1870.] 591 IGoodwin. 



His continuance as a Director ensure to the Company the benefit of his 

 enlarged experience, sound judgment, and thorough acquaintance with 

 the work.* 



Thus the foundations of the great edifice were laid, and the plans and ma- 

 terials provided for the superstructure. The seed was planted, and had ger- 

 minated ; it had shot up its trunk, and was already beginning to send out 

 its wide-spreading branches. The Pennsylvania Railroad Company is now 

 one of the greatest and most powerful corporations in the country, with 

 a gross annual income exceeding the original estimated cost of the con- 

 struction of its entire original track from Harrisburg to Pittsburgh. It is 

 by far the most important and indispensable business agency of Phila- 

 delphia and of Pennsylvania. Strike it out of existence, and the city 

 would be stunned by the blow, and even the State would stagger under it. 

 It is an immense power for good or for evil. But whatever motives may 

 actuate its present or future managers, and however its influence may 

 be abused or its energies perverted, we have this security that it cannot 

 "be made profitable to its owners without continually benefiting the com- 

 munity. And by whatever motives or principles its action may hereafter 

 be controlled, "the past, at least, is secure ;" its projectors and origin- 

 ators were actuated by a generous devotion to the public good, they 

 sought to promote the prosperity of the city and the growth and develop- 

 ment of this great commonwealth. As one of its founders, and as its 

 first President, Mr. Merrick's name is identified with its whole history. 

 He shares the glory of its subsequent greatness, while it inherits the 

 prestige of his noble purpose and character. 



When, after nearly a,nother decade, an effort was made to construct a 

 Railroad from Sunbury to Erie, thus completing the connection between 

 Philadelphia and the lakes, through the great western coal fields of Penn- 

 sylvania ; and when, after many ineffectual struggles, the enterprise 

 threatened to prove a disastrous failure, all eyes were turned to Mr. 

 Merrick. He was recognized as the only man in the community who 



* The following is Mr. Merrick's letter of resignation : 



" Office Penna. R. E. Co., Philada, Aug. 22, 1819. 

 "To tlie Directors of tlie Penna. B. K. Co. 

 "Gentlemen:— Circumstances connected with my private affairs compel me to announce to 

 you my intention of resigning the ofBce with which you have entrusted me. 

 •' I need scarcely say that 1 take this step with great reluctance. 



■'Identified as I am in feeling and interest with the great work which, above all others, is des- 

 tined to add to the prosperity of Philadelphia, I had hoped to have been prominently instrumental 

 in urging it to final completion ; and although I relinquisli the position I have occupied as tlie 

 President of the Company, my exertions will not be wanting in forwarding its interests. 



"It is no small cause of regret tliat my oflicial connection is severed with gentlemen, both of the 

 Board and in the oflice, with whom I have acted in tlie most uninterrupted harmony and good 

 feeling, a continuation of which it will always be my pleasure to cultivate. 



" Desirous of resuming my private business at as early a date as possible, and at the same time 

 give an opportunity to select a successor, I leave to the Board to fix the date at which my resigna- 

 tion shall take effect. 



" Very respectfully, 



"S. V. Merrick, 



" President Penna. E. K. Co." 



