The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1872-12-28
Tho South oaro,in. Railroad.

The subjoined article from the New York
Stakeholder, an authority in financial mat
ters, Is pleasing indication that the South
Carolina Railroad Company is beginning to
obtain, in the money markets OF the country,
the recognition to which It's sound position
and fine prospects entitle 1t. The Stock
holder might have gone farther, and still
have said much less than the truth. In
building up its road and equipping 1t, with
out any increase OF debt, the South Carolina
Railroad Company accomplished work
without parallel In American railroad histo-
ry; nor should it be forgotten that the en-
tire cost OF s42, lsO mile, which the Stock
holder deems moderate figure, includes an
investment OF one million dollars In railroad
and steamboat connections, as well as the
cost OF the large landed estate OF the COM
pany in Charleston and along the line OF
road. We venture to say that there is no
railroad iu the Southern country which, con-
siderlng the difficulties OF its position, has
been more admirably managed than the
South Carolina Railroad, and no railroad
In the money market offers better invest
ment to those who seek high rate OF inter-
est, coupled with solid and unquestionable
security:
From the New York stockholder, Dec. a..
ut Is noticeable In regard to the best man
aged and most successful railroads In the
Southern States that they are operated and
maintained at 8 much less percentage Of gross
income than even the most prosperous trunk
lines In the Northern and Western States.
Taking the average Of the latter class, 1t will
be found that the annual e4pensee rather e1-
ceed than fall short of sixty-slx per cent. OF
the earnings. Probably the difference Is In
some degree accounted for In the fact that
the competition for irafllo is sharper In the
Northern and Western States, and that conse'
quently much busiuess is done which barely
pays profit. But still We think that more is
due, In the case of q few consplcuously well
managed companies In the South, TO closer
and more conscientious scrutiny by the di-
rectors of the expenditure Incurred in run
ming ana MAINTAINING the Eoaob.
"In the case Of the railway mentioned at the
head of this article, owned by the South
Carolina Railroad Company, the directors of
which are some Of the most eminent and
wealthy citizens Of Charleston and other towns
fin the State, We find that for period of FIVE
years
The aggregate earnings were....s6, ,S22, 9l3 SO
And the aggregate eXpeDses..." 4,002.ll7 LIZ
Showing net earnings of...".s2, 800, 1876 IA
"The expenses are thus but little over
5sA per cent. of the earnings. leaving 4l3 per
cent. of the income as net earnings, and
this upon a trafio OF little over $4,000 per
mile.
I'VE should be pleased to be able to an
nounce TINT the State finances of South Caro-
lima were and had recently been In as good
condition and 10 as safe and responsible hands
as are those Of this prosperous and well
managed company.
1--WE have noticed the same large ratio of net
earnings in the case Of a few other of the best
railways In the South. High rates for freight
and passengers are obtained, while upright
and careful management secures low outlay
in all departments of expenditure.
1.-THE South Carolina Railroad connects
Charleston, tho chief port of South Carolina,
with Augusta, Georgia, one hundred and
thirty-seven miles, having two branches, one
to Camden, 8. c., and another to Columbia,
the capital of the State. The branches are