The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1867-08-21
For the anderson Intelligencer.
THE GREENvILLE AND COLUMBIA RAILROAD
COMPANY.

THE GREENVILLE AND COLUMBIA RA1LR0AD
COMPANY.
The financial condition of this Company is now
SO embarrassed and so CRITICAL that it bchooves
every stockholder and bondholder at least to in
form himself upon the subject, and lend whatever
aid he may to save the charter and property of the
Company from passing into other hands.
The debt of the Company on the lst January,
1867, was as follows:
First Mortgage Bonds outstanding, $4,000
Bonds guaranteed by the State, G24,OOO
S05O,OOO
Coupons due on the above, 313,950
Secured by First Mortgage, Sl,26S, $50
Bonds not secured. 100000
Coupons due. 110,345
Whole amt. Bond Debt and Interest, S2,034, ,295
Besides this there is floating debt of some
magnitude, from S15O,O0O to 5000, 900, to be met
by the Company.
Certain Bondholders under the First Mortgage
have already commenced proceedings, in Equity,
to forecosc the Mortgage, which will most GER
tainly result in the sale of the property of the
Company, unless their debt can be paid, or other
wise arranged. Other creditors are threatening
suits and altogether the condition of this favortc
Company is gloomy enough. The people of the
State including the generous subscription of the
ten thousand and three hundred and sevcnty-four
dollars, in the stock of this Company.
The property of the Company cost, in good mon-
ey, three millions two hundred and five thousand,
two hundred and eighty-eight dollars.
Unless something is done speedily to avert the
calamity, this large property, costing this large
sum of money, will be sold, and what will be the
result? Under the most favorable circumstances,
will it realize enough to pay the first mortgage
debt?
Even should the sale amount to that sum, think
of the loss which will still fall upon the sockhod
crs and sccond-class bondholdcrs More than two
millions of dollars will be swept away, and the
fortunate purchasers will have property costing
over three millions, for about million.
The people of Anderson District have always
fostcrcd and cherished this railroad. They own
large amounts of stock, and of the second class
bonds They arc likely to pay for their confidence
in the enterprise by loss of all their interests.
Can nothing be done to save at least part of
this property? Surely not, if they make no effort
themselves, nor evince eny interest or zeal in the
matter.
1t is true, perhaps the rails may not be taken
up, and the Road entirely abandoned the trains
may still be run over the Road, and our usual ia
cilities of trade and travel be extended by
n new company. But if tlsis is so, our loss is none
the less Our capital invested in this property is
gone But suppose the future owners should coll
cludc to abandon this line of railway or divert its
course, can we prevent it Can we compel them
to run this road against their will Z? fear not.
Suppose they take this course then, what becomes
of our prosperity Not only capital in this
Company is lost but fearful check will be given
to us as n community in everything which condu-
ccs to our comfort and prosperity.
Docs not, then, this condition of affairs call for
chilly on every one interested in this Company TO
use every effort and diligence to do something to-
wards averting this great loss and injury?
The President and Directors are doubtless using
efforts to extricate the Company from its pcrils,
but your cooperation is necessary and important.
A meeting of the Stockholders and Bondholders OF
Anderson District is called on the S1st instant, ut
Anderson Court House. Will there be O general
attendance for consultation, will you trust your
interests to blind chance, or to the few about the
village to act for you?
ONE INTERESTED.