The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-02-01
TO FORM a THROUGH LINE.
The Macon and Atlantic 20 GO TO the
Macon. Dublin and Savannah


The Macon and Atlantic 20 GO TO the
Macon. Dublin and Savannah
The application by Receiver Sparks OF
the Macon and Atlantic railroad to the
courts 70 sell the road at auction, setting
4 forth for his reasons that the property
would decrease in value in its present con-
dition. and that a sale would be for the
/ best interests Of all parties concerned, Is
/ supposed 20 mean that it will 90 into the
/ hands Of the Macon, Dublin and Savannah.
IL is also understood that the sale Of the
Macon and Birmingham road will follow
aud that the three roads will form part Of
through line from Savannah TO the west.
It Is understood that the plan decided
| upon is 70 have the present bondholders Of
! the road buy the road in at the receivers
sale. thereby relieving the road Of all fur
Their membranes and placing it in a posi-
ton to De negotiated for in any manner
that might be deemed advisable.
After the road has been bought in by the
bondholders it will be sid to the Macon,
Dublin and Savannah. and that line thus
completed from Macon to Savannah. This
is the plan reported by the Macon Teie-
graph.
1t is understood that there will be little
difficulty in economically connecting the
two lines between Dublin aud Brewton
not have to be changed, as has been sup
posed.
As TO the price Of the road it is stated
that its value can be safely estimated at
$3.50, 900, and it may bring more. The
present assets of the company consist Of
ninety miles Of graded line, together with
forty miles Of iron, besides other minor
property.
As above outlined, after the Macon and
Atlantic has been sold. it is the purpose to
have the Macon and Birmingham sold at
receivers sale and bid in by those who have
their money at present in the read. This
IS also to get relief from all entaBglemeuts
and open a legitimate channel for any ar
engagements that might be entered into.
1t cannot be positively stated that the Ma
con aud Dublin will be in position to buy
the Macon and Birmingham outright, but
1t is sufficient that the latter line will form
part of the former and be a part OF the
great line from the west to tine coast as
above stated.
1t is claimed that the price to be paid
for the Macon and Atlantic will be enough
to insure the present investors against any
great loss, with the exception of tho $780,
OOO which has been spent in the work done
at and near SOfkee, which would be value
less TO the Macon and Dublin.
IL is thought the Macon and Birmingham
would be worth as much, If not dollar for
dollar, for the new purpose to which it is
to be put, and by these coming deals, it is
confidently believed that Macon investors
| will yet come cut in good shape.
The vice president Of one Of the largest
banks in Macon offered 50, 500 for a share of
Macon Construction stock Saturday, and he
| has not yet been able to buy.
Holders of the Macon Construction stock
say it is next to impossible to substantiate
reports of a lack of confidence in that
stock, when the cash is put forward as an
| agent.
Receiver Sparks was asked if there was
ANYTHING even in that offer to be elaUed at,
and he replied that Macon Construction
stock would yet be worth par, though ad-
hitting that it was gratifying to note such
offers. Thinking railroad people and fl
nanclers say, with the Georgia Southern
road its sole property, the Macon Construc-
ton Company will be enabled to soon pay
all debts, and its stock will be worth as
much as ever.