The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1866-05-10
The Presidents Report.

Ine ,ETeSlQ0ut 3 AepoIG.
- 70 the Stockholders of the Greenville and
.Io1embia Railroad Company:
The President and Directors submit the
following report for the year 1865:
The year under review was an event
full one First, came the freshet on the
10th of January, which washed up and
rendered unfit for the passage of the
trains about forty miles. Of your road.
OF this disaster you have a minute and
special account in the annual report OF
last year. Second, came the invasion of
the State by the Federal army under
General Sherman, and with it the de-
struction of your valuable depots and
efice edifce at Columbia, of about twelve
miles of your road, including five bridges,
and of many engines, cars, depots and
treights; all.of which is more particular
ly set forth in the report of the General
Superintendent, herewith submitted, to
which your attention is called. Third,
came the surrender of the armies under
Generals Lee and Johnston, and the fall
of the Confederate Government, which
swept away the currency, your invest
menfs, and nearly all of your assets, and
involved our country in almost universal:
bankruptcy. And last, then followed the
military rule of the United States author
tiles, with the seizures of property, the
depredations attendant upon want and
lawlessness, and the general confusion
which pervaded the land. For FIVE years
yourroad andits appurtenances had been,
for the most exhausting services, subject
to the acquisitions of Government Off
GERS and agents. In compensation for
these services, prier to May last, there
stand the bonds, notes and liabilities of a
fallen Government For the .transporta-
ton of numerous bodies of troops, that
subsequently passed over yourroad, which
constituted part of the great line Of travel
through the State, after the destruction
of the South Carolina Railroad, the Fed
eraE Government is justly liable; but so
irregularly were those troops thrown.
upon your road, that, in the absence OF
quartermasters and instructions, it was
impossible to obtain the vouchers which
are necessary to satisfy the strict require
ments of the auditing officers at Wash
ington. w hat remained of your track.
rolling stock and machinery at the end OF
the war Wasssemously damaged, and the
means. of repairing were small yet, be-
sides bringing other heavy loss to your
Company, they impaired the efficiency OF
your Board by injuriously affecting, its
reputation for good management; for
with those who will not scrutinize causes,
success is the only test of merit.
1T was believed that the true policy of
the Company was to pay its debts as ear
aly as possible and to carry out this view
the surplus income had been husbanded,
and not paid out in dividends. At the
beginning of the year, the Company was
FREQ from debt, except the bonds, and had
what,was supposed to be available assets,
amounting to at least million dollars.
Prosperity, such as we had not previous
ly enjoyed, seemed to be ours; but very
soon we were made to endure severe dis
appointment. For time after the fall
Of the Confederate Government, the en-
ergies of the people in every branch of
business were paralyzed. All OF our
property at Columbia having been de-
stroyed, and the road below Pomaria be-
ing in ruins, it was, after a short refec-
ton; determined to remove the offices of
the Company to Newberry A suitable
house andslot was there purchased, and
the General Superintendent and Auditor
and Treasurer there opened their offices.
The Company had only about $500, which
wasin gold, realized from the sale, just
previously made, of its interest in the
LIVERPOOL and Charleston Steam Packet
Company, which it was proposed, before
thssWar, should be established, in which
we had taken some stock, but which fell
through. The only other available assets
was a lot of about one hundred. Land sixty
bales of cotton, which had been saved.
En- this ruined, prostrate condition, the
inquiry was, what can be done Ameet-
ing was called, to take place at Newber-
ry, but all mail arrangements and COM
mnnication having been interrupted, no
tice reached but few of the Directors.
Such of them as could, attended, but we
failed to have quorum. A consultation
was had, and we determined to keep the
organization together, and to work the
road to the extent Of its running capaci-
ty; and also to commence repairs, and as
the means could be obtained, topush them
On. so as in the end to rebuild the road.
A successful accomplishment of this end,
SO desirable, at that time, to most of us,
seemed impossible.
There being but few engines and cars
fit for use, at first only one train day
was run-up to Greenville and down to
Newberry, on alternate days, Ghe train
on the Abbeville Branch running in con-
neetion.) The running was extended to
Alston as soon as the road was repaired
to that place, and soon afterwards daily
trains we're run between these points and
Greenville. But owing to the want OF
connections with other railroads, and the
- C1<>l., n, biz ,,at nor.