Savannah morning news. [volume] (Savannah) 1868-1887, 1883-05-17
The Gainesville, jefferson and Southern
Railroad,

In view Ofthe fact that the lessees of the
Georgia Railroad have secured control of
the Gainesville. Jefferson and Southern
Railroad, as previously announced in the
NEWS, the following extract from the
address of President Gambler to the
stockholders at their recent meeting will
be found of interest:
''NO success was had in. raising money
either to pay the debts incurred for the
rails and fastenings or to continue the
work OF extending the road until the early
part OF January, at which time negOtia-
tiOns were opened with parties in Augusta
and New York.
Through the efforts of Major J. w.
Green, of Augusta, these negotiations
were, after much delay and difficulty.
successful, and sales were effected of the
remaining $161, 800 of the first mortgage
bonds of the company still unsold, to-
gether with 1900 shares of its common
stock, for a sufficient amount to insure
the speedy completion of ! )th branches of
the road. These negotiations were brought
to successful termination on the 29th of
March, and sufficient money was paid
over at once to eXtinguish the floating
debt OF the company maturing within a
very few days thereafter and to complete
the road to Jefferson. The other PAYMENTS
are to be made from time to time as the
requirements of the company may de-
mand. The road is now completed and a
regular daily schedule is being run
to Jefferson and to HOschtOn. The grad
ing Is about completed between HoschtOn
and jug Tavern, and contractors are now
engaged in building the bridges and tres
ties between HOschtOn and the last named
place. Four hundred and fifty tons of
steel rails have been purchased for deliv-
cry during the present month to complete
the track toJug Tavern, and we Will in all
probability reach that place with our
trains by the 1st or 10th of July.
"Our engineers have just completed the
surveys of the line between jug Tavern
and Monroe, and it is probable that this
the last section of your road will be COM
pleted within the next five months. This
is certain, if citizens of Walton county
who are vitally interested in the eX-
tension of your road give it
that encouragement which we may rea-
sOnably expect from them, and it is conf
IDENTIFY believed they will do. Arrange
ments for steel rails to extend the track
over this section have been made and the
rails Will be delivered as soon as the grad
ing Is completed. The completion of this
section will finish your road, and not only
develop one of the finest agricultural dis
tricts of Georgia, but connect Gainesville
and Northeast Georgia with the Central
system of roads, and afford the ONLY nm
broken rail connection between Northeast
Georgia and the ports of Charleston. Port
Royal, Savannah and Brunswick.
''The entire line of road will be. includ-
ing side tracks, about 561% miles.H
The probable early completion Of this
railroad cannot but be of material advan-
tage to Savannah, as it places within
reach of her merchants fine aaotion Of
country, the produce Of which has been
in the main directed to more northerlv
markets, and the management of the Cen
tral have set an example, the imitation of
which, wherever opportunities present
themselves, cannot fail to further Increase
the growtho of Georgia's chief seaport and
add to its material prosperity.