is calculated to cfea:e heart burnings and
hostility at home, the value, credit and repu-
tation of the road is suffering immensely
abroad. Few roads are capable of with
standing the shock which such state of
things must necessarily produce. Public
confidence, is en- element almostss essential
to the successful operation of raj Iroad as
the application of steam itself; but how is
1t possible to retain this sautary element
when the Directory recklessly destroy its
only bass-prvate confidence and unity oil
feeling and action at home! The disastrous
predicament in which this grent enterprise
has been studiously and deliberately placed
is but another illustration, (of which the
country has recently seen too muny,) where
honest and confding stockholders have been
betrayed by designing and dishonest fnan
cial managers, who kept the true condition
of affairs entrusted to them artfuy conceal
ed from the view of the real subscribers anC
supporters of the corporation.
The arch-fn ancier and villain, Schuyler
may have played stronger hand in hii
treachery to the corporation of which he wat
the head, but his deceit and duplicity was
not more perfect, nor his reckessress NOR
outrageous, than has been the mana gemen
of the destinies of the Ohio and Mississippi
road. The absolute necessity for stockhold
ers IN all great moned corporations, to fire.
quently examine into their atfairs, and re
quire their agents to give faithful aecoun
of their stewardship, is forcibly demonstrat
ed in the conduct of such operators as Pag
e. Bacon, Tuckerman and Schuyl Ter, and 70
the benefit of such corporations as have nc
yet reached the abyss of bankruptcy an
Observation-Disclosures expensive lessons of 9th
ers should teach them wisdom and watchfu
ness.