The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1872-02-05
The Prop 'sed Lease Of tho South caro-
lima RslIroad-ItsR Rutnous character
and Probable Effects. Ts' -

etockh0ldel6 81 Jthe Iat6i0k iOur peE Geu1s w
the par value ts che shares In addition to
which the usual, undertaking, will. besmade
to pay the interest on the debt, keep the
road in repair, and return it, in the same Or
derin which, it may be received, at the e1-.
piration Of the lease, " o.; =: - ll s2a.s n
The Central Railroad in Georgia is to the
City loi Savannah very much !. the & same M. 4 as
the South Caroline Railroad isito the City
Of! Charleston The competition between
these. Two, roads, is not only induced BY. q
regard ioriths siutsrests ofthe stockholders
ipeacb, but, in q. great measure to sustain, sta
inieach State the city which is the terminus
OF each road, The City OF Savannah, II the
Central; Railroad was not in operation,
might, from its water communication, with
the City OK Augusta, secure some portion OF
the ebusiness which to the present time 1t
enjoys. But che City OF Charleston has no
other communication than such as the South
Caroline, Railroad affords. Take from it
that road; and the, means are altogether re-
moved by which commodities can be brought
to It or taken from it. The aua
Charleston Railroad could scarcely be ex-
pected to present any elTsctual opposition to
the colossal proportions OF the Central Rail
road in Georgia, when the competition OF
the South Carolina Railroad has been over
come. The question, therefore, OF the e. lease
oithe South Carolina Railroad is the ques-'
tioGf ofthe commercial indepen dence, ltmay
bee said the commercial existence, OF the
City'of Charleston;
The considerations, however, which at this
time 1t. is desired to present in connection
with this matter are, addressed immediately
to the stockholders OF the South Carolina:
Railroad. For the present, we put aside all
questions OF pride, whether it affects them
az citizens OF the State or residents OF the
City OF Charleston, We address ourselves
to it,as purely business matter.
For the. present, also, We put aside any
consideration Of the motive or purpose
which prompts the offer Of the. Central Rail-
road OF. Georgia to. lease the South Carolina
Railroad. 1t may be that, in the teeth OF
the gigantic efforts OF the Central Railroad
to absorb the business of the South and
Southwest and centralize it in Savannah,
results have shown that, with the competi-
ton. OF the South Carolina Railroad, the
efforts ,of the Central Railroad have been
unavaillng; and that its last effort is to ab-
sorb q competition with, .which.it could not
contend, and buy, in the shape of lease
Of the. South Carolina Railroad, the life
blood OF the State of South Carolina, and Of
the City Of Charleston. We say nothing by
way Of ,reproachl to the peraons who con-
troll the Central Railroad, or to those who
wish to give TO the City Of Savannah an en-
during pre.eminence over the City: of
Charleston. They have heretofore struggled
for the success OF the Central Railroad, and
the re.eminence OF the City OF Savannah,
with q zeal which no one con fail to COM
mend. II they can, after having failed to
overcome US, conduct themselves 80 skiliully
that they will make us the means with which
we shall overthrow ourselves, still greater
will be the credit due to their sagacity.
What particular quality will thenceiorth be
considered as characteristic Of us is a mat
ter that; after the lease issigned, we shall
probably know without being told. But OF
this, more hereafter. 1t is to the stockhold-
ers Of the South Carolina Railroad that we
nowspeak. What tempts the stockholders
in this offer? Simply the four per cent.
dividend that is promised. II there is moth
ing else to be considered, the inducement is
proper, and In itself is good. But is the
stockholder certain that, at the end OF two,
three Or four years, he will have any stock?
And il he has no stock, where will be his
dividend? These queries may seem strange.
A few words will make them plain enough.
In two or three years, certain portion OF
the debt Of the South Carolina Railroad will
become due. II the control of the South
Carolina Railroad has passed into the Gen.
trail Railroad Of Georgia, who is to provide
for the payment OF this debt? The South
Carolina Railroad, as an independent cor
poration, will have ceased to exist; IL will
have become mere appendage OF the Gen.
trail Railroad. VIII the Central Railroad
ay the debt! Certainly not. What, then,
will follow? The creditor Of the South