The weekly Union times. [volume] (Union C.H., South Carolina) 1871-1894, 1880-01-30
Union to be tho Gre1A Tnoroughfare from tho
West to Charleston.

New York, January 22.-The unusual demand,
during the mst few days, for South Carolina
Railroad stock and unsecured bondsis explained
at last. Syndicate Of New York capitalists
prominent among whom are Samuel Sloan, pres
ldent OF the Delaware and Lackawanna Raii oad, ,
Moses Taylor and Richard Lathers, has been
FORMED for the purpose Of taking control of the
South Carolina Railroad and rele ising it from
the litigation which now keeps it in the custody
OF the United States Court, with view to max
ing 1t without delay the terminal link in the
chain of roads which shall connect the great
railroad systems Of the West tsi,h the Ali sntic
seabostd 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. \ fleet of new and splendid
steamers is to be placed the New York aud
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 40, 900
shares of the stock IF the South Carolina Rail
road Company, one of its members alone hold
ing 10000 shares. They do not look to any
unfair combination with other roads, but expect
to win success by dint Of the completion Of the
shortest and most direct route from the OHIO
River to the Atlantic seaboard. They say that
the March report will show the South Carolina
Railroad to be in excellent financial condition.
This afternoon 1850 was freely offered for
South Carolina Railroad stock, but holders were
asking IA, with light oifering.-H. II. III. in
Ne,cs and Courier.
THE SoUTu CAROLINA RAILROAD IN DEMAND.
New York, Friday, January 23.-N1y inquiries
to-day elicit the fact that two parties Of capital
lists are in the field endcavorng to secure the
control of the South Carolina Railroad and of
the Charleston route to the West.
One of the two parties is headed by Messrs.
Samuel Sloan, Moses Taylor and Stout. They
are 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 will
be transferred directly from the cars TO the
steamers and picc versa.
The othcI party is led by Messrs Lathers,
Martin and Talmadge 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 adjustment, by which the
creditors are to make common cause, was laid
before those interested last November.
have had talks with several of the leading
members of the Syndcates to-day. They oil
think that the South Carolina Railroad will be
of incalculatle Importance in the future in con-
heohoh WIN the Cincinnatl southern haliroad,
or as an outlet for the Louisville and Nashville
Railroad. through the Greenvilc and Columbia
railroad. There is even talk on the street to-
day of an effort on the part of the Louisville and
Nashville Railroad to complete their capture OF
the Nashville and Chattanooga road by getting
possession of the South Carolina Railroad.
Mr. Talmadge, Sr., i doubtful of the success
of the plan of recognizing the South Carolina
Kailroad. subject to the first Mortgage bonds, MS
proposed by Messrs. Lathers, Martin and Tal.
mad Se. He thinks that to-day's prices of the
stock and bonds are too high, considering the
danger that the stock will be "wiped out" in
the United States Court in April or after on
appeal to the Supreme Court.
The Sloan party are extremely reticent, and
evidently do not desire TO talk to outsiders
There is strong hope, however, of an amicablc
operations Of tRef% %SNgt and the effect of the
-..--,-..-i hands higher up: To-day .ne sT Ine'"