Savannah morning news. [volume] (Savannah) 1868-1887, 1883-03-31

which appeared recently i'm the columns
Of the MORNING News, headed ''Retro-
spective,' was one of much interest to the
citizens of Savannah, and served to place
before the public i'm strong light the pro-
gress that has been made in the onward
march of our community, through the en-.
ergy and sagacity of our enterprising
merchants in the long past-the immense
impulse given by the construction of the
Central Railroad, first from Savannah to
Macon, then by the extensions to Atlanta,
to Columbus, to Augusta and to other
points, and, at a later day, by the
building of the Savannah, Florida and
Western Road, with feeders from Florida
and the ChattahOOchee valley. 1t was but
lust in the writer of the sEretrOspective''
TO give credit to whom credit is due-the
''merchant princess of earlier davs. who
were the foundation stones of the stable
structure that has been erected thereon
by their enterpriSing successors. Among
these princes were the ScarbOrOughs, Gas
tons, Cummings, Lows, HabeTshams, An
dersOns. Henrys, WilliamsOns. Kings,
Burroughs. SOrrels. Greens, Duncans.
Reeds, Gaudrys, Bottoms, DeVillers, Hut
chsOns. SCOTS and many others. These
are the men who gave reputation
and strength to the commerce and bust
ness of our beloved Savannah, and they
were ready, when threatened by encrOach-
ment from without, to employ their sub
stance i'm defense of what they had estab-
lished. When our neighbOr, Charleston.
constructed her first railroad, connecting
Augusta with her harbOr, and thus tapped
our river at vital point, these sagacious
merchants saw the necessity of united
and prompt action. Greater facilities of
transportation by land and by water must
be had. Improved boats were placed on
the Savannah river, and vigorous meas
ureS were taken to connect our port with
the interior of the State. This
great work for land transportation was
entrusted to William W. Gordon. who,
with the aid Of others, promptly applied
to the Legislature for a charter to con-
Struct canal and railroad to Macon
nearly two hundred miles in the interior
\ most favorable charter was obtained.
and the building OF "a road cOmmenced-a
work in that day of immense extent. So
great indeed was the undertaking that
Gordon, the pioneer, did not live to see
its completion; though she gave his
time, his talents, and finally his life" to
the great enterprise. His death occurred
on the Goth of March, 1912, when Richard
Il. Cuyler, a man of great talents and
varied attainments, was called to the
Presidency of the unfinished road.
At that time the company labOred under
great financial embarrassments, causing
many of its most sanguine supporters and
stockholders to apprehend final bank
ruptcy. But the executive control had
been wisely entrusted to able hands,
which upheld its fortunes through long
period of depression. and carried it for
ward to the days of its greatest prosperity
the days just preceding the war be-
tween the States,
In 1854 the affairs of the company had
reached such degree of prosperity,
through the able management of Mr..
Cuyler. that il paid a dividend of per
cent, to the stockholders in June, and
would have paid another in December of
that year had il not been for the yellow
fever which ragged through the summer
and fall. Seyenty-three thousand dollars
Of the cOmpany's bonds were paid this
year.
In 1855 the company paid dividend of
per cent. in June and per cent, in De-
cember.
In 1856 a dividend Of 5 per cent, was
paid i'm June and per cent. in December,
and $249, 454 carried to reserve fund.
In 1857 dividend of per cent. was
paid in June and > per cent. in December,
and $131 ,694 placed to reserve fund.
In 1853 dividend of . per cent. was
paid i'm June and , per cent. in December,
and S2J9, ,30l added to the reserve fund.
In the year 1859 $6OO,OOO were paid i'm
dividends to the stockholders, making II
per cent, for the year, and SlS5,644 carried
to the surplus fund, and Sl2O,O00 apprO-
priated for a depot building.
In 1860 semi-annual dividends of per
cent. were paid in June and December,
and $3777 $50 paid into the reserve.
To recapitulate: During the seven years
lust before the war 1854 to 1860 inclusive) J
6S per cent. was paid to stockholders
equal to 9 5-7 per cent. per annum-and
| 81. .2O4. 143 were added to the reserve fund.
During the same period a line of steam
ers was established between Savannah
and New York by the Central Railroad
and Banking Company, composed of the
Cherokee. Tennessee. Alabama, Florida,
Augusta and dknOXYille-bOats well suited
to the wants of that day. They added, at
| once, largely to the business of the road,
| by giving the company power to take
| frpights on Through" bills of lading from
! interior points to the city of New York,
| and at the same time gave an increase OF
up-freights by their return cargoes of mer-
chandise. These steamers were kept in
active and profitable service until inter-
rupted by the war.
In the annual report of Mr.. Cuyler, De
cember ., 1861, appears the following
paragraph: ''In the item, Stocks in other
/ COMPANIES. AueIH II lllCluucu tuc sum VI
$500. .a35 62, being The amount invested by
the company in steamship operations.
We have adYices of the winding up of the
/ comDanies in which the investments were
made. and of the remittance to England,
on our account. of sums which, with the
premium we are likely to receive on ster-
/ ling bills. will more than cover the afore-
said sum of $360,g35 g." Thus, by wise
and prompt action, the President, Mr.,
| CuyIer, saved the amount invested IN
steamships running between savannah
and New York. and placed the funds in
England where they were safe from the
enemy and most valuable TO the Central
Railroad Company.
During the war between the States Mr..
Cuyler administered the affairs of the COM
panv with great skill and energy, accom-
plishing wonders in the transportation OF
| troops and supplies for Confederate forces
| in Virginia. the CarOlinas and Georgia.
/ With the close of the war closed the no
BILE and useful life of r. 4. Cuyler, the
second President of the Central Railroad
and Ranking Company of Georgia, made
| great by lis neyotiOn and transcendent
abilities.
The great trust which had been so faith
| fully performed was surrendered with his
life. and soon afterwards was placed in
the hands of a worthy successor, William
NJ. Wadley. whose executive services,
being of recent date, are well known to
our people: sANANNAAH.
skinny Men.
Lna IN