The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1874-12-05

IHE SOUTHERN SECUR1TY COMPANY.
Shortly alter tue war, when the South.
paralyzed and almost hopeless, with
it's railroad communications literally
s'brokeu up," WAS casting about for
aome means OF refrigeration, Colonel
Z. +. Bridgers. OF Wilmington, II. G.,
made en- appeal to Baltimore for aid.
Messrs. w. T. Wnltere, b. f. New
comer, Thomns O. Jenkins. Horace
Abbott. George S. Brown, William Fl
Graham, 8. III. Shoemaker, and other
liberal-minded capitalists of that city.
promptly stepped forward and adj
vauoei tiie means with which TO repalr
and restock the Wilmington and VOL
don Railroad, and to erect the splen.
did iron bridges which nov span the
'wo branches Of tue Cape Fear River,
AMI also to reconstruct. re-ennip and
nx'end 10 Columbia tha old Whining
ton and Manchester, now tue W,lmIug-
ton, Columbia and Augusta Railroad.
furnishing for these purposes come
81 100000. On April s. 1871. the
s 'ufhorn Security Railway Company
was organized by Mcssrs. Cass, Scott.
Walters. Newcomer, Cameron, Plant,
Jesup and James, ul men of lnrge
means. through whose influence So, :
QUO. 900 Of capital stock were sub
acribed and paid in. The first prn-i.
dent OF the company was General G..
w. Cass, who Was Succeeded by Jaues
Roosevelt and W. q Hughart. 10
March last, the office wma transferred
to Columbia. s. G.. and Culuuel Johu
B Pnla,cr. President ol the Ceutral
National Bank. whose integrity und
duancIul ability are 81 we'll known, wae
elected President. The other off i,.crs
| are V'ce-Presidents Il. Il Plant. ESQ
of New York. aud Hon. Il Il. Bridger.,
OF North Carolina. the latter being
General Manager B. T. Newcomer,
Esq of Baltimore. is Treasurer.
The object Of the organ'z ,tion WAS
l." secnre the cnutroI of such Southern
roads rs might be essential To form
through liues between tile principal
cities 1T tho S,mth aud Baltimore aud
more Northern citios. thus Offering IN
cre"scd facilities for through freig;lis
aud passengers, anu at such rates Us
would tenh to develop the SECTIONS
'raversed The company nearly invest
ed 81 ,OO0. 000 IN purchase OF stock OF
S"nthcrn railroads. completed the oon-
.trnction of the Ripley Railroad in
Mississippi, and the Air Line Road
from Charlotte, n. g.. to Atlanta, Gu. :,
the latter rnad, which has since been
sold to the Pennsylvania Railroad
Company. requiring n very large ont
lay OF money IN addition to tho amounts
above referred 10.
The following are the roads now
u t,,V .
Security Company: Charlotte. Colum u
oia and Augusta Railroad, I95 miles
Wilmington. Columbia and Augusta
Railroad. 1888; Cheraw and Darlington
ituIroad, 40; North eastern K.ilru.d,
lO2; Wilmington aud Weldon Rail.
road, 1Sl; Richmond and Petersburg
Rallroud, 25. Total 73l.
Some idea Of tue Value of th. COM
pany's propurty can be derived from
the fuct thut the gross income of the
foregoing roads amounted. last year,
to S2.S5D.6l0 0G. and tho net income o
to Sl.O60. $50 A., AZ shown by their
printed reparts.
1t is due to this liberal minded ex.
penditure of capital. on the part Of
the gentlemen constituting this csm
t''Jp '""I 'do .o'utuct ptuplCi ~ III
eviderce of their appreciation of what
has been done for their material pros.
perlty, should extend to it's liner Of
railroad, and its business generally,
their full sympathy aud encourage
ment, ns to this enterprise the South,
aud this portion Of it particularly, is
greatly indebted. It has resulted in
the expenditure Of millions of dollars
IN the States of North aud Sonth ca.
ro!ina aud Georgia not con-
tribntcd by Southerners, but by ci,i-
Zrns Of Dnltin.ore, Philadelphia. New
York and Enrore; TINS adding directly
To the wealth of the country. Tho
building Of the AIRLINE alone has
opened up Que at the finest sect,ous
OF the Son'h, that but for the action
"t the capitalists We have mentioned
wonld have h&.n. for many years, shut
"n from n market. Az the southern
.ilway Security Company is now
rmphnlicaliy Southern institution,
With its OH :cs. cili :ers and all its in.
ierests in the South. it is to be hoped
that, uI such, it will com mcnd itself TO
tue people whom it has so greatly
benefited.
OuTI.AwKY IN PENNSYLVANIA "A spc.
clal despatch to tho New York HcrutQ
from Scranton. Pennsylvania, Ge.
scr,bes q terrible condition of affairs
III that section. and says reports Of ex-
CniSeS rOnmitfrI bv tba Mollv Nu