The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-03-19
THE TERMINAL GETS 1T.
THE GENITAL RAILROAD LEASED
10 The GEORGIA PACIFIC.

| me erECS OF the Lease settled upon
by President Inmsn and the Central
Directory-Tho / ease to Be Approved
by the Majority Stockholders in New
York and the Transfer to Be Made
Within Two Weeks - kr. Inman
Points Out the Advantages to Accrue
to Savannah-Story OF the Lease.
The lease of the Central railroad by the
Richmond and West Point Terminal Com
pany for ninety-nine years has been practi.
cally settled. and within two weeks all de-
tails viii have been arranged. The lease
viii include the Ocean Steamship Company.
| The Terminal company's proposition was
discussed yesterday at meeting Of the
| Central's directors, at which John II. In
man, Hugh Inman, Sam Inman, Pat Cal
| houn, John G. Calhoun and James Swan
were present.
Gen. Alexander was seen after the meet.
| ing and he said that the matter had been
informally discussed and that the presence
of Messrs. Inman, Calhoun and Swami was
only accidental The matter, he said, ia in
stdtu quo, and could not be settled in Sa-
vannah anyhow.
President Inman of the Terminal COM
pany was seen at the De Soto last night,
and, while he did not care to officially an
nounce the lease, he said that it is under adj
visement and will be consummated at an
early day.
TERMS OF THE LEASE.
"The proposition" said Mr.. Inman, ''is
the lease Of the Central by the Georgia
Pacific railroad, and the Richmond Termi-
nal Company will guarantee the payments
honda n IN ha
stock. The matter will have to be first sub
mitted to the majority stockholders in New
York, and will be transmitted by them to
the directors here, who in turn will submit
it TO the other stockholders for approval
1.-THE whole affair would have been settled
next Tuesday, but for my detention several
| days In the south. | go from here to Au-
gusta, where have to remain a week. From
| there 1 will go to New York. / expect
| things will be definitely settled in two
weeks.
1.-THE lease, / believe, will prove of great
advantage to all parties concerned, minority
and majority stockholders, alike" Mr..
Inman said. "A guaranteed per cent. stock
| is valuable investment. and although it
will be per cent. less than the road is now
paying, the fact that il will pay per cent
steadily, and that it will not be subject to
fluctuations, more than counterbalances the
loss Of psr cent.
A BIG THING FOR SAVANNAH.
1.-THE contamination of the lease, IL IL is
consummAted, will give direct line from
Greenville, Miss, to the Atlantic ocean, and
will prove Of untold benefit to Savannah
All the freight for northern and eastern
cities handled by the great western con-
nections will be brought here and be carried
north by the Ocean Steamship Company
IL Is about the same distance from New
York to Kansas City via Savannah as 10 is
by rail direct, and the securing of reduced
freight rates by the former route will cause
shippers to turn their traffic in this direction,
Another thing to be gained will be the
building up OF Savannah as a grain port
Our lines will bring the cereal here and ship
it by water to the north.
DAILY STEAMERS TO NEW YORK.
This increased freight traffic will neces-
state in very short time q daily line of
steamers TO New York, which in itself will
be q great thing. Taken altogether, the
lease of the Central to the Georgia Pacific
| will prove great boom for Savannah,
| and property values will he benefited to a
great extent"
MIR. Inman intimated that If the lease is
consummated Hugh Inman would become
president of the Central, and Gen. Alex
ander would be promoted to another posi-
ton In the Terminal company.
THE TERMINAL DIDN'T DO 1T.
There is another thing" said Mr.. Inman,
that l want to speak about, and that is
the rumor that the Terminal company had
hand in defeating the negotiations of the
Macon Construction Company with the
Seaboard and Roanoke railroad
Neither the Terminal company nor any
one connected with it interfered in any
manner with the trade, or had anything to
do with breaking it off. We are not in the
wrecklng business and are not going around
breaking up new railroads. We have
enough to do to attend to our own
business, and l wish the public to
understand that the Richmond Terminal
Company is working to build up the
country and create business for itself by
furnishing facilities and improving its serv-
ices. There is room enough and business
enough for all, and we are not looking
about to crush new railroad enterprises or
to engage in contests with rival lines"
AS the Terminal company controls the
majority of Central stock it can be seen at
at a glance that the approving of the lease
by the minority stockholders will be, after
all, only matter of form.
STORY OF THE LEASE.
A gentleman connected with the Terminal
Company told a MORNING NEWS reporter
the story of the causes which led to the lease
proposition submitted by the Georgia Pa.
cific. When Mr.. Gould made his recent
southern tour he was greatly pleased with
the Central. and expressed the wish that its
business might be turned through the west
| ern lines instead of by the Kansas City and
Fort Scott railroad. That wish Of Mr..
Gould settled the matter and the Richmond
Terminal Immediately set about for means
to crafty it.
The only practicable way was to lease the
Central by the Georgia Pacific, which runs
| from Atlanta 20 GreenviIle, Mics, where it
| connects and controls short line running
to Huntingdon. Miss, opposite which is
Arkansas City, where the Gould lines ter
inmate.
Steps were taken to bring about this
| result, and from all indications Mr.. Gould
will have the satisfaction within two weeks
, of knowing that he has an ocean connection
with New York for his great western sys-
tenn, thing which he has long desired.