The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-10-24

which the Plant Investment Company, or
Mr. Plant, is a stakeholder.
The situation will no doubt be more fully
developed IN few days, and if the Terminal
company lets the contract soon for the Eden
extension. and for two new steamers, then
those who doubt the designs of the Terminal
company will have little reason TO mold out.
A GEORGIA MOVEMENT.
Gen. Alexander believes, and said, that
those who dominate the Terminal company
are Georgians, whose interests are in this
| state have their Investments here, and he
believes that the consolidation has for one
Of its objects the making of Savannah the
great seaport city and railroad terminus Of
all the principal roads of the south and
southwest. 1t Is already the terminus for
| the Central, the Savannah, Florida and
| Western, the Charleston and Savannah,
and will soon be for the East Ten
| nessee. Virginia and Georgia, all
controlled by corporations among
whom there is mutual friendliness,
and an affinity growing out OF close rela-
tionship. The question has already been
asked will not the Plant system be the next
D. 20 into the consolidation! Mr.. Plant
beng a stockholder in TIE Terminal Com
pauy, it is taken for granted in some quart
ers that he believes consolidation is a good
thing. It is also suspected that the Louis
Vile and Nashville will next command the
attention of the consolidat1rs
THE CENTRAL's APPENDICES.
Amid the shock to the little roads the
TyDee road was incidentally mentioned 10
Gen. Alexander as a good investment Tor
taking summer tourists to the seq. the
general laughed and hinted broadly that
the Terminal people are after larger game.
Among the franchises which 60 to the big
company. the Ogeechee canal should not be
=. - he
Central goes east he will no doubt take
'ong the picture which shows himself and
officials in a canal boat far up the Ogeechee
canal cunning for alligators and admiring
property once valuable for boating cord
wood. but now only the tail of the stipend
Gus Terminals kite, and as such let the pic
ture so on with the rest of the inventory.
THE TERMINAL COMPANY.
The Richmond and West Point Terminal
Company was incorporated by an
act Of the Virginia legislature,
passed Marcn S, 1850, with authority to
acquire stocks and bonds of railroad COM
South Carolina, Tennessee. Kentucky,
Georgia, Alabama, Mississippi and
other states. 1t was organized in
the interest Of the Richmond and Dan
vile Railroad Company, for the pur-
pose of acquiring control Of railr0a Is not
directly connecting with the Richmond and
Danville, the charter of the Ia ter prohibit
ing it from owning stock i'll any but con-
Meeting liues. Amendments to It's charter
permitted it to increase its capital stock
without limit, to consolidate with other
companies, and TO change the name at will
to Richmond and Danyille and Southern
Railway Company.
HOW IT WAS BUILT UP.
Its capital stock in 1881 was s., O00, 900, of
which tha Richmond and Dauville owned
$l,5l0,000. In 1882 its stock was increased
to s., 000, 900, and its next jump was to $l5,-
600, 600, the Richmond and Danvlle owning
just controlling interest. Shortly after
its formati n the company, with Sl5, 900, 900
capital, acquired control of various rail
roads in the south, having an aggregate
mileage of 729 miles, and represented by
s.. 69l, 900 stock, which cost the Terminal
al average of 80 Der share. To
this mileage was subsequently added the
Virginia Midland railway. The mileage
owned and controlled in the system had in
creased since 1881 up to November, 1887,
when it had 4, 497 miles Of rail line and 200
miles Of water line.
THE EAST TENNESSEE DEAL
In January, 1887. the Terminal secured
81, 500, 900 preferred stock of East Tennes-
see, Virginia and Georgia road giving it
absolute voting control OF that company
until July l, 1891 The price paid for the
stock was "a ,000,0 900 cash and 81, 900 shares
of common stock. The total stocks and
bonds owned by the Terminal are $40, SILL
O96 Of which 81, 416 is on deposit with
the Central Trust Company OF New York,
as security for loans. Other than its last
the Terminals property has
cost it S52, 965, 401.
THE SYSTEMS MILEAGE.
The mileage that the Terminal company
now controls, figured from Poor's manual
of railroads is as follows:
RICHMOND AND WEST POINT
Richmond and Danville and leased
lllltS 40
Richmond and Mecklenburg .... 81
Virginia Midland ....... ........4l3
Washington, Ohio and Central 80. so
Charlotte, Columbia and Augusta. 373
Columbia and Greenville. ..........?96