National Republican. (Washington City (D.C.)) 1872-1888, 1884-09-27
Denth of John w. Gnrrntt.

America from money wrung largely
from reluctant Wall street spectators
and invested in substantial dividend pay
ing properties. He was q sharp trader
and a daring stock jobber as we'll as a
railroad builder. Col. Scott was dash
ing general, big Drained, and fearless,
with power over men that was amazing.
He planned the wonderful Pennsylvania
railroad system and brought the scattering
fragments together, welding them into
one great machine. During the later
years of his life he was brilliant figure
in tho financial, political, and social
world.
John w. Garrett was different sort of
n man from either Vanderbilt or Scott.
He hewed his path through granite to
the same goal. He laid down his policy
and pursued it for forty years, turning
neither to the right nor to the left and
never looking behind him. He was one
of the most stead fast of men. inhexible
of purpose, and severely honest. There
was nothing picturesque or superb in his
career. He dealt in stern realities. His
history is, to very large degree, the
history of the Baltimore and Ohio Rail-
road company, of which he was the soul
for a quarter of century. Prior to 1857
he was merchant and banker. He was
made director Of the company that year,
and very soon thereafter he became its
president and manager. He so strength
ened his hold that in very short time he
was absolute master of the corporation.
When he assumed control the road was on
the verge ofbankruptcy. Its business was
run down shamefully and its credit was
below zero. He took hold at timo
when there was nothing in sight but
ruin. 1t was not the proper thing then
to appoint receivers for bankrupt roads
for the purpose of legalizing the robbery
Of creditors and stockholders. Instead of
grinding the property through the bank
ruptcy mill, he ran it as he would his
private business, putting it on paying
basis by increasing its revenues and re-
ducing its operating expenses to the
lowest possible limit. This system Of
rigid economy has been adhered to up to
this day, and to this fact may be at
tributed much OF the success that has
marked Mr.. CARROTS career as railroad
manager. Every dollar that was paid out
represented value received. .....
The war gave Mr. Garrett and his road
substantial business lift and put both on
solid ground. Mr.. Garrett was in the con-
fidence Of President Lincoln, and his road
was of invaluable assistance in the move
ment of troops. After paying out and
getting the road firmly into his own
hands he branchod out, not widely or
recklessly, but taking step at time
and looking well ahead before striking
out. The pay-as-you-go policy WAS closely
followed and no branches were built,
alliances formed, or connections made that
did not give promise of fruitful revenues.
During tho whole period of tremen.
dous railroad imitation, dating from the
war and coming to q disastrous climax in
1875, Mr.. Garrett stood out firmly
against reckless adventure and expert
iness training were proof against tho
Establishments that swept majority of
the railroad managers of the time from
their feet and wrecked vast fortunes,
The result has shown the wisdom of his
course.
The stock of the Baltimore and Ohio
has always boon kept down TO ridicu-
lousy low figure, considering the value of
the property. The system now embraces
1000 miles of road, representing an out
lay of 1884, 100000, fully 500, 10000 hav-
ing been put into the plant since Mr..
Garrett took hold. The capital stock,
preferred and common, upon which this
immense structure rests is $40, 792, 566.
The company's indebtedness Is not heavy,
and it has saved from the earnings q $i5,-
100000 surplus fund. From nothing the
stock has enhanced in value enormously.
The owners hold it to be worth $500, al
though the nominal market quotations are
below that figure.
These facts are presented to show what
Mr.. Garrett accomplished. He put into it
the best years Of his life, and he had the
satisfaction Of knowing that he builded
wisely and we'll.
Mr.. CARROTS loss will DO deeply felt
through Maryland and the district.
Fortunately the vast interests he con-
trolled are left In good hands. His son
Robert has been trained to succeed him,
and for two or three years has been the
active head of the mighty corporation.
He is worthy heir of his sturdy father.
Tho deceased has boon in poor health
for two years past, and about year ago
he received shock in tho death of be-
loved wife and the companion of his life
from which he never recovered. He
mournod her death deeply, and his own
days were shortened in consequence.