The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1872-03-01
How to seoare our Gains.

The commercial future OF this fair city is
: doubtful, only because Of the danger that it
may be- deprived OF the advantages which
have caused trade and commerce to increase
with gratifying steadiness, in spite OF war;
Of pestilence and OF vicious legislation.
: Looking back upon the past seven years
and their results, we may feel confident that
no effort on the. part Of our rivals can pre-
vent Charleston from becoming the foremost
CITY on the South Atlantic coast; provided
that there be no change in the railroad policy
by which, and through :whicb5i. We have
thriyen. But take from Charleston the South
Carolina Railroad, and the connecting steam
ship lines which the road supports, and moth
ing ofyeonseqnence remains. !, A brisk trade
in potted shrimps and palmetto canes will
not support fifty thousand people. At this
time, therefore, We can see both the weak
ness and the strength Of our position. And
we have written In vain II We have not salts
fed the public that it is Indispensable to the
welfare, nay!to the existence of Charleston,
that the South Carolina Railroad shall not
be bought up or leased by any persons
whose interests are diametrically opposed to
our own,
The plan Of our adversaries is to buy mp
quietly voting majority OF the stock OF the
road. Having accomplished this, they will
put the road under the management OF their
own creatures, or lease it directly to the col
poration which they represent. Either course
will produce the desired effect; the road,
instead OF working for the benefit OF South
Carolina and the development OF Charles
: ton, will work the benefit Of rival rail-
road and rival city. The great question,
therefore, is to devise means for preventing
any clique from obtaining as much stock as
is necessary for the successful prosecution OF
their purpose.
We firmly believe that it is as much for
thu advantage Of the stockholders OF the
South Carolina Railroad to resist lease or
sale, as it is for the advantage Of the people
OF this city. But there are large speculative
holders Of stock, who will put it on the mar
ket whenever there is tempting advance in
price. There are, besides, many stockhold-
erswhose necessities, from time to time,
force them to sell their stock. These two
classes are expected to offer to the Ring, in
larger or smaller lots, the shares still re-
quired. We cannot expect any help from
the. speculative or the necessitous holder.
Other persons have bought the stock as a
permanent investment, being assured that
the road, before long, will pay handsomely.
There are still others who look less to the
direct profit in dividends, or in advance OF
price, than to the profits from their trade or
profession, which the possession OF the stock
assists them to retain. They have stake
in Charleston amounting to many times the
nominal value Of their stock. The loss OF
their yearly income could not be compeasa-
ted for by any price that clique might offer
for their railroad shares. And it is by means
OF such holders that we had hoped to block
the game OF every opponent. With major
ity of the stock held by persons whose inter
eat in the city, whether as merchants or me
chanics. or as owners Of reat estate, was III
oreater than their interest in the stock, VIZ
might laugh at any Ring Their boastee