Savannah morning news. [volume] (Savannah) 1868-1887, 1881-03-26
The Proposed Lease Of the Georgia
Railroad.

Quigl0R III any COUuul6ulS buCIcOHs Jul
Augusta contemporary, the Chronicle and
C0ustitutionalist, however, dwells at
length upon it daily, and it is reasonable
to be inferred from this fact. and also
from the recent decided advance in Geor-
gia Railroad stock, that if not already
virtually consummated, the subject has at
least been preached, and seriously con-
sidered. The real condition of affairs
viii probably not be known definitely
until the meeting of the directors of the
Georgia Road in May next.
Whether or not there is any truth in
this proposed lease, the advantages
which it would confer on the Central
Road and to Savannah are manifest. As
matters now stand, the Georgia with its
close connections at Augusta with the
South Carolina and Port Royal Railroads
is a feeder for Charleston and Port
Royal, and furnishes the means for
diverting commerce away from the
Central and the State, and for build
ing up these two rival ports to Savan-
nah. With this lease effected it
would enable Georgia's great highway to
control business legitimately belonging
to Georgia, and while the Central would
assume great obligation in guaranteeing
eight per cent. dividends upon the stock
of the Georgia, it would secure to itself
at the same time a valuable business
which might otherwise pass beyond its
control
To the city of Savannah this lease. if
consummated, would prove even more
beneficial than to the Central. The
management of that road has always
been characterized by wise conservatism,
and the additional responsibility as
sumed by it to pay the eight
per cent. dividend as above mentioned
would perhaps prevent an immediate
increase of dividends on its own stock.
Savannah would, however, enjoy very
decided benefits therefrom without any
corresponding responsibility. She would
become more than ever the great seaport
of the South Atlantic, for she would not
only continue to receive all the trade
which she now enjoys, but she would
also be in position to fear less than ever
the rivalry of ports outside the limits of
Georgia Nor is this all. but if, as is
alleged, an understanding exists be-
tween the Louisville and Nash.
vile in regard to this lease, it
would at once make our city the termi-
nus OF double line of railway through
this State, affording direct and speedy
connection with the great West, and this,
with her fine lines of steamers and
unexcelled shipping facilities, would
insure to her beyond peradventure all
the advantages which she so conf
IDENTIFY an ticipated as the result of the
Cole combination which was formed
little upwards of a year ago, and which
was suddenly broken up by the purchase
of the Nashville and Chattanooga Road
by the Louisville and Nashville.
And while the lease would thus benefit
Georgia and GeOrgia's chief seaport by
preventing divergence of the commerce
of the State TO points outside the State,
it would also work no injury to Angus
ia. That city would still enjoy all her
present railway facilities and would, her
self, equally with Savannah, be placed
in intimate connection with the great
West, to the manifest advantage of her
trade with that section.
We notice that a great deal of opposl.
ton is being manifested to this proposed
lease in Augusta, and certain of its OPP
ponents have raised the question of its
legality. This, we think, is hardly
tenable As we understand it. the
charter Of the Central permits that road
to lease any road (which now or may
hereafter have its lines connecting with
that railroad" To so lease is therefore a
vested right of the road, and the present
State Constitution, in article xii, para
graph T., says distinctly; 'tAll rights.
privileges and immunities which may
have vested in, or accrued to, any per
son or persons, or corporation, in his,
her or their own right, or in any f1duciary
capacity under, and in virtue Of any act
of the General Assembly, or any judg-
ment, decree or order, or other proceed.
ing, of any court of competent jurisdic-
ton in this State, heretofore rendered,
shall be held inviolate by all courts
before which they may be brought in
question, unless attacked for fraud.
The only question then which can be
raised against the legality of this pro-
posed lease is whether the Georgia is
connecting line with the Central, and of
this, II seems TO US, there can be no ques-
ton. The trains of both roads start from
and enter in the same depot in Augusta,
and if they do not connect now they can
very easily become connecting lines by
simply a mutual agreement regarding
schedules.
AS we have said, it is hardly
appropriate to discuss this subject at
this time when it is so involved in I'M
certainty, and when so little is known
about it. Inasmuch, however, as, if con-
summated, it will prove of such mani
fest benefit to Savannah, the future
progress of events in connection there
with will be watched by our citizens
with great interest.
The Cincinnati Gazette is evidently
disposed to make a faint trial Of the
party whip in behalf of Stanley