The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-05-25
A BIG PAPER TO TACKLE.
THE SAVANNAH AND WESTERNS
Sls,ooo,oOO MORTGAGE.

The Force in the Office of the Clerk of
the Superior Court Have a Neat
Little Document to Put on Record
What the Mortgage is for and for
What Purposes the $18,ooo,oOo is to
be Applied-Whst the Savannah,
Americas and Montgomery People
Say About 1t.
Ac DIV of the consolidated mortgage for
$4,000, 900 given by the Savannah and
Western Railroad Company to the Central
Trust Company of New York, which is
being recorded in all the counties of this
state and Alabama through which the
Columbus and Western, the East Al abama,
the E lfaula and Clayton, the Eufaula and
East Ala ANA, the Buena Vista and Ella
vile extension, the Columbus and Rome
and the Savannah and Columbus railroads
pass, has been left for record in the office Of
the clerk of the superior court of Chatham
county, and Clerk Carr said yesterday that
it will be on record on Monday.
The instrument is lengthy one, and is
dated March |, 1889, given by Gen. r. I.
Alexander president of the Central Rail-
road and Banking Company OF Georgia,
and is made to secure 5 per cent. thirty-year
bonds bearing interest from date, the mort
gage covering all of { o Westerns lines and
holdings now constructed a d to be co.,
structed, including the Eden extension,
about which so much has been writer, the
pro- ose1 exte, sion from Americas to Ozark,
from Greenville to Newman and from
Opelika to r anoRe.
WHAT THE MORTGAGE is FOR.
The instrument sets forth that the mort
gage is 10 provide funds for dischargng
divisional bonded Indebtedness, "a ls)
to pay off the large q adng Indebtedness
incurred in building and equipping that
portion Of its ad already completed, to
complete and extend is line of road, and to
properly improve and equip the same, and
for other lawful uses purposes Of the
Western railroad"
The pecific uses TO which a portion Of
this SIS, 900, 600 is to be applied are declared
to be:
For the 1886 miles of the railroad built
and operated to be bonded not to
exceed $4,000 per mile ........... S4,47O,OOO
Security for the payment OF the old
mort gage on the Western railroad
Of Alabama - ,............. $4,000
the Columbus and western. 100000
mortgage bonds. ...',.,e........ 100000
To change the gauge between Column
bus and Greenyille to standard
gauge. .-,..-..--. --.....-...... oOu,UVO
IT MAY BE OR MAY NOT BE.
This move, the Savannah and Americas
people say, may or may not imply that the
Sls,O0O 900 bonds have besn foa ed. 1t will
be recalled that Col. Fry recorded las
summer a like NOR gage in all tle counties
through which MS prof ctei Atlanta, At
lantic and Great Wes.ern road was to run,
including Chatham county, and that l. the
last which h as been heard Of the bonds or
the road. It costs much less to record even
a voluminous mortgage like those given by
Gen. Alexander a ID Col. Fry than to build
either of the roads, although one or both
may be built. Thii being the clse, the
friends of the Americas road did not appear
TO be affected yesterday by the latest move
ment o. the Central.
Gen. Alexander is in New York, so that
no offici II information was obtainabls here
yesterday as to whether the bonds have
been placed, but it is claimed by some that
if they had b en- negotiated the informa-
ton would have bean sent TO Savan ali so
fast that it would have burned the wires