The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-11-18
Rail- AND CROssrIE.

The amended articles OF the association.
incorporation and consolidation Of the
Southern Pacific Railway Company have
just been filed in San Francisco. The doCu-
ment sets forth the names OF the rail ways in
California which were conso lidated in 1888
under the name of the Southern Pacific
Company, with an aggregate capital of
Sl43,0OO,OO0, which was subsequently re-
duced to S90,000,000.
The committee of Richmond and DAN
Vile defaulted securities will add one or
two New Nork holders to the present COM
mittee, and will select some trust company
In New YORK to act as depositary.
The proposed Memphis and Yazoo City
railroad will be 100 miles in length, extend
ing from Yazoo City, Miss, to Helena, Ark,
passing through Morehead and Clarksburg.
1t is expected TO begin work at Morehead,
Miss, about March /.
1t costs something to build railways now
adays. A contract has Just been let for the
first sixteen miles OF the extension of the
Northern Pacific from Santa Margarita
south to Ellwood, Cal. This sixteen miles
includes number of tunnels, the largest of
which Is 3. 700 feet. 1t is expected that it
will require about fifteen months to COM
plete the sixteen miles, which will cost
$l,500,0O0.
The last general assembly passed law
placing the authority of issuing charters to
corporations in the hands OF the secretary
of state The constitution had to be
amended, however, before the law could go
into effect and Representative Berner in
troduced bill providing that any railroads
In the state which should be sold before the
meeting Of the succeeding general assembly
RhOuld cOntiuUA a upHar al
charters until the next general assembly
met, when charters should be granted as TO
other railroads in the state. Two street
railroads in Macon have been sold
and their names changed. The EN-
pire and Dublin railroad has been
sold and its name changed to the Ocomee
and Western Railroad Company; the
Coast Line Railroad Company of Savannah
has also been sold. The purchasers of these
several roads have fully compiled with the
provisions of the law contained in section
1889 Of the code. The proviso of the sixth
section Of the act Of 1891 declares "that
such purchasers shall only operate said
road until the meeting of the next general
assembly, when they shall be Incorporated
as other railroads In this state.n The con-
stitutional amendment recently adopted
prohibits the legislature from granting rail-
road charters and makes it the duty of the
secretary of state. The Droviso referred to
places the roads named IN an awkward and
uncertain position as to their rights and
privileges
The Southern Railroad and Steamship
Association seems to be very much in
earnest in It's effort to prevent rate cutting.
At the meeting Of the association in New
York the other day Col. Ii. s. Haines. vice
president of the Plant system, said that
rate cutting has become very serious evil
among southern railways. 1t is pretty
near the truth also that few shippers have
made the rates for the railways by virtu-
ally putting their business up at auction for
the highest bidder. This action the railways
have not heretofore had a sufficiently close
and effective organization to resist. To
solidIty the association. take the control Of
our rates into our own hands and keep
them there are now our aims" The forma
ton Of a tonnage pool was discussed, but it
is doubtful that one will be established right