The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1872-02-07
A Word to the Stockholders Of the South
Carolina Railroad Company.

| A Word to the Stockholders OF the South
Carolina Railroad Company.
A desperate effort is making, in the in
terest OF the Central Railroad OF Georgia
and the City Of Savannah, to ruin the South
Carolina Railroad, to impoverish the peo-
pie Of South Carolina, and to destroy the
City Of Charleston.
This is to be accomplished by obtaining
control OF the South Carolina Railroad, by
lease or otherwise, and by retaining that
control until it's immense Southern and
Western business is permanently diverted
into other channels, when it will be tossed
aside like squeezed orange, or sold to
satisfy the demands Of its debenture credit
ors. Exorbitant rates, intended to make
up in part for stoplage VI through busi-
ness, will be imposed upon the local traffic,
every dollar OF which increased rates will be
tax upon the people Of this State, who
may appeal in vain for relief to foreign
corporation whose only object is to sustain
a rival railroad and build up rival city.
With higher rates charged for freight TO
and irem Charleston than to and from
Savannah, with the whole power Of the
Georgia Central Railroad and the leased or
bought South Carolina Railroad directed
against Charleston, this city would obtain
no other business than such as might drib-
ble down from a few way:stations in the
interior. The city would be as completely
isolated as when every railroad leading from
it was torn up by the Federal soldlery.
Desolation and decay would swiftly and
surely fellow.
The plans. OF the public enemy are now
known. They have already bought, at o
third OF its face value, about one-iith Of
the entire stock capital Of the South Caro-
lima Railroad. Unless they find US fully
prepared, they will attempt to lease the
road at the meeting Of the stockholders to
be held in Charleston, next Tuesday. II
they fail in this--and we have shown else
where that the proposed lease would be as
disastrous to the stockholders as to the
people at large-they will endeavor 10 con-
tinue their purchasing OF stock until they
have d controlling vote, when they will
either compel lease, or, without lease,
work the road against this State, and for
the sole advantage Of the Central Railroad
and OF Savannah.
The first step, then, is to defeat at the
coming meeting any movement looking to
lease OF the South Carolina Railroad, or
to q change in its wise and fruitful policy.
There is stock enough held by South Caro-
linians, whose every interest is in this State,
to reject any such proposal by decisive
vote. The Central Ring must be whipped
and handsomely whipped, that they may
know that this people are not so foolish
as to sell their trade and their commerce,
their whole security and prosperity, for
beggarly and precarious dividend. In order
that this may be done, beyond peradVen-
ture, we exhort every stockholder OF the
South Carolina Railroad Company, who
owns property in this State or city, or who
is dependent for his business upon low rates
of freight and free competition, to send bis
proxy at once to some gentleman in Charles
ton whom he can trust, and whom he knows
to be more deeply concerned in guarding
and fostering the public interests than in
reaplng a profit from stock speculation.
If this be done, and done quickly, the
first attack OF the Central Railroad Ring
will be sharply repulsed. We shall then
have time to carry into effect measures
which will make il impossible for any rivals,
however powerful, to use our main trunk
railroad as means of euriching them, and
OF reducing to beggary community now
fairly recovering from the losses of pesti-
!ence and war.