The Orangeburg news. [volume] (Orangeburg, S.C.) 1867-1875, 1873-03-29
lcoNAuxioArEp.J
The So. Ca. Railroad.

Inc ctfcular ietter (PuoliBned In
the Charleston Daily News of the 11th
March, of the Committee of the Board
Of Directors of the 3. =. r. r. Co., is
by no means satisfactory to the dissa tis-
fed Stockholders. 1t attempts to show
what the Road has earned, and how the
earnings have been applied-this is all
very we'll as far as it goes, and the in
vcstmonts 10 doubt were judicious
enough, of which no one complains, but
We do complain that tho Road 10 inju
diciously and most extravagantly man
aged !
There are too many high salaried
officers, to many bureaus, too many
supervisors and too much red tape for
an institution, which has paid no inse
rest for 4 period of seven years, al
though the receipts have beeH seven
mllions of dollars during that time. In
auto bellum times, We had one President,
one General Superintendent, one Audi
tor, and few necessary books and pa
psrs n. each depot on: the Road. The
Stockholders then received regular and
rcnluuerative dividends, especially so
under the administration of Mr..
John Caldwell. Although when Mr.
Caldwell went into Office the Road was
in deplorablo condition, there was then
no complaint about the management Of
tho Road. Under the present regime,
We have President, Vice President
Treaauror, Auditor, Assistant Auditor,
General Freight Ag, MT, General Ticket
Agent, Lsod Agent aud Travelling
Agents, with ipnumerable Bureaus, aud
any quGntitys OF Books and Papers
enough in ii candor to confuse auy
lawyer or expert accountant, and the
Stoekholdsrn1get nothing on their iu-
vesshsnts but'the entire net esruings of
The Road is required to pay salaries f
the multiplicity of ..fi ara, operativ es
and travelling agents.
The Committee say: "Therc are no
Stockholders more deeply interested or
more earnestly dsairous Of receiving
dividends than tbs Directors them.
selves"
We say if such arc your real sen.i-
msnts, and knowing N you assuredy do,
that there is great dissatisfaction, both
entertained and exprsAssd, by many of
the Stockholders (and even outside
parties), with your management, why do
you not exhibit some magnauinity and
Independence Of character by resigning,
or dcclining to be re-eie sted, and request
the Stockholders in convention, without
any log rolling or clique, or the inHu-
sncs Of any particular ring, to nominate
aud elect Board Of Directors in whom
they can repose more confidence. Why
should you sssume to yourselves the
entire management and oontro, of an
en'sHprise which belongs alike to all of
US. What justice is there in confinug
that management with but two or three
eIceptions) to the City Of Charleston.
We want !competent and skilfull officers
to manage the Road, who will give their
personal attention to the interest Of the
Stock holsers; and who will be satisfied
with removable compensation at least
until the Stockholders receive some re.
turn for their investment, or until the
business will justify more liberal rates.
We want fewer Of them at present be-
cause we believe that several incumbsnts
with their bureaus can very appropriate
ly be dispensed with. We want TO cur
tail the enormous amount annually ox :
pended for books, stationary aud ptiut-
ing, and do away With the unnecessary
labor involved by such expenditure,
We want Board Of Directors who
will attend to these deductions, and
who shall bo selected for their
business capacity, energy and dis
cretion, from all sections Of the country
and not confnsd to any one particular
locality. "And ws respectfully urge
upon the Stockholders tho duty and
advantage of punctuAl and general
attendance at the approaching Cosvsn
tion," to give their votes aud influence
to the accomplishment Of these ends.
ST. MATTHEW'S.