| From the Western Democrat (Charlotte,
N.C.) |
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| May 5, 1863 |
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| Thomas E. McNeill, of Macon,
Ga., a competent and thoroughly accomplished machinist and mechanical
Engineer, is actively and zealously engaged in organizing a company
for the manufacture and supply of locomotives, cars, axles, wheels,
and Railroad findings generally. We commend this meritorious
enterprise to the favorable attention of our friends of the Press and
of Railroad Superintendents and all interested. Full information can
be obtained on addressing Mr. McNeill as above. |
| Charleston Courier |
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| We also
commend the above to the attention of all Railroad managers. The
complaint is made that the rolling stock of Southern Roads is wearing
out, and that they are unable to do the business. This, no doubt, is
true; but we suggest that it would be the best policy, instead of
striving to make a large surplus and declare big dividends, to build
locomotives and cars, and keep the machinery and fixtures of the Roads
in better condition. Considering the increased incomes of all our
Roads, they can afford to pay higher prices for machinery, &c.
Suppose it does cost three or four times more to build a locomotive or
car now than it did before the war, would it not be wiser to spend a
portion of the present large incomes in that way, and be able to do
individual and Government transportation, than to neglect to make such
additions and repairs for the sake of declaring large dividends, and
at the sacrifice of the Roads in the long run. Railroad managers may
not thank as for making any suggestions on the subject, but it is our
right and privilege to do so, and we ask and expect no thanks. We are
interested in the prosperity of Railroads, and the public generally is
interested, and while no one can object to their making as much money
for the stockholders as they can in a fair and legitimate way, we all
have a right to object to their being used only for money-making
purposes in times of emergency like the present, and at the sacrifice
of public accommodation. We express no opinion about the competency or
incompetency of Railroad managers -- we know nothing about that,
though we are inclined to think that the managers generally in this
State are superior business men -- but we disapprove of the determined
spirit they manifest to make large dividends to the injury of other
interests. |
| {I have seen many
comments in annual reports that the roads wanted to spend more on
upkeep, (but could not find the supplies or men) and on purchasing
equipment and rolling stock (but could not find either at any price).
During 1863, the unused earnings were usually returned as dividends.
In 1864, some road used that money to buy cotton in order to preserve
the roads' purchasing power against the rapid inflation then in
progress. The editor should also have read an article he published 2
months before: NP, WD 3-24A-63} |
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