A Defence of the LCNC
The LCNC was the pioneer in the improvement of Pennsylvania’s transportation system to extend it beyond the anthracite coal region of eastern Pennsylvania. It was the first to introduce anthracite to the Eastern seaboard for use as fuel. It looked to commerce beyond its immediate range of transport. The Company’s view was as far ranging as the Ohio Valley, the St. Lawrence in the North, and New Orleans in the South. The Company’s views were in harmony with this grand design which was visionary but on the eve of the completion of the plan, the Company was attacked by a writer signing as “X.” It is considered that “X” was a free-wheeling broker whose intent was to lower the value of the Stock by attacking the Company’s properties as valueless so as to benefit themselves by buying up the devalued stock.
