Delaware State journal and statesman., 1865-12-22
10 mmuuicAied.
OUli RAILROADS.
H.

wrote youa few days since calling tho
attention of your readers TO the history of
the Delaware Railroad, and laying special
stress upon the fact, that, beginning in en-
harrassment, and always struggling under
the incubus of an insufficient stock subscrip.
ton, it has nevertheless, answered the expec
taiions of its projectors in the wonderful i'm
petus it has given to improvement within
the state, and has far surpassed them in its
pecunary results. II any one engaged in
soliciting subscriptions of stock from the
citizens of Wilmington for the Delaware
r. r., had gravely assured us that he thought
il would pug, | suppose his chances of being
thought an honest man, would not have
been increased 1t has not indeed paid 10
per cent dividends, like the Pcnna. Central
r. r., but it has been on the whole most
remarkable financial success. Indeed the
history Of these two Roads il sufficient TO
show the truth of the remark made in my
presence by an eminent r. II. Engineer
"the people have not yet begun to realize
the profits of Railroads" The trouble has
been, not that the receipts were not sufficient.
or equal to the expectations of the builders,
hut, that the Capital has been wasted in
fhdncterfng arrangements, and business
which with ordinary prudence and good
management would have proved amply re-
muneratiye, could not pay, ON a basis of cost
such as most Of the r. r. Companies in this
country have heaped up. Let us hope that
the din pf uuol avtf
by, and that we shall not see again, the
spectacle Of r. r. corporation commencing
operations with an insufficient capital in
stock-the whole of which must be hereafter
sacrificed to purchase the additional aid of
Bondaolders, Preferred Stockholders, and
others who profit by the stockholders loss.
To return for moment to the Delaware
Railroad, and its affairs; the extension OF the
Road now in progress from Salisbury to An.
namessix, and the arrangements already
made for placing line of steamers on the
route to Norfolk, seems to me matter Of in.
terest and importance TO the people of Will
mngton, which has not as yet been ono half
| appreciated. Thanks to tho energy and
good management of the gentlemen who have
taken hold of this business - prominent
among whom is our entcrprising fellow. citi.
zen, Samuel Harlan, Jr-not many months
will clapse before We shall bo brought into
direct connection with Norfolk and its Rail.
roads and the whole region of which il is tho
distributing point, including the grain, tobac-
co, cotton, turpentine and lumber producing
districts of Virginia and North Carolina
Will this extension of our Railroad facilities
not be benefit TO the trade Of our city, fur.
nish an outlet for its manufacturers of ma
chinery, iron, leather, carriages, &c, and
bring the products of that region to our doors
in the way of trade? Besides, tho Peninsulai
r. r. thus becomes part of a great nationa
highway between North and South, and oui
city half way house and stopping place fo
its travel
There is also branch OF the Delaware r
r. from Smyrna through Easton to Oxford
Md, which has recently been put under con
tract, and will soon he in operation Thi
branch will run for moro than 80 mile
through country generally fertile and wei
settled, the county Of Talbot hcfhg one Of tn
most productive on the Eastern shore ,alway
a great wheat exporting region, and unit
now dependent entirely upon the uncertain
navigation Of tho bay for its access to maj
ket.
This market must now be changed: an
the merchants of that whole region will h
attracied-or driren-by the superior faci
ties of X, r. transportation to procure thoi
5 goods and make their sales in more Nortl
h ern market.
Let US hope that the energy and entcl
prise of our merchants and mechanics, wi
u not allow this trade to go By us withor
. leaving fair share of it in
WILMINGTON.
g