The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1880-03-11
Our Railroad Interests.

The NewS and Courier Of last Saturday
says:
Writing on the subject of the South
Carolina Railroad at the beginning oi
the present week, we said at is evident
that there is no rhyme or reason in pay.
ing from 20a25 for South Carolina Rail
road stock, and 40a45 for Non. Mortgage
bonds, unless way can be found to put
an end to litigation and avert sale o.
the road under foreclosure Of mortgage
Nor IS this sufficient. There must be
likewise On expectation Of such increase
of business as will enable the road tc
carry its present bond debt and make the
stock of potential value. This increase
can oniy come from tho acquisition of OF
close connection with other lines, Civ.
ing the assurance of q larger proportion
of Western freights than can be at pres
ent secured" We did not pretend te
know precisely the intentions of the cap
italists who had the operations liz charge
but said that we were inclined to believe
that what was contemplated was "the
consolidation of the South Carolina Rail.
road with the Greenville aud Columbia
Railroad and the building of the Blue
Ridge Railroad" giving to "she Charles
ton and Anderson line on Independent,
through route 10 the West as powerful
as II competitor for Western trade and
travel, as the Chattanooga and Atlanta
line, and fully Us important" We are
now able to throw additional light upon
the subject.
Tho persons in New York who have
been steady buyers of South Caroline
Railroad securities are acting in concert
There are operators both here and in
New York whose cole object is to make 9
profit by buying to-day and selling to-
morrow, but tho capitalists who quietly
pick up the securities and place them il
their vaults seek permanent and prof
table investment. The most prrninen
purchasers are capitalists who are familiar
with Southern roads, and who thoroughly
understand the situation. 1ney no,o o,ci
about three Jourths ofthe Stock ofthe Soutl
Carolna Railroad, and nearly aNMe Non
1iorfgage Bonds. But they continue buy
ing. The reason is that they have il
view fnr more than the mere control O
the property. They hope to be able t,
get the road out of Court without delay
and they believe that the road will hav,
so glorious resurrection that the inter
est on the whole debt can be paid, and {
dividend be earned upon the stock. The,
hare plenty Of fmoney. They believe tha'
the road will pay. So believing, the,
are determined to own it. In like man
ner 1t is part of the programme to owr
the Blre Ridge Railroad, and such ar
interest in the Greenville and Columbia
Railroad as will enable the Charleston
and Western combination TO use it satiy
tactorily as q link in their line. This il
not talk. The capitalists of whom We
speak "mean business" Already The
drawings for the new, fast and luxuriou,
steamships to he nlared on the Nav Ynrt
and Charleston line are in course of prep
aration. This is "a much as we can di
vulge. Within thirty days moro infor
nation will be given.
There will be some regret, Of course
that the South Carolina holders of the
securities CT the South Carolina Railroad
cannot reap the benefit Of the present
advance in prices and Of the prospective
profits, but this is of little moment IN
comparison with the advantage that the
whole State will derive from the opera,
tions of the new combination. South
Carolina has not the capital requisite fol
developing Interstate commerce. II
takes millions, in these days, TO make
millions. As long as the South Caroline
Railroad was controlled by persons do,
pendent upon IL, there was no opEee:..u
nifty for combinations looking to the ex
tension or keluisition of existing line.
and the completion of missing links
The former bondholders and stocEholderl
Eonld not afford to wait, and were serious
ly embarrassed when the payment of in
tereat on the bonds was suspended, ant
the atock dwindled away ia value. Th,
present owners of tho property can, II
necessary, wait for interest and dividend
for years, and advance, besides, any mon
eys needed 10 give the road q strong stra
gehe position. 1t viii pay them well
and none will grudge them the profit thei
earn. The benefit TO them, however great
viii be insignificant by the side Of th,
benefit enjoyed BY South Carolina ON,
EhaslnstnYls
Our confidence in thejuture OF Charles
ton, which has never been shaken, is re
doubled and confirmed. It Is luck,
chance that sagseious capitalists ar
ready and able 20 do for us what we ar
unable 70 accomplish for onrselves.- =
They have the means. and they ar
abreast OF the timee. This Is everythinI
necessary Co make Charleston liberal
/! progressive and greati
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