Goldsboro weekly argus. [volume] (Goldsboro, N.C.) 1885-1909, 1894-08-09
PROSPECTS OF THE SOUTH

w vi. L ie 1 Hfo NouCAAC9 /
keen interest every evidence of
progress and development in
this section and is ever ready to
offer words Of encouragement to
u people. In its issue Of yes
terday it has the following
strong and instructive editorial
on Southern Railroads.
Two events of Importance to
Southern railroads, as we'll as
various interests related to rail
way transportation in the South,
occurred Thursday. One was the
restoration of rates under the
recent agreement of the South
ern Railway and Steamship AS
ISOLATION, and the other was the
official act consolidating the
Richmond and Danville with the
East Tennessee, Virginia and
Georgia and yarioys other small
lines under, the compact but am
pie charter Of the new South
ern Railway Company, The
complete Generalization Of rail
road and steamship rates
throughout the South has had a
disturbing and mischievous eff
feet upon business generally,
although in some quarters it has
melted an unusual activity in the
transportation of freight. The
return TO uniform and stable
rates will undoubtedly be gladly
welcomed by the shippers as a
class, and by the transportation
mediums, which in many in
stances have been carrying
freight at unremunerative fig
ureS.
The importance Of the amalga-
nation Of the Richmond and
Danville and the East Tennessee
systems into a s;ngle-heade0 and
permanent organization Will be
best appreciated by persons who
have business interests in the
South, and who therefore know
how bitter the rivalry between
those two systems has been at
times. Local jealousies sand IN
compromising business compe-
tition have been very costly ele-
ments in the history of those
rival lines, and the industrial
growth of the sections of coun-
try traversed by them has sui
fered in consequence. 1t is the
avowed mission Of the new
Southern Railway Company to
harmonic hitherto antagonistiC
interests, eliminate ruinous com
petition, and endeavor to foster
Southern industries by dealing
impartially and fairly with every
community, as we'll as with each
separate business concern.
An increasing interest IN the
securities of Southern railroads
in financial circles indicates an
increasing faith in the business
prospects Of the South. And by
a natural process of reasoning,
any improvement Of business II
the Southern States means even
tually an Improvement in bust.
ness conditions throughout the
country. just at present the
Southern railroads are making {
better showing proportionately
than the roads in any other sec.
ton of the country. This favor
able state of affairs is doubtless
due partly to the fact that South
ern railroads have not been ham
pered by any costly labor strike
partly to the cessation OF The
war of rates, and partly to the
fact that the Southern cotton
crop is ready for the market,
Railroad men of long expert
ence and conservative judgment
do not hesitate 10 predict {
speedy and substantial improve
ment in business in the South
With such careful and business
like railway management as is
foreshadowed by the policy 0.
the Southern Railway Company
it is difficult to see how an i'm
provement in business condi
tons can be avoided. President
Spencer's administration of the
new railroad system is likely tc
be a benefcent one, for heb as
a replenished treasury on which
to draw in b~ettering the condition
of his lines, and his directors
a issue $500, 600, 900 of the
bonds yearly for the next few
years, for the purpose of extend
ingand otherwise improving theil
railway system. In a section O
country where business indus
tries al dependent in SO large ;
degree upon railroad enterprise
encouragement, such a policy as
tnat marked outfor the Southern
Railway Company is likely t.
I bear yearly and abundant fir Is
There is little fear that The
North, east, or the west vii
feel-muchI1ess man;fest-any
jealousy if Ere Sortf. gets its
business. boom started f~st. a
boom in any parSicalar"part o.
stbe corner of the country vii
be but a lump Of Teaven ii the
ss'ffrsdustrial loaf. and its effects
will become general withia sur
prisingly brief period"
The generous terms VITA. Ykicl
the Times concludes it's editorial