The weekly Floridian. [volume] (Tallahassee, Fla.) 1867-19??, 1884-07-01
Louisville Courier journal
THE H4OUISVll.IE AND NASH.
WILLIE.
what this Line Has Done and Whnt
il Can EO.

What this Line Has Done and Wha,
il Can DO.
The announcement that MIR. NJ. H. Smith wa,
yesterday elected President of the Louisville ant
Nashville Road ana that Mr.. A. NJ Quarter wa,
| chosen ' ice President will be received with very
general satisfaction hy the merchants of Louis
vile, and will go tar to restore confidence in the
stability of tbat corporation.
1t is n matter of very frs, impOrtance to Louie
| vile that this system of railroads, which has cost
| us so much, be not allowed to disntcgratr Our
| commercial progress and influence are largely
dependent on the unity and prosperity of the
Louisville and Naslvi road. With its growth
we have grown in the past il has had liberal
aid from the city and from our citizens lis
history is To a large extent the history of Louis
vile, and nothing which impairs its Usefulness,
! nothing which niuHs its credit, nothing which
lessons its resources fails to affect iniuri,,sly
and seriously the rity OF Louisville and the
country through wlich the road extends
The physical condition Of the Louisville and
Nashville was never better than it is to-day It's
earning capacity isgrratcr now than ever before
Its recent extensions and connections are Justify
ing themselves ty steady increase IN the
earnings. Its revenues provide fund sufficient
to meet all aCcrllLg obligations, to pay its cnu-
pOns and taxes and provide fund, leaving n
surplus 10 reduce the floating debt The road is
doing this to-day, and the development of the
southern country tributary To it has JUS, begun
And ye with this substantial basis of present
prosperity and taiering prospects for the fntur.
ot tn" road il has Tor Years been steadily losing
credit and involving itself in financial straits
The trouble has not been ut This end of the line
The affairs of the road from Louisville to New
Orleans and from 81. Louis Ia Pensacola are in
excellent condition. II is admirably organized
and is rs economically conducted rs is consis-
tent with the real interest ot ihc Stockholders
The credit Of this condition of affairs is due
primarily to Milton II. Smith His management
from The first has been marked with courage,
zeal and sound judgment He is master of the
situation, h" knows what the road can and what
it cannot do, he knows the capabilities OF the
country tributary to it, and how and when ex.
tensions and improvements will pay.
His services here in the past and his admins
traion of affairs during the recent trying times
have won for him the respect and confidence,
not only of the merchants and shippers of Louis
vile, but OF the whole Southern country
The financial management of the company
has caused the troubles which now seriously
embarraSs il. 1t is not possible to say who has
been chiefly responsible for this-ccrtainly not
one man alone, but il is plain to every one that
the policy pursued for the past four years has
been wrong one, and that il continued it must
lead inevitably to bankruptcy
The election of Mr. Smith as president and
Mr. Quarter as vice-presidcnt plainly means an
entire change OF policy and if il is strictly ad-
hered to il will be the beginning of new era of
progress and prosperity for the company
Hereafter the financial matters, suppose,
will he arranged in Louisville. This becomes
once again the headquarters Of the company.
country tributary to the line, to learn what is
the value Of the stock The change ia TO be, il
must be, radical and thorough in order TO be
affective.