Delaware state journal. [volume] (Wilmington, Del.) 1870-1883, 1872-10-26

low mutually beneficial to them and TO
the great Commonwealth, with which
she has this day joined hands. lie con.
graduated all on the accomplishment Of
this work, and then once mdre welcomed
them to Landenberg.
Col. Jonn W. Forney was introduced,
and said that he appeared In response to
a sudden call 10 represent and speak for
Pennsylvania on this occasion, aud he re-
jolced that thus new link had been COM
pleled, binding the grand old Common
wealth to the superb city OF Wilmington.
lie appeared to extend in the name Of
Martin Landenbcrger II Co, a hearty
welcome to Pennsylvania and their con-
gratulatlons on this, another trophy Of
the energy Of the athletic aud refined pop
nlations Of the two States II linked to-
gether. lie came here to help US do honor
to the completed work of his tried and
true friend, Mr.. Heald, evidences Of whose
enterprise he had also seen In riding that
morning through the beautiful city Of
Wilmington, and the crownlng evidence
of whose energy. Is this road whose COM
pletlon we here celebrate.
j 4. Head. ESQ, President Of the Will
mington Il Western Railroad, was then
Introduced and smoke as followsi
Sfockholdcrs Of the Wilmington and Western
Railroad rompany-Gucsis and Friends
somewhat more than year has elapsed
since II was my pleasure to make few re-
marks on the occasion Of the ccremsnies of
breaking ground for the Wilmington aud
western Rslroad, and 1t now becomes a
still more pleasant duty to add some remarks
on the occasion Of celebrating the completion
of the line to Landenhurg. l am sure you
will all agree with me that whatever may
have been the shortcomings of the Managers
much has really been accomplished in the
intervening time. The Directors and officers
Of this company make no claim TO great eX-
perience. they have not aimed at perfection,
they have not expected to do their work free
from errors, and they have not Hattie cd
themselves that they should escape crlti-
cism, both merited and uhmeritedl but what
they have been meaning to do was carefully
to construct road best adapted to the means
at their command, and TO the probable re-
qnirements OF immediate as well as future
trade, and at the same time to complete It at
the earliest practicable time consistent with
due regard to proper economical cOnsidera-
tions So with faith in our enterprise, with
reliance upon the cooperation OF good friends
AS we might merit their confidence, with en-
ergetic determination to push, aud with. l
tiust and believe, honesty of purpose behind
all, the result is before you. We do not
forget the prediction that the necessary
stock subscription could not be raised, but
| the requisite T25O,O00 and more were In due
time, and in good faith, subscribed. We do
not forget that the bonds could not be sold,
but they have been sold rs means were re-
quired, and rs admitted by intelligent capi-
! talists. on most advantageous terms TO the
interests of the company. We do nor forget
that we should soon have to stop progress for
want Of cash, but thanks to the faith mani
/ Tested by good friends we have been enabled
TO meet each and every just obligation with
/ unquesiiOucd promptncss. We do not forget
| that the rund would not he running In less
[ than two years, but II is running in about
| fifteen months. and do not forget that we
| could not finish il in one year aud just there
| confess Cuba Hill was too much for US, aud
the doubters were right. Even for this |
! could give many reasons in explanation, but
/ 1 wM not, IL is the duty of each Of ns TO
/ meet whatever responsibilities in life we
assume. and therefore charge ms shOric0ming
| to me-. Well. says one, admit that You have
! pcrHistcutly ACCOMPLISHED this much. and
! that YOU are ready TO go into operation.
" Railroads do not pay Again, this Is not
true. Carefully compiled statistics dlsproye
it, aud ! insist ~ one Of my hobbies, that
! railroads. intclligently located. economically
constructed aud honestly managed should
/ Day quite as well As Investments in bank
stocks, or in other operations that from
their magnitude are necessarily conducted
| on the joint stock principle. The average
| earnings Of the railroads of the United
/ States. for 1863; were 20 per cent on the csti-
mated cost for construction and equipment
then taking as a liberal allowance 20 per
| cent. ior the cost Of operating, and we hay G
| 30 per cent. net earnings. which would he
equivalent 10 clear profit for dividends of
/ 10 per cent. per nuuum ON the stock. But,
| says another, our line is too short to he an
average one Ia paying. In answer to this
I we cite the tact that one OF the shortest
roads in the country, from Hanover Junction
10 ii., tua % OF Hanover, ia-t miles, 10 one ui
the most profitable, making regular 10 pei
cent. annual div ideuds. and at the same tlmC
has cancelled - dcbt nearly double the
amount OF the original paid in capital. MOI
has this road ns important termini as ours
Ia o. al NN tltfa
rs ours passes through and near immense
beds Of kauln, lime and marble. as well as
by important manufactures upon the Red
CLAY aud White Clay creeks. But again, tho
Hanover road has important terminal con
ncctiOus. Ours has already an important
uorthcrly and westerly connection, anu Is
surely destined NJ tn carly day to make
others of great value, opening up extensive
iron ore, coal and slate mines, and other
frrighiing material. Permit mu now aud
here 10 place upon record my opinion iul
future reference. that the present line OF
about twenty miles of the Wilmington and
Western Railroad is the initial link OF a
great tut %" railroad system that viii con.
meet the raw material OF interior and south
ern Pennsylvania and OF the West by the
most direct lines. not alone WITH the great
manufacturing interests OF Wiliaipgtos, yet
in their infancy. but also with the. Delaware
at the natural and splendid harhor of the
Christiana. really hc most drdiidDic point t0I
a tresferH connection iciM The cOmmfrce Of Mt
bilities of our road have attracted the favor
able attention 81 experienced gcnucmcn i
railrOadins, and the opinion has been given
hy a promlnent rhlliotl expert lnNt ouI hn'
VIII prove 70 he a good ana pAylhs one ~
view of all this then what is likely to be the
| luiufe ol thls seemingly lltti' ehtelIIlA'
that we inhuSufale tn-lhy but, b,ys hl
other, what rs the use oil RAILROADS. 10 tnS.
make men wiser, happier and better. To
discuss this question In the light Of tho
Ninieenth Century and In the year OF oul
.-'iN 90 = M~al.n ,,,,i iit CrIar
n ~ @ ,., crn, ,ii,,,h ,t.nr,ati,,a s,,
na" usli5 5is ,h ~. 10, ,ghf, tr,,'ri.
su''', i m IL ny, r r iir,, i f,r sunoricr /,
"ie i,.,,,.1s m i,iii,,"nre In libe
ritt i 6arit, snn a., ,,e,,cFi uscfiiness
~ t,,,t ' nan atberv,isc his eou,t WIN stav,
~ ~, ,i'," t,it "a, tbc 1,,sricsencss %
a. uoiiI "''N ,.f.s.. ti, ..,' ~. - go, ~, nfesoi,
i9,at,s,i irtnrcst ,.itb tho f,ciiitia1
i',,'.,5 tt,on, IA, r,iire,Is as +" rea,iil, an
i tt "s 80, f,,s t,,,, ,,,,st ,,,,,,s
F.-iSil h,.,, -, i,t,rest,d In rsitro.ds
aNti,s uoion's i.,,.n hnt az ncces
% ~. , 9" ~, ,,,,,,ii resns t'nnsiJ
a.tS, ti,t ~ ~, 10y; ~ LA In this ,i,,i,it,
e@.ii's @ it77 ~, iar,,s naet.rn cif,cs v
. anu a.Ja1,'mt ,'tt ~ 1uu ~ tbe interor ais
vohp"tVH WIN i'u"a , ~ -, ~. ~ ~
NV ei,s ~, ~, a. pi,er no eptcrnrisin
lely9 ~ Wy /" & NV a. ",'i t ,''.n iif u
nl,..,s .tn 80 "a - ~ - 80 - iii,i,,s 20 min
aru upotnh w ,,,d jre,t n
tilie Wua'ein li1'.uee ~ ~ 't;t - ~ t
e peutloh Win lh"t oi tie l-"s,, aiI u, i ~,
Z e1ihsa hi"'sut " u ~ h3-i ,,,is,I f,rr,
Mnesnut tns o"nv.s a., m 5st
sam Vui'i"Vs w. " ,,y III "a \, thnr ,,n
lutN, WIN wv W.. -" ~ - ~ ~. - ~. s f ~.
Nitally imporl4ht that oIa @ ~ n,ets siuu. l.
| piaec themselles ~ u siH77Sit HN.te N's.t s.tt s.t
Hneipei ~, ~ t
issa elsith ~ I,eir nrnbictton
4 W Shnnhe nv t.. -, IL @ n, 80,
= ana hupplies 70 putteli mllNi ,'a urenni, VIZ
taultsf llul's' "hu ,lu llsus ~ 10 l,s H. ~
= iuAItiea nm ~ w ,,, itiSs ''''