The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1868-02-05
English Railways and Their froSen'
Embarrassments.


have been good deal occupied Will '.t -.
subject of embarrassed railways sonie "
the most extensive companies beng LII
most deplorable financial condition. Corpora
tions that have for years ioated on the Top
most wave of popular favor have come TO a
sndden halt in their glittering career anu
stockholders are greatly discouraged at the
uply situation in which they hnd tner Pe'
stocks.
The rock upon which these great corpora
t;ono have mostly struck, has been the ire
nressible desire for dividends-just the most
natural yearning in shareholders breast is
for the semi-annual jingle Of sovereigns-and
to such an extent did this turore prevail, that
boards Of direction surrendered their better
judgments, to satisfy the demands OF share
holders, many of whom never saw the railroad
or knew it's real situation from one years end
to another, and only unfolded their beautifully
tinted scrip when quarter days came round.
But this dangerous practice of drawing on
the future for the means to make the present
look inviting, has brought about the inevitable
day of reckoning and some very curious dis
closures are broughtto light; for instance, one
of the largest dividend-paying companies had
adopted as q policy, calculated to stimulate
energy among certain officers of the road, the
division of percentage Of the dividends
among said officials, and as consequence, the
larger the disbursements to shareholders the
greater the salaries to these energetic gentle
men; and it now turns out that "capital &C
count" is changed with some f6,000,0 ,0OO-a new
liability in excess of any that had been regu'
larly made known to the credulous share
holders.
This very discreditable state Of affairs has
had, as natural consequence, the most dam
aging effect on English railway securities at
the money centres, and great anxiety exists.
There can be no doubt that it requires COZ
siderable frmness on the part Of officials In Bill
corporations to resist the pressure (Which as
always available from empty pockets) for paJ-
ing dividends. AS in wss, success has come
to be considered the sole test Of great gene
raship, 80 in joint stock companies money dis
tributed semi-annually is sufficient evidence
of ability, without shareholders looking into
unnecessary details and ascertaining whence
came the funds with which to do it.
It is always hard to look the adverse situa-
ton fully in the face, but it will in the end
prove the wise policy to wear the plainest CUR
ments rather than put on the fnery, which
may glitter but is not gold.
Perhaps it may be said with truth, that the
railroads throughout the South have suffered
more BY the late war than five years Of peace
can possibly restore. The four years OF hird
use. without the means Of keeping up tn ase
properties, created in itself necessity for
enormous cash outlays at the close Of the con-
test, but in the case of roads swept by me'ci-
less armies, their rails twisted, cross-ties nnd
station-houses burnt, and culverts blown up,
the difficulties have been almost insurmoullta-
BILE; and yet we know Of several companie, so
surrounded with difficulties, in which Thought
less and uninformed shareholders are agitaing
nervously for dividends.
We hope the time is not distant when we
shall be able to chronicle so healthy condi-
ton in all our Southern railroad companies as
to warrant their directions in resuming their
semi-annual favors; but in the meantime, it is
only making matters worse to borrow money
at eighteen and twenty-four per cent. per
annum in order to sport six per cent. dividend.
And if any of our readers would Like to SEQ the
result of loans for these purposes, even at three
per cent. per annum, on the final prospects OF
railway companies, we commend them to an ex-
animation Of the London, Chatham and Do
YER" the caledonia" OF the midland" COM
panies in England.
VENUS AND JUprrER.-As these two planets
have attracted considerable observation and
interest recently, owing to the fact OF their
late proximity, q phenomenon never before wit
messed by our readers, it will not prove unin-
teresting probably to publish few facts re-
garding them. OF all the luminaries Of
Heaven, the sun and moon excepted, the
planet Venus is most conspicuous. She ap-
pears like brilliant lamp among the lesser
orbs. and alternately anticipates the morning
dawn, and ushers in the evening twilight. The
diameter of Venus has been competed at
about $500 miles, and consequently it's surface
contains 191, 1874 9A square miles, and could
contain number of inhabitants equal 10 more
than 5s, 500, ,OOO, ,OOO or nearly s2ty-seven times
the population Of our globe. Venus revolves
in an orbit whichis 433, 300, 900 miles in ,ircum
ference in the space Of 224 days and Ii hours;
it's rate of motion is therefore about $4,000
miles every hour, 1880 miles every minute, and
about % miles every second. Its distance
from the sun is $4,000, 900 of miles, and from
the earth, when nearest us, about "a, ONO, 600 of
miles, which is the nearest approach that any
of the heavenly bodies, except the moon, make
to the earth. Yet this distance is very great,
for cannon ball would require six years and
three months to move from the earth to the
nearest point in the orbit Of Venus, although it
were flying every moment at the rate of 500
miles an hour. At its greatest distance from
us it is 1863, 600, 600 Of miles.
Jupiter, when nsarest the earth, is the most
splendid of all the nocturnal orbs except Venus
and the moon. It's distance from the sun is
495 millions of miles, and the circumference Of
it's orbit is S,1OO, 900 Of miles. Around this
orbit it moves in II years and 315 days at the
rate Of nearly $4,000 miles every hour. When
nearest the earth it is about 400 1lilions of
miles distant, and when at it's greatest distance
from MS no less than $50 millions Of niles. This
planet revolves around its axis in the space OF
hours, IS minutes, 49s seconds. This rota-