The Newberry herald. [volume] (Newberry, S.C.) 1865-1884, 1881-08-10
The Boom in Southern Rail
roads.

\ correspondent of the New YORK
Herald has epitomized what has been
done and what is doing in the South
IL the matter of railroads. He toots
up at least l20,000,000 of Northern
aud foreign capital that has been
placed in the South in the late years
for such investments. First, there
was the purchase of old roads and the
getting iu of stock held by our Own
citizens who wauted to change their
investments. Then there was the
building Of new lines, and side
branches, feeders and the like.
Aoother syndicate, called the Gin.
cinnati and Georgia, and organized
with capital of SIG, 100000, is form
;ag a railroad system, with Chattanoo-
ga as the centre, which will extend
through all Southern States East Of
the Mississippi River. Ex Senator
Gordon is the head of another CON-
biDatiou, the Georgia Pacific syndI.
cate, capital sl2,5OO,000, which is
building railroad West from Allan
ia to the Mississippi River. Then
there are the Norfolk and West
ern syndicate of Virginia, capital sll,-
100000; the Erlanger syndicate,
building railroads in ALBANIA and Mis-
sissipi; the Richmond and Danville
syndicate, the Louisville and Nash.
Vile system, all Of which are extend
ing their railway connections and con-
structing new lines in the South.
The Baltimore and Ohio company
has bought the Virginia Midland
road, intending to 60 South, as it has
already gone West. Its ancient ene-
uy, the Pennsylvania Central, ope-
rating through its sympathy with the
Richmond and Dauville syndicate,
has outstripped it and shut it of lo
its Southern race. The last tilt be-
tween these companies was in trying
to capture the Atlanta and Charlotte
Airline. The Baltimore and Ohio
was beaten out of it, although it Of
fered one per cent. more than the
Richmond and DanviIle folks gave.
Being cut off in this trade they have
now commenced building a road from
Danville throuoh central Carolina.
the terminus of their Southern line,
to Spartanburg, S. c. This road,
now nnder way, will cost, built aud
equipped, at least 100000. But
this will not be the end. The elder
Mr.. Garrett, in his report to the
stockholders a few days since, said
that the Baltimore and Ohio uust get
to Atlanta, which is the first point
they can reach where they can get
competition With their rivals. To
reach Atlanta will cost s5,O00,000
more, and it must spend millions
more before it completes its Southern
system.
And now great new lines are pro-
jected, which not only tend to give
greater facilities to the people, but
will largely increase the profits Of ex-
isting roads and help to augment the
prosperity of our section. Among
them ne mentions the Georgia Pacific,
to be built from Atlanta, Ca, to Bir-
mingham, through the coal and iron
fields of Alabaua-heretofore virtu-
ally unpenetrated and the richest on
the continent-and thence to the
Mississippi River. General John B.
Gordon, who resigned his Senator
ship to give himself to such euter-
prises, is President Of this company,
which contains such men as Hugh J.
Jewett, ex-senator Barnuu, of Con-
necticut .. S, Grant, Jr.; George
". Perkins, Of the Mercantile Bank
Z. H. Perkins, Of the Importers and
Traders Bank; Senator Plumb, of
Kansas; W. P. Clyde and several
Richmond, Va, subscribers. The
capital required by this company is
sl2.500,000, which has all been sub
scribed. Work is nov progressing
on both ends of the line and the road
is graded twenty miles each way from
Columbus, Miss, and Atlanta, Ga.
This road will make the most i'm
portant development of the past ten
years in the South.