Savannah morning news. [volume] (Savannah) 1868-1887, 1883-07-30


crease in the value of the road is some
thing over $1,5O0,O00.
The bond which the lessees gave bound
them to but two things: first, the pay
ment Of the rental monthly as II tails due;
second, the return of the road in as good
condition as they received it. The inven-
tory filed, in the Secretary Of State office,
is the standard upon the subject OF its
condition when received. Compare that
with its present condition, and the road IS
worth million and half dollars more
to-day than it was the day it was leased.
The point has been made that the
bond is not a good one and that
there are no securities TO it. Whether
that is true or not, when ii was
made. in 1872. when the first investi-
CATION was had. a Democratic Legisla-
ture confirmed the lease, ordered a new
inventory, as both the President of the
company and the Governor had asked for
it. and stated in the resolution that if the
sureties refused to be bound by the second
inventory. they should remain bound by
the first. Here is an express recognition
Of the fairness of the lease and Of the
validity of the bond; and we hold that the
State is estOpped from denying, after this,
that there is a good bond.
But we do not think that il matters a
particle whether the bond binds the sure
ties or not. The lessees themselves are
worth in their own right as individuals,
more than twenty millions Of dollars.
Those Of them who live in Georgia are
worth more than two millions Of dollars.
The betterments which they have put upon
the road are worth more than million
and half of dollars.
Now. suppose they wanted to act the
rascal about it, how could they do it: 1t
may be said they would stop paying the
rental What would be the result? If
the rental for any month is not paid with
in twenty days after the end of the month.
then the statute makes it the duty Of the
Governor to seize the road and take it
from the lessees. And tt authorizes him
to use the posse cOmitatus in
every county through which il runs
to aid him if necessary. Then on the
score Of nOn-payment of rental, it
is impossible for the lessees to do
more than fall one month and twenty days
behind. This would be about forty thou
sand dollars that they could get behind
before the Governor could take the road
from them. To secure that forty thou
sand dollars he would have the bond Of
the lessees without security if the securi-
ties were not bOund), who are worth over
twenty millions of dollars, and two mil
lions of dollars in the State. And he would
have more than a million and half Of
betterments on the road. Is not this am
pie security:
1t may be said the lessees will run
down the road before the end of the lease
and take OFF the rolling stock, and leave
the State without sufficient rolling stock
left on the road.
They dare not take off the rolling stock
and not leave as much as they found there
as shown by the inventory. If they at
this land lord could AT oDpp
enjoin waste of this character on the part
of the tenant or lessee; and any court Of
equity would at once stop the removal.
But, suppose they moved every engine
and car off the road into another State,
then the lessees themselves are amply re-
spnnsible. John i. King, Joseph +.
Brown, Richard Peters, John I. Grant,
William B. Johnston. the estate Of Will
liam :. Holt, Col. W. G. Morrill,, to say
nothing Of one or two others who may not
be so responsible, are here in the State
bound. Does anybody suppose gentlemen
of the character Of these would under
take to run off the rolling stock when
they knew that they would be response
BILE? And not only these lessees in the
State but those outside, who are worth a
great deal more money, would be re-
spOnsible also. The idea is simply pre-
pOsterOus.
Now let US see a moment who is inter-
ested in maintaining the litigation. The
State has pledged her faith in the lease
act that the lessees shall not be disturbed
as long as they pay the rental promptly
and comply with the contract. They have
more than complied with it as to the con-
ditiOn of the road. They have. in every
instance. paid the rental promptly.
Therefore they have the faith of the State
pledged that they shall not be disturbed.
The citizens of Georgia are not interested
in breaking that faith or in disturbing the
lease. Who are interested? Counsel in
the case would get larger fees if the liti-
CATION continues: they, and they alone,
are interested. We do not say that that
influences them a moment, but they GER
tainly have that interest.
1t is said. however, that the case could
not be carried to the Supreme Court Of
the United States if decided against the
lessees. What do we care whether it
could be or not? Who wants it decided
agaist the lesseesl Certainly not the
people Of Georgia. They do not want the
road thrown back upon the hands of the
state. releasing the lessees, with the East
Tennessee. Virginia and Georgia Railroad
living along by its side as an active COM
petitor. The lessees will certainly have
enough to do to meet their engagements.
with this active competition by their
side, and but for their combination
with leading railroads, they could not do
it. Let it be thrown into the hands Of the
State and that combination broken up,
and then other railroad companies will be
interested in putting down the value of
the State Road. so that they can buy il or
lease it cheaply. And they could turn
the whole Western business around on the
East Tennessee, Virginia and Georgia, or
at least a great portion Of it, and no Gov
ernOr we can put into the executive chair
can take it and run it in politics and pay
S25 900 a month. Whenever it is attempted
it would be a triumphant day for Governor
Brown, who always paid 900 month
on an average when he was Governor,
and who for twelve and half years as
lessee has paid the So. 200 promptly at the
end of each month. When the cOmbina-
ton was too strong for any one who might
run it as Governor, and he failed, Brown
and his friends could call upon him to pay
in as Brown ALWAYS did. And it would
be stunning blow to the Executive if he
had to manage it.
But suppose the Governor undertook to
sell with the competitor lying beside it, as
it at present exists, he would find it i'm
possible to get half the amount for the
road that the people of Georgia believe it
is worth, and if he undertook to lease the
combinations of railroads would lease the
road very low. because they could turn
the freight against the government so as
to show that it is worth but little, and
they would naturally say, as the State
failed to keep faith with the lessees,
some allowance must be made for
bad faith in making a contract for
"A second lease. Who among the
people desire any such thingg Do the
people wish the road thrown back into
the hands Of the government in this state
of the case! Certainly not. Then why
do their representatives longer permit
this litigation for the road, to be con-
Quoted by the Attorney General and his
associates at a heavy expense to the
treasury? 1t is certainly not in accord
ance with the wish of the people. They
are not willing to pay the expense Of the
litigation for a thing they do not want.
They say we had better let well enough
alone The people are satisfied, the
State is amply secured, the lessees have
faithfully complied with their con-
tract and are continuing TO do
so, and notwithstanding the Legislature
has chartered a competing road right
along their side, which was not cOntem-
plated when the lease was made, they
have not murmured, but still 20 on and
paw in the monthly installments promptly.
WHY then shall they be disturbed And
if nobody wants to disturb them, why con-
tinue an expensive litigation which costs
them a large amount Of money, and
which will cause the people OF
Georgia to have to pay out OF the
very large sums to the associate
counsel of the Attorney General for con-
Quoting a litigation which nobody desires
to see successful? We hope the House
will not hesitate TO act as the Senate ac-
ted, promptly and with great unanimity.
Let the resolution pass without any
Just at it came from the Sem
&c NJ othar resolution would dismiss