The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1870-03-03
THE SOUTH cARo11NA RAILROAD
Its management ind Prospect.

s'Civis," correspondent Of the Columbia
Phoenix, writing Of the South Carolina Rail-
road, says:
I do not propose to write history OF this
railroad, which was the first railroad ever con-
structed in the Southern States, and for some
time the longest road in the world; but merely
to throw out q few hints, so that stockholders
ma, see their true interest and not part with
their stock, when we have evidently passed
the crisis In our affairs, and with ordinary pru-
dence and foresight on the part OF the direc-
tors, the stock, so long almost worthless, viii
now continue steadily to advance to Its
par value. The directors, doubtless had
many difficulties to contend with when
the war closed, and 1t Is not necessary in this
article to discuss the wisdom of their manage
ment; suffice it to say, oil the difficulties have
been overcome-our future prospects LARA
bright and the road In excellent conaltioh.r
Our foreign debt, Of about $4,000, ,000,r went to
protest during the war; add to this, the road
and rolling stock was almost totally destroyed
by Shermans army; the prospects, therefore,
were gloomy indeed in 1865, but in February,
'G6, the road was in complete running order
We have now, If not enough, at least hand
some outfit Of locomotives, passenger and
freight cars, of all kinds; our foreign debt has
(eXcept small sum) been settled upon very
liberal terms: five per cent and twenty years
to pay The receipts Of the road have been
heavier within the last twelve months than ever
before in the same period, and there is every
probability that they will reach 81, 500, 900 by
February next. Our prospects justify us in such
reasonable expectations. Consider them Tor
a moment. The Columbia and Augusta Rail-
road has not ruined the South Carolina Road,
| as was confidently predicted, and 1t Is evident
there is room enough for both, and instead OF.
the receipts falling of, they have actually IN
creased This is attributable to two causes:
First, the increased energy, zeal, vitality and
ness; in word, the progressive spirit OF the
age. Second. the important connections this
road has only partially made with the Geor--
gia roads. In less than one month, the con-
nectiOns will be complete, and passengers
will take the cars at Macon and get out
In Charleston. Thousands Of passengers,
who 60 North every year from Macon and
points in the interior beyond Macon, have
heretofore gone down the Central Railroad to
Savannah and took steamer to New York and
other points North; they will now have much
more desirable and directroute from Macon to
Charleston via Augusta, 100 miles shorter; In
few months, also, the cars will run through
the city to the water, where they can step
from the cars on board the steamers and go d.
rect 20 Liverpool, New York, Boston Balti-
more and other points. The steamers are
already ON the lines and doing success
ful business, and If Southern people will
look to their interest, our cotton need
not, in future, go to New York, on its way to.
Europe, to be tolled. The receipts over the
Central Road are over 81, 10000 and 1t is not
unreasonable to expect one-fourth of this for
our road. The directors have determined to
declare dividend in July, to be quarterly
thereafter, and those stockholders who gave
up in despair and sold out, think will only
rnurpt IT, f0r unlpgq war nm 1arthnuaka
some other unforeseen casualty happen, stock
will be double its present price In less than
twelve months. For political as well as pecu-
mary considerations, would say to South
Carolinians: Keep the control Of the South,
Carolina Railroad.