Savannah morning news. [volume] (Savannah) 1868-1887, 1884-11-28
THE RAILROAD COMMISSION.
Tenth Semi Annual Report.

Ibe following is all of the semi-aunual
report of the Railroad Commission. inst
issued, that is of interest to the public.
1t has been assumed that the policy of the
| State in establishing Railroad Commissinn
for the purpose of regulating railroad traffic
| within this State has been detrimental to the
| Interests of the railroads as well as iniurious
| to the general welfare of the people: and. in
| its operations, has had a tendency to retard
the building of railroads in the State. In re-
| spOnse to this assumption we desire to call
| your EXcelency's attention TO the following
| facts, showing the same TO be without any
| foundations
| First-The records of this Office show that
| Ior the hVe years previous to the establish
| ment Qt the commission lin 1879 there were
| built within this State less than 100 miles of
| railroads, and that during the five wears since
/ the establishment of the Railroad Commission
| more than 600 miles of railroads have been
| constructed within the limits of the State.
| Again, 1t Is an undeniable fact that more of
| the stock of the railroads within the State of
| Georgia have been taken by foreign capital
| ana at higher rates since the establishments of
| previous to It's existence.
| Further neither the policy of the State in
! enacting laws for the regulation of railroad
| tratllc nor the action of the commission ha
| deferred non resident capitalists from pur-
| chasing the following roads already built,
| namely:
| The Macon and Brunswick Railroad, I9S
miles in length; the Brunswick and Western
/ railroad, Ia miles in length; the majority of
| the stock of the Western aud Atlantic Rail-
ROAD Company; nor from taking One-half of
| the lease OF the Georgia Railroad for period
| OF nlnety-nlne years at 100000 per annum,
| which is equal to fraction over IA per cent.
annual dividend on the capital stock of $4,-
| 100000 of said road.
Not only has foreign capital flowed into the
| state ana been invested in the trunk lines
wnich nave been constructed since the es-
adjustment of the commission and those in
| existence before its establishment; but. from
| Ine records In this office, showing the number
| OF miles of branch roads built and being buiIt
| oy the cltlzens OF Georgia, 1t would seem that
| they have been stimulated to a degree IN
| providing themselves with railroad facilities
that has not been equaled in any five wears
IN the history of the State preceding the
same.
The present railroad system shows the State
to be well provided with trunk lines. and it is
matter of cOngratulatiOn to know that out
OF the l37 counties IN the State, there are only
- Whlcn are not traVersed by railroads, and
tnat many of these are of easy access to rail
road stations; and, from the numerous short
roads now projected and being constructed
we nave a gratifying assurance that it will
not be long before every county in the State
VIII nave within its own territory railroad
facilities.
These facts justify the conclusion that this
policy of the State has neither lessened the
confidence of her citizens IN the continued
value OF railroads located within the limits of
the State, nor deferred foreign capital from
seeking investment in the same. Neither do
the values, as shown by the market quotations
of the stock of Georgia railroads, as compared
with the quotations of stocks of railroads in
other Southern States, sustain the assertion
that the policy of the State or the action of
the commission has tended to their deprec-
alton.
The assurance of just and reasonable rates
oil transportation guaranteed to the citizens
by the law has inspired their confidence, as is
manifested in all sections of the State by an
increased impetus given to all branches of
manufactures and other industries
Moreover. we think that il can be Justly
claimed that fair and impartial review of
the work of the commission in carrying out
the purposes of the law by reduction and
equalization of rates that were of force bv the
railroad companies at the time OF It's passage,
VIII show saving to the people of Georgia.
annually, a sum equal to the full amount of
their annual taxes, while the healthy financial
condition of the railroads does not indicate
thaC they have been injured thereby.
In conclusion, we wish to eX press our appre-
clatlon OF the prompt manner in which the
railroad companies have furnished this Office
with reports and other information when
called upon. and for the carrying into effect
the action of the commission. A II of which is
respectfully submitted.
CAMPBELL WALLACE,
L. N. TRAMMELL,
('OTnmieaiOYaFc