Savannah morning news. [volume] (Savannah) 1868-1887, 1885-11-27

o. tue Louisville and Nashville rallroad
company for toe term III i've years. Ihe
lease expired last Nav and lis control
aud management reverted % The " esteTn
railway.
The Port ROYAL and Augusta railway
has fallen OF about $4,000 in gross earn
in-s as compared with last year, but re-
duction IN expenses hes effected gain IN
net over last year az slJ.-5I O.. which
secures il a net revenue sufficient TO pay
Its hNed charges.
In the reference made 70 the Epson
County railroad 30 the last report, Il was
stated that the accommodations for several
years past OF earnings, over operating
expenses had secured TO the credit OF that
company S5.2s5 s. which had been al
lowed % accumulate for the purpose OF
renewing the worn out rails. The Direc-
tors OF that company, however,
concluded that all this, together
with the net earnings Of the year, would
not be required for this purpose, and paid
q dividend Of per cent. 10 tue st0ckhoid-
ers, amounting to s.. 400 80 The gross
amount TO SIG 963 50, aud the expenses,
including the outlay for the removal of
the woTnOut rails, amount TO f22,263 %,
making deficit for the wear on the ope-
rsuOns Of the road Of $1,000 81. Taxing
Unto consideration the credit Of last year
Of S5,2Sj IS, and the dividend Of s., 400 30,
there Is left 10 the debit Of the company at
this date S2,4l5 p.
THE FLOATING DEBT.
Gin the last report, the floating debt Of
tue company, as represented by bills pay
able was shown to be 1887. 7Go 10, but de-
Quoting from 1t the available credits
Gre ated within that year. the actual debt
was, IN reality, shown to be $526,6S2 10.
The floating debt of the present year. as
represented by bills PAYABLE, amounts to
$4,000, but deduct from this the Increase
in securities and balances on open ac-
counts, the resulting balance will be
less than the year previous.
"Out Oftne many applications that have
been made to the company during the
past year for assistance in building
branch roads, the board determined 10
aid such as they thought capable of being
sustained by the section of country into
which they were projected. through the
development that usually follows the
construction Of railroad into IN
occupied territory, and thus become
valuable, ultimately. as feeders
to your road. This assistance has been
rendered by supplying them with the old
iron rails taken up from our main line
tracks, yet good enough for further SER
vice on roads Of light traffic. For these
these respective branch road companies,
and on such terms as 1t is believed they
will in a short time, if not Immediately,
protect the interest and ultimately the
principal.
The branch roads assisted on the
above terms are the Buena Vista and
Ellavile railroad, from Andersonville, on
the Southwestern railroad, TO Buena
Vista, ia Marion county, a distance of 2G
Of
Rome railroad, from Chipley TO Green
Vile, a distance of II miles; the Wrights-
vile and TennIlle rail.oad, from Tennille
station, on the Central railroad, to
Wrightsville, in johnson county, a dis
lance Of Is miles. contemplate its ulti-
mate extension to Dublin, in Laurens
county, 10 miles further. and the Sylvania
railroad. from Rocky Ford. station on
the Central railroad, to Sylvania, the
county seat of Scriven county, distance
of rs miles.
''rhe Central railroad is now laid en-
tirely with steel between Atlanta,
Savannah and Augusta. Deducting the
branches, the Southwestern railroad has
$50 miles Of main track, Isl of which Is
now laid in steel.
ION Sept. IL last, the boilers of the
compress at Eufaula exploded. setting
fire 10 the structure, which resulted in the
Lhbdl uc1lt utllDl vi the DuliultlE ana sUeQb.
10 freight cars and 403 bales of cotton,
and considerable damage to the COM
pressOr. The press and buildings were
replaced at once, and early enough to
make them available for a portion of the
seasons business. The operation of this
press and its counterpart, established
about the same time at Columbus, have
entirely fulfilled our expectation.
TERMINAL FACILITIES.
''For number of years past, your COM
pany, as well as the p TT of Savannah,
has been seriously embarrassed tor the
want Of sufficient terminal facilities for
han ding the increased volume of cotton
business, or its increased concentration
within lever months.
"Under the recommendation of this
company the Ocean Steamship Company
purchased the waryes and buildings Of the
Central Press Company, situated on the
east bank Of the Savannah ana Ogeechee
Canal, opposite its present property.
"By grant from the city, the tracks OF
the road have been extended across the
canal TO deliver freights to and from these
warehouses and wharves. The amount
saved by this arrangement, In the handl-
ing OF cotton, will pay very satisfactory
return upon the Investment.
"For some years past the question of
changing the gauge of the tracks
of the roads OF the Southern States.
from the Southern standard OF five
feet to the Northern standard OF
four feet nine inches, has been one OF
serious concern. 1t is no question OF I'M
proving the property, or of giving any
greater earning power to those roads not
now bearing the heavy burden of trans
fers at the points where the
different gauges meet. IL any diff
ference in convenience or practical
value exists between the two standards,
il is perhaps in favor OF that of i've feet,
yet too great majority OF the railroad
mileage OF the country has been con-
structed to the four feet nine inch gauge
TO consider for a moment the possibility
of change from that standard, and those
companies connecting with the narrower
gauge, are subjected TO so great an in
convenience and expense In making
transfers, that 10 has become a measure
OF economy for them to change to conform
10 their Northern connections. Some Of
the Southern roads have already done
this, and now, those forming all the
direct connections with our lines, have
determined 10 do likewise in June, 1856.
ARRANGEMENTS are now being made TO
effect this change on all the roads con-
tr0lled 10y your company during the month
of June next. The cost OF this change
Will be considerable, aud II is the purpose
Of your board TO eDdeaYOr to provide the
money from outside sources, and so ar
range il as a portion of the debt thus Gre
ated may be liquidated each year by abb