The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1872-02-01
what Does it Meana

| What Does it Mean9
A rumor has obtained among our railroad
magnates to the effect that New York "syn-
dicate' 1--WE believe that this is the true use Of
the Secretary ofthe United States Treasury, Mr.
BoutwelPs, word for money ringl has pur-
chased q controlling interest in the South Car
olina Railroad augusta and Charleston) Com
pany. This rumor, which has been whispered
or giyen in 'tstrict confidence" for week past,
now comes to us in such an authentic shape
that we can no longer discredit it. The details
are no longer wanting. The head or chief OF
the syndicate is named-the well-known bank
er and ship-owner, Moses Taylor, OF New York
city The interest purchased is specifed-one
million of dollars. The price paid for the
stock is given-the price current, or thirty dol
| lars per share. The associates, some OF the
leading capitalists of New York city, all OF
whom are directly or indirectly in the coast
amount of details are such as to set aside every
objection as. to probability, and warrant all
confidence as to the truthfulness of the trans
action -
Now: we ask what does this mean? Here is
combination; of strong and sagacious men
and merchants. Mr.. Moses Taylor, the chief
of the Syndicate" is large ship owner, but
at the same time is reported to hold a very
large interest in the Georgia Central Railroad
Company-owning, re are told, more than one
million of dollars in the bonds and stock, and
largely interested in the steamships connected
with that line. The Central Road and the
South Carolina Road are rival lines, having
rival outlets at rival eaports-Savannah and
Charleston. The mere suggestion of money
speculation is insufficient for the solution. OF
It &c ToxyI md 10 IL
Gates. The purchase of the stock in the South
Carolina Railroad is doubtless just such spec
ulation as would command an investment by
capitalists, but it is such speculation, under
ordinary circumstances, as would involve, to
make it profitable, fierce rivalry with con-
tending lines; and not speculation which
would call for the fusion of railroad interests
with large outlays Of money. In our opinion
we must look for satisfactory solution in other
motives and in other designs. These we are
led to believe lie in the antagonism which ex-
lists between New York on the one hand and
Baltimore and Philadelphia on the other.
The great objective point of the great COM
mercial centres of the North are Southern
trade. and the command Of the Southern Pa
cifc Railroad. .o..ly. .i
1t is we'll known to our people that the Syn.
dicate, known as the Pennsylvania Central"
has been active and sagacious in their invest
ments in Southern roads, and it is equally we'll
known that this Syndicate" looks wholly to
the interests of Baltimore and Philadelphia.
This Syndicate" controls railroad lines, cheap
ly purchased and economically worked in Vir-
einia, North Carolina, Tennessee and Alabama.
They are building On Air Line from Charlotte,
North Carolina, to Atlanta, Georgia. Very
recently this company has purchased con-
trolling interest in the Charlotte, Columbia and
Augusta Road, and now run their cars through
from Richmond and Norfolk to the city of Au-
gusta.
trail syndicate has endorsed the bonds of Ma
homes consolidated roads, extending from Nor,
folk to Bristol Tennessee, that these may ex-
tend their connections to the Mississippi River,
and ultimately to the Pacific Ocean, and that
London and New York capitalists are to ad-
vance the funds required for the purpose.
Whether Malone proposes to reach the west
solely through Louisville or st. Louis, or vii!
scale the Cumberland range, making Maneys
Central or the Memphis and Charleston Roads
parts of his line, is not yet known. In any
event, Malone is to have an abundance OF
money. Scott, of the Pennsylvania Central,
having paid S1,000,000 for 10000 shares--a
controlling interest-in East Tennessee roads,
and having furnished Malone, it is alleged,
with facilities for money-getting it is probable
that, the latter in conjunction with Scott, will
seek route to the Mississippi, either over
Scranton's Chattanooga, Meridian and Vicks-
burg route or over the Memphis and Charles
ton Road to Memphis.
Here we think we find the key to the true
solution Baltimore and Philadelphia combine
through Norfolk. New York, cut off by un-
friendly lines, from the inland routes, combines
with Savannah and Charleston, and in this
combination will include the direct friendly in
terests of connecting lines, as common to both
lines, from opelika, Alabama, to Marshal,
Texas.
Of this much we feel assured. New York,
cut off by the superior energy of Baltimore
and Philadelphia, does not now intend to set
idly by and suffer the trade of this vast region
to be diverted without struggle. In all events
we are certain that this struggle for the trade
of the most fertile area of the Cotton Belt, will
not be without attending benefits in developing
the South-Augusta Chronicle and Sentinel.
DEATH OF Ex-Gov. BRAGG, OF NORTH
CAROLINA Thomas Bragg, Ex-Gover-
nor of North Carolina, died in Raleigh on the
OF ot ,,lt in the 62nd wear of his age He was