The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-09-06
THE GREATEST ON EARTH.
The Gigantic Syndicate Whose Cash Is
in the Southern Railway Company.

gan q Co., Each own Quarter In
terest-A Railroad Owning 4.5oo
Miles of Road-The Great Enterprise
Formed Under Most Favorable
Auspioes.
Chattanooga, Tenn, Sept. 5.-The
greatest combination of private capital
ever before enlisted in one enterprise in
the United States, is supporting the
Southern Railway Company From a
thoroughly reliable source the Times is
informed that the underwriters, as they
may rbe termed, Of the reorganization
scheme of the Richmond and West Point
Terminal and the East Tennessee, Vir-
gnia and Georgia railroad companies are
none other than the Rothschilds of Lon
don and Paris and the Vanderbilts of
New York-Cornelius and William X
THE FOUR GREAT INTERESTS.
The reorganization, as is well known.
was undertaken and successfully consum-
mated by Drexel, Morgan & Co., of New
York, and J. S. Morgan & Co., of London.
These two great banking houses inter
ested their richest clients-the Roths-
childs and Vanderbilts The syndicate is
really very small in numbers, for it is
divided into four portions, but is colossal
in wealth, representing the greatest ag-
gregatiOn of capital in the world-more
than half billion of dollars.
S3O,0O0,000 NEW CAPITAL INVESTED.
The RothschiIds have one quarter, the
Vanderbilts one quarter, Drexel, Morgan
81 Co. one quarter and j. S Morgan &
Co one quarter. The reorganization plan
and it is this sum that the quartette has
agreed to supply, and more if necessary.
The money to be used in heavier rails,
new bridges, new equipment, terminals,
extensions, etc.
The Southern railway has now acquired
in complete ownership 4, 500 miles of road
and by the reorganization has reduced
the bonded Indebtedness from Sl35, COO 900
to $50, ,0O0, 000-iust oue-third, and the
fixed charges from $500, 900 per annum
to s., 800, ,0O0-a saving of $3,OOO,OOO per
annum. The bonded Indebtedness of the
road IS now less than $40, 900 per mile.
The first annual meeting of the stock
holders is to be held in Richmond, Va
Tuesday, Oct. 2, and bonds to the amount
of 1920, 600, 600 on the entire property will
be authorized. Thirty millions of bonds
are 10 D6 uSeu III improve i ne eX-
penditure OF this large sum of money
in the south along the line of the South
ern railway will be far reaching in its
effect
EXTENSION OF THE VANDERBILT SYSTEM
There is now very little doubt that the
Southern railway project is simply an ex-
tension of the Vanderbilt system into and
throughout the south. The Chesapeake
and Ohio will, no doubt, become a part of
no gfs,rVn Wit n oh Cv.f a,,A
Queen and Crescent system will ulti-
mately become part of the system,
whatever NAV be the immediate plans of
the Cincinnati, Hamilton and Dayton peo-
pie. Through the Cincinnati Southern
the Big Four of thea Vanderbilt sys-
TEN will be reached at CincIn-
natl. The controlling stock of
the Central Railroad of Georgia is held
by the Southern railway, and when the
property finally gets into the hands of the
security holders, which is only question
of a short time, it will be discovered that
the Observation-Disclosures system is in
control. The plans of the Drexel- Morgan
people are now so near fruitiOn that il is
now no longer matter of speculation
The greatest railway combination on
earth is near completion. Twenty-Five
thousand miles of the best railroad prop
erty in America will soon be under the
control of the ROthschild-Vanderbilt com
binatiOn.
UNDER FAVORABLE CONDITIONS.
1t has been an open secret for some
months that the Rothschilds were be-
coming interested in American railroads.
While the reorganization plans of the
Richmond Terminal and East Tennessee
give DreXel. Morgan q Co. supreme con-
troll for five years, by the expiration of
that time it is confidently believed that
they will continue the control by virtue
n foa l,aF flovr fla t,,111;
interest. The beginning of the Southern
railway is under the most favorable con-
ditions. While the properties have
been re-organized on a basis that
would enable prudent management
to make fixed charges during depressed
business period, such as the south is just
emerging from, the prospects for buS-
ness greater in volume than the south
ever before en- Dyed are now of a most en-
couraging character. The cotton crop
Will yield nearly 100000 bales, and the
south will not only have enough corn for
It's own use but great surplus to sell
The general condition of the planters and
farmers in the south was never better.
They were never before so little in debt
Factories and furnaces are resuming in
every direction. One order for 10000
tons Of pig iron has Just been given the
tennessee Coal and Iron Company by
Matthew Addy Il Co. of st. Louis, and in
H'Ol uoHCc IHC SuNdh 4ul utCO hoS ACSH
put in blast, and the South Pittsburg fur
mace will also be in blast in few days
Every factory in the city Of Chattanooga
Is at work, and the greatest activity pre-
walls among the boiler makers
PRoPITIOUs TIME.
very marked improvement in the
general tone of business throughout the
south has been apparent for some time.
The feeling that the south is on the
threshold of a great era of prosperity
seems to be daily increasing in the north
and west. Eastern banks are freely Of
Iering money at low rates of interest TO
their southern correspondents, and large
mercantile houses are crowding the south
with commercial travellers. The South
eeru railway has its beg inning at propi-
tlous time.
Inc ,ndiary Fire.