| From the Charleston Mercury |
| |
| June 26, 1863 |
| |
| Florida, Atlantic & Gulf Central Railroad Company |
| Lake City, Florida |
| Colonel T. P. Anderson, Late President |
|
This Railroad Company had for its liability on June 1st,
1863, debts as follows, viz: |
| Bills payable, secured by mortgage coupon bonds and personal
endorsements of individuals, the friends of the road, over due
and bearing interest |
$300,000 |
| Miscellaneous debts |
50,000 |
| |
$350,000 |
|
| The whole of this indebtedness has been
paid by the earnings of the road, under the judicious and economical
management of S. L. Niblack, Esq., President, and the untiring energies
of Mr. Thos. O. Holmes, the Financial Agent, who has sold their bonds at
a highly remunerative price and paid the road out of debt, and released
all the personal endorsements. This is another evidence of the good
results of allowing time to any railroad built in a new locality --
making true the saying of the "pioneer of building railroads on credit,"
viz. "Build a railroad through a desert, time will make it productive." |
| The Florida, Atlantic & Gulf Central was
built on the credit of their bonds -- it is without stock. |
|