The weekly Union times. [volume] (Union C.H., South Carolina) 1871-1894, 1880-01-30
Union to be the GreSl Thoroughfare from the
West to Charleston.

New York January 22-The unusual demand,
during the mst few days, for South Carolina
Railroad stock and unsecured bondsis explained
Mt last. A Syndicate Of New York capitalists,
prominent among whom are Samuel Sloan, pres
ident of the Delaware and Lackawanna Raih oad,
Moses Taylor and Richard Lathers, has been
formed for the purpose Of taking control OF the
South Carolina Railroad and rclc lsinS 1t from
the litigation which now keeps it in the custody
of the United States Court, with n view to max
ing it without delay the terminal link in the
chain of roads which shall connect the great
railroad systems of the West with the AtlSntic
seaboafd at Charleston.
If the plans Of the Syndicate are carried out,
the road is TO be managed with such energy as
will speedily render Charleston the leading ship
ping port south Of New York. Sixty miles OF
road are to be built immcda,ly to connect the
South Carolina Railroad via Spartanburg, Hen.
dcrson and Wolf Creek, with the Cincinnati
Southern Road. a dcct Of new and splendid
steamers is to be placed on the New York and
Charleston line. These, it is said, will eclipse
those now plying on the Savannah line, and are
intended, amongst other things, to accommodate
the Florida trade.
The Syndicate already own about 10000
shares Of the stock IF tho South Carolina Rail
road Company, one Of its members alone hold
ing 10000 shares. They do not look to any
unfar combination with other roads but expect
TO win success 10y dnt of the completion Of the
shortest and most direct route from the ONO
River to the Atlantic scaboard. They say that
the March report will show the South Carolina
Railroad to be in excellent financial condition.
This afternoon 1880 was freely offered for
South Carolina Railroad stock, but holders were
asking H. with n light oifcring.-l. IL. H. m
Nc,cS anil Courier.
The SoUTm CAROLINA RAILROAD IN DEMAND.
New York. Friday, January 23.-My inquiries
to-day elicit the fact that two parties OF capital
lists arc in the field cndcavoring to secure the
control of the South Carolina Railroad and oi
the Charleston route TO the West
One of the two parties is headed by Messrs.
Samuel Sloan Moses Taylor and Stout. They
arc buying up the bonds and stock Of tho road,
with the intentions described in my dispatches
yesterday. They say, in addition, that canal
will be cut across Charleston Neck, and the
South Carolina Railroad have its terminus upon
the canal so that cotton and other freight VIII
be transferred directly from the cars to the
steamers and uicc
The ohcr party is led by Messrs. Lathcrs,
Martin and Talmadgc. They are working to
ward off the threatened sale of the road In con-
sequence of the litigation in the United States
Court. Their plan of djustmcnt, by which the
creditors arc to make common cause, was lad
before those interested last November.
have had talks with several of the leading
members of the Syndicatcs to-day. They oil
think that the South Carolina Railroad Will b'
of incalcuallc Importance in the future in con
nection with the Cincinnati Southern Railroad
or outlet for the Louisville and Nashville
Railroad through the Grccnvillc and Columhi
Railroad. There is even talk on the street to
day of an effort on the part of the Louisville ant
Nashville Railroad to complete their capture o
the Nashville and Chattanooga road by gcthn
possession of the South Carolina Railroad.
Mr. Talmadgc, Sr, i doubtful of the success
of the plan of reOrganizing the South Caroiin
Railroad. subject TO the first Mortgage bonds, n
proposed by Mcssrs. Lathers, Martin anu Tai
maLgc. lie thinks that to-day's prices of tn
stock and bonds are too high, considering tn
danger that the stock will be "wipcd out II
the United States Court in April or after al
appeal to the Supreme Court.
The Sloan party are extremely rctlcent, AM
evidently do not desire TO talk to outsiders
There is strong hope, however, of an amicabl
nnera,ions oftRSt%JNGt and the effect ;S. OF tn
p."...I Lonls higher up. To-day inc T%V'' tI