Shepherdstown register. [volume] (Shepherdstown, Va. [W. Va.]) 1849-1955, 1871-01-07

"a, ON bonds; third, reason abs dividends
on stock; fourth. 10 provide sinking
fund and Fifth. contingent fund Tor re.
newsls, repairs. accidents and improve
men,s. All the excess. beyond these sp-
propristions, shorld be applied in the d.
rsction OF reducing charges and develop
| ing resources. SO that the country and The
people will be benefited, and the road be.
! come an instrumen, Of widely extended
usefulness.
II such a policy were universally sdoP-
ted, and roads were built on cash basis
wi,ho It financial sacrifices, the apprecia'
lion in the value Of property. within The
area influenced by railroads. would be
measured by thousands Of millions Of dol
| lars.
That have long been a persistent sd.
vocsIe Of the Alicy Of large business
carried al low rates, will appear upon ref
erence TO my report ss chief engineer OF
the Pennsylvania rslroid in 1854 Sew
enth Annual Repor. Of the Pennsylvania
Railroad Company.
In the preceding year the total tons
moved on the Pennsylvania railroad had
been I59, 632 tons. took The position
tina, The tonnage Of the road could be in
creased. aud ough, 10 De increased to
million OF IONS, and used this language:
IL believe i. possible TO increase the
business Of ,hr Pennsylvania railroad 10
this extent. q 100000 tons.) and make
! i, an instrument Of incalculsble good TO
the citizens Of the Stale but to attain
these results the repeal Of the tonnage tax.
Is indispensable. and io,0 rates with mod
crate dividends. mus, indicate the settled
policy upon which the operations OF The
| road are 10 be conducted Increase of
trade. activity o! business. and The ex'en.
sion Of our great cities, constitute objects
Of greater importance Than large profits
upon trans Dor,aiion. IL is UNNECESSARILY
better for the interests Of every portion OF
The State tina, the road should do large
business. even with small profits. rather
than realize the same profits on smaller
tonnage"
These we're The opinions advanced in
1854. The policy OF large business and
/ low rates was not a, that time universally
approved. Many could no. see how coal
could be carried with profit al one cen,
and a half per ton per mile. when the
l59, 900 tons Of freight then carried sOsi
over two cents. |. became necessary 10
publish pamphlet on the coal tonnage OF
The Pennsy lvania railroad. To prove that
an extra half million Of tons Of coal could
he carried at an actual cost Of only seven
mills. The assertion that under liberal
policy the ,onnsge Of The Pennsylvania
railroad could be increased TO a million OF
tons, was regarded as The u,iersnee OF a
visionary enthusiast. But What are The
facts =? Instead OF one milliun. The ton
mage Of the Prnn.vlvsnia railroad now ex
ceeds fue millions and il | should state
my impressions in regard TO the develop
menis and prospective business Of your
line under the stimulus Of libersl,polIcy,
low rates and proper accommodation. my
estimates might again be regarded az ex.
usvsgsni and visionary. Its safe 10 as
seIt, howerer, that at any reasonable cost
OF construction. the interesi on The bonds
and dividends on The stock would be al
most as certain as they have been on the
Penns, lysnia railroad. lis true that 20,
have NOT at present as large local popu.
l.tion per mile, but you have more rich
limestone land. much greater capacity for
agricultural production. more live stock.
more lumber. deposits OF iron ore vastly
more extensive. and IN addition thereto.
the gypsum. sall and marble. which the
Pennsylvania railroad never had. and
which alone may furnish neatly half The
tonnage Of the road.
The resources u gypsum. coal and
iron. marble. timber. salt, live stock. &c..
have been omitted for want Of space. bot
will APPEAR in our next
But what most concerns our readers 10
thai part OF the report in regard 10 "Ihe
importance Of completing ,be First Divis.
ion." which says: ~ st p
/, 10 desirable that the first divi.ion 81
! youT IOdus OetWetu tho Ospmbc AtseI
and Baskerville. should be completed with
out delay. This division i, important.
no, only from The large amount Of county
and private subscriptions which are Dc.
| pendent upon il. but also from iIs eres,
intrinsic value 10 The local interests 10 be
developed. and The inpoitsni railway
connections that will be thereby secured.
The eastern side Of the valley. along
which your road has been located. 10 far
richer. both in agricultural and mineral
resources. Than any Other portion. The
western base Of the Blue Ridge i, almost
a continuous bed OF the hemahle ores of
The best quality. furnishing a qnalliy Of
iron Of grea, ienaciiy. The Shenandoah
Iron Company have now two furnaces in
operation. and will proceed Of once 10
erect large rolling mill. when the early
completion OF tie road breomes certain
they will also make liberal subscription
& The stock. The Abbott Iron Company,
Of Baltimore. have also 8 furnace 10 ope
ration, aud will make sddtions TO their
works. Messrs. Cooper 4 Hewitt, of
New York, 10 is understood. are prepared
to invest largely in new works, ant. these
constitute but very small part OF The i'm.
Provemenis that will result immediately