New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-07-07

The Savahnah and Western Railroad Company was or
gained July l. 1885, by consolidation under the laws
OF Georgia and Alabama Of the following companies being
auxiliary and branches Of the Central Raroad sys-
ten: The Columbus and Western Railway Company the
East Alabama Railway Company. tie Eufaula and cay
ton Rairoad Company, the Columbus ana Rome Railway
Company, the Eufaula and East Alabama Railway CON-
pany the Buena Vista and El.aville Railroad Company,
the Savannah and Columbus Railroad Company, and the
Savannah and Western Railroad Company
The road finished and I'm operation comprises line
from Americas, Georgia, via Buena VISTA columbus,
Opeka and Childersburg Birmingham total distance
219 2-1O miles branch fIom Opeika to Roanoke,
81 miles, branch from Columbus 10 Greenvie. narrow
gauge so miles line from Eufaula to Ozark 81 miles;
total road completed and in operation. 367 miles
and Western owns It's proper proportion OF
rolling stock.
The bonds now offered first len subject only to
the following outstanding bonds:
Ist. $500, 900 Columbus and Western Railway bonds,
due june 1911 prior lien the road from opelika TO
Birmingham.
ID 100000 first mortgage, Columbus and Rome
Railway, on the line from Columbus to Greenville.
An equal amount OF the Savannah and Western bonds
is reserved in the hands of the Trustee for retiring the
above mentioned outstanding liens at maturity. and
sufficient is also reserved 10 broaden the gauge
of the line from Columbus 70 GIeeDvlle
lin addition to the foregoing. $3.50, 900 bonds have
been reserved out caution for proporonate amount
Of bonds Of the Western Railway Alabama due October
1890 covering 90 miles OF road OF the Savannah
and Western r. K. Co.. the above amount having already
been paid over Western Railway Of Alabama by the
Savannah and Western L. X. Company and the former
company having assumed the payment thereof principal
and interest.)
The mortgage the entire property of the COM
pany including its equipment, terminals &C. acquired OF
hereafter 10 be acquired
The total issue authorized by the mortgage is limited
$4,000 per mile Of railroad actually constructed,
equipped and in operation.
capital stock Of the Savannah and Western Railroad
is owned by the Central Railroad and Banking Company
Of Georgia.
The payment Of the sJ,O0O.OOO offered for sub
scrpton guaranteed principal and interest by the
Railroad and Banking Company Of Georgia the
guarantee being Endorsed on each bond
The Central Railroad and nanking Company Of
Ceorria Is olC the oldest railroad companies in the
States its charter dating from 1888 Since 1912 It
has returned 10 stockholders over 400 per cent in dv
dends OF about per cent annum; and al
though It was practically destroyed in the last year OF the
wart twenyfour since rebuilt itself and paid
its stockholders hundred and eghty-nne per cent
in dividends increasing its Indebtedness per mile
above the capitalization before the war. The system
as whole is paying per dividends, and expanding
a large sum bettermcnts yearly.
The last statement June &c. 1881 Of the Cen
trial Railroad system shows:
Gross earnings....- 93,J20,177 IS
Expenses:
Operati ng and
taxes ............... S2,491,799 %
Betterments and adj
diuons property 3O0,457 60 2.SO1,257 66
Net earnings. S2,71S,92 22
Fixed charges
Interest bonds. sS35.017 80
Interest loans. 1880 81
Rental Of roads. 4333S7 90
Interest certf-
Gates OF indebted
ness ...-..........-. $4,000 90 s1,59d, O25 O3
r EXC1s su OF INCOME OVER SI,I24,S95 10
Disposed OF follows: