Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1869-11-12

GuCtlon or the rates OF tranSpOrttNOn VIII
increase the receipts.
, where the cost of transportation forms a
, large part of the market value, it is clear
that the reduction of freight would make
an increase of profit and stimulate prOduc-
ton. Where the freight has but little to
do with the market value, a reduction Of
freights can have but little effect in in
creasiDg production. In such articles as
lumber. shingles and naval stores, where
the bulk is great and the value according
to bnlk and weight, a small reduction of
freights must stimulate production, be-
cause it will materially affect the profits.
It may be taken as a safe rule that where
the cost Of transportation is but small
part OF its cost, any reduction of present
rates will only serve to diminish receipts.
Indeed it begins to look like the receipts
would be larger if the freights were in
creased on some articles.
The property of the State and of indi-
viduals along the lines of railroads have
been very much increased in value by their
construction; but the original stockhold-
ers have not had very profitable invest
ments. Yet all the other roads, as the
country increased in wealth and popula-
ton, were paying dividends before the
late war.
The charter of the Company has pro-
vision permitting the building of branches
with separate capital stock. The most of
the roads have been built on too large and
expensive a style for the business to be
DONE
There are several points along the line
of the road at which light surface branches
properly built for cash, and we'll managed,
would pay the stockholders and be Of ad-
vantage to this road.
From the reports submitted it will ap-
| pear that there has been slight decrease
| of the debt, while there has been an in
crease of the value of the property.
| While it would be highly gratifying to
the officers of the Company to announce
their readiness to declare dividends, they
are compelled to say the interest of the
road requires the application of another
years earnings to the work of RECONSTRUCT
ton.
A BIG SCARE-THE EXCITEMENT OVER
THE "CUBA" REVIVED, THOUGH NOT GENER-
ALLY PARTICIPATED ma rumor was cur
rent to some extent on our streets yester-
day afternoon, and we have definite as
surance of its accuracy to a material ex-
tent, which concerned the steamship
Cuba, now under seizure here by the Gov
eminent, and startling and daring feat
which set the nerves Of Government Of
6cers all ajar, but which, unfortunately,
originated in their own fertile imogina-
tions. It seems that the fact that Mr.. Val
iente. the Paymaster, and Capt. Iograham,
Commander of Marines, being the only
two Cuban officers left here has excited
considerable suspicion. Mr.. Valiente left
for New York last night, and why Capt
Ingraham remains is his own business
But the Jealous and patriotic Government
officers are ever on the alert, oh! yes, and
it is their business, and they discovered
mares nest.
Two gentlemen from Baltimore were in
the city yesterday and desired to visit the
Cuba. A young friend, resident here,
offered to accompany thenl and introduce
ed the gentlemen to Capt lngraham, who
promised to form one of the party. Having
learned that no written order would be re-
CURED to visit the vessel, the gentlemen
| took a small boat and proceeded along
side. There they were at first halted and
come on board without written permission.
Capt Ingraham was in citizens dress. -
Finally U. S. Marshal Carrow arrived
alongside and was particular in asking the
names of the whole party. They were
permitted to go on board, but observed that
at eve y turn they were followed and
watched
The gentlemen quietly returned ashore
after the visitors had gratified their curl
osity. An hour or two later Capt. Ingra-
ham heard that telegram lad been 1e-
ceived from Washington ordering the al
rest of himself and the other Cuban officer
here (Mr. Valiente), in connection with
which the following remarkable story of
big scare was related It had been re-
ported to Washington that these two
Cuban officers remained behind here for
secret expedition that Cuban vessel lay
off our bar =; that the Cuba was to be seized
last night and towed out by tug, and
that the two gentlemen from Baltimore
were Cuban officers in disguise, here ex-
pressly to participate in the ex-
pedition. Some little time later Capt
Ingraham Was approached by Marshal
Carrow, who told him that if such an at
tempt was anticipated he had orders to
sink the vessel where she lay, and stated that
if he Capt. Ingraham) attempted to leave
the hotel be would be arrested Changing
his citizens dress for his uniform, Capt
Ingraham left the hotel, after commenting
rather warmly on Mr.. Carrow's patriot
ism ~ in enforcing the neutrality laws.
and has not since been approached by any
officer. The gentlemen from Baltimore
we're said to fit description given, but
they have not been troubled. We regret
that they should receive such false i'm
preston of Wilmington and its courtesy to
strangers. The resident of this city, VINO
was of the party, was not troubled, his
well-known character protecting him, it is
said