Savannah morning news. [volume] (Savannah) 1868-1887, 1881-10-14
THE LOUISVILLE AND NASH
VILE.
Its Operations In Georgia Railroads

The following references to the con-
troll of the Georgia railroads named, we
extract from the report of President
Baldwin to the stockholders meeting of
the Louisville and Nashville Road:
An opportunity being offered during
the year to acquire half interest in the
lease of the Georgia Railroad, including
its investments in the other roads con-
nected with it, it was taken advantage of
by your board, the remaining half interest
being taken by the Central Railroad and
Banking Company of Georgia. The
lease is for ninety-nine years, at
an annual rental of 5000. 900,
the lessees receiving the benefits and
profits of all its investments in other
roads. This gives US, in conjunction
with the Central Railroad of Georgia.
the control of 641 miles of railroad, ex-
tending from Montgomery, Ala, where
it connects with our system, through the
best towns and villages of Alabama and
Georgia, and the cities of Atlanta and
Augusta, to the harbor of Port Royal,
the best on the coast south of New
York. 1t also cements our alliance with
the Central Railroad of Georgia, control
ling 933 miles of road, comprising the
cream of the local business of South
western Georgia and Southeastern Ala
bama, possessing at Savannah the best
terminal facilities south of Baltimore,
and magnificent feet of new iron
steamers plying to New York and
other Southern ports. This lease,
also, of necessity, makes an ally of the
South Carolina Railroad, giving us
two connections between Augusta and
Charleston. Our system, therefore, now,
not only in itself connects the Western
cities of Cincinnati, Louisville, Evans.
vile, St. Louis and Memphis with each
other and with the three Gulf ports,
Pensacola, Mobile and New Orleans, but
also with the Georgia and Central Rail.
roads, connects these eight cities with
the Atlantic ports of Charleston, Port
Royal and Savannah, and through them
with New York. The lease, it is believ-
ed, will return a profit, even from the
first, and become very valuable with the
future development of the South, besides
securing the control of such important
lines
A liberal charter was granted last win
ter to this company. by the State of
Florida, and valuable land grant of
$4,000 acres per mile, to enable it to
build road from Pensacola to Chatta-
hoochee. As this road will give very
desirable connection for Florida bust
ness, your board has secured control of
this company and a majority of its
stocks. 1t will be built as rapidly as
possible, and will greatly strengthen our
position in the South. Its length will be
about 40 miles.
The charter of this company was
bought by the Louisville and Nashville
Railroad Company in the latter part of
1879, with view to the early construc-
ton of line from Birmingham to At.
lanta. Later developments removed the
necessity for building this road our
selves, and we offered the charter at
about cost to any company which would
undertake to build it with a reasonable
prospect of carrying it through, and as
sure us of right to use the line built
should we desire to use it. A company
was formed under the auspices of Gen
eral Gordon, who complied with the con-
ditions and took the charter There
seems a fair prospect of the road being
finished, which will afford us another
connection to Atlanta.