The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1866-06-02
Greenvi,iesa and coiambia Railroad.

. y =
GreenvilictaiAd Columbia. Railroad,
MEssRs. .EpIroRs T noticed, in, your
ssue OF the 25th ,iltino, an article calling
public attention to subject just now o.
the grayest Importance to your city and to
the State. Ihaye waited thus long in the
hope that an able and vigorous pen would
! take up this subject and set it fairly, fully
anu without prejudice before TIE public.
Though, indeed, the proper arena for the
debate OF this subject is not the ..'public, %
yet the public interests are SO largely in
volyed as-to entitfe them to the best infor.
nation, in order to form wise and intelli-
gent Judgment. The tue and only, place
Tor the debate was before the stockholders
| at their recent meeting; and these very
views IN the order Of and with moro rheto-
rlcata oratorical flourish than can he
written, accompanied by figures, too, that.
shruuk from the fixed, unrepealable sane,
eao1 or print, were set forth by very able
lnsisted; and yet the stockholders, +, their
united force, adopted this Relocation of
their road upon tho new proposed roura.
and instructed their selected directors to
construct it when, in their Judgment. it was
aeemed oes NED most practicable. The .stockhold-
49, S.s>eS SA0NOhvSu SO ltuCI Ol CnlS question
asthe tstime when and the means where
with thus new route should be constructed
upon the directors, they themselves haying
indicated their policy. But your correspond,
ent, "A Stakeholder" has selected to throw
open open. 70 the q, deeply interested public the
ceeds to state his views with an appear-
ance OF clearness and detail which, Would
command respectful attention if it were at
all apparent that these statements were as
honest and unprejudiced as the subject
demands.
Let MS examine these statements in tho
same order as CA Stakeholder has written
them, and see how far they are worthy of
that influencing weight which such state
ments should carry, whose object is to
guide public Judgment.
Nrst and second paragraphs.-Ist.T The
bonded and floating debt of the Company
as shown by their published statements
examined and approved, amount to 81 800.
00O-just 81, 100000 less than the statemcn.
OF f'AStockholder." The cost Of road. with
outfit and rolling stock, is s3O55, 933. 70;
property independent OF roadway, outfit
and rolling stock, is valued at S1j 4.445l9
winch is fairly an Offset by so much to the
cost stated.
"a. At what rate the road might sell
either now or for years to come cannot
pretend to know, and venture no supposi-
ton; but it could not possibly at any time
sell FOR less than it's debt. Tho Greenvillc
and Columbia Railroad COMPANY has rot
been without credit. Almost y yearaco in
tho midst OF almost hopeless appearances.
nearly 100 tons Of iron, with spikes and
chairs, We're bought by its President in
Northern cities. The Company has, or
should have, better credit in it's present
condition than could possibly be expected
from its condition at that time
81. The .Greenville aud Columbia Rail
road Company will not be called upon to
build thirty-tiyc miles Of new road or to
abandon forty miles Of their track, rs A
Stockholder' states; but the Company
wisely propose to abandon Mirty-tire mites
OF their track, and substitute it by the con
structlon OF t,eenty-ninc mites, and so saw
ing six miles in perpetuo
IL thus appears manifest that every item
OF the statement made by "a Stockholl-
er, III paragraphs l and ,, is tranyht will!
inaccuracy, which, if done through is.,n.
rance of fact, is culpablc; if from the mo-
i've OF pre]ndlcng public Judgment, merit.
retlbnt'ye Justice--conten'M. His assump-
tiohs and lnterrogatlves are worthy of the
stump and the petty demagogue, and can
only affect the ignorant and the partisan.
faragraphs and I, devoted to the into
rests or the Spartanbnrg Road, and Of the
DISTRICTS which it accommodates, opens
question not very obvious. This question:
Is the value OF this trade To the Grecnyillc
and Columbia Railroad Company. "A
oIochnoluer does not inform lis as to this
value, although he does tell us of tho mu
nlhcencc OF tho Greenville and Columbia
Railroad Company to the Spartanburc
Company, inaccurately however, for that
Company contributed Sos, 900 in stock and
otherwise; besides, very large renissions
IN the cost of transport alton from Alstou
to Columbia
We DO not know the receipts OF this Com
paly per annum from this tributary ,he
Spartanburg Road. But this item would
not, and certainly should not, control the
polcy or either Company ne ta the connec-
tion ut Aston.
The original design OF neither of ,lcs.
Companies could have been merely to p!av
the part OF branch road ta one or the
other.
1t is notorious that the DESIGNS of the.s
roads looked to an ultimate Western con
nectlon with the Ohio River, and the merit.
OF the two routes have been set forth with
zeal by the several advocates The Blue
hldSc route seems to have gained the ba-
lance of power, and large amount OF
work upon 1t has been accomplished, while
nothing has been dono to connect Spar
tanburg with Asheville, or any other trans
mountain locality.
II the Spartanburg Company could cA-
tend their Road Immediately Westward
they have already shown their sagacity
and sound judgment by obtaining the
right to como by an Independent route to
Columbia; and this evidence of their wis
dom tesutics to mo that they viii never
purchase the route OF the valley of Broad
Hlver, but will even, at greater first cost.
reach Columbia by higher and safer
route.
Tho engagements of corporate iustitu-