The times. [volume] (Richmond, Va.) 1890-1903, 1894-09-04
TIE SOUTHERN RAILROAD
coxsUuuxrI0y or the PL1N of
RBoRGANIZATION
I'll. Cood Fortune of the south-AusP'
cious Opening OF IA Gigantic haii'
road Enterpriso.
Tho New York Sun Of yesterday says:

| Melted. and the last of the many prop0' 80
which. under the plan or reorSani@i''0'''
have lost their unhappy and unloI
Identities and become merged IN ~
! and propltious enterprise. passed l''o '''
possession of the Southern Railway 'oi"-
! many. Last Saturday, therefore MAJ No.
for all practical purposes, the coillie'.0"
of the reorganization; and a CONSIDERATION
Of the situation is, Therefore. oit mind
| rarticuIarlv when IL IS borne III M. 49,
! maj the event is the most nolaD'. -,
has taken place in the history oi '' ,',,,,,
! r,n 'railroads. and that its beaiHl5 uPV,
every southern business Interest - 90
vital Importance. l,,,o,,,- oDer-
ates lr0D miles OF railroad ana "D'u' .,
miles OK water line. Win tHc t',i.nt1
of fgl miles (GOldshorO, y. 80 ~ -, te
can which is leased. all tie ~ ''e''',,
,,,,,,o1 b,. inc company. and the heIclol"I
conulic4ted and expensive li'l Ill,
troll bv maiOrities. wholly lmHi"D Nv any,
and unfortunate in its operation ~ ti'-r,f,.s
r., r,oL. enemies among the minor i'','
a. - o,~sv with. The Ola Richmond
Terminal Company did not own any ~,
road at all. and the much Nauut',' ~
iutrinsicaltv worthless tIchmold Ni'
JauyiIfa owned only liJ miles. nc i'-
~ The Richmond and Danville system W'9
mqde up OF some thirty separate C'.",
plnics. RANKING an length from SlA 10 ".-
miles Efficiency and ccohpu. "'l'
,.o--ille ON this basis, when also dtl'i t,.'
good opportunity for oblecuohapit ll,' a.
,I- of accOuutlng. The ORGANIZATION VI
fine East Tennessee WAS more 'vi't.'NN'
but II. too left much % be desl.tl. a,.o,
As n result of the reorganization W.
,birrv CORPORATIONS. whose AFFAIRS anu
..or,rftfas we're futerlOcked IN every wi
caivable WAY. and I'm almost hopellsr
fusion. are united tn one COMPANY "''
boards Of directors ana lhll.9 .9,,....'.,,.-
.r .s4 "a
ly The original plan was udlcl .'i"t -
i>le. ~ vyas issued on May -3. lN'' tl''
me response of security holders va"
r,r,flrf and by the middle OF juno '-'''
Success was assured 500 far as their CO.
S|.r,tion vas concerned.
'1,na summer and autumn or 1910 fi"
| lived the South. in common WIN 'N, i',.
az the country. and lallroai 'ii i'l''f
enrunh greatly. New conditions ana HtN
combinations were pr resented. anu ,n'
r.,,ff..r, I.,1uc one of OrAliug with DAMN
,,,., r.r.ivers as well a- bankrupt corr
uarltfou- I;y strenuous EFFORTS 'F''s
tl..t.r ,la. ra.l together. and a@ soon I'd.
''.'''. ,.l. ..,,,,. on,auluents Co the original
li.., ,,..,.. ,.fs,oulsat,l. mainly To solve
&c., t...,.iit nrohlcm- of the receiver
'l. "'. ,iso a. rut down the interest
shlps' d"t "''o ',.o,.....'i,...l c'nulnv pend
'N"t-'' "l ''' -....,t ,.,.rlifior4
lh- return I'D i',' ,.'',' No.. ,,..... ..rllfe Du
Ihtrt dii.'' '..''. 49,. ,,.,r. .o reasonable
hdIch D, l'''' .''' - '',... ,,,,ict.lr ...-
iu character mat '"rF N't tto
cepted by the security holders "'' que
REORGANIZATION was ~ one lu com,
ward with such fapldl'l Una, " WIZ, ,''.,,.'''
months the new company WIS H
ana now. Within TWO n'Nii7
last of the property comes NV ~
session $500 miles Ol IAlil' 'l WIZ '.t
acuy six months ago. nid amos, e."
to pieces. and which. but toi lhr Hu""h
hands that held tho properties l'-''H,
DURING all the financial troubles. "'"''t
la,a drorped 10 pieces. are uoW hrou-nt
o.. B.
,f,h. t..,,- company ts organized under
,r,rtor Granted lv the Legislature or
VIRGINIA suuulemcuteI hy IT'S conformity
~ tr i,or- of au the other states In
IrI va. understand that some hali dol'h
minor eqla. ana as many more convey
aur,s of other kinds are row I'm progress
f ,rlnr "a rarf-ct the minor details az
,,-,,,ortfee now MERGED into the Southern
H. 9,.,t. cl,,rqnv we're covered hy about
St' yu'f >, l,,,...t bave boan eliminated
"a lir' i..' - ,,,tber
Il vI' ,W's - .o,,,,,r,. located as
81 m' ll'7r rb and earve ain of tho di-
Vefsihed lnterrSts nl ','V ,,,att a.. t,y,
way "i UT u.s. 10y ~ t,,.J,. AMI
a 81 0'"l n, .a All. cn tho north and
I'''ii' 1o'' a.li 80, IN soutb
tne, .Ni'u'i4' coz, mem, ,il. w. .nrniv
"Ai rom lD'Sr '',,s a., H., 'rbe,
an me I't ~ ..r ham fniusfrI1 of The
SoYtb m KnoxviiIe. Cioveiani Chatta-
noo-a NnNi7i I..i cb...,-
~ ,..i,..,,i ..,,, tL.r n or,- other pltc,.
at i,l So, ,,'' M az tb.t rnftsr
I'm the world ON the western division of
~ '",.., 81, .,. 80, t1irt,, iron
-. ~ ,1,,b irru,ner,Ti. small
.-U" ''' N--'' - ~. .t ,,,
t 49, , I' ito.,. w. tba st,ta.
,t-', t, -, r. tl. ~
D',,rl. ~ J-a,,. him iron, overv a.
rrc,i, o, o,i,. 80, f. ~ iincs Lt.
80 q. l..,,,.'-y, f- Ia a. ,.,,.,t.
The sections - No~tb ana Sorth caro-
Ina ana Georgia which are occupied by
cotton mills The Growth of cotton mills
along the Inc IS nerhars on. Of lbs
r,,st remarkable faatnraa pi,bt +brougb
The hard times now mills have boon .1,n.
up. especially I'm North Carolina H.
line. i'm Keutucky enlIf. IN 10 Central
lis full share OF fine. tobacco husfn.ss M
Louisville and I'm alIirilu tl tIf. r.
penetrates i'm every direction the country
iin which tobacco Is grown. especially in
the neishborh0od ~ ONf0Tl and Durham
in North Carolina. and along almost
t"lit irhsth ~ me FORMER western
40. IN -'i"'lnh IuIIgad. Nhcn rs now "a
a A., l,S .ysl'ill. l'y way or Augusta
vary mr.. thorn '7 - oi I.. d.. H.rs a.
bushes, I'm fhs eo,,tto.,.ln,'' ' ~ "'
h. tba 49,, dt--. ..i'H t''7 I'
VVashin0fon o. .'' li'u
mediate noirfs anI ~ a. ',iT .'
any line 10 FloriIa ~. oil T,,,-
Air Line. which Is "a part or Inc s,'eter,
has long been famous 800
The properties embraced ir tba raor-
ganizatlon l1l bonded and .,tir., I.Lt..
OF about $4,000 on. This IS now reduced
10 bonded debt OF S4n0JDJl irc..,f,.-
sufficient bonds (Which are rcscrv.b 10
take mp an underlying bonds and AN Oh.
bonds and stocll8 OF the i7l miles ~
iei9ed rairoiI. The company VIII also
ISSUE at"Ht f'''"o more bonds during
~ .'',,,. To tr1Ts, no purchase ada tion-