Savannah morning news. [volume] (Savannah) 1868-1887, 1881-10-17
An Important Railroad RumOr.
Atlanta Constitution of Saturday.

AttufttU CONSTRUCTOR OF ouIUfUuy,
A rumor came to us late yesterday
evening which we do not believe, but
which came from such a source that we
are not justified in entirely discredit-
ing it.
1t is said that combinations, or ar
rangements, or consultations have been
effected between the Louisville and
Nashville, the Cole-Seney system and
the Georgia Central system by which
Colonel Cole will at once cease the
building of the Macon and Rome ex-
tensions, and will use the Georgia
Central and the Louisville and Nash
vile lines for his traffic, giving them the
same right over his lines
While we do not be.ieve that this ru-
NOR is true, we must confess that it is
within the bounds of possibility. We
know that very pressing negotiations
were started with a view to this point
before the railroads were commenced,
but Colonel Cole declined to listen to
them and assured us, as he assured the
public, that he intended to build the
road from Macon to Atlanta. That this
was his intention, is demonstrated by the
rapidity with which ne has gone at his
work, and with which he is still at it.
There is no human power that can pre-.
dict what will be done or what changes
of intention there may be when such
vast interests are at stake as in the gil
gantic war between these three cOmbina
lions.
Our reasons for disbelieving the ru-
NOR are manifold. In the first place the
terms under which the Macon and Bruins
wick Road was sold prescribe that the At
lanta extension shall be built within three
years or the money paid in shall be for
feited and the road returned to the State.
We do not believe that Colonel Cole and
his friends will disregard the law under
which they purchased. If this road is
built, the Georgia Central will care very
little for the building of the Rome ex-
tension. In the second place, we do
not see any evidences of a late meeting
of the parties at interest. Col. Wadley,
it is true, has gone to New York,
but General Alexander was in Atlanta
day before yesterday, and Colonel Cole
IS in Nashville. where he has been for
several days. In the third place, there
are so many points Of conflict and com
petition between these three systems that
an amicable arrangement is hardly pos
sible except by absorption of two of them
by the third, and the properties involved
are too vast for any one to handle. 1t
would not begin to settle the differences
between the Louisville and Nashville
and the Cole system for Colonel Cole to
agree not to build from Macon to At
lanta, and we don't believe that an ar
rangement could be reached between
these lines that would be permanent
1t is fair to say, on the other hand,
that the Louisville and Nashville and
the Cole Seney people have already made
a friendly arrangement involving the
Norfolk and Western and the East Ten
nessee, Virginia and Georgia Roads, and
it is barely possible that the friendly re-
lations these negotiations brought about
have gone further AS to Colonel Cole
perfecting the Macon and Brunswick
rather than build the Atlanta extension,
it must be remembered that he has only
paid in $3.50, 600, the Legislature at its
last session having refused to take
the 100000 balance that he Of
fered to pay, Directing to the United
States bonds that he offered. 1t is proba-
BILE that he has made enough out of the
road to reimburse him for the $3.50, 900
already paid, SO that his forfeiture would
amount to little beyond giving up very
valuable property that had been bought
at a very low price. 1t is impossible to
estimate the amount of money already
spent in the actual purchase and work
on the extension. 1t cannot be much
less than half a million dollars. This is
exclusive, of course, of the enormous
amount of steel rails purchased, which
can be easily put upon the market and
sold at little or no loss if the parties in
charge have determined to suspend build
ing.
Inquiry of Major McCracken, who has
charge of the building of the Macon and
Rome Roads, when questioned upon this
subject, last night said that he had no
information in relation thereto, but that
work had not been stopped, and that ar
engagements were being made to push it
ahead on even larger scale than at
present. There are about 4, 900 men now
at work on the entire line. We do not be-
lieve that there is any truth in the rumor,
but as we said before, it comes from an
important source, and we have given our
readers all that weknow or surmise upon
the subject. In to-morIow's Constitution
we shall be able to present definite in
formation.