The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1895-08-28

Afraid That the Road Might be Re-
tnrned as it Was in 1s7l--But OF
What Difference N0w--It Must be
Returned With All Betterments at
the End of 90 Years--And Then the
Atlantic and Danvilie Was Twelve
Miles Nearer--And, oh, the Horr Bile
Lot of Bogy, Bogy Men That Mr..
Spencer Drew.
staff Correspondence News and Observer.
CHARLOTTE, N. c., Aug. 81.
l called yesterday at the home of Mr..
Sydenham B. Alexander, president of
the North Carolina railroad, for the pur
pose of getting from rim, if possible,
some statement setting forth the position
of himself and the directors of the road
in connection of the late lease of it by
them for 90 years to the Southern Rail-
way.
Mr.. Alexander was not unalive to the
criticism Of the press, which has been
outspoken against the lease as made, but
he was in no wise disposed to surrender
his conviction, as expressed, that the
best that could be done for the State in
this negotiation had been done.
The president explained how he and
the directors had met President Spencer
and Vice President Andrews at Bnrling
ton and how the proposition of the
Southern Railway was before the board.
1.-THE Southern railway, Continued Mr..
Alexander, towns 1000 miles OF road
south and west of Charlotte and about
1000 miles north of Greensboro, ard the
track of the North Carolina railroad be-
tween Charlotte and Greensboro is part
of their trunk line. They wanted to
or not, and if they could not, tkey
would, they said, fill up that gap be-
tween Mocksville and Mooresville Chis
gap covers IS miles, and as roads
could't be built in short time, they
thought it but reasonable that they
should know now what they should do.
They stated further that they had secur-
ed terminal facilities, and if they could
not get the North Carolina railroad, they
would try to get the Atlantic and Dan
vile road, which would give them
through line TO Norfolk. Now, that
road from Greensboro via Danville is
about ten miles shorter than the road by
Selma, over which the Southern now
oontemplates going.
"With these facts before us we had
earnestly to consider the question, and
the question was, could we make the
rental with the new environment pro
posed2 Moreover, in addition to this,
the Southern had a road into Norfolk,
into Greensboro and into Charlotte, and
would no doubt build branch from
Mooresyille or Davidson College into
Concord, and, if the Cape Fear and Yad
kin Valley can get on its feet, it'll build
branch into Burlington. That would
leave only one big station, (namely Lex
ington) uncut on the line.
Again, the earnings ofsthe North
Carolina Railroad for the year, ending
June 30th, amounted to over 81, 300, 600,
and over 800, 900 of this was for through
freight, neither put on or put off of any
station of the North Carolina Railroad.
This you see leaves only about $500, 600
of local freight, with the Southern into
Durham, Greensboro, Salisbury, Char
lotte, and probably Concord and High
Point (only II mile road will have to
be built TO make the connection at High
Point.
''In the next place, there is clause in
the old lease permitting the Southern to
return the road in the same condition as
that in which it was received in 1871;
and, too, it is given four months in the
old lease in which to remove all better
ments. And, apropos of this, President
Hoffman, of the Seaboard Air Line, said,
as to making bid for the lease, that of
course he would not do so, as they (the
Southern people, would run it down on
him. He could mean nothing by this ex
cept that the Southern people would take
off all equipments as permitted by the
lease, thus restoring the road to the
condition of 1871 which ought to be
called the pioneer condition of railroads.
Now, then, do you not see that the
natural consequence OF all these things
would be that we would be without any
money, and would have to put mort
gage on the road in order to re- equip it,
and with the fixed charges we could not
have paid dividend in a number of
years -if at all, and with no surplus we
couldn't do anything.
las TO the ninety nine years feature
of the lease, the board did not walt to
make long lease, if otherwise they
could have made an advantageous one,
but they intended to avoid the great
mistake that was made in 1871, of per-
mitting it TO be returned in the condi-
ton in which it was received. But the
trouble was they refused to include bet
terments-to be surl endered at the end
of the lease-unless it were made for
ninety years.
Looking at the matter generally,
these men can command all the money
they want at per cent and you can't
force people 10 do as you want, who are
able to do that. And, again, no legisla
ture in North Carolina has ever refused
to grant charter 10 a railroad, no mat
ter how much it hurt the North Carolina
railroad, and the directors are put there
to protect this road.
''In the next place, the Southern Rail