New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-07-08

The Sayuhnah and Western Railroad Company
eanzed July 1885, by tho consolidation under the laws
OF Georgia and Alabama OF the following companies being
auxiliary lines and branches Railroad sys
TEN; The Columbus and Western Railway Company, the
East Alabama Railway Company Eufaula and Clay.
toh Railroad Company the Columbus and Rome Railway
Company the Eufaula and East Alabama Railway Com.
pany. the Buena Vista and Elavie Railroad Company
the Savannah and Columbus Railroad Company and the
Savannah and Western Railroad Company.
The road finished and in operation comprises line
from Americas, Georgia via Bucna Vista, Columbus
opea and Chldersburg to Birmingham. total distance
OF 219 2-10 miles; branch from Opellka Roanoke
81 miles, branch from Columbus Greenville.
gauge 80 miles; line from Eufaua to Ozark 81 miles
total road completed and in operation. 367 miles
Tho Savannah and Western owns its proper proportion Of
rolling stock.
The bonds offered are a FIRST lien, Gubject only to
the following outstanding bonds:
LIST 100000 Columbus and Western Railway bonds
due June, 1911. prior lien the road from opeka to
Birmingham
3D. $4,000 first mortgage Columbus and Rome
Railway the line from Columbus Greenvle.
An equal amount OF the Savannah and Western bonds
is reserved in the hands OF the Trustee for retiring the
aforementioned outstanding liens at maturity. and a
sufficient amount is also reserved to broaden the gauge
Of the line from Columbus 10 Greenvllle.
I'm addition to the foregoing s26O,OOO bonds have
been reserved proportionate amount
OF bonds Of the Western Railway Of Alabama due October
1890 covering about 30 miles OF road OF the Savannah
and Western X r. Co.. the above amount having already
been paid the Western Railway OF Alabama by the
Savannah Western r. r. Company and the former
company having assumed tho payment thereof principal
and interest.)
The mortgage covers the entire property Of the CON-
pany, including its equipment terminals &C., acquired or
hereafter to be acquired
The total issue authorized by the mortgage is limited 10
$4,000 per mile OF railroad actually constructed,
equipped and in operation.
The capital stock OF the Savannah and Western Railroad
is owned by the Central Railroad and Banking Company
OF Georgia
The payment OF the sJ,00O,OOO offered for sub.
scrpton is guaranteed principal and interest," by the
Central Railroad and Banking Company Of Georgia the
guarantee being ndorsed each bond
The Central Railroad and, Banking Company Of
Georgia is of the oldest railroad companies in the
United charter dating from 1888 Since 1912 1t
has returned stockholders 401 per dvi
dcnds average OF about per per annum and al
though practically destroyed in the last year Of the
war has In twentyour years since rebuilt itself and paid
It's stockholders hundred and eghty-nne per cent
in dividends without increasing It's indebtedness per mile
above the capitalization before the war. The system
as whole is paying per cent dividends, and expanding
a large sum in bettermcnts yearly.
The last annual Dune 80, 1851 of the Gen.
trail Railroad system shows
Gross earnings.... s5,52O,177 So
Expenses:
Operating and
taxes .............. s2,491,799 o,