The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-03-20
A DEAL IN CANAL STOCK.
The Central Railroad Gets Control of
the OReechee Waterway.

the Ogeechee Waterway.
The Ogeechee canal is not great water
way to attract the attention of the million
aires. In fact, it is so modest and retiring
in its flow that not even an appropriation
to deepen its channel has ever been aske
of Congress. 1t is no doubt much more de-
serving than some of the nameless creeks
that start nowhere and empty into a hole
in the ground in districts where the solicit
tude OF the people controls the election of
Congressman who are pledged to get big
appropriations under pain of retirement to
the shades of private life.
The Ogeechee canal has never been polit-
ical factor of this kind. Few people know
that it is navigable at all, or that it is
owned by stock company which declares
dividends from the use Of It's waters by the
back country Cracker" who recklessly EN-
barks on its waters with an open flat boat
and brings HAT dozen barrels of rosin to
Savannah, or a raft of lumber or timber of
a thousand feet or so, thinking that the
naval stores and timber supply of
Savannah would be cut off, and
the city go to the demnition
bowwows, if peradventure the Ogeechee
canal supply should be cut off. 1t is this
barren ideality existing IN the minds of the
crackers who navigate the narrow and shall
low stream that leads them to demand ten
points more than the market of Liverpool.
From the disconnected and uncertain tide
OF navigation, or more properly speaking,
the regularity OF the irregularity of ship
ping on a canal fifteen miles long, the divi-
dends have not been of such magnitude as
to attract the attention of Jay Gould or
the Standard Oil Company. There has been
no corner on Ogeechee Canal stock, nd the
bourses of Europe and the exchanges of
Wall street have not been besieged by a
wild-eyed crowd trying to get long on
Ogeechee Canal stock.
Locally the Ogeechee canal is known
more because it is an excellent drain for
the west and southwestern part of the city,
and because it is resorted to by the very
amateur Isaak Waltons, piscatorially in-
clined, who along its grassy banks imagine
they are fishing as they fight mosquitoes
and feed clubs too small to swallow the
hook
A very old man, who knew an old pioneer
whose fish stories were as true as Ward
Allen and Wesc otis duck stories, says that
bass were once SO plentiful in the Ogeechee
canal that they used to come out on the
bank after the bait. Recent cases are cited
where fishermen have been very successful
but investigation shows that the fish were
always "a little higher up" and brace of
tourists who were determined to investigate
fishing Just a little higher up" until they
struck the Ogeechee river.
But tC the recent movement in Ogeechee
canal. Its waters have been stirred by a
master fisherman. The Central railroad
has been fishing in Ogeechee canal When
this system fishes it fishes on the intensive
system, with a sharp hook, rong line
and an elastic rod It owns mile of real
estate along the west bank and as far south
81 Indian fha n,,n1 rixro
The Central went fishing up the Ogeechee
canal the other day, and when it wound up
its reel and unjointed its rod, it had full
basket-of Ogeechee canal bonds.
A MORNING NEWS reporter saw President
Alexander yesterday in regard to the move
ment. The General was asked if the Cen
trial is going to make the Ogeechee canal a
great channel of navigation, and if it is to
be made deep ship canal or if the Central
intended to build railroad along its banks
In reply he first laughed heartily The
Central had no schemes of such magnitude.
he said. The Contra! had merely found
some Ogeeche3 canal stock in the market
and very cheap. 1t was a stock that was
only paying dividend of about per cent.
q year. The Central is interested in the
canal only at this end of the line, and as it
was crossed in one or two places by the
Central and as some of the stock was on the
deemed necessary for the Central to bridge
it at other points, Gen. Alexander said, and
it bought the stock with a view to that.
Are YOU prepared to state whether the
Central has bought controlling amount of
the stock7" he was asked.
THAT cannot say. 1 really do not
know"
How much of the stock does the Central
now owns"
Il cannot say with certainty" he replied
81 can only say that this stock was in the
market, was cheap, and we bought it.
cannot say what the amount is The Cen
trial is interested in the property only by
reason of its passing through our property
here. We may want to bridge it at other
points, where our property is located along
its banks, and it was thought best to take
the stock offered us. That is the only object
we had in view in buying"
The natural inference is drawn that the
Central is not short on Ogeechee canal
stock If it bought stock that it might not
be deferred from building across it, the i'm
preston will be very general that it bought
enough to get across. The Central never
builds bridge half way across anything,
and the Ogeechee canal is not likely to be
an exception.