Savannah morning news. [volume] (Savannah) 1868-1887, 1881-04-08

incluGed-at the same time beaming with
the quiet consciousness Of one who has the
inside track.
"Young man." said Mr.. Wadley, "I never
talk for newspapers"
The Chronicle ventured that in Justice to
himself and railroad, be might venture
something to put at rest the vague rumors
and to allay even the %preiuoices of the sus-
picioas ones.
"What do they say?" asked Mr.. Presi-
dent.
"That your friends have purchased the
Georgia Railroad, and will work it in the
interest of Savannah and the Central"
"Well, then, you may say this for me-:
That VIM. NJ. Wadley will never be a party
to any plan that will injure the city of Au-
gusta.'"
The Chronicle asked Mr.. Wadley if any
arrangement had been made to operate the
Georgia and Central more tremendously to-
gethers
Mr.. Wadley answered that none was
needed. The homogeneous of the railroads
were in perfect accord.
The Chronicle asked further, If 1t were
really true that his friends had purchased a
controlling interest in the Georgia Railroad
stock?
Mr.. Wadley promptly responded that he
did not know, repeating his former an
nouncement with emphasis, that in all and
auy event, Augusta might rest assured that
VIM. NJ. Wadley would not lend himself to
any plan that would injure this city and her
interests.
Said a gentleman, some time later: "Mr.
Wadley seldom talks. He keeps his W
counse better than any man in the South.
Last year every one knew what Colonel
Cole was after long before he was scooped
up. Mr.. Wadley's plans are never divulged.
But one thing you may rely upon: Mr..
Wadley's pledge is as good as his company's
bond. He will protect Augusta. He has
more brains than almost any railroad
official In the country, and, as the Chronicle
said some time since, when once he sets
his pegs he rarely slips up.'"
NO N E IN POSSESSION.
Later on the Chronicle received assurance
positive that neither the Central nor the
Louisville and Nashville had purchased a
controlling interest in Georgia Railroad
stock; that in recent operations there was
much that was fictitious; that there was
now a satisfactory issue from the sensation
and excitement Of the past week. Al
though, then, there Is much of mystery and
sensation IN the matter, the following may
be taken for granted: That heavy blocks
of Georgia have been bought at the North
within the past month; that no one road
has secured a controlling interest in the
hC0i &ld 4GIAE0a0g ba0b GhC 1OutDNAIlC dlO
Nashville people were heavily interested in
buying stock and own several thousand
shares Of it; that the Georgia and Central
are in complete understanding with each
other, and will operate closely together In
the future, and that the
LOUISVILLE AND NASHVILLE IS
to this quasi coalition. This is the strange
part, but it is believed to be true. That
the Central people or the Louisville and
Nashville people have been bidding against
each other, and find that neither could con
troll, is not probable. II the Louisville and
Nashville had determined to buy up the
Georgia, it could have done it. The more
probable solution is that the Louisville and
close compact between the Georgia and
Central because they can best protect
themselves against the great Richmond and
Danville and Pennsylvania Central comb
nations of the East. Were these strong syn
dictates to get control of the Georgia, as
they might do, the Central and the Louis
vile and Nashville would both be injured;
accordingly both corporations find it safer
to hive the coveted stock in New York, than
leaving It exposed in waverIng and scatter
ed particles, to be scooped up by a power
full syndicate at any time. 1t looks strik-
iugly like a scheme of self protection
against the Great Eastern lines, and IL such,
we trust 1t will be secured.
THE OUTLOOK.
However this may be, the management Of
the Georgia will yet remain distinct from
the Central. They Will not only work IN the
future to protect each otner, out to take
in the South Carolina Railroad, and scallop
their steamship lines from Savannah to
Charleston and New York. They will com
mand all the business possible for their
lines and ports. They will form them
selves a natural syndicate for self protec-
tion and domestic purposes, preventing
disastrous cutting of rates; will try to
save the domain of Georgia and Carolina,
with the South Atlantic seaports and har-
bors, against the grasping Clyde combina-
ton, whose chains stretch from the noun
tains of Tennessee to Pennsylvania and New
York, and who are triangulating the South
ern coast with their feeders and branches.
In Mr.. Wadley's hackers and in the Louis.
vile and Nashville people, Augusta may
have found her friends where most she
feared her foe. Under all events, Augusta
is safe for the present.
what PRESIDENT rHINIzY SAYS.
A Chronicle representative happening to
meet on the street Mr.. Chss. II. Phinizy,
President of the Georgia Railroad, remark
ed that it was reported that the friends of
the Central Railroad had secured enough OF
the stock Of the Georgia Railroad to obtain
control OF the latter, Mr.. Phinizy said that
was more than he knew, ana ne aid not be-
lieve that u was the case unless in the
term "frIends of the Central" were inelu-
ded old stockholders of the Georgia, who
had not sold out, bpt who were in favor of
the roads working in harmony together.
The fact was, the Georgia and Central and
South Carolina had been work
ing together and dividing
business for some time. The Central, how
ever, got the worst of this, as it had to carry
the larger portion Of the through freight
and divide the money. The cause of this
was two.fold. In the first place the Central
line Of steamers could carry more, and, In
the next, tie track Of the road ran directly
to the wharf. In Charleston the freight had
TO be transferred, and the carrying capacity
OF the steamers was not sufficient to take all
the freight that the road could convey to
them. With the roads all working under
one system, the number of steamers running
from Charleston would be increased in
order 10 t"Se a proportionate share of the
business. Lab road would continue to
have IT'S own oa4e4rs for the management OF
Its business.
Under such a system he Western shipper
would have a very great s.ayantage. He
could then direct which WaV NE freight
should go from Atlanta, which he cas1of do
AOWs 4AC hoAA NA8S 1AAs 04@NJ "ON 1O !
anything to iniure Augusta was absurd. He !
could not injure il he would, and he would
not If he could. Neither the Central nor
any other road could hurt it. The Louis
vile and Nashville Railroad did not want
the Georgia, because it would gain no more
advantages by such an arrangement than it
now had. 1t could send its through freight
over the Georgia now, and it could DO no
more if 1t leased it. 1t was far better for
the Georgia and Central to work together
In community of interest than to be cutting
each others Threats. They competed at
Macon, at C%ovington, at Madison, at At
lanta, and it would be exceedingly unwise
for them to work against EACH other. tie
said that they competed at Covington and
Madison because the Central at Eatonton
was only a short distance away from the
Georgia. 1t was a great mistake to call
Atlanta the strategic point Of Georgia.
1t was too far inland. The honor be-
longed to Augusta. Here the railroads
diverged like a fan to Savannah, Port
Royal, Charleston, Wilmington and Nor
folk, and II eyer 8 great through
business was established between the West
and East and Europe, via these ports,