The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-11-08
A Better Outlook for Central.

a Better Outlook for Central.
The report which Mr.. Conner. the presi-
dent OF the Central railroad, makes to the
stockholders Of the road, the full text Of
which is published elsewhere 10 this issue,
will prove an exceedingly gratifying one to
them and to the other security holders, be-
cause it points on; that there is a way to
get the road out Of its financial difficulties
and place il on a firm financial basis.
The report which President Conner made
to the court is a very complete one, showing
a comprehensive knowledge of the roads
affairs. even TO the most minute details. #
is very clever piece of work, and called
forth a deserved compliment from Judge
Speer. 1t dealt exclusively in facts. how
ever, and the impression it made on the
public was not favorable to the future Of
the property. The reason was that only
those familiar with the roads affairs were
able to read between the lines and arrive at
the conclusion to which the facts and hg-
ures therein pointed when logically inter
preted
President Conner has pointed out the con-
clusion. He could not legitimately do this
IN a report to the court. But it was proper
and even advisable, for him to do so in his
communication TO the stockholders.
The conclusion is that with the necessary
financial help and a business equal to the
average business Of the last three years the
road will pay all of its Fixed charges and
have surplus of nearly S25OOOO for its
| stockholders
The question arises, what are the prospects
ha 70 ~ hr4ei
and the necessary financial backing7 APP
parently they are good. 1t Is pretty safe to
say that the roads business this year will be
| equal to the average Of tue last three years.
and this is not a very good year for business,
owing TO the depression from which the
south has suffered duriag the last two or
three years, and from which she is slowly
but steadily, recovering. The roads business
Is increasing all the time, and, with good
management, such as it now has, the gross
earnings will be larger each year from now
on. The territory tributary TO the road is
| growing IN prosperity and, of course, the
volume of its business is steadily becoming
| greater. There is little to fear, therefore,
on the score Of business.
! But about the financial help! What Of
that? II the Holhns syndicate were sincere
in their announcement of their purpose to
put the road on its feet. as it were, when
they took up the Speyer loan, and there is
nothing to justify a doubt that they were,
there Is every reason to believe they will
respoLd to every reasonable demand Of the
road, and that, too, at a rate of interest that
will not be heavier burden than the road
can carry. Anyway, they now have a
chance TO show whether 1t is their intention
to rehabiltate the road or squeeze out of 1t
all they safely can. From what they have
said and done thus far with regard to the
property, there can be no other conclusion
than that it is their purpose to strive
earnestly to restore it to its former pros
perity.
! President Conner is not a rainbow chaser.
Neither is he inclined to take a gloomy
view Of things. When facts justify favor
able conclusion of a business undertaking
he accepts that conclusion, but he is not apt
to entertain or give out more favorable
impression than the facts warrant. He
would rather business enterprise should
turn out better than he predicted.
He says he regards the statement he has
made to the Ce6traIs stockholders relative
to its affairs a conservative one. He is
satisfied that if the conditions he mentions
are fulfilled he can bring the road out
OF its financial difficulties, and, at the same
time. so improve its fiscal condition that 1t
will be frst-class railroad system and one
of the soundest properties, financially, in the
country.
Naturally, he will be subjected to criti-
cism, whether he meets with success or fail
ure. But nothing that can be said by
interested parties or others will create a
| doubt In the Ininds of the public that he is
sincere in his efforts to restore the Central
to its former physical and financial condi-
ton. And he will be successful if given a
fair chance