Soon after his return from the Constitutional Convention, he became interested in the Cleveland and Mahoning Railroad. He was most influential in obtaining the charter and organizing the company, of which he was elected president, and became the principal, almost sole financial manager. Owing to prior and conflicting railroad interests, little aid could be obtained for his project in either of the terminal cities, Cleveland and Pittsburgh, and the work was commenced in 1853 with a comparatively small stock subscription. A tightening money market prevented any considerable increase of the stock list, or a favorable disposition of the bonds of the road, and the financial crisis a few years afterwards so reduced the value of the securities of this, as of all unfinished railroads, as practically to shut them out of the market. In this emergency the alternative presented itself to Mr. Perkins and his resident directors, either to abandon the enterprise and bankrupt the company, with the entire loss of the amount expended, or to push it forward to completion by the pledge, and at the risk of their private fortunes, credit, and reputations. In this, the darkest day of the enterprise, Mr. Perkins manifested his confidence in its ultimate success, and his generous willingness to meet fully his share of the hazard to be incurred, by proposing to them, jointly with him, to assume that risk; and agreeing that in case of disaster, he would himself pay the first $100,000 of loss, and thereafter share it equally with them. With a devotion to the interests entrusted to them, a determination rarely equalled in the history of our railroad enterprises, they unanimously accepted this proposition, and determined to complete the road, at least to a remunerative point in the coal fields of the Mahoning Valley. The financial storm was so much more severe and longer continued than the wisest had calculated upon, that for years the result was regarded by them and the friends of the enterprise with painful suspense. In the interest of the road Mr. Perkins spent the Spring of 1854 in England, without achieving any important financial results.