The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-10-29
A GOOD YEARS EARNINGS.
What the Georgia Railroad Commits
sion's Report Shows.

What the Georgia Railroad Commits
sion's Report Shows.
The Georgia Railroad Commissions an
nual report makes an interesting showing
of the railways in this state.
Speaking of the reorganization Of many
miles Of railroads in the state-the great
work Of the Drexel, Morgan & Co. reor-
ganization movement. the Georgia COM
missioners have the following to say:
THE universal depression that has pre-
vailed everywhere has been seriously felt
by the railroads in Georgia. The reduced
volume of business has necessitated the
most rigid economy on the part of the
railroads. Their gross and net earnings
for 1894, set out below in this report, show
gratifying increase over the previous
year, and we may confidently believe that
with the Just and reasonable rates allowed
the different roads, return of business
prosperity will restore the roads to their
former prosperous condition.
"Since our last report 723 miles of rail-
roads in Georgia have been sold and re-
lieved from the care of receivers and re-
organized, and indications point to the
rescue of these great properties from the
expensive management of the courts. If
the new organizations will avoid the ex-
travagance and the over-capitalization in
stocks and bonds that has heretofore ex-
listed, there is every reason to hope that
| these properties will earn fair dividend
| to their stockholders, upon a Just and
| reasonable valuation.
| THE establishment of trunk lines and
great systems under one management is
! the decided tendency of the present rail-
way management in Georgia, as else
! where. Such consultations largely re-
duce expenses, and, with WISE just and
| economical management, ought to insure
| increased net earnings. By the safe
| guards of our state constitution competi-
! ton cannot be destroyed in this manner
! BY strict regulation and control, insuring
! Just and reasonable rates and adequate
| service, the evils so generally apprehended
| from these combinations will be pre-
| vented, and the public will be protected
! from eXtortionate rates and unjust dis
| elimination. The strong should not be
! permitted to Cypress the weak nor should
/ they, by unjust and arbitrary treatment
be permitted to crush out their weaker
| rivals, that they may the more readily
! absorb them"
In reference to the small amount of
railway construction during the past two
or three years the commissioners saw;
! Comparatively little railway construc-
ton has been carried on in Georgia since
| our last report. The actual number Of
/ miles constructed so far as derived from
| official information received at this office
| is 1I9 miles. OF this number there were
| 1O7 miles of railroad built by the Florida
/ Central and Pehinsular Railroad Company
! and eight miles by the Middle Georgia and
| Atlantic Railroad Company There were
! also seventeen miles OF railroad construct
! ed by the Middle Georgia and Atlantic
| Railroad Company not included in said re-
! port built the previous year.
Notwithstanding the large increase of
railway mileage in Georgia since 1850. and
| the present destination to invest in
railroad property, we have Official infor-
nation that at least two other important
/ railroads are now being projected and
| their corps of engineers are now already
/ In the field. With returning prosperity we
! may expect an additional increase in mil
| way mileage, in full proportion to the de-
mands Of the public for additional rail-
/ roads"
Speaking of how railroads enhance the
/ value of a country through which thew
| run, and tables bearing upon the COMPARE
tive earnings Of the roads in this state
many years ago and now show:
| The gross earnings in 1879
were .........................S2 . 419626
/ Operating expenses in 1879
] were ACKNOWLEDGEMENTS. 4,9996l3
Net earnings in 1879 were 49,. 50. ola
These estimates are all that are ascer-
tainable for that date
Gross earnings for the year
ending June 80. 1894, were. ST. 20s s24 On
The operating expenses we're. L, III, 321 90
The earnings were ............... 4 1877 zoo Oh
According to the census Of 1ss0. tho
population Of Georgia was L542.1sO By
the census Of 1890 the population Of Geor-
gia was ,837 1858.
The estimated population Of Georgia e.,
1894 was 1900 900.
The value Of property returned for tax
alton, not including railroads, In 1879, was
/ S225093,4l9
THE value Of property returned for tax
alton in 1898, not including the railroads.
was 1888 428.7fs
1T win be seen that the population Of
the state has increased 29e9 per cent, or
in round numbers, 30 per cent; the in
crease in taxable values 7252 per cent
and the Increase In taxable value of rail
road property 100 per cent II will be
further seen that the per centum OF in
crease In taxable values Of other than
railroad properties has been nearly as
great as the per centum Of Increase iu
railroad mileage and the valuation OF rail
road property while the population has
only increased 80 per cent. This Increase
] lA INC FAAAaAAyA VI RfNkfItg % NO doubt
largely due 20 tho Increase IN raiiroa
mileage. Railroads enhance the value Of
property along their lines. by building ur
cities and towns and manufactures of an
kinds. and developing the resources on the
section penetrated BY them"
The following statement Or interertiuo
showing me increase iu earninrs durlnr
fhe last twelve months.
FOR tho year 1898 the nFrrefafo
gross earnings were ......s...fif.Gz 90 b
I Operating cHpfuses ............. D.. 758.Eg5 4.
/ Est earnfrre ............. q as- 49, y