The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-07-01
BAKING POWDER.


Central Railroad and Banking
| Company of Georgia, were by the
court continued in control, under, how
ever, the sanction and opportunity OF d1-
| rectiOn TO them resulting from the fact
that they were appointed receivers of the
court and the voting trust, the DONNA
ton of which had destroyed those proper
| ties believed TO be, after careful and anX-
| iOus inquiry, unlawful and in violation Of
| the Constitution of the State of Georgia,
and otherwise in violation of the general
law of the land, was enjoined.
| A NECESSARY ACTION.
| "Now, in my opinion, this action was de-
manded by the highest considerations Of
! judicial duty. Did this stock control the
! fortunes of the Central Railroad and
| Banking Company of Georgia. Can it be
| doubtedl 1t needs not that the court
! should point out the fact that in five years
! there was an increase of $50 1000, 600 of in
! debtedness ON this property heretofore
| solvent, and that there is in the aCcumu-
! latiOns of the company to show for this
! enormous Indebtedness not more than
| five millions of property, capable of earn
| ing certainly not more than per cent.
! interest upon the latter amount. The
lease, itself total abandonment of the
| franchises of this great transportation
| company, was effected by that vote;
when every officer from the highest to the
| lowest was the creature of its appoint
ment; the president of the corporation
! himself, as proven on the argu-
ment, was so wholly lobliter,,
! of his functions that he did not know the
! character or the nature or existence of
the contract by which the Richmond and
| Danville road had taken control of the
| properties committed to him for a period
of 80 years, transaction so far reach
! ing that it is held by the supreme court
| of the United States to be an abandon
mcnt OF franchise.
DOMINATION WAS ABSOLUTE.
"The control and domination was alb
! Lutte. Take this telegram from John A.
! Rutherford, vice-presidcnt, in reply to a
! respectful and urgent telegram from the
cashier of the Central Railroad and Bank
! ing Company, asking the first installment
of dividends under the lease:
| IT M. Cunningham, Cashier, etc:
/ Understand that you are not TO draw
| drafts until wire you They are ordered by
John A RUTHERFORD,
"Vice-President.
1.-THE control was absolute. Then, is it
! true that this is intended TO defeat com
| petition and create monopolyl Is it not
! also true that the Terminal Company con-
! trolled the East Tennessee, Virginia and
! Georgia Railroad Company and the
! Richmond and Danville Railroad Com
! panyl If the Terminal Company is bound
| by its annual reports and by the sigma
ture of its president, that is true. On
page six of the report of the Richmond
and West Point Terminal and Warehouse
! Company. for the year 1891
a report signed by John H
| 1nman, president, and directed
to the stockholders of that company, this
language occurs:
Your system may now be properly
! classed in three divisions-the Richmond
and Danvillo operating $685. miles; the
East Tennessee, Virginia and Georgia,
! operating 2,6l4 miles, and the Georgia
railroad, leased jointly by the Louisville
and Nashville and the Central Railroad
and Banking Company of Georgia, and
roads controlled by the Central and the
Georgia railroad, forming a subdivision
of Central system operating GOA miles
| Can anything be more conclusive
NO DOUBT ABOUT COMPETITION.
care these lines competitive with the
Central Railroad and Banking Company
of Georgia? Upon that subject
the testimony of Shellman, traffic mana
ger of the latter company, is uncontra-
dicted. They are competitive at every
point. From the Tennessee line to the
Atlantic cast the East Tennessee and the
Central are competitive in the local traf-
llC VI UIlG SIotG anu II NC ItIullildI COlil-
pany controls the Danyiue and the
East Tennessee, these holdings
of that company are both
competitive with the lines of the Central.
Then it is true that the entire freight and
passenger traffic of the vast territory
controlled by these three great lines may
he collected into the Golfers of the Termi-
nal company. The president of the Term
inal company, as indicated by his report,
! CONTROLS the entire system. He NAV die
tate rates, he may dictate the
personel of the officers, he
may dictate everything necessary
to the maintenance of the railroad sys-
TEN. Competition then, is defeated. mo-
nopoly is created and the law of Georgia
is disregarded. 1t is true that the Ter
minal company is Virginia corporation
1t is not permitted to enter into contracts
to destroy competition on the soil of Vir-