The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-05-08
THE GEORGIA RAILROADS.
Their Condition Since the Creation of
the Railroad Commission.

the Railroad Commission.
Tallahassee, Fla, May editor Sa-
vannah Morning News Your good neigh
Dor, the Jacksonville Times Union, of yes
terday copies from the Jacksonville Tele-
gram of day before yesterday, with
apparent editorial approval an article, or
more strictly speaking, an editorial on
the subject of the railroad commission
bill now pending in the legislature of
Florida. In the article referred to ap-
pears the following:
Georgia has railroad commits
sion with almost absolute powers.
When the bill creating it was under dis
cussion 1t was predicted that its passage
would stop all railroad building in the
state and wreck the roads that were
already built The very reverse OF this
proved true. Railroads stocks incr eased
in value; more than twice as many miles
| of road have been built per annUm as was
ever built in any previous history of the
state. In the last few years Georgia has
led the whole union in railroad construc-
ton"
These statements, no doubt were made
for the purpose of influencing the judg-
ment of members of the Florida legis-
lature, and, no doubt, the writer in the
Telegram and the editor of the Times
Union who copied this article, believe
]
believe either one of these reputable
journals would make such statements
| unless they believe them to be true.
So far as my information goes, the
only thing stated in the fore
going quotation which is absolutely true,
is that in which it is said that the
Georgia railroad commission has almost
absolute powers" The fact is, that thir-
teen railroads in Georgia are to-day in
solvent, and are being operated by receiv-
ers. They are the Savannah, Americas
and Montgomery, Central of Georgia,
Marietta and North Georgia, Blue Ridge
and Atlantic, Savannah and Western, Alb
bevllle and Waycross, Augusta and Port
Royal, Macon and Northern, Georgia
southern and Florida, Macon and Birm-
mingham, Richmond and Danville, East
Tennessee and Georgia and the Midwife
and Swainsboro and Red Bluff. Three
have recently been sold by the United
States marshal, as follows:
The Atlanta and Florida, which cost
over 81 600, 600, was sold for $780, 900; the
! Augusta, Gibson and Sandersville. the
cost of which do not know, was sold for
S25O,OOO and the Macon and Atlantic.
The only roads at the present time which
are not in the hands of receivers are the
Plant system, the Georgia railroad, the
Atlanta and West Point the Columbus
| southern, the Georgia Midland and Gulf,
and two others whose mileage in the state
! is very small The Georgia Midland and
| Gulf only escaped a receivership by seal
ing the interest in its bonded debt, and
! thus reduced its fixed charges
! As to that part of the quotation herein
| given, which relates to the advance in
| prices in railroad stocks in Georgia, beg
| to say that Central railroad stock is Of
fered on the open market at % cents on the
! dollar; Georgia railroad stock, which for
] and IN tI ic
offered in open market ut 100; that South
| western railroad stock, which for many
| years had a fixed market value at 125. is
to-day quoted at about 70; that Atlanta
and West Point stock, which for many
years has been above par is to-day of
! fered at less than par; that Marietta and
| North Georgia bonds are offered at 25
cents on the dollar; that the first mort
/ gage bonds of the Savannah, Americas
and Montgomery are offered at 50 cents
on the dollar, and so on through the whole
! chapter.
Doubtless the two newspapers referred
to were not posted on these matters. or
| they most assuredly would not Ideclare
! that Georgia railroad stocks had gone up
under the operation of our commission
/ law. The prudent legislator who feels
the responsibility of his position as the
! representative of all the interests of the
! great and growing state of Florida, will
not accept such statements without an
honest examination into their truth. As
| sertion is one thing and proof is another.
and if the good and true men. who com
| pose the present legislature of this state
| Will give their careful consideration to
these matters, which a plain duty re-
/ quires of them, they will find in the rail
road history of Georgia many a house
hold reduced to penurY and many a char
| liable institution with its doors closed to
! Of a1
lation by the state.
Rates have been reduced by the com
mission of Georgia to such an extent that
the railroad is required to transport a
suit of clothes 100 miles for 20 cents, and
it is required TO transport hat 100 miles
for cent, and pair of shoes 100 miles
! for about . cents The Times-J Jnion as
an advocate of the railroad commission
law for the state of Florida was very I'M
| fortunate in its reference to the railroad
situation in Georgia, for nearly all the
old railroads are insolvent, and are now
in the hands of receivers, and every sin
gle one of which has been constructed
since the enactment of the Georgia COM
mission law, except one, is either now in
the hands of receiver or has been
| through a reCeiYership.
The writer has no interest whatever in
any railroad in Florida, but he is in
| terested in the fair treatment of capital
IN all sections of the south. If the Times
/ Union Will send capable representative
| to Georgia and let him make an honest
/ inquiry as to present rates of freight. and
/ previous rates of freight, and examine
/ into the history of the commission of
| Georgia, | believe that great Journal
would become one of the most ardent and
enthusiastic opponents of a railroad COM
mission for Florida at the present time
JUSTICE.