The Dawson news. (Dawson, Ga.) 1889-current, 1893-02-15

Bank of Americus, With It's Great
Surplus
From the Macon Evening News.
AMERICUs, Ca, Feb, 8 The applica-
tion of certain creditors of the Savannah
Americas and Montgomery railroad TO
have the road taken into Judge Speers
court is the last straw 1t has broken
Col. Hawkins down, and whether the
appHcs ton is successful or not makes
but little difference.
The history of the sam road as it is
Famiiarly called, reads more like TO
nance than of a staid railroad. BY the
building of the road Col, Hawkins be-
came, from an ordinary bank p ,esident,
the great railroad king of Southwest
Georgia. He virtually dictated the great
business interests of this section and
those who opposed him or his plans, or
who did not "oow the knee, - were made
30 feel his displeasure.
As long as the road ran from Lumpkin
TO Abbeville, even after the heavy eX-
pense Of changing from narrow to
broad guage was incurred, it made mon
ey. But Col Hawkins was ambiti, us,
lie tried to gain control of the Atlanta
and Florida railroad, when that road got
into trouble. Failing in this he decided
to build on to Montgomery.
Many OF his most trusted friends and
advisers protested against this move and
it was only 10y using the strongest OF az
guments that he succeeded in getting
his hackers in Baltimore to give reluc-
tant consent.
The road was built. 1t cost very near
twice as much as was expected and bank
rupted the construction company, com
posed of the friends Yof Hawkins, who
contracted to build it. 1t runs through
a poor country after crossing the Chat
tahoochee and it has never paid
In building it Hawkins borrowed mon
ey right and left. For months every cent
of it's earnings went into it, leaving many
bills for supplies unpaid. Then the fl
nancial crash came Dy tremendous eX-
ertions the road managed to meet the in
tercst on its bonds, but,people were be
ginning to feel sAaky and were more
pressing in their demands for the pay.
ment of their bills.
The Bank Of Americas, with a capital
of 100000 and a surplus of S150,00O
was Quilted. 1t dropped it's commercial
business entirely, and months before it
failed many predicted the result.
The Americus Investment Company,
whose stock went to 800, was all wind,
as shrewd financiers saw when it de-
cIared a dividend in stock of 100 pei
cent. Its stock is now selling for-well
almost nothing, as no one will handle it.
AS its assets are composed of stock in
the Sam road and few farms ana build
dngs, Since the bondholders have the
road the stock is worthless
The bondholders are running the road
and Col. Hawkins, though co-receiver
has nothing to say about its manage.
,ment, Mr., Gabbet having complete
charge. Hawkins own sons, who had
Lucrative and easy positions, are now
out.
oaid Col. Hawkins to a friend not
long ago: eff it were possible, l would
sacrifice everything l have to get away
from Americas My best friends have
deserted and are traducing me-"
The change in sentiment of the town
6rom few years ago is wonderful A
few years ago he had elected a council
known as the "Sam" council. When it
retired the city was nearly bankrupt To-
day he could not influence ten votes, so
his enemies say. Hundreds of people
are badly caught by loans made or mon
ev advanced. There is hardly firm or
company in this section that is not in
Yolyed, and as a consequence times are
harder here now thau.t4ey have ever been
known. Several concerns known to have
been closely connected with Hawkins,
are very shaky, and many prophecy that
the end of the failures are not yet.
1t is not yet known if the stockholders
Of the Bank Of Americas win be assessed,
but if they are there will be waiIing and
lamentation in the land, and curses loud
and deep. Already the individual ex-
pressions Of one old and well known
toekholder, who would skin a flea for
Its hide, are picturesque and enlivening
when diIatinU oD tl,a l,,,,Iv % fr,;,