The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-07-29
TO BE BUILT IN A YEAR.
TIE SOUTH BOUND EXTENSION
INTO FLORIDA.

The Florida Central and Peninsulars
100000 Bond for the Completion
of the Florida Line by September /,
18e3-The South Bound to Continue
an Independent Line.
The announcement in yesterdays MORN
ING News of the deal by which the South
Bound railroad passes into the hands Of the
Florida Central and Peninsular for ninety
nine years on satisfactory terms for every
body concerned. was good news. not alone
to those financially interested in the road,
but to all who are interested 10 the welfare
and progress OF Savannah.
The South Bound stockholders or those OF
the Savannah Construction Company re-
ceive the best Of terms Better still, the
conditions of the lease require the build
ing Of the line from Savannah 70 Jackson
vile BY its terms the Florida Central and
Peninsular railroad does not take possession
of the South Bound until is has completed
the line from Savannah to Jacksonville.
At the same time it guarantees the interest
upon the bonds Of the South Bound from
the time of entering into the contract 30
that the bondholders will receive their next
interest, although the road remains In the
hands Of the stockholders. II the road
will not have it to pay, but the bOndhold-
ers are assured OF their interest at any rate.
NO CHANGE OF MANAGEMENT.
As the road will remain in the hands OF
the stockholders for a year, at least. there
will be no change during that time in its
present management, and the present Off
Gals of the road will continue in their re-
spectIve capacities.
The Florida Central and Peninsulsr is TO
he uvOrk nf the
line from Jacksonville to Savannah tmme-
distely, or as soon as possible.
The completion of the road is guaranteed
by Sept. l, 1898, and bond of 5000, 900 has
been made for the fultillment Of the con-
tract. 1t Is hoped to complete the road In
advance Of that date. The Florida Central
aud Peninsuar people have all the money
needed for the work, and will have no de-
laws on that score.
The interest upon the bonds is not 10 be
paid by the lessess direct, but through the
South Bound, the amount agreed being In
the nature Of an annual rental;
The South Bound board will
preserve its integrity and continue |
its organization in all respects as hereto |
fore. The road is TO remain an independent |
line. Its name will not be effsced from its |
cars and engines, and in every way its cor |
porate existence will be continued.
TO USE THE FRANCHISE.
The lessees are given the right, however,
to use the South Bounds franchise In build |
ing to northern connection, or TO use any
other franchise granted the South Bouud
Railroad Company. 1t is not believed |
that the Florida Central and Pelinsulsr
will establish terminals at Savannah, but il |
is thought likely that it will make arrange |
ments for the terminals with tee Central |
railroad as q natural ally. The effect # the
lease is to give Savannah the benefit Of
k,.- IL -rzA - ,.f1I
give competitive rates not only % Florida, |
but to the north and west as well An ex-
animation of the map viii show the South |
Bound to furnish q shorter route to the |
north and great portion OF the west than |
by any system now entering the city.
A wsll-kuown real estate dealer and |
capitalist said last night in speaking Of the |
deal: Il consider it the greatest thing that |
has happened for Saval nah In recent years. |
1t compares with the appropriation for |
deep water by congress. It means another |
large railroad system for Savannah aud a |
very important QUE The Florida Central |
and Penina0lsr u one Of the strongest rail- |
road systems IN the south. Il is the chief |
rival q the Plant system IN Florida, and is |
recuGn EsG BY shAs system es a formidable
adversary. Que Of the first effects
will De TO bring 81 the Florida freights
Whico ara low going around by other
routes, through Savannah, as was the case
N A0FL-sE years.
10 OPEN a NEW TERRITORY TO SAVANNAH.
1T viii oDeu up to Savannah a great ter
ritory in Florida, which is now reached
with difficulty. on account of insufficient
rail accommodations, and will furnish
quick transportation each way for goods
and products Of the city and country. This
viii prove very valuable territory for
Savannah. Jacksonville will then be
as convenient as Columbia now is by the
South Bound Savannah, by reason of
competition Of the Richmond Terminal
systems will become tourist rate point,
something greatly 30 be desired Savan-
nahs freight and passenger facilities will
then be unsxcelled by any city in the coun.
try, Savannah will not be the only city
benefited by the new line 1t will help
Brunswick by placing her upon direct
north and south line instead Of of 10 one
side as at present It will be the making OF
Darien. which has been languishing for
twenty years for the lack of railroad, and
it will build up all the country through
which it passes"
All Of this has been brought about by
little company of Savannah capitalists who
combined together to construct the South
Bound a couple of years ago These men
now deserve to be considered as benefaotors
Of their city.