The Cairo bulletin. [volume] (Cairo, Ill.) 1872-1878, 1876-07-30
THE ILLINOIS CENTRAL.
changes in the ManRgement-AnO
kOmOred Troubles of the Road.


tspringiield Ills., Journal.)
The telegraph brings the somewhat
startling news that John NJ. Douglas,
Esq, has suddenly and positively declined
TO longer serve as the president of the IL
linois Central railroad company, and will
retire from its service at once, severing 4
connection that has continued for more
than twenty years past.
The public will be somewhat startled
by the action of Mr.. Douglas, and il will
be quite impossible to prevent inquiry
into the causes which have resulted in
his abrupt withdrawal from a position
which he has so long and so honorably
and successfully filled.
Rumors are rife that the Central is in
trouble; that there have been many mis-
takes made, blHnders committed, and
downright folly INDUCED, which now
threaten the future success OF the man.
agement of tn affairs of the corpora
ton, for which Mr.. Douglas will not be
held responsible, and to which he ought
not TO be made party; that measures
have been inaugurated, and vast transac-
tons had which Mr.. Douglas has never
willingly assentcd to, and Tor the evil re-
suits of which, an attempt is being made
10 hold him responsible; that the foolish
and headlOng blunders of others are now
attempted to be laid at his door, and that
he retires from the presidency of the
company to escape the gross injustice of
the somewhat extraordinary course at
tempted to be pursued by members of the
Executive Committee in the city of New
York.
AS the Illinois Central railroad com
pany stands on wholly different rela-
ton TO this State from that of all Other
companies, the people being interested in
its welfare and success forever to the eX-
tent OF seven per cent of its gross earn
ings, the Journal wishes nov, very brief
ly and generally, to allude to some OF
the rumors that accompany the retire
mcnt of Mr.. Douglas, and to merely men-
ton some other facts connected with the
history OF that corporation.
few years agO-say about lS70-it
was very generally understood that the
condition of the Illinois Central railroad
company was one of great success and
prosperity that the proceeds of the sale
of its lands, a gift from the federal gov
ernment through the State of Illinois,
had very nearly paid Off its bonded debt !;
that lands remained which, with the bal
ance OF cash on hand. would fully dis
charge all its debts and leave the com
pany wholly free from any mortgage
| obligations whatever. Besides, the com
pany hau for many years paid an annual
dividend on its stock of ten per cent free
rom all taxes and the seven per cent. to
tlie state-a sum varying from S4OO,OOO
10 nearly SJoO,OoO per annum. Its con-
hections IN the northwest were the results
oi great caution, care and foresight, and
promised, without large OUTLAWS of money
10 secure with certainty fair share OF
Tue remuneratiye transportation OF the
staple products OF Iowa and Minnesota.
connections having been arranged to the
horlhward with iar-reaching sagacity
economy ana foresight, it became heces-
sary-on account Of the construc-
tioh Oh the 81. Louis and Iron Noun
tam raiiroad to point on the Ohio river
opposlte Columbus, Ky, the termi-
nus OF the Mobile and Ohio railroad, and
Tue business arrangements OF the two
companies at that point, and the opening
Oh me CAIRO and Nincennes railroad-for
thc oehtrai 10 give some attention to
southern business and Southern cOnnec-
lions.
Inc lines OF the New Orleans, jackson
ana Great Northern, and the Mississippi
Sehtrai railroad companies extended
iroii New orleans To Jackson, Tennes-
see, one hundred and seven miles south
OF CAIRO. jackson was the connecting
point OF these lines at the North with
the MoDiie aud Ohio railroad. At Hum
Doidt, twenty-three miles above, Is the
connection on the last named road with
the Louisville, Nashville and Great
southern railroad. Here the bust
ness OF the Southwest, Tor