The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-09-20
RAIL AND CRoSsTIE

so,,bla track from Fernandina to the
-.a.oSste fields is the latest rumor.
pm - Georgia Southern Railroad Company
Aho - 400 box cars and 100 nat cars
nas new Macon and Atlantic railroad
c,.v ~ Knoxville bonds given TO the
,, ~ and North Georgia road have been
MAJ. AZ los. and not the bonds OF the road.
seiIl-s sosred in a recently published railroad
item.
nj orading the first ten miles OF the
t1a'Isoa,9s and Calera railroad. de has
y r;tS his forces TO Troy to begin work
on another CONTRACT
The railroad mileage of the twelve south
ststes hos increased during the decade
cru ~ 80s to 81, S92, or lis per cent. with
It'll on ,,iIss more in process Of construction,
rs rs nndsr survey and 9.475 projected.
n. the mast two weeks the East Tennes-
0Vi-Tinia and Georgia has been trying
the Kentucky Union and the Lex
49,! " BeIt Line road at Lexington, KY.
i.5? aid the deal has been consummated.
III consideration is said to be S2OO,OOo.
7. .he Norfolk and Western railroad builds
Il, Rris,ol 70 Knoxville It is said that the
ut Tennessee, Virginia and Georgia rail-
- proposes TO retaliate by building from
1pSristoI to Danville, Va, thus carrying all
;ts business to the Richmond and DanVllie
system.
T;ckets over the Alabama Midland and
The savannah, FLORIDA and Western rail-
roads have been placed on sale at the
Office of the East Tennessee, Virginia and
GaoroIa at Montgomery. This is new
arrangement ior 'ne 0on'onioAo0 "a 'Ae
travelling public.
Wednesdays GAINESVILLE Sun says: 1t was
reported yesterday that the surveying
Iep Of the South Florida railroad had
.oarhsd a point one mile east OF Arredondo
a"d six miles distant from this city, and
tbs, the line would be completed TO Gaines
ri1Ie inside of a week. 1t was also reported
that the road will be extended from Penn
barton Ferry to this city as speedily as pos
sible.
the Nashville Chattanooga and ST. Louis
stockholders have authorized an increase of
10 ner cent. in the capital stock, amounting
N ss67 600. 60 be offered TO the present
stockholders. Of this amount $500, COO will
he used to pay for $500, 900 of GeorPia bonds,
which have been bought and dept sie,i with
the state of Georgia as seourl y for the
Western and Atlantic lease. The balance
viii be used for improvements on the road.
The Guyton Chronicle says: "The en-
cheering corps of the Macon and Atlantic
railroad has reached our town. and are now
engaged in laying the permanent route Of
tbe road. We regret to learn that some
objections have been made since the party
crossed the river to granting the right of
way. But ample provisions have been made
nv the laws of the state for all such emer-
qencies. and the road will not be blocked by
objections. A meeting was held last night
at the town hall to take into consideration
the granting of right of way through the
town, and other facilities. 1t was heartily
responded to, and the company will not
have to surround our town on account of
want of accommodations
The bondholders of the Covington and
Macon Railway Company have appointed
Messrs. Alex Brown, S. Wilmer and William
j c. Shaw, who have pooled all bonds and
made arrangements with the Safe Deposit
and Trust Company of Baltimore to act as
the depository, which will issue negotiable
receipts. Five dollars must be paid on each
bond at the time of the deposit as a
fund to employ counsel and to cover such
expenses as will be required in protecting
the interests of the bondholders of the road,
which was recently placed in the hands of a
receiver. The committee has been au-
thorized to add two members to their num-
Der, and TO limit the time within which the
VJhIo may bc ulopOnc0 VI, az bnSlI AioCTSblOn.
The arrangement has been 80 drawn as to
authorize the committee to dispose of the
bonds which they may present for not less
than par and accrued interest. The failure
Of the Covington and Macon road to meet
the interest on its first mortgage
bonds which fell due Sept. /, has
caused serious depreciation in the
price Of the bonds. and has tempted specu-
ators to depreciate the bonds by a threat
Of protracted and expensive litigation IN
I'll the control of the property can be OBJ
tanned for sum far below its value This
Situation of affairs confronted the bond
holders, and at the meeting which ap-
pointed the committee $640, 900 of total
Issue Of 81, $4,000 of the bonds were repre-
seated and since the meeting the committee
mas received assurance of the approval of
tne course adopted from sufficient number
Pie whole.