The Camden journal. [volume] (Camden, S.C.) 1866-1891, 1868-02-20
THE ANNUAL REPORT OF THE
soUTuEcA oLIfJA RAIL ROAD

SOUTH GAR oL1TA RAIL ROAD 3
We publish in another column a
synopsis oflthe principal features con-
tanned in the reports of the General
Superintendent and Auditor of this
Company, and propose in this place
to consider those questions of general
policy ard management which arc
found in the report of the President
ard Directors. %
The income Of the road during the
past year has been good, although it
was not equal to the reasonable ex-
pectations formed by the Board at
the commencement Of the year. 1t
was estimated that in 1867 the money
market would be easier than in 1866,
and that large benefits would be de-
rived from the completion of the
Macon and Augusta Railroad, and ii
better system of Western connections.
But none of these anticipations have
been fully realized. The crop of the
year was sold at uurcinuncrativc! pri-
ccs, and was moved late to market,
thus contributing to increase the ra-
tis of expenses to earnings, not only
by diminishing the means by which
supplies in return could bcpurchascd,
but by requiring transportation at
seasons wl.cn it could only be afford
ed by moving empty trains to interior
points. Money became more and more
stringent. Political and social ur.-
certaintics added 10 the general gloom.
The Macon and Augusta Railroad is
still thirty-fve miles from being CON-
plctcl, and the large outlay Of tire
South Carolina Railroad has so far
brought no return. Yet tic Board
were not over sanguine. The Central
Railroad reports 213, 600 bales cotton
equal to S1,2l3,G00, as having passed
Aa.a,eea q al AIaeon gand ssHyst, t,nally instJle.
past wear. With the complGtfonS5of,
the Macon Road, the. South Carolina
Railroad can. fairly and honestly
compete for this enormous business,
and an estimate that the South Car
olna Railroad may look forward to
securing onc-fourth Of that business
cannot be called exaggerated.
But in spite of 'thc adverse inAu-
enccs CT which mention has been made,
the South Carolina Railroad would
ha 'e realized large increase Of
earnings but for the active opposition
with which the management has had
to contend.
At Augusta and Atlapta, and at
Columbia, there has been vigorous
and bitter competition. This led to
reduced rates Of transportation, and
is the reason why an increase of 81,
1876 in the number Of tons moved has
worked so small a change in the f.
nancial result. Had the increased
tonnage been charged at the lowest
comparative figures in 1860, say
three dollars and fifty cents per ton,
this increase would have yielded $164,
571.
Under these circumstances the
Board are justified in declaring that
it is fairly satisfactory to be able to
make the announcements of an amount
of income even in excess OF the pre-
vious year. This excess Should in
reality be increased about $50, GOO,
being the sum of amounts due to
the company, which were first brought
Into the accounts for the year 1866,
but which were earned in and be-
longed to 1865.
The Board have directed their at
tcntion to ensuring ola vigorous econ
omy in all the departments Of the
company. TO this end, particularly
of late, their most earnest efforts are
devoted, and they hope and expect,
from what they have done and pro-
pose to do, that further important re-
ductions may yet be made.
The net earnings of the year shov
falling off, but this falling off has
already been explained and can fe
made even more clear by refcrriusto
the mileage made by the locomotives
of the company. The miles runby
locomotives in 1867, exceed the niles
run by locomotives in 1865 by ABOUT
100000 miles. This increase Of ser
vice was performed without a pro-
portionate increase tf tfcompcnatIon,
but it could not be performed without
considerable increase OF cot. But
here economy and .iudicious manage
ment came into effect, for While the
increase in the miles run is equal
to fifty per cent, the increse in op-
Grating expenses is only three per
cent. ..,.