Savannah morning news. [volume] (Savannah) 1868-1887, 1883-10-11

ared and four fhousasd f0nr hundred and
thirty four dollars ami ulDety-slN cents q
THE income has been aTs1FQ kflateti -a .s-Ai-a--
rhe Atheus c1teus10ns making u1iaL--1
our bsraks against the lsseet5s, "a aseonht y
This rrr r4e rat7rarfz gf &s-.s+l l9. 81 ll1l may
reasonably ls ggzEz-ilCrrl 2 7fiNeht 49,
With oulw about $4,000 70 lie exI -nfiel Iof the
f.0mulet70u Of the Athens extension ana me me-
income u the road for the past nve months q
the present fiscal year. y men lullAtlt- tne i.lLl
season showing conslnerailr llclFA7- - q
the same period 81 last year y e letl IN
aged To believe that the ica7ed ps"itlSt elH
n the future Ens only take care q it7tli' eAa-
after the present year. tezlh 3" q .tal " = -, ~
the adVauces Ve have heretofore - L 49,
upon 70 make ID rs behalf should tAe-t
conclusions FsrgVe correct the Tease =" itA w.
come remuneratfTe earlier thau = = eYhteil
plated az the time 70 was eNetArA' ioi 4HI1 90
was known that heavy 81 Reudi l0Fre e"llti ~
reef5el rv.ou rHs property III ORDER - lDlftll-t
lrs capacity for business ana place it lu 2 el--
d-tfor- for securing the minimum cost q ol'eF-
atiug- and % was then - f'5'l AA-lt =
years Weuld ~ required 10 return tHsse az
Fancez.
me Pori ROYAL ami Augusta Railway has
vef been able ~ Do but little more IMAM meet
H. OPERATING ..NT,tnses and fixed charges anu
the lar-e Investment you hol1 I'D IT. -ttuI ltie>
has y6kldet no threct return I'D money. t,ut
the Influence given Us ID IT. maha- eiAeht lia7
operated yeTF greatly 70 our atf atit,.-s pa
IN proving oar facilities for competition.
Both the physical AMI nnanciai eohultloh "I
the road has been much lInpFoHe 't uuflns ~
hope that ultimately sim h"re tan-lu.e
benefits may De- derived from the Investment
With view 20 increasing IL tFlAl1- tle
Board u Directors Of that company are about
closing negotiations for lease OF Inc Augusta
AMI Knoxville Railroad Like most AFtn7ac-
tIou= Of thl- character lew Ees-l@ may te
necessary 10 work out good nnanclAl results.
vet there j. little doubt OF the foft hoA al
Road securing the immediate advantage OF
an increase I'D traffic and revenue, anu the
general Interest Of your system appreciated
pE the opening up % TINS adtAtiobal teEI4e'Es
% our southern ports
To correct Am error inadvertently made IN
the last report regarding the capltal stotA o.
the ( ps0n County Railroad. Il L necessary %
say. that the capital stock d that company i
Si0.9o5. Of which this company oWn A5s.s4l,
leaving in the hands Of private parties
S5.055. Since the rebuilding Of the ROAD after
the war. il has been operated first by the Ma
con and Western Railroad. and after the con
-olldatlon. by your company WIN hlc t.iatlns
results. ON the first Of september. 49, GOV
ering q period 81 ten years. there vas q Dal-
aucc 90 rs credit OF -, ls5 =, which mas pesn
disposed Of - follows:
Paid Secretary and Treasurer for ser
vices to date --.------- .------.-- 80 %
Paid expenses incurred in savannah
Office. .----.-----. l49 -
Paid dividends to stockholders - $50 3
Leaving no funds on hand. but the road en-
titled 20 d credit Of the net earnings for the
year just ended. amounting 10 Sslz -
The floating debt OF your company was
shown IN the last annual report 70 be $4,000.
and list 81 securities submitted. not needed
Dr. u for the control Of other property. and
therefore available for reducing or hquida-
ting il. \ portion Of these assets has been
appropriated 70 that purpose. and the debt al
the close Of the year now under review. l.
$4,000. b. pursuing this plan further.
greater reduction might have been effected.
but the price for securities Of ali kinds being
low during the year. the board did not deem
% advisable. IN view Of the excellent credit
81 the company, To make any sacrifice.
Al an annual meeting Of the stockholders,
many wears ago, q resolution was passed look
Iu- to the erection OF q monument 70 CON-
memorate the services and worth Of William
" Gordon. " DO was not only tie hrst Preel-
dent Of the Central Railroad. but also one Of
the earliest and most active promoters OF the
enterprise. which % soon bee anne very i'm
pOrtaut element IN the Development and pros
Ueritv OF Georgia. The war between the
states and other embarrassments delayed
compliance with this expressed wish until
lSSl. when the work was begun AMI became
matter Of earnest and personal interest Of the
Board % Directors. We have now the pleasure
IL report its completion.
The monument l. in Wright square, IN the
citv IF Savannah. III was designed and erect
ell under the immediate auspices Of zen. J.
I. GilmeT. Chairman. Col. Edward {. Auder-
son and Mr.. Andrew Low. Committee u the
Board u lsSo. They have discharged the
trust faithfully. and the monument j. credIta-
Die alike 10 their taste and your liberalIty
Ii well perpetuates the memory Of one Of
0eOrgIa's zrcase5t citizens. who was also the
devoted and life time servant Il your CON-
pany.
To provide for the increasing responsible
ties thrown upon the Managers Of our traffic
department by the growth Of business and
increasing activity in the competition We are
called upon 70 meet, Maj. ". r. Shellman.
Superintendent OF the Southwestern Rail
road. was appointed August 1T 20 the pO-
siti0n ~ Traffic Manager.
NF. T. ID. Kline has been made Division
Superintendent 10 fill the vacancy created by
the promotion OF Major >hellmau.
10 becomes the melancholy duty u the
/ Board 10 chronicle the death Of our late co.
director, Col. Edward q. Anderson. which
occurred on the 6th day OF January last. The
company loses in him "a faithful director Of
many wears service. and Savannah 2 useful
and distinguished citizen. Respectfully sub
mitted ". q. RAoTL.
I.