The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1872-01-26
A R.llroAd Sensation,

York ''syndicate" I've believe thnt is the
true use Of the Secretary OF the United
States Treasury, Mr. Boutwelrs, word
for money ring) has purchased a con-
trolling interest in tho South Oarolips
Railroad Augusta and Oharleston) Com
pany. This rumor, which has been
whispered or given in ''strict confidence"
Tor week past. nov 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 syu.
dlcate is named-the well.known banker
and ship-owner, Moses Taylor, of New
YORK city. The interest purchased is
specified 81 100000. The price paid
Tor the stock is given-the price current,
or $50 per share. The associates, some
OF the leading capitalists of New York
CITY, all OF whom are directly or indi-
rectly IN the coastwise trade by steam
ships, are given. The amount of details
are such as to set aide every objection as
to probability. and warrant all confidence
as to the truthfulness Of the transaction.
Now, We ask, what does this mean2
Here is combination Of strong and sa-
gaclous men and merchants. Mr.. Moses
Taylor, the chief OF the "syndicate," ia
u large shipowner. but ut the same time
Is reported to hold very large interest
IN the Georgia Central Railroad Com.
pany-owning, we are told, more than
81, 600, 600 in the bonds and stock, and
largely Interested in the steamships con-
neoted with thut line. The Central
Road and the South Carolina Road ore
rival lines. having rival outlets at rival
sea ea-ports--Savannah and Charleston.
The mere suggestion of money specu.
iatlon Is insn nlficient for the solution of
this move of Dir. Moses Taylor and his
syndicates. The purchase of the stock
In the South Carolina Railroad is, doubt
less. Just such speculation us would
command nn Investment by capitalists;
out 1t Is such speculation, under ordi-
nary circumstances, as would involve, to
make it profitable, fierce rivalry with
oontending lines; and not u speculation
which would call for the fusion of rail
road interests with large OUTLAWS of
money. In our opinion, we must look
Tor satisfactory solution in other mo.
tlves and III other designs. These, we
nre led to believe, lie in the antugonism
which exists between Now York on the
one hand and Baltimore and Philudel-
phia on tho other. The great objective
point OF the great commercial centres of
the North are Southern trade and the
command Of the Southern Pacific Rail.
road.
1t is we'll known to our people that
the "syndicate. known us the Pennsyl-
vania Central" has been active and
sagacious in their investments in South
ern roads, and it is equally we'll known
TINT this ''syndicate' looks wholly to
the interests of Baltimore und Philadel-
phia. This Syndicate" controls rail
road lines. cheaply purchased and eco
nomically worked in Virginia, North
Carolina, Tennessee and Alabama. They
are building an air line from Charlotte,
North Carolina, to Atlanta, Georgia.
Very recently, this company has pur-
chased controlling interest in the Char
lotte, Columbia and Augusta Road, and
now run their cars through from Rich
mond and Norfolk to tho city of
Augusta. Again, we learn that the
Pennsylvania Central syndicate has en-.
dorsed the bonds of Muhone's consoli-
dated roads. extending from Norfolk to
Bristol, Ten nessee. 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 advance the funds re-
qnred for the purpose. Whether Ma
hone proposes to reach the West solely
through Louisville or St. Louis, or will
scale the Cumberland range, making
Maney's Central or the Memphis and
Charleston Roads pnrts OF his line, is not
yet known. In any event, Mnhone is to
have an abundance of money. Scott, of
the Pennsylvania Central, having paid
81 900. 900 for 10000 shnres-a CONTROL
ing interest-in East Tennessee roads,
aud having furnished Malone. it is nj
legged, with facilities for money getting,
it il probable that the latter, in conjunc-
ton with Scott, will seek route to the
Mississippi, either over Scranton's Chat
tnnooga, Meridian md Vicksbnrg route,
or over the Memphis and Charleston
Road to Memphis. Here we think re
tind the key to the true solution. Balti-
moro and Philndclplia combine through
Norfolk; New York, cut of by nnfriend-
iy lines from tho inland routes, com
hines with Savannah and Charleston.
and in this combination will include the
direct friendly interests of connecting
lines, as common to both lines, from
Opelikn, Alabama, to Mnrshnll, Texas.
" this much wa feel assured: New
York, cut of by the superior energy of
Baltimore and PHILADELPHIA. does mt