Savannah morning news. [volume] (Savannah) 1868-1887, 1881-04-22
The Late Great Railroad COmbina
fiOn


MACON. April 2O.-President Wadley, by his
recent splendid coup de main. whereby three
powerful corporations were welded into one.
with their tlco thousand miles of connecting
railways, has earned for himself a reputation
for far-seeing sagacity and administrative
ability second to no other railroad manager in
the Union. That combination was essential
TO the preservation of the integrity of the rail
way system of the three States OF South Caro-
lima. Georgia and Alabama. Menaced by the
briarean arms of the Clyde Association, there
was danger that the grand arteries of com
merce which at such infinite cost to the people
of those States had done so much to develop
their material interests, would pass from the
control of those VINO constructed them and be
converted into vehicles of positive injury
Hampered by the provisions of our State
Constitution interdicting the lease or purchase
of one railroad by the owners of another. Mr.
Wadley was powerless to make any movement
in the premises. But his fertile brain was
equal to the emergency; and the transfer OF
negotiations to adjoining State, and the
utilizing of the half defunct South Carolina
Railroad to accomplish his well digested plans
vas a shrewd stroke of policy that left him
master OF the situation.
Under the arrangement that has been perfect
ed, it is not possible for any foreign syndicate,
however powerful, to obtain possession of the
railway property of our people, and thus con-
troll and perhaps divert to its own interests
the internal commerce Of the commonwealth.
On the contrary, We have the positive assu.
rance of President Wadley that all the vast
IN m4chinery at mis- command will be sedulously
and conscientiously applied to the development
of Southern pros perity, and the ACKNOWLEDGMENT
of the seaports Of South Carolina and Georgia.
And tine record Of the aStute President of the
Central Railroad, and those who know him
best, alike will testify that he keeps no Puuic
faith with any person or corporation, but al
ways as strictly honest man, edheres to his
engagements and plighted words. Never has
the charge of duplcity or treachery been
brought against William NJ. Wadley. Even his
worst enemies must concede that he plays an
open hand, and is outSpoken even to the verge
of abruptness in all that he says and does
Already have the good results of this practi-
cal amaigamation of three OF the principal
highways of Carolina and Georgia been made
evident in the almost unprecedented apprecia-
ton in the capital stock Of each. VINO can
realize that little more than one year ago
Central Railroad securities, which now rule at
14n, were quoted at 50 per cent only.
The effect of the combination will be to allay
all jealousies. harmonize and equalize the
tariff Of freights, reduce running expenses,
and place it in the power of the united
organization to so regulate its schedule
of charges as to avoid local discrimi-
nations OF every kind. Some may as
serr, however. that this great so-called
monopoly will use its power to oppress the
psople by increasing the cost Of travel and
TRANSFORMATION. But was this true after the
lease by the Central OF the Southwestern and
Macon and Western roadsg On the contrary,
hav- not the separate and independents rates of
these highways, when operated per Sc, been
materially reduced mot augmentedl since they
were merged into the Central Railroad? No
one can deny the statement.
We have every reason to believe, therefore
that under the significant postulate that cheap
rates stimulate business aud create nelO sources
of revenue, ito say nothing of the competition
that is threatened by the extension of the Ma
con and Brunswick Railroad to Atlanta, and
ton rryffh int md
the Central Railroad will, if possible. diminish.
not increase the burdens OF its patrons. And
even if it trefe disposed to make ex-
eessive charges or lnylai9us ulscrlInina- naala.
by an appeal to the laws OF the land. But even
these require to be essen. ially modined as the
practical operation OF the Railway Commls,
sion abundautly atteStS. The abnormal ana
despotic powers Of that body as constituted
are travesty upon republican institutions
Time and space, however, at present VIII not
allow of any discussion OF this question. lt
will be duly passed upon at the adjourned ses-
sion of the General Assembly.
Again we congratulate the people of Georgia
upon the successful consummation OF what
may be termed the tripartite alliance between
the Central Georgia and South Carolina Rail
roads. Under the skillful direction of Mr.. Wad-
ley, we firmly believe that not only will the
railway system OF the State be preserved IN
tact, but the arrangement will inure largely to
the benefit OF the private stockholders OF each
of the contracting organizations. The only
quasi ODJectiOn VIC udNc ucATu t3pTcSScu 70
the consolidation was based upon the ground
OF colonel Wadley's advancing years. This
was promptly met. however, by the reply of
another railroad expert (himSef not unknown
to fame) to whom the remark was addressed.
Said he: IF the President were disabled or
died tomorrow. in the person of Vice President
Ra0ul the iessees would possess an officer as
eouDetent as any man in the United States to
carry on the stupendous enterprise which has
naeri inauglIrated'' And this, we are sure, is
the general opinion.
nNvr Q6n frQf n a M
fstrafiye of1cer-duick to perceive and prompt
IN execute-but he is thoroughly versed in all
the practical details and mechanical appliances
- . railroad Witness his several Useful in
vantioTs IN the premises. But this commun1-
cation is already too long. The question OF the
hour now is, how much longer wall Central ana
Georgia Raj road stocks continue 70 mount up
WArus' "iAA 'Aie 9''''' II. H. ].