The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1894-05-22

aodltlon 10 thsS charge Will be directl,
applicable to dividend on the stock
of which $5,000,000 have been issue,
by the new company, four million o
which, 1T Is understood, is held by Mr.
| Parsons and his associates. l ventur,
the prediction now that this stock viii
receive dividend from the first yea,
OF the new company, and that this di
| vidend in good time will be equal t
the dividend upon the mortgage debt
The railroad is now certain to be
managed with tho utmost energy, skill
and economy-especially economy.
In enforcing this policy it will un
doubtedly be the policy of the new com
pany to enlist the cordial sympathy
and support of Charleston and of the
several communities upon which the
railroad must largely depend for its
support: Not only this, but equal ef
forts will be made to attract to this
port heavy volume Of Western bust.
ness, such as has already begun to move
through Port Royal, u business which
charleston can now compete for as she
never could before by reason of the
magnificent success of the Jetty work
under Capt. Abbot at Charleston har.
Dor. 1t is significant and full of good
promise that simultaneously with the
formation of the new South Carolina
and Georgia Railroad Company it is
authoritatively announced that there
are twenty-three feet of water on the
Charleston Bar.
AS part of tho policy OF the new
company 1t has already been announced
but may we'll be repeated, that no rude
or rapid changes will be made in the
personnel of the officers and employees.
The new company will put all these
men upon thoir merits and will deal
with them precisely as | have tried to
deal with thcm, fairly and justly upon
their merits, always giving preference,
other things bcing equal, to those al
ready in the employ of the company
and drawing Tor future wants upon the
communities in which the railway is
situated. There will doubtless be chan
ges as there has been heretofore, but
what | mean to emphasize is that the
new company will take up the property
and its officers and employees as they
find them, and continue them until eX-
perienco shall show from time to time
that changes are expedient. Mr.. Ward
as is already known will remain as gen.
eral manager"
Governor Chamberlain was here re-
minded by reporter that many people
had expected to see him occupy pro.
minent official position in the new COM
pany. To this he replied:
Yes, q great many people have been
kind enough to say that they had hoped
and expected such result from the
purchase and reorganization of the
road by the Messrs. Parsons. Tho
truth Is there has never been q possi-
bility or an expectation on my part of
holding any such position. Railroading
is not my profession and am quite too
old to change. No company owning the
South Carolina Railway property could
possibly afford to pay me salary
which would make it to my interest to
leave my profession in New York. l
should nev;sr have taken the receiver
ship If l had supposed that it would
continue more than one year or two
years at most.
81 am glad now that in the course
probably of a month l can wind up all
the affairs of my three receiverships
here and return to my professional
work in New York. | confess | am
fond of Charleston and South Carolina,
but particularly of Charleston-of her
climate, her people, antsher social and
public life. [ have felt and shall al
ways feel, the deepest interest in the
prosperity of her people of both races
and of all parties. Strange things have
come and gone between me and tho
people OF South Carolina. Few men
have seen and felt greater contrasts of
sentiments and relations. The result on
my part is, as believe it is on the part
of the people of this community, that
we each have a cordial respect each
for the other. That respect hope al
ways to have and to hold, and expect
always to be judged by this community
with grace and Kindness"