The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-02-09
TERMINALS NEW PLANS.
osER ALLIANCE OF SOUTHERN
RAILWAY SYSTEMS.

r.a rrlanger system Likely to Be
Co,solidated With the Inman Roads.
-, alexander Does Not Speak
pos.tively, but he Has Heard Of the
eobeme-The Central, While a Part
=. the Terminal System, is Not In
..rasted in the New Deal
Tho attention of Gen. E. P. Alexander.
.siiant of the Central railroad, was
P.nad Yesterday TO the Wall street rumor
- the Richmond Terminal Company con-
.--,,lates consoli dating all the southern
-.1roads east of the Mississippi and south
- t,e Ohio rivers under one management,
~ ba was asked what foundation there is
for the rumor.
Can Alexander replied that he had no
,srsonal knowledge that such far reach
80 Droiect is contemplated, but while in
Nav York he did hear that negotiations are
randiuc looking to the consolidation Of tine
Cincinnati. New Orleans and Texas Pa
cife or Granger system with tue other
systems already controlled by the Rich
mond Terminal Company.
THE CENTRAL NOT IN 1T.
Cen. Al xander says that the Central is
m friendly terms with the Erlanger sys' EN-,
or O1een and G. eSce It, and il is not inter-
+eIin tie deal either one way or a lother
Int he holds, and has long held, that such
consultations of great trunk lines tend to
SIRE. CITIZEN established lines of railw aY, in
sure the prompt movements of freight a
minimum rates and at minimum ope ating
EXPENSES. and some such plans of consolida-
ton is now recognized rs the wanting factor
in the successful operation Of great lines of
railways
Abiding to the dispatches sent out as to
what roads will be included in the con-
solid alton Gen. Alexander says that the
Queen and crescent is the only one m n
Toned which is not already controlled by
the Rio mond Terminal Company He
saws the Virginia Midland and North Caro-
lima, Charlotte. g lumbia and Angus a, t 10
Columbia and Greelville, the Atlanta and
Charlotte, the Georgia Pacifir, the Central
Railroad of G orgia, and the East Tennessee,
Virginia and Georgi are already CONTROL ed
by the Richmond Terminal Company hold
ing a majority Of the stock of the East
Tennessee, vi ginia and Georgia, as they do
of the Central.
THE Q. AND c. SYSTEM
The Queen and Crescent runs from Gin
cinnati via Chattanooga, Birmingham
Meri lian, Jackson, VicGsburg and Monroe
to Shreveport, L uisiana, with a branch
road from Meri han, Miss, to New Orleans.
Gen. Alexander says that he does not
know the secrets OF the pending negotia-
tons, but he is inclined to believe from what
he heard IN ew York that the Queen and
Crescent is the system which it is sought to
bring into the consolidation.
The Richmond Terminal Company has
issued pamphlet report of the workings of
its various properties, and a New York cor
respond mt who interviewed John II. IN
man, says that Mr.. Inman, when questioned
concerning th sc eme, admitted that nego-
tla,ionS were under way looking to a closer
alliance between the four systems of the
Richmond Terminal, Erlanger system, East
Tennessee and Georgia Central.
A CLOSER ALLIANCE.
It would be closer even than traffic alli-
auce. He said ne would not confirm the
OF er details, but said there were ideas sue
as they pointed to Sin the air. He said,
how eve , that ne had ;ecently received an
offer for 49, 0uG, 900 f Richmond Terminals
treasury sock aG p. The present price is
2215. This would bring the whole Issue of
stock up to 500, 5000 o. and put Sl2 900
in casn into the treasury and give the con-
troll of the system to the parties making the
offer. He declined, however, he said, to
consider The offer in the shape in which it
was made, and othlng definite had been
done in the matter, although it mad bean
talked over at several meetings. He would
not say who it was that made him the offer.
THE TERMINALS LITTLE BOOM.
The Richmond Terminal Company has
issued a statement of It's financial affairs,
from which the following extracts would
indicate that it is interested in boomi its
stock with probable view of putting a
block on the mari ct:
"The company now controls 1881 miles
of 70 and water lines, al increase of 277
within the past year. Last year was the
first in which the compa y had a surplus
over fixed charges In every year before
that, since its organization, its interest
charges and running expenses exceeded its
income, and there were years in which its
only income was the proceeds of loans. That
for the first time there is credit to the profit
and los, account is due to the fact that the
losses IF previous years will be nomi ally
offset by charging up $500 600 capital as
full paid, although previously carried on
the books as half paid
AN ARGUMENT IN FIGURES.
"The net revenue for the past year was
s66S, $50, the inc ease in the bonded debt
s., SOC, O. @, the dec ease in the floating debt
ST. 1873, l03 "a, and the net increase in the
total debt S2,506,8l7 16. This let increase
of debt IS rep eae ted by an excess of Sc
curities acquired over securities sold of
81, 175, $50.
sit IS probable that during the current
year the fioa ing debt of a little over 81, Co.,
600 net can be fu Their reduced by the with
drawal Of some securities. The company
has now left a comparatively small amount
of securities " hich it could withdraw to
advantage, and it will require al expensive
development of the prope ties which it con-
trols before their surplus eal ming power can