The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-05-03
Rail- AND CRoSsrIE

Tns Railway Agents Association Of Flor.
lda mas become solid Institution Il will
send delegates to the rational convention Of
agents, which meets this month In Denver.
w. B. Watson, superintendent, and S. NJ.
Lorlmer. assistant superintendent Of the
indian River Steamboat Company, having
resigned, Z. Ii. Bent has been appointed
superintendent, and the position of assistant
superintendent is abolished.
Air brakes have been practically applied
to cable cars in Chicago, and work wonder
ruby We'll The arr is compressed bV a
pump operated by an eccentric rod COZ
hected with an axle of the car, and the
same plan can Re used upon electric cars.
Robert Gamble having been assigned TO
the position of assistant superintendent of the
charlotte HarbOr division of the jackson
vile, Tampa aud Key West, the position Of
master of transportation has been abolished
and that Of trainmaster created E H.
Spencer, chief train dispatcher, is promoted
g. the position Of trainmaster and A. G..
w hltney to chief train dispatcher.
The tax returns of the railroads in the
state, which should be in the controllers
office on May l, says the Constitution, are
coming In rapidly. Up TO date the returns
OF but one have been rejected. That was
the Augusta electric road, returned at &, 900
per mile. Controller Wright has notified
them that their returns would not be ac-
cepted, and that he would be forced TO value
IL. They were, however, at liberty to ap-
peal. The Atlanta road was returned at
$1,000 per mile. do you know said Mr..
Wright, speaking of railroad taxes, that
the Georgia railroads pay annually to the
state more than $4,000 in taxes.
Indeed, the railroads pay about one-ffth
OF the total state revenues raised by the
taxation ofproperty. Altogether, the rail-
roads last year paid out $4,000 in state
and county taxes. This year they will pay
considerably more, for, by an act of the last
| legislature, all INCORPORATED towns and
cities are allowed to tax railroads in prouor-
ton to the mileage in their Incorporated
limits. The roads are required to report
their property in each town to this office,
and III turn we are required to report the
same to the towns and cities, allowing each
Incorporated town to tax, not o ly the fixed
property In its limits, but rolling stock and
personality in proportion as the trackage
In its Incorporated limits is to the
total mileage. THAT will be quite an item
to the railroads, too" continued Mr..
Wright. "As All instance, the Sa vannab,
Florida and Western has more than $780,
900 of fixed property in Savannah. The
city taxes are about per cent. Thus you
will see, on their fixed property alone this
road Will have to pay more than IS, 600 of
taxes annually in addition to tleir annual
taxes heretofore AS this tax is an addi-
tional expense, presume the railroad COM
mission will be called upon by the railroads
TO take it into consideration in making
rates. Railroad property is increasing won
derfully in Georgia" Mr.. Wright went on
to say. "Since 1879 it has increased $40
| 100000. Last year it increased 81, 900, 900,
and this year it will exceed that amount "
The bonds of the Charleston, Cincinnati
and Chicago railroad recently sold at %.
The bondholders have agreed upon a plan
of reorganization that may rescue the road
from its difficulties. They agree to give up
their first lien on the property for Sc, 567 900,
| and place new mortgage for 81. 500 900
ahead Of their bonds. The proceeds of this
new loan will be used in completing a num-
Der of gaps in the line of road in Tennessee
| that will tend to make the whole line of
value. The road would then be complete
as far as it went, and by means Of connec-
| tions, which would be formed with other
companies, business would be obtained
which cannot now be secured. 1t is re-
ported that the new loan can be fioated.