The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1881-07-28

anu oaSdCity, WHO are estimated 10 be
worth anywhere from 100000 to
$1,000, 900, and Gen. L. NJ. Logan. Gen.
Logan is the attorney of the Syndicate
and. without large fortune, has by his
Industry and sagacity amassed q very
pretty property, and is in the way OF
adding very largely to it by the realiza-
ton of heavy investments in the near
future. lie is one of tho leading spirits
in the Syndicate, is the head of tho con
struction company that has charge of
building the new lines. There is proba.
bly, no man in the company whose opin.
ION IL worth more than his, in weight or
accuracy. He will be remembered as
perhaps the youngest General in the Con-
iederate army-certainly one of the
Youngest. He is South Carolinian by
birth, man of small stature, but is
Dullt entirely of nerves, muscles, and run
oy electricity. These, then, are the men
who maze up the controlling junta of
the Clyde syndicate-W. z. Clyde, tho
three Perkinses, the two Stewards and T.
NJ: Logan: OF course, there are trusted
ofhcials who own part of tho stock, and
who have executive charge of the roads
In the system-but these are the men
who control. And now, what is it they
control?
The affairs of this Syndicate, vast and
outstretching as they are, are controlled
by very small bulk of stock. The
Richmond and Danvillo corporation is
the key to the situation. 1t is the organ
ization through which all the work is
done and the responsibilities assumed.
Owing to certain legal difficulties in the
way of the railroad company making
leases and purchases, various subsidiary
organizations have been made, but they
are always controlled by the same men
who control the Richmond and Danyille.
For the purpose of building new roads,
construction" companies are formed, but
these are always otIicercd and controlled
by the men Of the Syndicate. The cor.
poration is sometimes changed bit. and
often made closer, but the essential ele.
ments of organization are ALWAYS tho
same. In one way or another these gen
t!emen control now over 800 miles of
railroads that are laid like webs over the
Carolinas and Virginia and command the
northeastern section of Georgia. Be-
sides this they now have projects that are
well.defincd that involve the building of
about 700 miles more. Indeed the future
OF this company is hard to limit. Its
alliance with Gen. Gordon and his asso-
ciates opens the way into the Southwest
where Jay Gould says "the empire of the
future is enthroned." Already assured
of route to the Mississippi River, and
of ut least four feeding lines in Alabama
and Mississippi, through the Gordon
Syndicate, the Clyde people may very
well lift their eyes to Mexico and the
Pacific. This close alliance with tho
pennsylvania Railroad people gives them
the very best of eastern connections and
good base from which TO push out.
The progress Of this syndicate has been
partly the result of accident, but almost
entirely the result Of the DEVELOPMENT Of
the South as field &c Investment and
the sagacty of few in discovering
this. The Richmond nd Danville was
broken down, of course, during the war.
Alter the war the Pennsylvania Road,
through one of its auxiliary companies.
advanced it considerable sums of money.
In short time few gentlemen, seeing
that 1t could be bought cheap, organized
the Clyde syndicate and purchased it.
Inc hrst intention was simply to patch it
up, and when it had appreciated in value,
sell It. The men in charge of it seeing,
however, that there was great oppor-
tunlty ahead for the men who were
shrewd enough to fuse into one system
the disjointed roads of the Atlantic coast,
made the Richmond and Danvilc the
basis from which they organized their
present schemes. The total stock of this
road is only S4,OOO,OOO, or 10000 shares.
or this stock the Clyde Syndicate holds
2s0OO shares that is permanent invest
ment and put away for the purpose of
holding the control of the road against
ell corners. Of the remaining $4,000
shares, about 5000 are held by the mem
bers of the syndicate individually or by
their friends There is consequently
very little on the market, and a brisk
buying movement, inauguratcd q short
time since by Mr.. John james and Mr..
Hugh Carlise, the price was put up enor-
mously before they could secure three
thousand shares. 1t is doubtful if there
Is case on record where SO small block
of stock as the Clyde people now hold in
the Richmond and Danville, less than
S3O0O,0 900 at par value, and which cost
them less than S2,000,OOO, gave and
maintained absolute control Of such an
enormous system of completed and pro-
iected roads.