Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1881-06-01
CLEARFIELD, Pa. WEDNESDAY, JUNE l. 1881.


4. the Union and Empire Lines and OF
n tain for the parent company any pro-
a that might result from their operatio
!. When the growing commerce of Phil
d delphia neeessitated the establshmel
d OF steamship lines they received b
I hearty encouragement and support
c and, in fact, every measure whic
n served TO increase the usefulness of I'll
Q road and benefit Philadelphia had
him firm and unwavering friend,
!, Nor were bis efforts confined to th
: development Of the Western system
! Not even second to that was his col
viction that the local resources {
! Pennsylvania deserved the fullest eT
couragement, and every branch roa
> that promised reasonable return upo
! the Investment enlisted bis active sur
y port. The Pittsburgh, Virginia an,
Chalestown, Southwest Pennsylvania
Bedford and Bridgeport, Sunbury an,
Lewistown and score of others ow
much TO his generous and hearty ca
operation. He was keenly alive, alsC
to the requirements Of our great lin,
In the matter OF terminal facilities anC
periecting communications, and th,
Connecting Railway, junction Rail
road, River Front Railway, Delaware
Extension, Elevated Road and Other
such projects were promoted by biz
sound judgment.
FINANCIAL FORESIGHT.
The lessons of 1873 and 1877 were
not lost upon him and after careful
examination of the whole ground and
a review Of the obligations resting
upon the company, he maturod and
had approved by the stockholders the
trust fund which is now fairly under
way and under tho provisions of which
the liabilities Of the road in the shape
of guarantees and Endorsements will
be surely and efIectually provided for
out of ITS surplus revenues.
Having provided this grand sinking
fund for the future, having seen the
property OF accompany put in superb
physical condition, its finances thor.
oughly established and its stock paying
regular and ample dividends, Mr.. Scott
could not have chosen a more fitting
time than he did TO retire from IT'S
services. And yet we can realize, IN
the manly and touching language Of
bis letter OF resignation, the keen re.
gret with which he severed relations
that had extended through nearly two.
thirds of his lite and which had as.
sociated with them the most gratifying
recollections Of faithful support and
adherence to the interests of the com.
pany on the part of those in every de-
partment of the service. And yet in
this hasly resume of his railway career
we have omitted moro than enough 10
have made the fame OF any ordinary
man. In addition to the tremendous
labors connected with tho lines of the
Pennsylvania Railroad he twice gave
himself to the service of his country
during the civil war, once opening the
road 10 the National Capital when it
was in sore peril and again transport.
ing two army corps to the relief of the
beleaguered garrison of Chattanooga
and snatching from the enemy an al.
most certain victory, which would have
been of fatalimport to the cause of the
Union.
Again, when the Union Pacific Rail.
way was in sore financial trouble he
came to its rescue, became It's chief OK
ecutve for year and restored il to it's
shareholders in admirable condition,
and with its securities greatly enhanced
in value. Here were over one thousand
miles of road added to his other cares,
and yet the burden was assumed
without doubt or shrinking. Again,
when the Southern Railway Security
Company was formed to reconstruct
the Southern railways and put them
on sound footing, he was the ruling
spirit in that enterprise and gave bis
money and brains to the seemingly |
hopeless task, at the expense of mid.
night journeys and hard work when |
be should have had perfected rest and |
now other men profit by bis labors
But next to the Pennsylvania Rail. |
road his name is isindssolubly connected |
with the great Southern road across
the Continent, tho Texas and Pacific |
Railway, whose construction he urged |
and whose battles he fought with un.
faith and unremitting ardor
for nine years past. Succeeding the
late Marshall o. Roberts as its Presi.
dent in 1872, he was quick to see the
national Importance OF the route and
The favorable geographical and climatic
advantages which ii possessed, and al.
most devoted his life and fortune to its
completion. When in the full
.ide Of success the panic OF 1873 gave
m almost mortal blow to all uncom.
pleted enterprises and prevented the
Of American railway bonds
abroad, be did not hesitate to risk his
personal fortune in the undertaking,
md became ITS indorser to an amount
hat was only warranted by the sound.
,st faith in the future. When Con.
yress was called upon TO aid the work
~ having the United States guarantee
he interest on the amount Of bonds
necessary to build IT at the
hen minimum rates for material and
abor, he spent week after week at
during each session, pre-.
enting its advantages as competing
cute and urging the Government not
o lot the golden opportunity pass to
ecure Transcontinental line in
ho interest Of the people and
gainst the existing monopoly. Time
las shown the wisdom Of the course
10 then urged, and it is not his fault
hat the entire through commerce be
ween the two oceans is now controlled
y private capital and in a private in.
crest Time has also proved the sa.
acity with which be weighed the
alue OF this national highway, and
be securities which could not be sold
even years ago are now above par in
he market.
DURING THE RIOTS.
Never, perhaps, did Mr. Scott appear
better advantage than during the ,
lots Of 1877, and never was there
lore need of the personal and moral