Staunton vindicator and general advertiser. (Staunton, Augusta County, Va.) 1858-1860, 1858-03-06

as we, with great respect, believe un-
wise proceedings, had been the Eureka
of Railroad prosperity il Virginia. II
think of the rich revenues TO be derived
by our Virginia Railroads fron the shaw
ings Of free tickets and the parings Of the
toe nails Of officers. What is it estimated
viii be the percentage Of dividend from
such quarters, on our FIVE millions of out
lay-P-r-o-d-i-g-i-o-u-s So great that
Afr. Ellet's valuable thoughts on the proper
construction Of tariff, were completely O.
yershadowed by it. Yet, We very much in
cline to the opinion, that one single FIRE, or
one collision, the consequence of inexperi-
ccd or unfaithful officers, would damage the
Company more than the parings Of all the
salaries would remunerate, and that the
compliment Of an occasional free ride to
persons whose services had deserved it,
would conciliate on amount of kind feelin g
towards Company, worth more, even
when estimated in dollars and cents, than
all the free tickets, bestowed with a pru-
dent discretion, ten times told over. The
maxim on these subjects should be Justice
and Liberality, bat no extravaganza. Pay
literally to good officers nothing to bad
ones. This is enlightened economy.
But cur business is with tho tariff Mr.
Ellet saya, ard we fully belieue it, that it
is only BY proper adjustment Of that
that the very highest amount of clear rere-
nue. Is to be obtained This, Of course, is
what the Company dcsire---this is what the
State, in Der capacity as stakeholder, de-
sires---and, we venture to predict, that if
carried out on his plan, all will be satisfied,
because it's Justice will bo manifest to all.
Now, there is genaral sense Of oppression
and Of consequent discontent--a feeling as
if evory business man was in the grip Of g
powerful and soulless corporation, whose
highest interest was to crush him under
MONOPOLY conviction that there exists q
conflict of interest between the citizen and
the monopoly and, therefore, that hostility
must ensue. Is it not, then, Of the last
Importance to developc and act upon chat
beautiful idea of the most accomplished
Engineer Of the age---that the best interest
of the Company is the highest interest Of
the citizen THAT the most remuner stiye
tariff Of charges is that which the citizen
can always afford to pay, and which is ne
cessary, to keep up the work, and oncour-
age the. construction Of others 1.-THE
strong outside pressure from farmers and
others for reduction Of rates to standard
that would not be remuneratiye," would be
removed at once by this Olive branch of
peace. This Company is not one of those
which have carried for unremunerative pri-
ces. On the contrary, the proceedings Of
the stockholders, at their last meeting, show
their receipts over the cost Of carrying in
the year 1851, to have been very nearly fifty
fifty per cent. profit. True-the stockhold-
ers got no diyidend-not because handsome
profits were not realized, but because it was
the generous and praiseworthy policy Of the
Company, to lay out their profits in extend
ing the road. The necessity ofany further
application Of profits in that way has now
ceased, and tais year, the President and
Directors tell US the road will pay all the
expenses and clear $500, 900, from which
the stockholders will receive dividend Of
FIVE per cent. on tho whole stock, leaving
800, 0o0 to pay interest on the debt Ct the
Company, and a surplus Of near S28, 900 in
the treasury for sinking fund to pay of
the debt Of the Company. This is most
favorable condition for road not yet en-
tircly completed and still wanting its Gov
ington and Ohio connection, which must
prove, in few years, a most profitable
feeder
It labors now, too, under the disadvan-
tage of having penetrated, for considers
Tie distance, an unproductive country-not
unproductive, however, for lack Of fertility
or Of natural resources, but because its dis
lance fron, market left it uninhabited, and,
of course. unimproved. A few years Of fos-
terlng encouragement will greatly increase
its productions and exports, adding every
year to the profits Of the railroad The bus
mess now done On this road is nothing like
half what it has the capacity to do, either
in the carriage Of freight or of passengers
The freight carried both East and West last
year, was only 5o,9S tons in round num-
bcrs, and the passengers carried were 08,-
63S, both ways, Of whom only 3,7I7 were
through. all the rest were way passengers.
The total earnings Of last year were $780,
03o 50 cents; the total expenses Of trans
portation were S275, 1868 % -leaving q
clear profit of 1854, 367 ST, or about 40
per cent. profit on the whole business done.
Now, suppose BY reducing the charges Of
transportation, we could make the gross IN
come Of the road 81 ,00o, 600, which is less
thar, Gn1thla what II ia ,soyv ond laov-< ~ q