The gold leaf., 1909-11-04
Wonderful Enterprise
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W WOnQerIu enterprise.
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that factories and railroads and
lighting plants may operate, that
steamships may run and the world
keep warm. Again work had been
begun on the Panama canal and Mr..
Carter realized that many million
more tons of coal would be needed
for ships bound for the canal. A
coaling station would be needed.
The financiers gasped when the fig
ures were presented. They sent ex-
perts and other experts and they all
reported the coal supply inexhaust-
able. The fuel could be marketed
by building Mr. Carter's road and he
alone had the key to the situation.
There were the railroads and cotton
factories in the South crying for
cheaper fuel, which the new road
would make possible by reducing
the haul several hundred miles.
All that looked good, but it re.
quired millions and millions to build
the road. 1t would be a great while
before bonds could be sold on such a
proposition.
1t was Thomas Fortune Ryan, the
most daring capitalist probably in
the world, who saw the opportunity.
He had some large railroad interests
in the North and others in the South,
all of which were considered. This
woc opotbor ir1Dooypopf for hin, IN
take hand.
In the world of finance, where Ryan
leads, others quickly follow. He Or
ganized a syndicate and included in
it Norman B. Ream, of Chicago, late
owner of the Erie; Thomas Jefferson
Coolidge, of Boston, James A. Blair
and others, of New York. They start
ed Mr.. Carter to work, giving him
money as fast as he could use it. For
four years he has almost shoveled
the money out and has accomplished
wonders. He left the sections easy
Of construction undisturbed, after be-
ing carefully surveyed. He tackled
the long fills, tunnels and cuts in the
mountains. The first funds we're
used in overcoming the greatest OBJ
structiOns, so that the most nearly
impossible was soon overcome, and
the other came easy. Many tunnels
were built, including two almost a
mile in length. One of them is said
to have cost $5OO,OOO, while for
miles in the mountains the road cost
as much as 100000 mile.
When the panic of 1907 came along,
construction work was suspended
practically everywhere, except on the
Carolina, Clinchfield & Ohio Railroad
and the Panama canal. Uncle Sam
and George L. Carter kept on dig
ging. Uncle Sam continued to assail
the Culebra mountains and Mr.. Car
| ter continued his assaults on the
great chain of tunnels, seventeen OF
them within eighteen miles distance,
and costing quarter of a million
dollars mile.
The result of the expenditure of the
immense amount of money in the con-
struction of the road is that it is a
model railroad in every respect. The
low grade of one-half of 1 per cent.
| was arbitrarily maintained, regard
| less OF cost. At times vast sums were
| lost in construction work done before
it was found that it would not admit
the required grade. 1t was promptly
abandoned.
The road has opened to the world
the amazingly beautiful scenery OF
Western North Carolina. 1t was not
far from the line of the road where
George W. Vanderbilt erected bis
magnificent Biltrnore estate, costing
$l l,0OO, 600. He toured Europe and
America and then declared that no
country in the world could rival this
Sapphire country for natural beauty.
The altitude is the greatest in the
East and here one may revel in a YER
liable wonderland. Ex-Secretary oil
the Treasury Leslie NJ. Shaw, recently
took a trip over the Blue Ridge di-
vision with President Carter and de-
clared that the scenery was the
grandest in the country.
George L. Carter will not be salts
fed until the c., C. & o. becomes q
link in a trunk line from the great
lakes to the South Atlantic sea board.
1t would act as funnel for the rich
agricultural sections of the valley,
with Pittsburg and Buffalo on the
east and Cincinnati and Chicago on
the west. 1t could be realized by the
extention OF the c., C. & 0. from
Elkhorn City, KY, it's present obiec-
tive terminus, across the State to
Ironton, o., there connecting with
the Detroit, Toledo & Ironton.
demonstration of the Virginian
Railroad, a line built for a similar
purpose and alike in character, was
the life-work of the late Henry 81,
Rogers, so the Carolina, Clinchfield
L Ohio may be the greatest accom-.
| plishment of Thomas F. Ryan. from
the standpoint of benefit to the pub
lie.
DeWitt's Little Early Risers-the safe, sure
gentle, easy little liver pills. Be sure to pe,
DeWitt'e Carbolized Witch Hazel Salye. fht
| original Always refuse substitutes and i'm.
| ifafionss The original DeWitf.a Carhol;,.J 4