Savannah morning news. [volume] (Savannah) 1868-1887, 1883-08-27
TotaI expended Ion new property.


Total expended for new property,
construction, and equipment 5 33S.6S9 OF
The annual report showed the floating
debt at the close of the last fiscal year,
September 80 1882, represented by bills
payable, to have been $1,214.000.
The price of Memphis and Charleston
went up yes erday on a report that the
Scott-Seney syndicate had secured a ma
iOrity of the stock. The Memphis and
Charleston is now leased by the East
Tennessee, Virginia and. Georgia Rail-
road, which is a Seney road and practi-
cally under the same management as the
Richmond and Danyille. Strong efforts
have been made by holders THE Memphis
and Charleston to break the lease, but
they have been unsuccessful. 1t was
learned that there had been talk Of a puT-
chase of about $1,000, 900 of the stock held
in a few hands, with $1,000,000 bought in
the open market, making $1,000 600 out of
a total in round numbers Of 50, 25O, 900, but
no such transaction had been cOnsum-
mated. If the Richmond and DanYille
and East Tennessee. Virginia and Georgia
systems are ever united with the Gould
Southwestern system, the Memphis and
Charleston Will be the connecting link
A Charleston. :. c.. special says: ''The
South Carolina Railroad Commission has
finally adopted a standard schedule of
rates and classicatiOns which will con-
troll charges on freight and passenger
transportation on all the railroads in this
State. In June last the commission pro-
posed a schedule. which was submitted
to the railroad companies for cOnsidera-
ton. The railroads presented the argu-
ments on the June tariff, which were
thoroughly considered, and in some cases
allowances have been made. The freight
tariff as now adopted does
not differ materially from the
former tariff. The only important changes
are in the rates on cotton and fertilizers
For instance, on cotton the rates are
raised cents per 100 pounds for hauls of
30 and 100 miles: cents per 100 for $50
miles; % cents per 100 for 200 miles, and
substantially the originally proposed rates
are fixed for longer distances. On fertili-
zers the rates are increased IL cents per
100 pounds for 30 mile hauls. and q of
cent per 100 for all distances above 30
miles. The rates established by the COM
mission are maximum rates only, and rail-
roads may charge lower rates provided they
do not discriminate against any point or
persons. Each branch road in the State
is subject to the same rates as the main
line, and freight passing over the branches
and over the main line must be charged
for as for a continuous haul. On the main
line all leased lines are treated as actual
parts of the main line, with the exception
of the narrow gauge roads leased by the
Charlotte, Columbia and Augusta Rail-
road. Under the law which requires the
Railroad Commission to make the rates
for shorter distances lower than the rates
for longer distances. roads which
have been charging the same
rates for longer and shorter
distances will naturally be affected. The
rates for shorter distances may probably
be lowered, while those for longer dis
tances will in some instances be made
higher. This is in accordance with the
principle upon which the law is based
that freight charges shall be in proportion
to the distance the freight is carried. The
maximum passenger rates have been in
creased by allowances to certain roads.
The rates fixed for South Carolina range
from three to four cents mile for adults,
and allowances have been made to the
weaker roads. 1t is not yet known what
course the railroads will pursue with re-
gard to the tariff of the commission"