Savannah morning news. [volume] (Savannah) 1868-1887, 1884-12-14

WHY does not Mai. Wallace, instead Of con-
fusing the subject with earnings OF property
outside the State, increase OF the assets of the
company and such other foreign matter, con-
fine him self to the subject at issue, which is,
is the Central and its leased lines IN Georgia
earning fair return upon the amount or cap
ital that it would cost to produce the prop
erty? Why does he not make plain, bust
ness statement of the earnings of these roads
year by year, 0eduet from the same the inter-
est on the fixed obligations, and show you
what is left to divide among the stockholders,
and say whether or not he thinks 1t fair re-
turn? He does not do this.
He does not tell you that the train mileage
of road is meaSureably correct indication
OF ITS volume of business, and that IN the i've
years, ending in 1879, the earnings were
IS, 2S6, ILL., and the train mileage was 1888, 500
miles, and in the next five years the earnings
were &C. l12, l3l mot 6,27S 937, while the train
mileage was l2,647,549 miles, an increase of
$>S6,960 in earnings, but an increase in train
mileage of 3,954,050 miles. indicating an in
crease of tonnage out of all proportion to the
increase or revenue. This excess mileage
largely exceeds the total of any two whole
years between 1875 and 1873. Under such
rule, as the business expands the profits must
contract. To earn &86.960 more money we
must perform an additional train service
equal to the traffic business of the road for two
entire years.
With reference to Mai. Wallace's statement
that the decrease in the Central's business for
the year ending Sept. 4, 1884, was on through
business, and not upon local business, the
rates for which the commission fix, Presi-
dent Raoul said:
By reference TO the published annual re-
port of the company for the year referred to
by Mai. Wallace, ending Sept. l, 1884, 1T will
be seen that the revenue upon the traffic en-
tiTely within the jurisdiction of the commits
SIoners is about as follows:
Between Columbus, Eufaula, Albany, Fort
Gaines, other smaller stations on Southwest
ern Railroad and Savannah, and from station
to station on Southwestern Railroad there is
$llS,S $40 81 decrease.
Between Atlanta Griffin, other smaller sta
tiOns on Atlanta Division and Savannah, and
from station to station on Atlanta Division,
there is $4,000 o. decrease.
Between Macon. Milledgeville. Eatonton
and other smaller stations and Savannah,
also from station to station $6S,093 4S de-
crease.
1t cannot be questioned that the freight
rates between the above points are under the
control of the commission, and the aggregate
falling of amounts to s200,964 ~.
When we take into consideration the fact
that a large amount of traffic under the con-
troll of Commissioners rates is not included IN
the above statement, and when we consider
the great influence the local rates in Georgia
have upon the through rates, limiting in
great many instances the proportion we can
claim for the lines in Georgia, we could very
safely add SO per cent. to the figures above
submitted.
Only extracts from Mai. Wallace's argu-
ment and President Raouls reply are given.
The essential points are, however. presented.