The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-02-18
State Road Rumors

Thers i, no reason to doubt that there
viii be bidders fo- the lease OF the Western
and Atlantic railroad When the bill
authorizing the leasing IF it was under con-
sideratior there were those who said that
no railroad aud no syndicate could afford
70 pay $4,000 a month for the lease, and
there are these row who assert that the
renta fixed by the legislature is too high,
particularly as the law requires that $780,
600 in state bonds. 20 obtain when it viii
require about 500, 600 in cash, shall be de-
posted as security T a faithful compliance
with the terms of the lease. Such talk as this
IS to be expected. but i. viii not prevent bid
ding for tho lease. The state road is the
best paying railroad property in the state,
and under the present lease somebody has
made great deal Of money out of it. All
the railroad men of prominence in the
country know that it is a very profitable
railroad aud it would not be at ali surprising
if the bidding for its lease sh ould be spirited.
A few days ago the report was set afioat
that the Louisville and Nashville intended
t. build road that would give it an At
lanta connection, and which would greatly
injure the state road. The Louisville and
Nashville may have such an intention, but
it is quite safe to say that it will not do 50
as long as there is a chance for it to get the
state road. The state road has business of
which it cannot be deprived by any road
which is likely to be built. 1t is true that
roads could be built that would greatly
injure it, and that is one of the reasons that
has influenced the MORNING NEWS in ad-
vising the sale of it, but there is no imme-
diate prospect of the building of any such
road, Notwithstanding the report to the
contrary.
1t is worth noticing that Mr. John II. In
man and his party of capitalists, when they
visited Atlanta the other day to attend the
chamber of commerce banquet, came from
Chattanooga over the Western and At
lantic instead of the East Tennessee, and it
is said that Mr.. Inuan's car was the last
one on tine train and that he occupied a seat
most of the way on the rear platform.
From this it is TO be inferred that he feels
very great interest in the road, and
that the Richmond Terminal may
be bidder for it. In Chattanooga dis
patch he is quoted as saying. 1--WE do not
intend the lease to be given away to the
Louisville and Nashville If the Rich
mond Terminal and the Louisville and
Nashville should bid for it the chances are
that the state would get more than 1886, goo
a month forit
There is a probability, of course, that to
avoid paying more than the minimum rental
mentioned in the law, a syndicate composed
8 ~ ID 80,
nal properties and the Louisville and Nash
vile might lease the road with the under
standing that it should be managed in the
interest of all parties concerned. Nobody
would be surprised if there should be some
such an arrangement. But whether there
is or not, the people can feel assured that
there will be bidders for the lease, and that
the state will realize as much as $50, 900 per
month for it.
There are rumors that the road is not in
as good physical condition as it was some
time ago. We do not believe that Senator
Brown would let it run down, although he
was greatly disappointed by the refusal Of
the legislature to allow the lessees any
compensation for beuterments. He is not
the man, however, to fail in any respect in
doing what the people expect of him. and
they expect him to maintain the roads
high standard of excellence.